Tag: eurozone crisis


Greece Pleads for Debt Relief From Eurozone and Germany

BRUSSELS (AFP) – Under pressure from the IMF, eurozone finance ministers will consider major debt relief and fresh aid for Greece on Monday despite the deep reservations of bailout-weary Germany. Ministers from the 19-member single currency bloc must confront the

Economist: Austria Should Leave the EU after Brexit

A respected economist has said that it is in Austria’s best interest to leave the European Union after Brexit due to the growing influence of poorer nations as a result of the loss of UK membership. Economics professor Hans-Werner Sinn is


Eurozone Ministers Seek To End Greece Bailout Row

(AFP) – Eurozone finance ministers met Monday to defuse a bitter rift between top EU and IMF officials over how strictly to hold Greece to the ambitious reform commitments made as part of its bailout. The eurozone 19 ministers are

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Greece Passes ‘Tough’ 2016 Austerity Budget

Greek lawmakers approved a “tough” 2016 budget early Sunday, forecasting near zero growth for 2015 and a small contraction next year for the debt-ridden country in its sixth year of austerity. The coalition government, which enjoys a narrow majority, managed

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Greece To Trouble Euro Zone For Decades

HELSINKI (Reuters) – Greece will be a headache for the euro zone for decades, Finland’s eurosceptic foreign minister said, and called for the International Monetary Fund to participate in the Greece’s new bailout package. “Unfortunately, this problem will be in

Greek debt crisis

Germany Profited €100 Billion From Greek Debt Crisis

Between 2010 and 2015 Germany profited from the ongoing Greek debt crisis to the sum of €100 billion, according to a new study. The billions consists of money saved by lower interest payments on funds the German government borrowed amid investor “flights

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Der Spiegel: Plans For Euro-Zone Tax Take Shape

From Der Spiegel: After the Greek bailout disaster, Paris, Berlin and Brussels want to reform the euro zone by creating an economic government and a special tax for the currency area. German Finance Minister Schäuble is in favor, but Chancellor

Greece Update: Run On Banks Risks Leaving Them Cashless

UPDATE: European Central Bank confirms it will maintain emergency liquidity assistance to Greek banks. – The most dramatic day yet in Greece’s months long economic crisis saw a run on banks and the confirmation of next Sunday’s referendum on a bailout deal.

Euro Architect Says Greece Should Quit Currency

Former French President Valery Giscard d’Estaing has said that Greece should leave the euro so it can devalue its currency and increase its economic competitiveness. Giscard, who notably presided over the Convention on the Future of the European Union that