Tag: European Financial Stability Facility

• Friday, June 22nd 2012 - 07:39 UTC

  Political deal in Germany on the ESM; mini summit in Rome to rescue Spain

  

  The German government and opposition reached on Thursday a deal that will allow parliament to approve the European Stability Mechanism, ESM, next week, but Germany's top court may delay the rescue fund's start date, saying it needed time to study the treaty.

• Monday, January 23rd 2012 - 23:36 UTC

  IMF and Germany can’t agree on road map for Euro zone rescue

  

  IMF chief Christine Lagarde urged on Monday European governments to increase their financial firewall to prevent Greece’s troubles from ensnaring bigger countries like Italy and Spain.

• Tuesday, January 17th 2012 - 06:44 UTC

  S&P downgrades the European Stability Facility but willing to reconsider

  

  Credit ratings agency Standard and Poor’s downgraded the European Financial Stability Facility (EFSF) from “AAA” to “AA+,” although it does not rule out it would increase it again if it bolsters its funds, according to a communiqué released on Monday.

• 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 17th 2011 - 17:28 UTC

  Germany warns Greek bondholders will have to accept steeper ‘hair-cut’

  

  Germany lowered expectations of a breakthrough in the Euro zone's sovereign debt crisis next weekend, saying Sunday's EU summit will not produce a final solution, and kept up pressure on banks to accept bigger write-downs on Greek debt.

• Thursday, October 6th 2011 - 17:41 UTC

  ECB takes the first step of an anticipated major effort to bolster EU banks

  

  The European Central Bank is offering new emergency loans to banks to help steady the Euro zone's financial crisis. The new funding, worth about 40bn Euros would enable banks to draw down one-year loans.

• Wednesday, October 5th 2011 - 21:39 UTC

  Operation Fire Wall: IMF will also chip in funds to protect Spain and Italy

  

  The International Monetary Fund could buy Spanish or Italian bonds alongside the Euro zone bailout fund if needed, to help boost investor confidence in those countries, the IMF Europe head Antonio Borges said on Wednesday.

• Tuesday, September 20th 2011 - 21:33 UTC

  (Paymaster) Germany needs Parliament approval on deciding Euro zone bailouts

  

  Leading lawmakers in German Chancellor Angela Merkel's coalition have agreed a draft law on an enhanced Euro zone bailout fund to give a greater say to parliament in line with a court ruling earlier this month.