Market relief that Spain had secured European Union help to save its banking sector quickly turned to concern Monday, as investors began to question the mechanics of the €100 billion ($124.68 billion) loan package and whether the country could manage the extra debt or be forced ask for more help.
MADRID — Market relief that Spain had secured European Union help to save its banking sector quickly turned to concern Monday, as investors began to question the mechanics of the €100 billion ($124.68 billion) loan package and whether the country could manage the extra debt or be forced ask for more help.
LONDON — Cyprus’ bailout deal is the fifth agreed on so far in the 17-strong group of European Union countries that use the euro since the debt crisis began in late 2009.
Here’s a look at the rescue programs:
Inquiring minds are reading "Towards a Genuine Economic and Monetary Union" by the gang of four nannycrats: European commission president Herman Van Rompuy, ECB president Mario Draghi, José Manuel Barroso of the
European commission, and Jean-Claude Juncker, the leader of the 17-country
Don't expect any details. There aren't any. Instead the document consists of a wish list wrapped in a wordy package that says virtually nothing.
Inquiring minds are watching economic activity in Slovenia following an official denial regarding bailout possibilities as noted in Slovenia Rules Out Bailout; Translation: "Slovenia Bailout Coming Right Up"
Slovenia Unemployment and Youth Unemployment
NICOSIA — Cyprus was just hours away from a deal on Friday to raise billions of euros and unlock a bailout from the European Union that could avert financial meltdown and exit from the euro, its ruling party said.
There is cautious optimism that in the next few hours we may be able to reach an agreed platform
The remarks from the deputy leader came after Moscow had rebuffed requests from Nicosia for assistance to save Cypriot banks in which Russians have billions of euros at risk.
After markets closed on Friday, it was announced that Cyprus worked out a deal with the European Central Bank, European Commission, and the International Monetary Fund (“the Troika”). Here is a typical article reporting on the story.
(BRUSSELS) — Greece is on its way to getting the next installment of its much-needed bailout loans after finance ministers from the 17 European Union countries that use the euro agreed on a program to reduce the country’s debt. The first disbursement will take place Dec. 13, said Jean-Claude Juncker, head of the eurogroup of finance ministers, which made the decision early Tuesday. Mario Draghi, President of the European Central Bank, welcomed the agreement. “It will certainly reduce the uncertainty and strengthen confidence in Europe and in Greece,” Draghi said.