Germany and US Divided as Geithner Heads to Berlin

Financial Times

Germany and US Divided as Geithner Heads to Berlin CNBC.com Wolfgang Schäuble, Germany's finance minister, has dismissed speculation about any Spanish request for eurozone support in buying its sovereign bonds, and ruled out making more concessions to help Greece, on the eve of talks on the eurozone crisis with ... US Treasury secretary meeting German finance minister, ECB chief amid ...Washington Post Eurozone crisis live: Leaders pledge to protect euroThe Guardian all 59 news articles »

READ THE ORIGINAL POST AT www.cnbc.com

Romanian referendum invalid due to low turnout

BUCHAREST, Romania (AP) — Romanian election officials declared late Sunday that a referendum to impeach the nation's president on grounds that he overstepped his authority had failed because of low voter turnout.

READ THE ORIGINAL POST AT hosted2.ap.org

Eurogroup chair sees decisions soon in debt crisis

Eurogroup chair sees decisions soon in debt crisis

Associated Press


Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Updated 11:13 a.m., Sunday, July 29, 2012

German Chancellor Angela Merkel and Italian Premier Mario Monti "agreed that Germany and Italy will do everything to protect the eurozone" in a phone conversation Saturday, German government spokesman Georg Streiter said, a statement that was echoed by Monti's office.

Though they didn't pledge any specific action, the comments raised expectations that the ECB might step in to buy Spanish and perhaps Italian government bonds to lower the countries' borrowing costs, which have been worryingly high in recent weeks.

Countries that pledge to implement reforms demanded by the EU's executive Commission also would be able to tap rescue funds without having to go through the kind of tough austerity measures demanded of Greece, Portugal and Ireland, which have had to get international bailout packages.

[...] I must say that we have arrived at a decisive point ... the euro countries have arrived a point where we must make extremely clear with all available means that we are determined to ensure the financial stability of the currency union.

International debt inspectors are scrutinizing Greece's finances and its progress in implementing unpopular budget cuts and reforms demanded in exchange for the rescue loan program that is keeping the country afloat.

READ THE ORIGINAL POST AT www.sfgate.com

Troika staying until measures are finalised

The European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) troika will stay in Greece until a credible package of measures is drafted, in collaboration with the Greek government, IMF delegation chief Poul Thomsen told finance minister Yannis Stournaras.

Ministry sources said Thomsen informed the minister on this change of plans during a working dinner on Friday.

READ THE ORIGINAL POST AT www.athensnews.gr

Juncker: eurozone has no time to lose

Eurogroup chief Jean-Claude Juncker is saying in a German newspaper interview that Europe is "at a decisive point" in its battle against the debt crisis and will decide in the coming days what measures to take.

READ THE ORIGINAL POST AT news.yahoo.com

Germany's Merkel, Italy's Monti agree to do everything to protect eurozone; to ...

BBC News

Germany's Merkel, Italy's Monti agree to do everything to protect eurozone; to ... Washington Post BERLIN — The German and Italian leaders have pledged to do everything to protect the eurozone, adding to a string of assurances over recent days that Europe is determined to get a grip on the continent's debt crisis — but their governments again gave ... German support for Merkel's crisis handling erodes: pollReuters Merkel and Monti pledge to do everything to protect euro zoneCNBC.com Juncker: eurozone has no time to loseThe Associated Press AFP all 209 news articles »

READ THE ORIGINAL POST AT www.washingtonpost.com

Merkel, Monti: will do all to protect eurozone

Merkel, Monti: will do all to protect eurozone

Associated Press


Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Updated 08:13 a.m., Sunday, July 29, 2012

BERLIN (AP) — The German and Italian leaders have pledged to do everything to protect the eurozone, adding to a string of assurances over recent days that Europe is determined to get a grip on the continent's debt crisis — but their governments again gave no details of any action.

Another possibility might be for the eurozone's temporary rescue fund, the European Financial Stability Facility, to buy bonds — though Merkel's finance minister, Wolfgang Schaeuble, has dismissed talk that Spain might apply to the fund for such help.

Countries that pledge to implement reforms demanded by the EU's executive Commission also would be able to tap rescue funds without having to go through the kind of tough austerity measures demanded of Greece, Portugal and Ireland.

International debt inspectors are scrutinizing Greece's finances and its progress in implementing unpopular budget cuts and reforms demanded in exchange for the rescue loan program that is keeping the country afloat.

[...] a political crisis sparked by fierce rivalry among Greece's main political parties stalled the reforms for three months, and a three-party coalition finally emerged in June after two inconclusive elections.

READ THE ORIGINAL POST AT www.sfgate.com