Tag: ECB

• Saturday, November 19th 2011 - 05:51 UTC

  Monti ensures support for techno cabinet, tells Italians not to blame others for the crisis

  

  Italian Prime Minister Mario Monti on Friday won a final parliamentary confidence vote granting full power to his new government after pledging to spur growth and reduce debt in the euro-region’s third-largest economy.

• Saturday, November 19th 2011 - 05:44 UTC

  Greece submits austerity budget, but political differences surface in coalition

  

  Greece's new government took a first step on Friday towards meeting terms of an international bailout needed to avoid bankruptcy, submitting a budget bill that foresees no new austerity measures next year as long as reforms are enacted.

• Friday, November 18th 2011 - 21:35 UTC

  Controversy over the ECB role remains at the heart of the Euro crisis

  

  European Central Bank chief Mario Draghi told Euro zone governments on Friday to act fast to get their rescue fund up and running, expressing exasperation at their lack of progress in response to an escalating debt crisis.

• Monday, October 31st 2011 - 20:12 UTC

  For Euro aid package to work “all elements must be implemented” says Germany

  

  The package of measures agreed by European leaders this month to stem their debt crisis will only work “if all elements are implemented”, German Deputy Finance Minister Joerg Asmussen said in an interview Monday.

• Saturday, October 29th 2011 - 03:24 UTC

  Trichet warns Euro crisis ‘isn’t over’; calls for precise, quick enforcement of deal

  

  European Central Bank President Jean-Claude Trichet said in an interview in a German newspaper to be published on Sunday that the Euro zone sovereign debt crisis was not yet over and that it was too early for the all-clear signal.

• Thursday, October 27th 2011 - 06:05 UTC

  EU leaders reach a deal on Greek debt and boosting bailout fund to 1.4 trillion

  

  European Union leaders announced an agreement early Thursday in Brussels on debt crisis measures including a hard-fought deal with private sector investors to write down Greek bonds by 50%.

• Wednesday, October 26th 2011 - 15:22 UTC

  Strong support for Merkel ahead of the Euro bail out summit

  

  Germany's Bundestag lower house of parliament approved on Wednesday a motion to strengthen the Euro zone rescue fund via leveraging, providing Chancellor Angela Merkel with the mandate she needs to negotiate at a key Euro summit in Brussels.

• Friday, September 9th 2011 - 15:49 UTC

  ECB sovereign bond purchasing policy splits ECB; Germans quit in protest

  

  The European Central Bank in Frankfurt confirmed in a Friday afternoon statement that its chief economist and executive board member Jürgen Stark had resigned “due to personal reasons.”

• Thursday, August 25th 2011 - 06:13 UTC

  Growing dissent in German government over ECB purchase of sovereign bonds

  

  The German president has fueled concerns of a split in Chancellor Angela Merkel's Christian Democrats after he criticized a move by the European Central Bank to resume buying Italian and Spanish sovereign bonds.

• Thursday, August 4th 2011 - 20:20 UTC

  Euro zone resumes bond purchases amid fears of growing crisis contagion

  

  European Central Bank (ECB) announced Thursday it will offer a fresh round of loans to banks (*) in light of continuing fears about the Euro-zone debt crisis. ECB president Jean Claude Trichet said that economic uncertainty was “particularly high”'.