Tag: Debt Crisis
The European Union remains in 2012 as China’s largest trading partner
The European Union (EU) maintained its position as China’s largest trading partner in 2012 despite a 3.7 percent decline in the volume of trade between the two regions, said the Chinese Minister of Commerce Chen Deming. In a press conference in the framework of the celebration of the National People’s Congress, the top legislature of [...]
The euro zone does his part and now expects a comment from the IMF and G20
The euro area now expected a gesture of G20 countries and the International Monetary Fund (IMF) to continue the fight against the debt crisis, after understanding that fulfilled its part to strengthen its financial rescue mechanism. After intense negotiations, the 17 countries of the Monetary Union agreed on Friday in Copenhagen provided with a “firewall” [...]
Greece may have 185,000 million new EU-IMF loans
Greece may have a new loan of 185,000 million euros from the European Union and the International Monetary Fund (IMF) for 2015, in addition to the 107,000 million forgiven by private creditors and the first loan package of 73,000 million provided since 2010. Taking into account the first loan in May 2010 and debt relief, [...]
IMF Approves A $28,000 million Euros Loans For Greece
The International Monetary Fund (IMF) said Thursday that it approved a new plan for four years credit assistance to Greece for up to 28,000 million euros, about 36,500 million dollars, following the agreement of the country with their private satisfy creditors. The Fund said that the Greek authorities may withdraw from and about 2,150 million [...]
Eurozone is about to deliver the first part of the second rescue of Greece
The euro zone is about to deliver on Wednesday the first part of the second rescue of Greece, said the president of the Eurogroup, Jean-Claude Juncker said in a statement. “All parliamentary procedures have been completed” to deliver “the first part, equivalent to 39,400 million,” Juncker said in a statement. Greece needs urgent funds to [...]
Four of Nineteen U.S. banks do not pass the “stress tests”
Four of the nineteen banks tested did not pass at least one of the criteria developed in the new tests conducted by the Federal Reserve (Fed) in a scenario of extreme financial crisis, said the U.S. central bank To those not eligible is Citigroup, one of the largest banks in the U.S., the Fed said [...]
Eurogroup rejected Spain’s deficit target but agrees to give more room
Finance ministers from the euro zone today rejected the deficit reduction target of 5.8% of GDP announced by Spain this year and demanded a greater effort to reach 5.3%, which also implies a relaxation compared 4.4% initially agreed with Brussels. “The figure previously announced (by Spain), 5.8% died,” he said after the meeting of the [...]
Eurozone agrees to ease Spain’s deficit target to 5.3% in 2012
The Eurozone agreed to relax the deficit target of Spain in 2012, but up to 5.3% of GDP, against 5.8% as proposed by the Prime Minister Mariano Rajoy. “We believe that Spain should make a greater effort,” said Eurogroup Chairman Jean-Claude Juncker, in a press conference after the meeting of finance ministers of the 17 [...]
Greece Concludes Debt Swap
Greece concluded on Monday the debt swap under Greek law, as part of a historic restructuring that allows you to remove about a third of its public debt, although the value of the new securities market collapsed in debt. Management Agency said Greece’s debt on Monday afternoon that it had completed the exchange of 177,300 [...]
New Deficit Target Spain & Greek Rescue Center The Eurogroup
The Spanish Minister of Economy and Competitiveness, Luis de Guindos, explain their European counterparts tomorrow at the new deficit target for this year in Spain (5.8% of GDP), at a meeting in which also take the final decision on the granting of the second rescue Greece. In Guindos insist on what he said the prime [...]
