Tag: European Union

• Tuesday, May 11th 2010 - 03:35 UTC

  Euro Support Package Approved by Soaring Global Markets, but Doubts Linger

  

  Global stock markets soared after the European Union and International Monetary Fund intervened to stop the Greek debt crisis spreading and support the weakened Euro.

• Monday, May 10th 2010 - 18:19 UTC

  Brazilian Contract for Jet Fighters, Another Chip in the EU/Mercosur Trade Talks

  

  French resistance to the resumption of Mercosur European Union trade talks caused great disappointment among the block’s members, but Brazil believes it has a strong bargaining chip for a greater opening of the European agriculture market: the several billions US dollars fighter planes contract for the Brazilian Air Force.

• Monday, May 10th 2010 - 05:35 UTC

  EU Reacts and Unveils Package of 962 Billion US Dollars to Bolster the Euro

  

  European leaders unveiled an unprecedented loan package worth almost one trillion US dollars and a program of bond purchases in an attempt to bolster the Euro that has become highly vulnerable because of the Greek sovereign-debt crisis.

• Monday, May 10th 2010 - 03:29 UTC

  German Highest Court Rejects Attempt to Block Rescue Aid to Greece

  

  Germany's highest court on Saturday rejected a request by a group of academics to block the immediate release of Berlin's multi-billion-euro loan to debt-stricken Greece.

• Saturday, May 8th 2010 - 01:42 UTC

  EU Full Support for Euro (and Greece) to Fight Contagion: Creates Stabilization Mechanism

  

  Leaders of the 16 EU member states that use the Euro have approved a 110 billion Euro loan to Greece to prevent its debt crisis from spreading. European Commission President José Manuel Barroso said the Eurozone would do whatever it took to safeguard Greece's financial stability. In return for the three-year loan, Athens must cut public spending.

• 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.