Brussels (AFP) - Eurozone finance ministers gathered in Brussels on Friday for crucial talks on approving a huge bailout for Greece designed to save the country from financial collapse and a chaotic exit from the eurozone.
Berlin (AFP) - Germany's hardline finance minister Wolfgang Schaeuble on Sunday hailed a change in tone in talks with Greece over its next bailout but warned Europe would closely monitor the pace of reforms in Athens.
Cyprus agreed to the outlines of an international bailout, paving the way for 10-billion euros (US$13-billion) of emergency loans and eliminating the threat of default.
The accord between Cyprus and the “troika” representing international lenders was reached in overnight talks in Brussels and ratified by finance ministers from the 17-nation euro area.
“It’s in best interest of the Cyprus people and the European Union,” Cyprus President Nicos Anastasiades told reporters.
Brussels (AFP) - Greece will restart crunch talks with its creditors on Thursday in a bid to save Athens from default, hours after Prime Minister Alexis Tsipras lashed out at lenders for rejecting his reform plans.
Seoul (AFP) - North Korean leader Kim Jong-Un said nuclear weapons -- not negotiating skills -- secured what he described as a "landmark" agreement this week with South Korea to end a dangerous military standoff.
BERLIN/ATHENS — Germany’s parliament approved a third bailout for Greece on Wednesday after Finance Minister Wolfgang Schaeuble argued the country should get “a new start,” while in Athens the government agonized over whether to call a snap election.
The Bundestag’s vote cleared one of the final obstacles to Greece getting funding so that it can make a 3.2 billion euro debt repayment to the European Central Bank on Thursday.
But a sizeable number of conservative lawmakers rebelled against Chancellor Angela Merkel, objecting to pouring yet more billions into Greece.
Greece reached an accord with creditors on the terms of a third bailout, paving the way for national parliaments to vote on the deal before an Aug. 20 payment falls due to the European Central Bank.
After almost two weeks of intensive talks, the four institutions representing Greece’s creditors — the ECB, the International Monetary Fund, the European Commission and the European Stability Mechanism rescue fund — forged an initial agreement on measures from pension changes to taxes that will unlock about 85 billion euros (US$94 billion) in funds for Greece.
Brussels (AFP) - Greece early Friday laid out details of a new bailout plan to save it from the brink of financial collapse, offering a pensions overhaul and tax hikes in return for debt relief and a rescue loan from the eurozone.
German Chancellor Angela Merkel has worked out a deal with Spain to rescue its banks.
Global equity markets and commodities, especially gold and silver, have cheered the news.
However, the bold market has let out a big yawn. The yield on Spanish 10-year treasuries dropped less than 3 basis points to 6.281%, hardly a sustainable rate.
Please consider Germany finalizing face-saving aid deal for Spain