Tag Archives: bailout
European Union leaders are meeting in Brussels to approve a common set of rules for managing the closure of failing euro zone banks in an orderly way. Under a plan agreed by finance ministers a 55bn-euro fund will be set up, financed … Continue reading
Michael Noonan, finance minister of Ireland, said Irish exit from its bailout rescue is a milestone but not the end of the road. Ireland has become the first euro zone nation to complete the lending deal put in place by … Continue reading
Jeroen Dijsselbloem, head of the Euro group, said euro zone finance ministers are losing patience with Greece, as the country submitted its 2014 budget. According to the budget, Greece will exit its six-year long recession next year with 0.6% growth.
Enda Kenny, Prime Minister of Ireland, said the republic is on track to exit its international bailout program by December. He told the Fine Gael party conference in Limerick that although fragile times lay ahead the economic emergency will be … Continue reading
Italy‘s near-bankrupt Alitalia was thrown a lifeline when its board members, including cautious top shareholder Air France-KLM, approved a capital increase. The move is a part of a plan led by the Italian government to bailout the company with 500 … Continue reading
Bostjan Jazbec, head of Slovenia‘s central bank, has said it will consider asking for outside help if the country’s funding costs stay high. He also said Slovenia’s GDP would shrink by 2.6% this year, more than April’s 1.9% forecast.
Greece has predicted that it will emerge from its six-year long recession next year, in a sign it may be finally recovering from its debt crisis. The Greek government made the forecast in a first draft of its 2014 budget, … Continue reading
According to official figures, the Irish Republic‘s economy has emerged from recession. The economy grew by 0.4% in the second quarter of the year, although this was much weaker than many economists had forecast. Economists had expected growth of at least 0.8%.
Antonis Samaras, Prime Minister of Greece, has said the debt-ridden country could return to pre-crisis living standards within six years. He said that, according to most experts, Greece will not need a couple of decades, not a couple of generations, … Continue reading
Representatives from the International Monetary Fund, the European Commission and the European Central Bank have begun their latest audit of Portugal’s economic health. A raft of reforms was promised by Portugal‘s leaders in return for its May 2011 bailout.