Tag: Greece

• Saturday, September 10th 2011 - 06:04 UTC

  Germany prepares to support banks exposed to a possible Greek default

  

  Germany’s Chancellor Angela Merkel government is preparing plans to shore up German banks in the event that Greece fails to meet the terms of its aid package and defaults, three coalition officials said.

• Thursday, July 28th 2011 - 20:30 UTC

  Second rescue plan “too tough for Greece, too light for private creditors”

  

  Representatives of leading emerging market countries at the IMF have warned the Fund's management against pouring more large sums of money into Greece's second bailout, the Financial Times reported on Thursday.

• Friday, July 22nd 2011 - 00:25 UTC

  Paris-Berlin soften rescue terms admit “selective default” and announce Euro IMF

  

  Euro zone leaders agreed at an emergency summit on Thursday to give their financial rescue fund sweeping new powers to help Greece overcome its debt crisis and prevent market instability from spreading through the region.

• Thursday, July 14th 2011 - 22:53 UTC

  Global economic prospects fragile and downside risks higher, says IMF

  

  The International Monetary Fund called on emerging G-20 economies for a rapid macroeconomic policy tightening and demand rebalancing, while “pragmatic use of macro-prudential tools may be needed to manage large capital inflows”.

• Thursday, July 14th 2011 - 07:11 UTC

  Private sector involvement fundamental for Greek bailout, says IMF

  

  The IMF said private sector involvement was fundamental to a Greek bailout and urged Athens to move faster on fiscal and structural reforms to avoid debt default.

• Tuesday, July 12th 2011 - 07:01 UTC

  EU digs in to defend Euro: lower costs of aid packages and beefs up stability fund

  

  European Union finance ministers pledged to beef up a rescue package for troubled economies such as Greece as they went to battle to contain debt crisis contagion threatening to engulf Silvio Berlusconi’s Italy and Socialist Spain.

• Monday, July 11th 2011 - 18:12 UTC

  Euro-confidence crisis contagion reaches Italy and again attacks Spain

  

  European finance chiefs will consider how to dig Greece out of its financial hole just as markets batter the bonds of Spain and Italy, opening a new front in the debt crisis.

• 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.

• Tuesday, July 5th 2011 - 05:36 UTC

  Spain next candidate to request major aid package, say London bookies

  

  Following the second rescue of Greece, Spain is the next candidate to request a major financial aid package according to William Hill one of the largest bookmakers in the United Kingdom.

• 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.