Tag: European Commission

• Tuesday, May 4th 2010 - 05:48 UTC

  European Central Bank Beefs Greek Rescue-Plan; Takes “Junk” Bonds as Collateral

  

  The European Central Bank (ECB) has moved to shore up the €110 billion EU/IMF rescue of Greece by offsetting the impact of the “junk” rating on the country’s debt.

• Wednesday, April 28th 2010 - 18:18 UTC

  IMF Warns of Greek Crisis Contagion; Germany Reluctant to Support Aid

  

  The head of the International Monetary Fund has warned that the crisis in Greece could spread throughout Europe. Dominique Strauss-Kahn said that every day lost in resolving Greece's problems risks spreading the impact “far away”.

• 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.

• Wednesday, April 21st 2010 - 16:48 UTC

  Ash-cloud cost airlines 1.7 billion; IATA calls for government compensation

  

  The International Air Transport Association (IATA) estimated that the Icelandic volcano crisis cost airlines more than 1.7 billion US dollars in lost revenue through Tuesday—six days after the initial eruption. For a three-day period (17-19 April), when disruptions were greatest, lost revenues reached 400 million USD per day.