ATHENS — Bitterly divided European officials were trying to salvage hopes Sunday of averting an imminent financial collapse in Greece, squaring off in a fresh round of talks over how or whether to give this Mediterranean nation its third bailout in five years.
BY: James Kanter BRUSSELS: European Union officials Thursday put a positive economic spin on the bloc's refugee crisis. In an economic forecast, officials predicted that the 3 million migrants expected by 2017 would provide at least a small lift — a net gain of perhaps a quarter of 1 per cent by that year to the European economy. With that prediction, the European Commission, the bloc's executive arm, used one of its periodic economic forecasts to wade into one of the most divisive issues Europe has faced in decades: migration.
Brussels (AFP) - European Union and Balkan leaders hold emergency talks on Europe's refugee crisis on Sunday amid threats from three frontline states to close their borders if northern EU countries stop accepting migrants.
By Benjamin Shepherd: Since the European Union’s (EU) founding in the early 1990s, the currency union has been criticized for being just that: A monetary union that attempts to embrace fragmented fiscal interests and concerns. And while this monetary union might have worked initially with its 12 core member states, there are now 23 countries using the euro while pursuing their own fiscal interests.
MOSCOW — Russia’s government has pushed the country into an economic crisis by not tackling its financial problems fast enough, former finance minister Alexei Kudrin said on Monday, warning the full effects would be felt next year.
Kudrin — a darling of investors who is credited with building Russia’s $170 billion worth of sovereign wealth funds — added that sanctions over Ukraine, not falling oil prices, were primarily behind the collapse of the rouble and warned that Russia risked seeing its debt downgraded to junk status in 2015.
A WEEK late and billions of euros short euro-zone leaders have knocked out a deal with Cyprus over its ongoing banking crisis. Charlemagne provides key details here. The agreement is significantly better than last week's hash in a few ways. Insured depositors will not face losses; instead stockholders will be cleaned out, bondholders will be bailed in, and uninsured depositors will face big losses:
BRUSSELS (Reuters) - EU leaders meet on Thursday at a summit where they will try to bridge deep differences over plans for a banking union. It will be the fourth time EU leaders have met this year and the 22nd summit held since the crisis erupted in Greece in late 2009. Diplomats expect no breakthroughs at the two-day gathering, with the agenda focused instead on longer-term efforts to retool the region's banks and economies. (Brussels newsroom)