Tag: EU-led bailout

• Wednesday, July 6th 2011 - 22:27 UTC

  New IMF chief promises emerging markets a greater sway

  

  New IMF Managing Director Christine Lagarde pledged to push ahead with reforms to give fast-growing emerging markets greater sway at the global lender and said the world economy was on the rebound.

• 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, June 27th 2011 - 05:44 UTC

  Germany warns Greece: ‘no austerity plans approved, no release of funds’

  

  German finance minister Wolfgang Schaeuble warned that a veto of the Greek government's austerity plans by parliament this week could mean Athens will not receive a bailout tranche it needs to remain solvent.

• Sunday, May 22nd 2011 - 13:09 UTC

  Greece’s credit rating downgraded and risks a ‘sovereign default’

  

  Greece’s credit rating was cut on Friday three levels by Fitch Ratings, which said that even a voluntary extension of its bond maturities being studied by EU policy makers would be considered a default.