Tag: European Union

• Friday, May 7th 2010 - 05:36 UTC

  Greek Default “Is Not an Option” and “Never Has Been” Says IMF

  

  A default by Greece on its debt obligations is not and has never been an option, a spokeswoman for the International Monetary Fund (IMF) said on Thursday. A Greek “default is not on the table, has not been on the table” insisted IMF director of external relations Caroline Atkinson.

• Friday, May 7th 2010 - 05:33 UTC

  ECB Leaves Euro Policy Unchanged; European Leaders Set to Approve Greek Rescue

  

  European Central Bank president Jean-Claude Trichet faced down pressure for new moves to shore up the weakest Eurozone countries, but kept options open even as he said Spain and Portugal were “not Greece”.

• Thursday, May 6th 2010 - 19:34 UTC

  France Warns EC on Possible Resumption of Negotiations with Mercosur

  

  After the European Commission proposed the resumption of negotiations with Mercosur, France released a warning message to the European Commission and assured that—if the talks are reactivated—both French and European agriculture would be in danger of a potential damage.

• Thursday, May 6th 2010 - 19:32 UTC

  Spain Excludes Honduran President from Summit on Pressure from UNASUR

  

  Only days after several UNASUR (Union of South American Nations) representatives said they would not attend the Sixth Latin America, the Caribbean and the European Union Summit if Honduran President Porfirio Lobo was invited, the Spanish Government has decided to exclude him from the meeting, according to sources in the Brazilian Government.

• Thursday, May 6th 2010 - 03:00 UTC

  Bad Signal: Spanish Government and Opposition Remain on Collision Course

  

  The Spanish government and opposition made on Wednesday an attempt to join forces against the country's economic crisis amid international concern that Spain could be heading for a Greek-style meltdown.

• Thursday, May 6th 2010 - 00:20 UTC

  Greenpeace Condemns Spain's Fishing “Armada” for Plundering World Oceans

  

  Spain's fishing fleet, Europe's largest, is using massive European Union (EU) subsidies to “plunder” the oceans of the world, environmental group Greenpeace charged this week.

• Wednesday, May 5th 2010 - 23:03 UTC

  European Farmers up in Arms Against Resumption of EU/Mercosur Talks

  

  France’s main farmers’ organization, FNSEA, called Wednesday on President Nicolas Sarkozy to pressure upon the European Community to impede the re-launching of negotiations for a free trade agreement with Mercosur

• Wednesday, May 5th 2010 - 06:28 UTC

  EU Anticipates Further Regulation for Credit Rating Agencies

  

  A European Commissioner has warned it may be necessary to further regulate the role of credit rating agencies. Michel Barnier, in charge of revamping financial services, told the European Parliament he had been surprised by the rapid deterioration of Greece's rating.

• Wednesday, May 5th 2010 - 02:49 UTC

  EU Wants to Reactivate Negotiations with Mercosur for Association Agreement

  

  The European Commission (EC) has proposed to reactivate its negotiations with Mercosur, stagnant since 2004, with the objective of reaching an association agreement. In its weekly meeting, the EU executive decided to re-establish discussions with Mercosur since it considers “that an eventual pact could generate economic benefits for both parts,” according to an EC communiqué.

• Monday, May 3rd 2010 - 02:24 UTC

  Euro Zone and IMF Agree to 110 Billion Euro Aid for Greece; Summit in Brussels

  

  Euro zone members and the IMF have agreed to a 110 billion Euro (146.2 billion US dollars) three-year bailout package to rescue Greece's embattled economy. In return for the loans, Greece will make major austerity cuts which Prime Minister George Papandreou said involved “great sacrifices”.