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  • August 20, 2014
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  1. News - World - EURO-ZONE CRISIS

    Euro-zone ministers to launch ESM rescue fund

    Posted Oct 08th 2012, 12:00am by AFP

    ... Agence France-Presse in Brussels Greek and Spanish cases put on hold as bailout uncertainty persists Ministers meet to launch ESM rescue fund The euro zone finally gets its €500 billion (HK$5 trillion) rescue fund today when finance ministers meet amid growing uncertainty over Greece's tortuous debt bailout and whether Spain will need help in turn. The formal launch ...

  2. Business - Economy - EURO-ZONE CRISIS

    Europe's Plan C for Greece no better than previous plans

    Posted Nov 29th 2012, 02:22am by Bloomberg

    ... Bloomberg The deal between euro-zone finance chiefs and IMF welcome but lacks adequate debt relief Europe's Plan C for Greece no better than previous plans 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. The agreement between euro-zone finance ministers ...

  3. Business - Economy - EURO-ZONE CRISIS

    EU aid deal secures Greece in single currency

    Posted Dec 14th 2012, 12:00am by Bloomberg

    ... Bloomberg in Brussels EU deal puts ECB in charge of lenders The European Union yesterday agreed to disburse more aid to Greece and struck a deal on setting up a banking union, finalising two of the toughest issues it has confronted this year and giving it ...

  4. Business - Economy - EURO-ZONE CRISIS

    Greece 'urged to cut deeper' to unlock EU-IMF-ECB loans

    Posted Oct 15th 2012, 12:00am by AFP

    ... will undermine the government's forecasts, as will the need to support a new state health organisation that is deeply in debt. Despite attempts to trim it through a write-down, Greece's debt is expected to increase from 169.5 per cent of output this year to 179.3 per cent in 2013, according to next year's draft budget. Athens has committed to cutting its debt levels to 120 per cent ...

  5. News - World - EURO-ZONE CRISIS

    Germany approves global bailout package for Cyprus

    Posted Apr 19th 2013, 12:00am by AFP

    ... formally approved new terms for the Cyprus debt rescue that will cost far more than first thought- €23 billion (HK$234.4 billion) rather than €17 billion. Euro-zone partners and the International Monetary Fund are to provide €10 billion of this amount, while the Cypriot government will have to find the rest. Germany will kick in about a third of the international assistance. The debt rescue ...

  6. Business - Economy - EURO-ZONE CRISIS

    IMF says China's economy will not have a hard landing this year

    Posted Oct 13th 2012, 12:00am by AFP, Bloomberg

    ... Agencies in Tokyo Germany firm on need for European debt cuts The International Monetary Fund all but ruled out a hard landing for China's slowing economy, saying it would expand ... Germany's finance minister said yesterday there was "no alternative" to cutting debt in European countries, the day after the chief of the International Monetary Fund (IMF) called ...

  7. Business - Economy - EURO-ZONE CRISIS

    S&P cuts credit rating for Santander and Bilbao Vizcaya Argentaria banks

    Posted Oct 17th 2012, 12:00am by Bloomberg

    ... on these banks would be affected is therefore remote." Spain's debt rating was cut to one level above junk by S&P, which cited euro-region peers' backtracking on a pledge to sever ... to lawmakers. The new measures, a condition of debt-rescue funding, include a 4 per cent surtax and a reduction in pensions and social benefits. The average tax rate is set to rise to 13.2 per cent from ...

  8. News - World - EURO-ZONE CRISIS

    Merkel and Hollande to offer Greece little comfort over bailout terms

    Posted Aug 24th 2012, 12:00am

    ... and Hollande receives him tomorrow, at a moment of rare optimism on financial markets that the European Union- especially the European Central Bank- is poised for decisive action on the euro-zone debt crisis. German Finance Minister Wolfgang Schaeuble noted that it's only a few months since creditors drew up a second bailout package and agreed on a massive debt writedown for Greece. ...



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