Tag: Europe
Cyprus seeks alternatives to avoid financial meltdown
Cyprus Wednesday seeking alternative funding for a vital international parliamentary after the resounding rejection of the European rescue plan considered unacceptable conditions imposed by the population. While waiting for a new proposal, and to prevent people from mass withdraws money from their accounts, the banks of the island will not open until Tuesday, and Thursday, [...]
The Cypriot Parliament says “no” to the rate on deposits of the Eurogroup
The Cypriot Parliament today rejected categorically the Eurogroup plan to impose a tax on private deposits and requested the President, Nikos Anastasiadis, seeking alternative ways of negotiating free what everyone described as “blackmail”. In a dramatic messages charged debate, MPs from all parties shared the view that Cyprus has been the victim of a “shakedown” [...]
The EU carries out “dangerous positions”
The President of Portugal, Aníbal Cavaco Silva, warned that the EU is drawing “a very dangerous path” with the implementation of a tax on savers of Cyprus and expressed his fear that the lack of confidence in this country could spread to other States. “I think that Europe is undertaking dangerous roads. Sometimes I think [...]
Global stock markets suffer from the bailout to Cyprus
Major world stock markets on Monday were affected by the imposition of an exceptional tax on bank deposits in Cyprus, to contribute to the international bailout of the island. European shares, which began the day with heavy losses moderated after their falls. The London Stock Exchange ended down 0.49%, on the Paris Bourse’s CAC 40 [...]
European Countries Under Bailout
Cyprus on Saturday became the fifth country in the Eurozone under financial assistance after the bailouts granted to Greece, Ireland and Portugal, and the aid package for the financial sector in Spain. GREECE The amount allocated to Athens avoid bankruptcy amounts to over 380,000 million euros. This amount consists of two rescue plans. The first, [...]
Thomas Cook announces layoffs to improve its financial situation
The British travel company Thomas Cook today announced a restructuring plan to return to benefits that include the abolition of 2,500 jobs and the closure of some outlets. The group, which in the year to last September recorded a gross loss of 485 million pounds (561 million euros), said most of the layoffs will occur [...]
The Eurozone Will “Significantly” Get Worse In Six Months
The economic situation in the eurozone to six months ahead will be “significantly” worse than the current budget deficits, unemployment and the fall in consumption, according to a survey of experts today advanced by German Ifo economic institute. The poll, “economic climate indicator for the euro area” in the fourth quarter of 2012 notes that [...]
Belgium and France Agree To Inject 5,500 Million Euros To Dexia
The governments of Belgium and France have agreed to grant a capital injection of 5,500 million euros to Dexia Bank, of which contribute 53% and 47%, respectively, according Belgian Executive reported today. Both countries decided at dawn grant new aid for restructuring entity, in finding that the situation remains very delicate despite two bailouts sections [...]
Strong Opposition In The Parliament & The Street To New Cuts In Greece
The Greek government today found stiff opposition to its austerity policies, both on the street, in the form of a massive protest, as in the Parliament, which is expected to be approved today with a slight majority of new savings measures. The second day of the 48-hour general strike called by unions culminated today with [...]
Car sales in Europe will not recover until 2018
New car sales in Western Europe will not recover to the level reached before the crisis until 2018, according to a study of the financial rating agency Standard and Poor’s. The number of new car registrations less than 12 million units in 2012, up from about 15 million in 2007, according to estimates by SP. [...]
