Germany's ruling parties are to introduce a resolution in parliament blocking any further boost to the EU's bail-out machinery, vastly complicating Greece's rescue package and risking a major clash with the IMF.
It is possible if not likely we have to suffer through at least 11 more Groundhog days as Greece sets March 8 deadline for investors in bond swap.
Greece has set a March 8 deadline for investors to participate in its unprecedented bond swap aimed at sharply reducing its debt burden, according to a document outlining the offer.
A few hours ago, Greek lawmakers approved a reform law to unlock about €8.8 billion of rescue loans from the European Union and the International Monetary Fund. The law, which was a condition for further aid installments, passed easily with the solid backing of the three parties comprising Greece's ruling coalition, by 168 to 123 votes.
Germany's "Official Denial"
If you seek confirmation that Germany is actively trying to force Greece out of the Eurozone, strong evidence appears in the form of an "Official Denial"
Please consider Merkel Says Won't Force Greece Out of Euro
German Chancellor Angela Merkel said on Tuesday she did not want to see Greece being forced out of the euro, warning that this would have "unforeseeable consequences."
By Lamine ChikhiALGIERS (Reuters) - Three Algerian opposition parties have called for a boycott of elections in April after the government announced President Abdelaziz Bouteflika would run for a fourth term to extend his 15 years in power.
PARIS — German Finance Minister Wolfgang Schaeuble warned on Tuesday that failure to win the battle against youth unemployment could tear Europe apart, while abandoning the continent’s welfare model in favour of tougher U.S. standards would cause “revolution”.
Germany, along with France and Italy, backed urgent action to rescue a generation of young Europeans who fear they will not find jobs, with youth unemployment in the EU standing at nearly one in four, more than twice the adult rate.
Criticizing the structure of the U.S. Treasury’s $700 billion Troubled Asset Relief Program ((TARP)) that was created to rescue the nation’s financial industry, the Congressional Oversight Panel said in a report on Thursday that the foreign companies got greater benefit from the U.S. bailout program than U.S. companies realized from other countries' bailout programs.