EU Pushes Ahead With Reforms Despite Opposition
Action is progressing on a number of fronts for the European Union even as opposition from countries such as Germany and the U.K. slows progress.
ECB Conditions, IMF Oversight Stall Aid: Monti
Monti said conditions should be limited to those already imposed on the countries working to control their finances.
Greece Forms New Government
On Wednesday Greece managed to agree in principle to form a conservative coalition government, with three pro-bailout parties agreeing to cooperate and giving the coalition a majority of 179 seats.
Greece Should Remain in Eurozone: G8
Greece should remain in the eurozone despite its financial woes, according to a communique issued by the G8 gathering at Camp David during the weekend.
G20 Hesitates on Cash Boost to Europe's Bailout Fund
Ahead of a meeting of the G20 scheduled for Thursday and Friday in Cannes, France, euro one leaders seeking funding for an expansion of the European Financial Stability Facility found it difficult to pry cash out of G20 nations as policymakers press for details of the plan.
IMF, Troika Divided Over Greek Rescue
Dissension over Greece's second bailout is dividing the bodies that make up the troika, the so-called joint commission of the International Monetary Fund, the European Union and the European Central Bank.
Greek Debt Writedown May Top 60%
A debt crisis summit meeting of European leaders scheduled for October 18 was pushed back to October 23 amid a disagreement about the amount of Greek debt to be written down.
Soros Warns Europe: Fix Debt Crisis or Face Meltdown
Billionaire investor George Soros on Thursday told European officials that the time for postponing substantive action on the euro zone debt crisis is over—otherwise they risk the launch of another Great Depression.
Germany’s Merkel Calls for Greek Debt Buy-Back, Swap
As pressure mounted to come up with a solution to the Greek debt crisis, German Chancellor Angela Merkel called for private investors to kick in. Strategies being discussed include several options, such as a repurchase of bonds or a swap in which they are exchanged for cuts in face value.
EU Calls Emergency Meeting Over Italy Debt
Concerns mount over third largest economy in euro zone's sovereign debt while Greece still totters.