Topic
TOPIC
The euro zone crisis was triggered in 2009 when Greece's debts, left by its previous government, reached a record 300 billion euros, leaving the southern European economy with debt levels more than four times higher as a proportion of gross domestic product than the official euro zone cap of 60 per cent of GDP. Since the original problems were uncovered, Greece has been bailed out twice, and lenders have also had to rescue Ireland and Portugal. In the latter half of 2012. Cyprus also required a bailout.
- Beijing had turned its focus back to the EU, but key gatherings have been postponed and talks on a bilateral investment treaty delayed
- While its medical aid has been welcomed, there is rising concern over the Chinese narrative among European diplomats
Costa’s Socialist Party (PS) took 37 per cent of the vote, with watchers keen to see who he chooses as allies to stay in power.
Costa’s Socialist Party (PS) took 37 per cent of the vote, with watchers keen to see who he chooses as allies to stay in power.
Premier Li Keqiang says growing platform is an important ‘supplement’ to Beijing’s relationship with the European Union.
Premier Li Keqiang says growing platform is an important ‘supplement’ to Beijing’s relationship with the European Union.
The EU economy is facing a raft of issues, including Brexit, the transition of leadership in Germany, the violent ‘yellow vest’ protests in France and widespread populism.
The EU economy is facing a raft of issues, including Brexit, the transition of leadership in Germany, the violent ‘yellow vest’ protests in France and widespread populism.
The blow of the UK leaving the union will be considerable, but it is only an exacerbating factor. In a European parliamentary election year, economic stagnation and a turn towards populist politics are far more worrisome.
The blow of the UK leaving the union will be considerable, but it is only an exacerbating factor. In a European parliamentary election year, economic stagnation and a turn towards populist politics are far more worrisome.
The apparent stability of the European Union masks the heavy debt levels of its member countries, which were only propped up by decisive action from Germany and the ECB that may not be there next time around.
The apparent stability of the European Union masks the heavy debt levels of its member countries, which were only propped up by decisive action from Germany and the ECB that may not be there next time around.
The Greek Prime Minister quits after seven months in office, paving the way for a snap election that he hopes will strengthen his hold on power.
The Greek Prime Minister quits after seven months in office, paving the way for a snap election that he hopes will strengthen his hold on power.
Hundreds of anti-austerity protesters gather in front of the parliament in Athens to decry debt deal accepted by Prime Minister Alexis Tsipras. (Photo: Bloomberg)
Hundreds of anti-austerity protesters gather in front of the parliament in Athens to decry debt deal accepted by Prime Minister Alexis Tsipras. (Photo: Bloomberg)
Eurozone ministers say Greece must implement reforms before bailout gets green light. (Photo: AFP)
Eurozone ministers say Greece must implement reforms before bailout gets green light. (Photo: AFP)
German Chancellor Angela Merkel tells Greece the door to talks is still open but urged Athens to act quickly to submit a new proposal. (Photo: Xinhua)
German Chancellor Angela Merkel tells Greece the door to talks is still open but urged Athens to act quickly to submit a new proposal. (Photo: Xinhua)
The "No" vote wins in Greek referendum, triggering celebrations in Athens, and contemplation in Germany. (Photo: Xinhua)
The "No" vote wins in Greek referendum, triggering celebrations in Athens, and contemplation in Germany. (Photo: Xinhua)
IMF Managing Director Christine Lagarde says if Greece leaves the Eurozone, the IMF will continue to engage with Athens in hopes of reform. (Photo: Reuters)
IMF Managing Director Christine Lagarde says if Greece leaves the Eurozone, the IMF will continue to engage with Athens in hopes of reform. (Photo: Reuters)