Pages

Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros

Showing posts with label european union. Show all posts
Showing posts with label european union. Show all posts

Saturday, January 26, 2013

Head of European Central Bank sees recovery; US economist sees risk ahead ...


AFP

Head of European Central Bank sees recovery; US economist sees risk ahead ...
Washington Post
GLASS HALF FULL: European Central Bank chief Mario Draghi forecast a recovery for European Union countries during the second half of the year, and spoke of a “restored sense of relative tranquility.” He acknowledged that none of that is being realized ...
Merkel worried about currency manipulation, JapanReuters
Bankers, policymakers say Europe's crisis not overWTAQ
World's 1 percent gather at Davos as Greek austerity crisis spirals out of controlGlobalPost (blog)

all 72 news articles »

READ THE ORIGINAL POST AT www.washingtonpost.com

Wednesday, October 24, 2012

Greece reportedly given more time to fix ailing state budget

Greece's international creditors have granted it two more years to reign in its public deficit, a German newspaper has reported. Citing a draft deal it said Greece will still receive its next trance of bailout aid.

READ THE ORIGINAL POST AT www.dw.de

Tuesday, October 16, 2012

Recession-hit Greece needs hope to fight 'extremism': Antonis Samaras


Scrape TV

Recession-hit Greece needs hope to fight 'extremism': Antonis Samaras
Economic Times
ATHENS: Recession-hit Greece needs hope -- and a shot of EU-IMF loans -- to fight "extremism and populism" that threaten the fabric of its society, Prime Minister Antonis Samaras said on Monday. "No economic development plan can succeed if society ...
Expert Opinion On Greece's Illusions And Euro Prospects«Market Leader» - news and previews making you rich.
Malaysia, Which Refused IMF Aid, Says Greece Needs TimeCNBC.com
IMF backs request for more time from Greece despite it not actually being ...Scrape TV
Europolitics.info -World Socialist Web Site
all 29 news articles »

READ THE ORIGINAL POST AT economictimes.indiatimes.com

Friday, September 14, 2012

Press Watch, September 14

The winding road toward approval of the 11.5 billion euro budget cuts package and various developments that might help inject liquidity into the Greek economy dominated the headlines of Athens dailies.

A 1.4 billion loan from the European Investment bank was intensely covered. About 750 million of that will be disbursed immediately and the rest will be given in installments through next March.

READ THE ORIGINAL POST AT www.athensnews.gr

European ministers discuss Greece debt extension





NICOSIA, Cyprus (AP) — Greece may get more time to cut its budget, its creditors indicated Friday in another sign of increasing flexibility and optimism across the 17 countries that use the euro, while Spain appeared to be inching closer to making a formal request for financial assistance.

The new Greek coalition government is seeking a two-year extension to meeting a budget reduction program to 2016, as the country's recession is proving worse than anticipated at the time the program was negotiated.

Jean-Claude Juncker, the head of the eurogroup of finance ministers, told a press briefing following an informal meeting in the Cypriot capital, that the report from the "troika" of the European Union, European Central Bank and the International Monetary Fund is unlikely to be ready before the beginning of October, pushing on a decision on Greece's bailout loans into the second half of October.

The ECB bond-buying plan, the creation of a new government in Greece following two elections and a German court ruling in favor of Europe's new bailout fund have all calmed markets and politicians nervous at the eurozone's debt problems.

"De Guindos also informed the eurogroup today that the Spanish government intends to adopt a national reform program by the end of September based on recommendations of the European Union, with very clear commitments and precise timetables," Olli Rehn, the European commissioner for monetary affairs, said.


READ THE ORIGINAL POST AT www.sfgate.com

Greece has another month before debt assessment

German Finance Minister Wolfgang Schuble, right, talks to the Managing Director of IMF Christine Lagarde prior of the Informal European economic and financial affairs council in capital Nicosia, Cyprus, Friday, Sept. 14, 2012. European finance ministers are gathering in Cyprus for two days of discussions about the debt crisis and the latest developments in Greece and Spain. (AP Photo/Dimitri Messinis)Jean-Claude Juncker, the head of the eurogroup of finance ministers, says Greece will not learn whether it's done enough to get its next batch of bailout cash for at least a month.



READ THE ORIGINAL POST AT news.yahoo.com

European Ministers Debate Bailouts

Euro-zone finance ministers indicated they may consider giving Greece more time to meet its budget goals but ruled out additional aid for the country, while urging Spain to come clean on its overall financing needs.

READ THE ORIGINAL POST AT online.wsj.com

Euro ministers to discuss giving Greece more time

German Finance Minister Wolfgang Schuble, right, talks to the Managing Director of IMF Christine Lagarde prior of the Informal European economic and financial affairs council in capital Nicosia, Cyprus, Friday, Sept. 14, 2012. European finance ministers are gathering in Cyprus for two days of discussions about the debt crisis and the latest developments in Greece and Spain. (AP Photo/Dimitri Messinis)Greece may be given some more breathing room to meet its bailout commitments but no more money, European finance ministers indicated Friday as they gathered in Cyprus for a top-level meeting.



READ THE ORIGINAL POST AT news.yahoo.com

Greece may get more time to meet commitments

International Monetary Fund (IMF) Managing Director Christine Lagarde leaves the presidential palace after meeting with Cyprus' president Dimitris Christofias, unseen, in capital Nicosia, Cyprus, Thursday, Sept. 13, 2012. Lagarde is in Cyprus for an Informal European economic and financial affairs council. (AP Photo/Petros Karadjias)Greece may be given more time to meet its bailout commitments if the country's recession turns out worse than expected, but no more money will be provided by its euro partners, Dutch finance minister Jan Kees de Jager said Friday.



READ THE ORIGINAL POST AT news.yahoo.com

Greece may get more time to meet commitments, but Dutch finance minister ...


San Francisco Chronicle

Greece may get more time to meet commitments, but Dutch finance minister ...
Washington Post
NICOSIA, Cyprus — Greece may be given more time to meet its bailout commitments if the country's recession turns out worse than expected, but no more money will be provided by its euro partners, Dutch finance minister Jan Kees de Jager said Friday.
Dutch Finance Minister: Greece May Get More Time for Budget Goals, Not More ...Fox Business

all 65 news articles »

READ THE ORIGINAL POST AT www.washingtonpost.com

IMF's Lagarde discusses Cyprus bailout, gives little away


swissinfo.ch

IMF's Lagarde discusses Cyprus bailout, gives little away
Reuters
Euro zone minnow Cyprus, with a GDP of just 17 billion euros, asked for aid in June to rescue its largest banks, heavily exposed to Greek debt. Talks with the European Commission, the IMF and the European Central Bank, known as the troika, have been ...
Greece may get more time to meet commitmentsSan Antonio Express
Euro ministers meet to discuss rescue effortsMacon Telegraph (blog)
Lagarde and Draghi in Cyprus for crunch ECOFIN meetingFamagusta Gazette
Financial Mirror
all 117 news articles »

READ THE ORIGINAL POST AT in.reuters.com

Mark Rutte building Dutch coalition





Work to build a new ruling Dutch coalition started Thursday, after conservative leader Mark Rutte bucked a European trend by winning an election despite pushing through tough austerity measures to counter the continent's devastating debt crisis.

Firebrand populist Geert Wilders was hammered at the polls, losing nine of his Freedom Party's 24 seats after campaigning to pull the Netherlands out of the 27-nation European Union and dump its shared currency, the euro.

Dutch voters clearly chose to reinforce pro-European measures.

Since Europe's debt crisis erupted in 2009 and plunged the continent into the economic doldrums, longtime Italian leader Silvio Berlusconi quit, Greece's government fell and French President Nicolas Sarkozy - a conservative like Rutte - was voted out of office.


READ THE ORIGINAL POST AT www.sfgate.com

Thursday, September 13, 2012

German Court Approves Rescue Fund


Wall Street Journal

German Court Approves Rescue Fund
Wall Street Journal
By HARRIET TORRY and GEOFFREY T. SMITH Germany's highest court cleared the way for the euro zone's permanent bailout mechanism to go ahead. Dow Jones's Jenny Paris and Martin Essex discuss what the court ruling means and how markets reacted to the ...
Euro hits highest since Mid-May on German rulingMarketWatch
Stocks, euro gain on German ruling; Fed in focusReuters
Euro rises to 4-month high on German rulingThe Associated Press
Economic Times
all 4,079 news articles »

READ THE ORIGINAL POST AT online.wsj.com

Greece: Strikes flare as coalition government struggles to clinch new ...


AFP

Greece: Strikes flare as coalition government struggles to clinch new ...
Washington Post
ATHENS, Greece — A fresh wave of anti-austerity strikes hit Greece Wednesday as the leaders of the governing coalition remained unable to finalize further spending cuts for the coming two years without which the country will lose its vital rescue loans.
Greece revs up privatization drive to sway troikaReuters
Greece faces more anti-austerity strikes, protestsThe Associated Press
Greece Aid Decision May Be Delayed to November - EU SourcesWall Street Journal

all 483 news articles »

READ THE ORIGINAL POST AT www.washingtonpost.com

Wednesday, September 12, 2012

Greece faces more strikes, no austerity deal yet

A street vegetable vendor discusses Greece's crisis with a man as in the background is seen a protest outside the ministry of Finance, in central Athens, on Wednesday, Sept. 12, 2012. A fresh wave of anti-austerity strikes hit Greece Wednesday as the leaders of the governing coalition struggled to finalize further spending cuts for the coming two years — without which the country will lose its vital rescue loans.(AP Photo/Petros Giannakouris)A fresh wave of anti-austerity strikes hit Greece Wednesday as the leaders of the governing coalition remained unable to finalize further spending cuts for the coming two years without which the country will lose its vital rescue loans.



READ THE ORIGINAL POST AT news.yahoo.com

Greece revs up privatization drive to sway troika


AFP

Greece revs up privatization drive to sway troika
Reuters
ATHENS (Reuters) - Greece kickstarted a stalled privatization drive on Wednesday to appease international lenders, saying it would start the sale of 29 percent of one of its most profitable companies - gambling monopoly OPAP - next week. Inspectors ...
Greece faces more anti-austerity strikes, protestsThe Associated Press
Greece Aid Decision May Be Delayed to November - EU SourcesWall Street Journal

all 473 news articles »

READ THE ORIGINAL POST AT www.reuters.com

Greece revs up privatisation drive to sway troika


Business Recorder

Greece revs up privatisation drive to sway troika
Reuters
ATHENS, Sept 12 (Reuters) - Greece outlined a plan to sell one of its most profitable state-controlled companies, gambling monopoly OPAP, reviving a stalled privatisation drive to appease international lenders. Inspectors from the troika of European ...
Greece faces more anti-austerity strikes, protestsThe Associated Press
Greece Aid Decision May Be Delayed to November - EU SourcesWall Street Journal

all 406 news articles »

READ THE ORIGINAL POST AT in.reuters.com

Holland's likely new coalition will treat EU with caution

Prime minister Mark Rutte's centre right VVD party running neck-and-neck with Diederik Samsom's Labour party in polls

Two Dutch centrist parties are preparing to stitch up a new left-right coalition following an early general election being closely watched across Europe because of its potential impact on responses to the euro crisis and the Franco-German split over austerity versus growth policies.

At the end of a volatile campaign that has seen hard-left anti-European socialists top the polls, traditionally powerful Christian democrats wiped out, and the social democrats of the Dutch Labour party slumping, it was the latter who were making the political weather, staging a remarkable comeback to rival the main governing party as election victors.

The campaign has revolved around Europe and austerity after the minority centre-right coalition of Prime Minister Mark Rutte collapsed in April after less than two years because of disputes over spending cuts needed to meet EU budget deficit targets next year.

Rutte's centre-right VVD party was running neck-and-neck with the Labour party whose new leader, Diederik Samsom, has emerged as the star of the election. Pundits predicted a new coalition of Labour and the VVD with around 70 of the 150 seats at stake, requiring a third junior coalition partner.

The hard-left socialists were tipped to come third, with the far-right anti-immigration maverick, Geert Wilders (pictured), expected to lead his Freedom party to fourth place. Both Wilders and the socialists have waged an anti-austerity, anti-EU campaign, with Wilders's anti-Muslim and anti-immigrant activism playing a much lesser role because of the domination of economic issues and budget cuts.

Samsom has quickly emerged as a prime-ministerial contender due to his strong television performance in the campaign debates. Most polls still predict Rutte's VVD will emerge as the marginal winner, meaning he would be first choice for prime minister. Power politics in the Netherlands get under way in the wake of rather than before an election because of the coalition system and the highly fragmented party spectrum. The horsetrading will start today and the formation of a government could take months.

If, as expected, a Lib-Lab partnership is the basis of the new government, the key sticking points will be over the pace, scale and location of spending cuts and tax rises. There could be disputes over the ongoing attempts to stabilise the euro and Holland's participation in bailing out weaker eurozone countries. Rutte received much criticism during the campaign for declaring on television that Greece would not get another euro of Dutch money.

The outgoing Rutte government was closely allied with Germany in taking a hawkish line on austerity and dictating tough terms to bailout beneficiaries. But his minority coalition collapsed when it emerged that the Netherlands also needed to fill a huge funding gap to meet EU-set budget deficit targets by next year.

Wilders, propping up the minority government in parliament, vetoed the welfare cuts needed to meet Brussels' targets.

In the expected new coalition, Labour will argue for slower spending cuts than Rutte, will take a softer line on eurozone bailouts, and also seek to temper the austerity, tilting the balance of power in the eurozone towards President François Hollande's socialists in France and away from Chancellor Angela Merkel in Berlin.

The two biggest parties, if joined in a coalition, will need to agree on raising the retirement age, on how to reform the most generous system of mortgage tax relief in Europe, on health, social security and other welfare cuts, all to meet EU budget targets in one of the wealthiest countries in Europe with some of the lowest unemployment.

The likeliest outcome of the election will be to demonstrate that the Dutch have turned much more wary of the EU, albeit keen to keep the union and the euro.


guardian.co.uk © 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds


READ THE ORIGINAL POST AT www.guardian.co.uk

Greece Faces More Anti-Austerity Strikes, Protests


Deutsche Welle

Greece Faces More Anti-Austerity Strikes, Protests
ABC News
A fresh wave of anti-austerity strikes hit Greece Wednesday as the leaders of the governing coalition struggled to finalize further spending cuts for the coming two years — without which the country will lose its vital rescue loans. State hospital ...
Is the US election keeping Greece in the euro?CNN
Greece's Samaras meets with ECB's DraghiMarketWatch

all 362 news articles »

READ THE ORIGINAL POST AT abcnews.go.com

Dutch vote in election set to be dominated by pro-European parties

Polls show Liberals and Labour ahead, dispelling concerns radical eurosceptics might gain sway in a core eurozone country

Mainstream pro-European parties look set to dominate the Dutch parliamentary election on Wednesday, dispelling concerns that radical eurosceptics might gain sway in a core eurozone country and push to quit the European Union or flout its budget rules.

But the Netherlands is likely to remain an awkward, tough-talking member of the single currency area, strongly resisting transfers to eurozone debtors, regardless of whether prime minister Mark Rutte's Liberals or the centre-left Labour party of Diederik Samsom win the most seats.

Opinion polls on Tuesday showed the Liberals and Labour on 36 seats each or the Liberals fractionally in front, with the hard-left Socialists and the far-right anti-immigration Freedom party fading in third and fourth place respectively.

That makes it more likely, though not certain, that Rutte, with the strongest international profile, will stay as prime minister.

Early morning commuters at Amsterdam's central train station were among the first to vote.

Maike Stukkeheim, an artist, said: "I had a hard time choosing who to vote for, in the end I voted Socialists. I don't particularly like them but I wanted to vote left. I think it's (the political landscape0 getting more and more rightwing, more conservative."

The final days of campaigning turned into a two-horse race between Rutte, 45, a former Unilever human resources manager dubbed the "Teflon" prime minister because of his ability to brush off disasters, and the energetic Samsom, 41, an ex-Greenpeace activist whose debating flair wowed voters.

Both parties have played down talk that they will end up in coalition, together with one or two smaller parties, but parliamentary arithmetic suggests this is the most probable outcome given a highly fragmented political landscape.

But about a fifth of the 12.5 million voters say they are undecided, leaving room for surprises.

The Netherlands is one of the few triple-A rated countries left in Europe and a longstanding ally of Germany in demanding strict adherence to fiscal discipline. The vote is seen as a barometer of northern European stamina both for austerity and for bailouts to keep the single currency bloc intact.

Thrifty Dutch taxpayers are frustrated by demands for belt-tightening at home, particularly the steady erosion of their cherished welfare state and pensions, while stumping up billions of euros to rescue what they see as profligate budget sinners.

"People have become negative about Europe because we give so much money to Greece and other countries and at the same time we are aware of the fact that we badly need money here to pay for schools, for the army and everything," Jaap Paauwe, a professor of management at Tilburg University, told Reuters.

With the focus on the eurozone crisis and its impact on the domestic economy, Europe took centre-stage during the campaign.

Employers' groups representing big businesses such as electronics giant Philips as well as small and medium-sized firms that form the backbone of the economy ran a campaign highlighting the benefits of EU membership.

The main employers' group hung a banner outside its head office in The Hague proclaiming: "Vote for Europe and your job."

In a pamphlet distributed to voters entitled "The Netherlands earns its living from Europe", business groups said the export-dependent economy would lose €90bn (£72bn) a year in sales without the euro and the EU's internal market.

In contrast, one of the biggest unions posted a cartoon on its website showing the electoral battleground as the last chance saloon with caricatures of Rutte and his allies stalking the saloon bars in the wild west.

Fears over Europe initially played in favour of the two main populist parties, particularly the Socialist party which a month ago was either leading or a close second in opinion polls.

The Socialists have waned largely because of the dismal showing of their leader Emile Roemer, a former teacher, in an almost nightly marathon of television debates.

Geert Wilders, leader of the anti-Islam Freedom party which is calling for the Netherlands to quit the euro and the EU, has also lost support.

Some of his followers are disappointed that he squandered his real power as Rutte's chief ally in parliament when he brought down the government in April by refusing to support another package of budget cuts.


guardian.co.uk © 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds


READ THE ORIGINAL POST AT www.guardian.co.uk