The EU's top economic official Olli Rehn said Monday that Ireland could find "room for maneouvre" on bailout repayment terms and conditions, just not for its 2011 commitments."It is essential to respect the plan... especially for 2011," said EU commissioner for economic affairs Rehn of the international agreement for a 67.5-billion-euro bailout signed in December with the EU and the International Monetary Fund."But concerning the outer years, there is more room for manoeuvre," he admitted.
MADRID (Reuters) - EU Economic and Monetary Affairs Commissioner Olli Rehn said on Monday he expects euro zone members to respect their commitments regarding direct bank recapitalizations as agreed at a summit in June. Rehn was speaking in Madrid after a meeting with Spanish Economy Minister Luis de Guindos. (Reporting By Sarah Morris; Writing by Tracy Rucinski; Editing by Nigel Davies)
European leaders gave Greek Prime Minister Alexis Tsipras a straightforward choice on Sunday: disown his principles or quit the euro.
Euro-area leaders presented Tsipras with a laundry list of unfinished business from previous bailouts he’d pilloried in opposition and during six turbulent months in office. They gave him three days to enact their main demands into Greek law in exchange for the third bailout in five years.
If Tsipras misses that deadline, Greece may be suspended from the currency union, Finnish Finance Minister Alexander Stubb said.