Greece has been given another EU bailout tranche worth billions of euros. But once again, the money will not be available for investment programs as it’s meant to pay debts and remove a long list of state arrears.
Only 5 percent of international bailout money for Greece was used to kickstart the country’s languid economy, a new study has found. The rest was used to pay back private creditors, many of which were banks.
Greece has been denied the next tranche in its bailout after eurozone finance ministers said Athens had not delivered on a series of reforms to unlock the latest provision under the debt rescue package. Greece was denied its next bailout tranche of 2 billion euros ($2.1 billion) Monday, after eurozone finance ministers said the country …
CBE invested EGP 48bn in treasury bonds during the last fiscal year
Spain formulating new budget
EU President: “Europe is on the way out of the crisis”
Details of a new bond buying plan by the European Central Bank (ECB) fueled a surge in some Spanish and Italian debts and increased mediated talks between European leaders. German Chancellor Angela Merkel met with the President of the European Union (EU) Herman van Rompuy in Berlin on Tuesday, while French President François Hollande travelled …
Spain on the verge of seeking a sovereign bailout
As Spain seems closer to a sovereign bailout, Catalonia reach out for a $6.3b government rescue
Madrid (AFP) – Ratings agency Standard and Poor’s said Wednesday that if Spain requested a full bailout from European Union rescue funds and the IMF, this would not affect the country’s debt rating. “The sovereign ratings on the Kingdom of Spain would likely not be directly affected should Spain’s government request a bailout through official …
Madrid (AFP) – Spanish unemployment is now near one quarter of the workforce, fuelling fears the country might need a costly bailout as the IMF issued its latest report on the eurozone’s fourth biggest economy. The unemployment rate rose in the second quarter to 24.63 percent of the workforce and to a huge 53 percent …
By Lesley Wroughton and Glenn Somerville / Reuters WASHINGTON: The International Monetary Fund appeared to be inching toward a deal on increasing its financial firepower on Tuesday, with Japan, Sweden and Denmark committing a total of $77 billion to help contain the euro zone’s debt crisis. The pledges were made ahead of meetings of global …
By Leszek Balcerowicz WARSAW: The seemingly never-ending debate over the eurozone’s fiscal problems has focused excessively on official bailouts, in particular the proposed purchase of government bonds on a massive scale by the European Central Bank. Indeed, we are warned almost daily — by the International Monetary Fund and others — that if bailout efforts are …
