European Financial Stability Facility
Cyprus
EU Bailout Cannot Be Excluded, Cyprus CB Governor Says
New Cyprus Central Bank Governor Panicos Demetriades did not exclude the possibility for Cyprus to seek entry to the European bailout mechanism (European Financial Stability Facility - EFSF), in a bid to support the recapitalization efforts by Cyprus Popular...
Economy
EU Officials Agree to Prepare for Greek Exit Scenario
Euro zone officials have agreed that each euro zone country must prepare an individual contingency plan in the eventuality that Greece decides to leave the single currency area, two euro zone officials said to Reuters on Wednesday.
The agreement was...
Economy
EFSF Bailout Fund Approves Greek Emergency Payment
Euro zone governments kept Greece afloat on Wednesday after agreeing on a payment of 5.2 billion euros from the region's bailout fund, despite opposition from some member states following the Greek election results.
After a conference call, the board of...