Tag: EU-IMF

• Wednesday, June 29th 2011 - 16:42 UTC

  Greek parliament approves austerity measures, preventing first Euro zone default

  

  Greece's parliament approved early Wednesday deeply unpopular austerity measures despite worsening violence, in a vote vital toward securing international funds and preventing the Euro zone's first sovereign default.

• Wednesday, June 1st 2011 - 08:34 UTC

  Mix of Belgian sacrifices and banks rolling over expiring bonds, proposal for Greece

  

  European Union’s top economic official said a solution to keeping Greece solvent is combining bold deficit cuts reminiscent of Belgian sacrifices in the 1990s and willingness by lenders to roll over expiring bonds, adapting what was done in Eastern Europe two years ago.

• Wednesday, May 18th 2011 - 16:41 UTC

  Greece warned it must redouble efforts otherwise (but following step is not clear)

  

  The IMF warned Greece it must redouble reform efforts to avoid derailing its fiscal program, key to dealing with a huge debt mountain.The sternest IMF warning since a 110 billion Euro EU/IMF bailout a year ago pulled the troubled Euro zone member back from the brink of bankruptcy was delivered as European officials raised the possibility of a Greek debt restructuring.

• Monday, April 11th 2011 - 23:50 UTC

  FT forecasts Spain will be next in seeking financial assistance

  

  The mix of high external indebtedness, the fragility of the financial sector and the probability of further declines in asset prices increase the probability of a funding squeeze at some point means that “Spain will be the next country to seek financial assistance from the EU and the International Monetary Fund”, argues one of the Financial Times respected columnists.

• Thursday, March 24th 2011 - 19:59 UTC

  Portugal has Euro zone on the brink; bail out package considered at EU summit

  

  EU leaders are grappling with a new Euro zone threat after Portugal's parliament rejected an austerity budget and PM Jose Socrates resigned. The vote means an international bail-out, similar to those accepted by Greece and the Irish Republic last year, is now far more likely.