BRUSSELS (Reuters) - Euro zone finance ministers met on Monday to work out the details of a deal hammered out by their leaders to bolster their bailout fund and ease the terms on aid to Greece amid a...
Reuters - Euro zone finance ministers met on Monday to work out the details of a deal hammered out by their leaders to bolster their bailout fund and ease the terms on aid to Greece amid a positive reaction from financial markets.
BRUSSELS/ATHENS (Reuters) - Greece has three days to reassure Europe and the International Monetary Fund it can deliver on conditions attached to its international bailout in order to receive the next tranche of aid, four euro zone officials said on Tuesday.
BRUSSELS (Reuters) - Finance ministers from the 16-country euro zone agreed on Monday to mobilize financial aid for Greece rapidly if needed but revealed little of how their standby plan for the debt-stricken nation would work.
Eurozone bureaucrats keep upping the ante as to how big a "firewall" is needed. And at every critical juncture, German Chancellor Angela Merkel has proven she is nothing but a liar. With every demand for additional firepower, comes an inevitable cave-in from Merkel supporting the move, no matter what she says in advance.
Meanwhile, the entire idea that firewalls can accomplish anything is ludicrous, given the key point that no currency unions in the absence of fiscal unions cannot and will not work.
One could tell from the rise in the futures this evening that a deal was reached, but conflicting reports had me wondering "what deal?"
The story now is that president Nicos Anastasiades threatened to resign if the terms were not acceptable (a nice strategy), and euro leaders agreed to a 10 billion euro bailout.
Reuters reports Revamped Cyprus deal to close bank, force losses.
BRUSSELS (Reuters) - Euro zone finance ministers will discuss the details on Monday of how to strengthen Europe's financial safety net, after their leaders decided on Friday the emergency fund should...