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Lagarde Assures All Partners Have Same Aim to Rescue Greece
The International Monetary Fund (IMF) has given an assurance that “all partners share the same objective” to rescue Greece’s economy. “All partners share the same objective and concern to make sure...
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Juncker Says Euro Zone Threats do Not Help Greece
Eurogroup President Jean-Claude Juncker took aim at Austria, Germany and the southern German state of Bavaria on Saturday for suggesting that a Greek exit from the euro zone was looming. “Threats in...
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Germany: No Final Decision on Greece at Tuesday’s Eurogroup
On the eve of a hotly awaited meeting of eurozone finance ministers to thrash out a deal on Greece, Berlin cautioned that a final decision could not be taken on Tuesday as parliaments first had to give...
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Eurozone Talks Break Down, No Aid for Greece Yet
After 12 hours of talks in Brussels between Eurozone finance chiefs and International Monetary Fund Managing Director Christine Lagarde failed to reach an agreement on how to manage Greece’s runaway...
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Eurogroup and Greece Attract International Media Attention
Eurogroup’s failure yesterday to reach an agreement about Greece after 12 hours of talks, attracted the attention of international media agencies today with most reports underlining that now Greece is...
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Eurogroup Statement on Greek Aid Deal
The Eurogroup members said Tuesday that creditors will be in a position to re-start the paying out of 43.7 billion euros in loans to Greece from December 13. Troika said that the amount would be paid...
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Bloomberg: Europe’s Plan C for Greece is No Better than Plans A or B
Europe’s leaders have reached Plan C in their efforts to rescue Greece. Unfortunately, it lacks a crucial element also absent in Plans A and B: adequate debt relief, according to Bloomberg΄s view. The...
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Barroso: Greek Economy to Grow Again by End 2013
The eurogroup’s decision earlier this month to release bailout funds to Greece shows European leaders are committed to keeping the country in the common currency, To Vima says, citing an interview with...
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Cypus Denies Money Laundering Hub
Cypriot FinMin Vassos Shiarly Cyprus, awaiting big international bailouts as for its banks to be saved after suffering huge losses when the Greek government imposed big hits on holders of Greek bonds,...
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Eurogroup Approves 9.2 Billion Euro Tranche for Greece
Eurozone finance ministers approved a 9.2-billion-euro loan tranche for Greece on Monday. Eurogroup – as expected – focused on who will preside over its regular meetings in the future. The ministers...
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EU Says Greece On Target – So Far
Eurozone finance ministers meeting in Brussels on March 4 said they were satisfied that Greece has met “necessary milestones” in fiscal targets for February despite tax revenues being far off...
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Juncker Says Cyprus Bailout Needed Now
Jean-Claude Juncker With talks over a bailout for Cyprus going on for months, former Eurozone chief Jean-Claude Juncker said that a deal must be reached almost immediately because the island’s...
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Bailout Cuts Cyprus Bank Accounts, Withdrawals Barred
Cyprus, whose banks were pushed to the edge of default by their exposure to heavily devalued Greek bonds, will get a 10 billion euros ($13 billion) bailout from international lenders, but bank...
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Gazprom Offers Cyprus Restructuring Deal to Avoid EU Bailout
Russian energy giant Gazprom has offered the Republic of Cyprus a plan in which the company will undertake the restructuring of the country’s banks in exchange for exploration rights for natural gas...
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Eurogroup Decides More Flexibility for Cyprus Levy-source
Central Bank of Cyprus The Eurogroup agreed that Cyprus depositors with less than 100,000 euros ($129,600) should be protected and not be taxed. The Eurogroup has decided to give Cyprus more...
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Russians Say Cyprus Restructuring Offer Initiated, but Not On Table
The Russian news agency ITAR-TASS says that there is not a restructuring offer for Cyprus on the table, however an offer has been “initiated.” Russia’s Gazprom has not offered the Republic of Cyprus...
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Eurozone Chief Says Cyprus Risk
Jeroen Dijsselbloem With Cyprus frantically trying to find a way to keep its banks and economy from collapsing after rejecting a demand to confiscate up to 9.9 percent of bank deposits to help pay for...
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ECB Threatens Cypriot Bank Funds Cutoff
The European Central Bank (ECB) warned Cyprus on March 21 that it would stop providing emergency funding on March 25 unless the government finds a way to come up with 5.8 billion euros ($7.5 billion)...
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Tsipras Says Samaras Should Back Cyprus
While Greek Prime Minister Antonis Samaras, who is dealing with the same international lenders squeezing Cyprus to confiscate part of bank accounts to help pay for a bailout, remained mostly silent...
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‘Complications with Piraeus Deal for Cypriot Units’
Talks on the transfer of Cypriot banks’ Greek units to Greece have been frozen on the instructions of President Nicos Anastasiades, the Cyprus News Agency (CNA) reported. The matter of transferring the...
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