Tag: EU-IMF

• Monday, December 12th 2011 - 04:33 UTC

  EU deal ‘is part of the solution, but not the solution’ says IMF chief economist

  

  The agreement reached by European countries for deeper economic integration was a step in the right direction but not a complete solution for the Euro zone's debt crisis, International Monetary Fund (IMF) chief economist Olivier Blanchard said.

• Wednesday, November 30th 2011 - 06:00 UTC

  Euro zone ministers looking to the IMF to help boost rescue fund

  

  Euro zone ministers agreed on Tuesday to ramp up the firepower of their rescue fund but couldn't say by how much and raised the possibility of asking the IMF for more help after Italy's borrowing costs hit a Euro lifetime high of nearly 8%.

• 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 15th 2011 - 18:35 UTC

  G20 ministerial meeting puts all its weight behind the coming EU summit

  

  A European Union summit later this month will agree “decisive” measures to tackle the Euro zone debt crisis, the French finance minister announced on Saturday.

• Saturday, October 15th 2011 - 04:25 UTC

  Developing economies proposal to double size of IMF shot down by main members

  

  Proposals to double the size of the IMF as part of a broader international response to Europe's debt crisis immediately ran into resistance from the United States and others, burying the idea for now and firmly putting the onus back on Europe.

• Friday, September 23rd 2011 - 07:33 UTC

  Greek default would expose European banks in 300 billion Euros

  

  History's first sovereign default came in the 4th century BC, committed by 10 Greek municipalities. There was one creditor: the temple of Delos, Apollo's mythical birthplace.

• Friday, July 15th 2011 - 05:54 UTC

  Italian parliament does its homework and approves sweeping austerity budget

  

  Italy's upper house of parliament has agreed to a sweeping austerity budget in a move intended to allay concerns over a possible bailout. Meanwhile, Greece must come to terms with another ratings downgrade.

• Tuesday, July 5th 2011 - 05:36 UTC

  Spain next candidate to request major aid package, say London bookies

  

  Following the second rescue of Greece, Spain is the next candidate to request a major financial aid package according to William Hill one of the largest bookmakers in the United Kingdom.

• Monday, July 4th 2011 - 18:05 UTC

  Redefining ‘default’ so that private banks can roll over Greek debt

  

  Ratings agency Standard and Poor's warned on Monday that efforts to bailout Greece involving private banks could amount to a debt default even as Brussels sees progress being made in resolving the crisis.

• Monday, July 4th 2011 - 04:48 UTC

  Greece warned aid package means significant losses of “sovereignty” and jobs

  

  Euro zone finance ministers have approved a 12 billion euro instalment of Greece's bailout, but signalled that the nation must expect significant losses of sovereignty and jobs.