Eurozone
Economy
Barroso: Pardoning of Greek Debt Won't Be Repeated!
This week's Eurozone agreement to remit 50% of the massive Greek state debt is "an absolutely unique and exceptional measure," stated EC President Jose Manuel Barroso.
In an interview for Portugese paper Expresso, the European Commission chief said that this...
Economy
Power Games Regarding Greek PSI and EFSF Role
The debate about the haircut of Greek debt has a new dimension, as a large proportion of banks involved in the negotiations expressed the view that the policymakers’ threat of a haircut by 60% would happen without the willingness...
Economy
Greece To Get Next Rescue Loan Batch From Eurozone
Finance ministers from the 17 countries that use the euro approved the payment of Greece’s next batch of bailout loans Friday, avoiding a potentially disastrous default, but acknowledged the country’s debt remained too high.
Greece’s debts are only one piece...
Economy
Eurozone Faces 'Critical Week' Over Debt Crisis: Papandreou
The eurozone faces its "most critical week" as leaders battle to reach a lasting solution to the debt crisis that has shaken the European currency, Greek Prime Minister George Papandreou said today.
The EU is under huge pressure to present...
Economy
Deutsche Bank Boss in Talks over Greek debt: Report
The head of Germany's biggest bank, Deutsche Bank, is conducting talks over a 50-percent write-down of Greek debt in his capacity as chairman of the global banking lobby, a newspaper reported Sunday.
Citing both government and banking sources, the mass...
Economy
Schaeuble: Euro-Zone Members Confident Of Resolving Greece's Woes
German Finance Minister Wolfgang Schaeuble said Saturday that euro-zone members were confident of resolving Greece's debt woes.
He also said G-20 finance ministers and central bank governors meeting in Paris acknowledged the efforts made by the euro zone to contain...
Greece
With Slovak Vote, Eurozone Gets New Debt Crisis Weapon
Slovakia finally ratified the eurozone bailout fund on Thursday, removing a major obstacle to the single currency area's battle against a raging debt crisis set to deal a heavy toll on Europe's banks.
Slovakia became the last country in the...
Economy
Slovakia Blocks Greek Rescue Fund
The Slovakian government has blocked plans to expand the European bailout plans, although international lenders are still expected to give Greece a loan next month.
According to Reuters, Slovakia is the only country not to agree to grant the European...
Economy
Euro Zone Postpones Greek Loan
Eurozone finance ministers have delayed a decision on giving Greece its next instalment of bailout cash.
It came after Greece said it would not meet this year's deficit cutting target, sending shares lower on Monday.
A meeting set for 13 October,...
Europe
Immigration, Financial Crisis Threaten Border-Free Europe
As Europe scrambles to contain the financial crisis in the eurozone, another effort to deepen European unity is also being challenged, the Schengen passport-free travel zone.
Immigration, lax controls, corruption and sovereignty worries are undermining dreams of border-free travel.
Europeans now...