Greece crisis: eurozone demands action, not words
“The most important currency has been lost,” remarked a rueful Angela Merkel on her way into the Eurozone talks today, “and that is trust.”
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Angela Merkel has done something rather rare in European politics these days.
As we’ve said, Italy’s political problems could have wider implications for the entire Eurozone.
Eurozone leaders have reached an agreement to provide an 86bn euro bailout to keep the near-bankrupt Greece in the single currency.
“The most important currency has been lost,” remarked a rueful Angela Merkel on her way into the Eurozone talks today, “and that is trust.”
Greece is told it needs to enact key reforms by Wednesday in order to restore trust with eurozone leaders, who will then open talks to negotiate a bailout deal with the struggling country.
The Greek crisis ramped up a gear last night when, at the start of supposed “last chance” talks in Brussels, EU negotiators told the Greek delegation that “negotiations were over”.
Eurozone finance ministers are meeting in Brussels to discuss the Greek debt crisis.
It’s the meeting that had to happen. A radical left-wing Greek prime minister and a centre-right German chancellor whose ministers have been urging her to throw Greece out of the eurozone.
Today is the Greek equivalent of Gettysburg. After the ECB agreed to extend emergency lending for Greek banks for only a few days, the Greeks have until tonight to reach a compromise deal.
The European Central Bank enters the last chance saloon as it prepares to pump over one trillion euros into the Eurozone’s fragile economy – can it possibly work?
Europe is close to slipping back into recession, the International Monetary Fund warns, reigniting fears of a eurozone crisis, writes Helia Ebrahimi.
After every financial crash there’s a danger of stagnation, deflation and depression. Europe had to look that danger squarely in the face, and act.
The economic crisis in Cyprus is leading to a number of flights. Economics Editor Faisal Islam sees a parallel with the economic landscape of America in the 1930s.
Eurozone finance ministers agree on a bailout for Cyprus, marking the fifth international rescue package in three years of the debt crisis.
Germany’s leading court rejects calls to block the establishment of a permanent fund to support indebted countries.