Spain in Mind as Eurozone Brings ESM Online
The European Stability Mechanism, the permanent rescue fund of the eurozone, goes into operation on Monday in anticipation of Spain’s potential need for a bailout.
Germany Said to Stall Spain on Bank Rescue
Just when it seems that Spain has made up its mind at last to ask for a bailout for its banks, Germany is said to be pushing Madrid to wait.
German Unemployment Up for Sixth Month
Still, unemployment was near its lowest level since reunification, and the overall rate held steady at 6.8%.
Merkel Defends ECB, Bundesbank
Chancellor Angela Merkel of Germany defended both sides of the bond-buying issue, saying that politicians should stay out of ECB limits in bond purchases but championing the right of the Bundesbank head to challenge them.
Soros: Germany Should Lead Eurozone or Leave It
Billionaire financier George Soros said that Germany's insistence on austerity measures, if not checked and replaced by growth strategies, will push the region into a depression.
ECB Plan Cuts ‘Drama’ From Aid Requests: Monti
ECB President Mario Draghi’s plan to buy bonds and drive down the interest rates for eurozone countries in trouble has lessened the stigma of asking for help, according to Prime Minister Mario Monti of Italy.
Bundesbank Head Said to Have Threatened Resignation Over Bonds
Jens Weidmann, president of Germany’s Bundesbank, reportedly threatened to resign over the issue of bond purchases by the ECB, according to a German tabloid.
Merkel Battles Headwinds at Home Over Greece
Chancellor Merkel of Germany took to the airwaves over the weekend to try to quell ever-louder exitmongering talks among her political colleagues at home as they declared that Greece should depart the eurozone.
Greece Must Stay in Eurozone: Hollande, Merkel
After meeting with Prime Minister Samaras of Greece on Saturday, President Hollande of France reiterated that Greece must remain in the eurozone—echoing the words of the German chancellor, Angela Merkel, the day before.
Germany Doubles Down on Greece
German officials seem to be backing away from earlier hints that leniency would be possible toward Greece on complying with the budget constraints of its bailout package.