Eurozone finance ministers are to hold an emergency conference call Saturday on an expected request for aid from Spain, the fourth and biggest country to cry for help in Europe's two-year debt crisis.The eurozone greenlighted the "holding of a teleconference of the Eurogroup on Saturday at 4:00 pm to agree a declaration on Spain's intention to request aid and the Eurogroup's commitment to granting it," a European government official said.A statement was likely to be issued later on Saturday.
ATHENS/BRUSSELS — Greece formally requested a six-month extension to its euro zone loan agreement on Thursday, offering major concessions as it raced to avoid running out of cash within weeks and overcome resistance from skeptical partners led by Germany.
With its EU/IMF bailout program due to expire in little more than a week, the government of leftist Prime Minister Alexis Tsipras urgently needs to secure a financial lifeline to keep the country afloat beyond late March.
TOKYO — French President Francois Hollande told a group of Japanese business leaders Saturday that the eurozone debt crisis is ‘over’ but acknowledged that steps to boost the region’s growth and competitiveness need to be taken.
“What’s important for you here in Japan is to fully understand that the crisis of the eurozone is over,” Hollande said in the speech at the Imperial Hotel organized by The Nikkei, a major financial newspaper.
Eurozone finance ministers are to discuss Greece's debt crisis on Sunday, a Spanish government official said on Saturday, after Foreign Minister Miguel Angel Moratinos expressed hoped of a solution.The ministers will hold a conference call at 2:00 pm (1400 GMT) with the aim of "finalising aid mechanisms for Greece," the Spanish official said.Speaking in Paris, Moratinos said, "I am quite optimistic that we are again able to show solidarity and above all send a message to the speculators that the eurozone is strong and firm."
A small dose of reality has set in for a group of European central bankers: Euro Officials Begin to Weigh Greek Exit as Euro Weakens.
Greece’s possible exit from the euro moved to the center of Europe’s financial-crisis debate, rattling markets as authorities in Athens struggled to form a government.
Italy is likely to need an EU rescue within six months as the country slides into deeper economic crisis and a credit crunch spreads to large companies, a top Italian bank has warned privately.
Mediobanca, Italy’s second biggest bank, said its “index of solvency risk” for Italy was already flashing warning signs as the worldwide bond rout continued into a second week, pushing up borrowing costs.
Eurozone finance ministers will discuss Ireland's debt crisis on Tuesday, a day after Dublin said it was in "official" talks with the EU but denied the negotiations involved a financial rescue package. Ireland says only its banks are struggling.