Tag: bailout

• Thursday, July 14th 2011 - 07:11 UTC

  Private sector involvement fundamental for Greek bailout, says IMF

  

  The IMF said private sector involvement was fundamental to a Greek bailout and urged Athens to move faster on fiscal and structural reforms to avoid debt default.

• Monday, June 27th 2011 - 15:00 UTC

  Soros: EU on verge of economic collapse; some countries will have to exit the Euro

  

  US/UK Hungarian born billionaire investor George Soros says a country will eventually exit the Euro zone and urged policymakers on Sunday to come up with a “plan B” that could rescue the European Union from looming economic collapse.

• Thursday, April 7th 2011 - 09:11 UTC

  Portugal admits the facts, formally requests a bailout from the EU

  

  Portugal's caretaker government said on Wednesday it had decided to seek financing from the European Union in an abrupt turnaround after resisting a bailout for months despite sharply deteriorating financial conditions.

• Tuesday, May 11th 2010 - 03:35 UTC

  Euro Support Package Approved by Soaring Global Markets, but Doubts Linger

  

  Global stock markets soared after the European Union and International Monetary Fund intervened to stop the Greek debt crisis spreading and support the weakened Euro.

• Monday, May 10th 2010 - 05:35 UTC

  EU Reacts and Unveils Package of 962 Billion US Dollars to Bolster the Euro

  

  European leaders unveiled an unprecedented loan package worth almost one trillion US dollars and a program of bond purchases in an attempt to bolster the Euro that has become highly vulnerable because of the Greek sovereign-debt crisis.

• Monday, May 10th 2010 - 03:29 UTC

  German Highest Court Rejects Attempt to Block Rescue Aid to Greece

  

  Germany's highest court on Saturday rejected a request by a group of academics to block the immediate release of Berlin's multi-billion-euro loan to debt-stricken Greece.

• Saturday, May 8th 2010 - 01:42 UTC

  EU Full Support for Euro (and Greece) to Fight Contagion: Creates Stabilization Mechanism

  

  Leaders of the 16 EU member states that use the Euro have approved a 110 billion Euro loan to Greece to prevent its debt crisis from spreading. European Commission President José Manuel Barroso said the Eurozone would do whatever it took to safeguard Greece's financial stability. In return for the three-year loan, Athens must cut public spending.

• Wednesday, May 5th 2010 - 06:07 UTC

  Obama Administration Pushes for Fee on Large Banks to Pay for Bailouts

  

  United States big banks should be charged a fee to pay for bailouts as it will make them less prone to reckless lending, US Treasury Secretary Timothy Geithner told lawmakers as he sought support for the proposal.

• Tuesday, May 4th 2010 - 05:29 UTC

  German Cabinet Approves Contribution to Greek Bail Out

  

  Germany's cabinet has approved its contribution to the Eurozone and IMF bailout of Greece. The German parliament is set to pass the legislation later this week to allow its loan—worth 22.4 billion Euros over three years—to be paid.

• Saturday, April 24th 2010 - 00:53 UTC

  First Tremors of Euro Seism: Greece Asks for Financial Rescue Package

  

  Greece has formally asked for the activation of an EU-IMF financial rescue package to help pull the debt-ridden economy out of its crisis. It had hoped that just the promise of EU support, agreed last month, would have been enough to reassure markets and help its recovery.