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  • September 20, 2014
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  1. News - World - Cyprus

    Cyprus in ‘superhuman effort’ to reopen banks

    Posted Mar 26th 2013, 10:59pm by Agence France-Presse

    ... of the EU-IMF rescue package Cyprus warned that “superhuman” efforts were needed to reopen its banks by Thursday as protests and uncertainty about the island’s top lender showed that its huge bailout ... rallied against the terms of the EU-IMF rescue package. Banks were shut for an 11th day, leaving homes and businesses on the Mediterranean island short of cash – and there were growing doubts ...

  2. Business - Economy

    IMF tells Italy: press reforms, create youth jobs

    Posted Jul 05th 2013, 02:19pm by AP

    ... decide later in the year whether to revive the tax, which brings in some 4 billion euros (HK$40.2 billion) in revenue annually. In a report at the end of its annual visit to the country, the IMF ... for the IMF’s analysis, Bernini said the backing for the government “came from our lawmakers in Parliament and not the IMF.” Berlusconi had made abolishing the tax the main plank of his populist ...

  3. Business - Economy

    IMF says ’imperative’ for euro zone to revive growth

    Posted Jul 09th 2013, 10:42am by Reuters

    ... The euro zone must take coordinated action to revive economic growth, the International Monetary Fund (IMF) said in a strongly worded statement that cited the need to repair bank balance ... union are essential,” the IMF said in a regular assessment of the currency bloc’s economy. “The centrifugal forces across the euro area remain serious and are pulling down growth everywhere,” ...

  4. Business - Economy

    IMF releases first bailout funds for Cyprus

    Posted May 16th 2013, 01:06pm by AFP

    ... government. The loan is part of a combined US$13 billion (HK$100.9 billion) emergency financing deal set by the IMF and the European Stability Mechanism that aims to support the government as it seeks ... to preserve the welfare of the population,” the IMF said in a brief statement. IMF Managing Director Christine Lagarde said that stabilising the banking sector was an “immediate priority.” “The ...

  5. Business - Banking & Finance

    IMF says Europe's banks may need to sell more assets

    Posted Oct 11th 2012, 12:00am by Bloomberg

    ... Failure to implement fiscal tightening or set up a single supervisory system in the timing agreed could force 58 European Union banks from UniCredit to Deutsche Bank to shrink assets, the IMF ... a downward spiral as the regulation gets stricter and stricter and the global economy cools, potentially meaning more write-downs for banks. States in the periphery are hit hardest." The IMF ...

  6. Business - Economy - ANALYSIS

    Greece awakens from coma but recovery likely to be anaemic

    Posted Jun 11th 2013, 10:58am by Reuters

    ... company DEPA, making it unlikely it will meet privatisation targets under the EU/IMF bailout. Athens has a binding goal to raise 1.8 billion euros (HK$18.5 billion) from asset sales by the end ...

  7. Business - Economy

    Cyprus MPs to debate ’difficult’ bailout deal

    Posted Apr 30th 2013, 12:02pm

    ... The Cypriot parliament begins a debate later on Tuesday on a 10-billion-euro (HK$101.5 billion) EU-IMF bailout which Finance Minister Haris Georgiades has described as a tough but necessary measure that has to be ratified without delay. Speaking on the eve of the parliament meeting, Georgiades warned that without a positive vote on the bailout deal, the eastern Mediterranean ...

  8. Business - Economy

    Last-minute deal resurrects Cyprus bailout

    Posted Mar 25th 2013, 10:22am by AFP

    ... Agence France-Presse in Brussels EU and IMF officials struck a last-minute deal with Cyprus early Monday to resurrect a bailout for the island- but one banking chain goes to the wall ... for Cyprus,” the president had said via Twitter going into Sunday evening’s talks. Anastasiades met first with ECB head Mario Draghi, IMF managing director Christine Lagarde, EU president Herman Van ...

  9. News - World - Cyprus

    Cyprus girds for run on banks after sealing bailout

    Posted Mar 25th 2013, 09:33pm by Reuters in Nicosia

    ... billion euros of the 5.8 billion euros the EU and IMF had told Cyprus to raise as a contribution to the bailout, Dutch Finance Minister Jeroen Dijssebloem said. Cyprus government spokesman ...

  10. Business - Economy

    France's growth push sets up showdown with Brussels

    Posted Apr 03rd 2014, 10:10am by NICHOLAS SPIRO

    ... on the progress Valls is able to make in cutting public spending, particularly on social entitlements, which, according to the IMF, account for the largest share of GDP in the advanced economies ...




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