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Keyword: greecebailout

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  • German Parliament Overwhelmingly Approves Greek Bailout

    08/19/2015 4:53:15 AM PDT · by SeekAndFind · 12 replies
    New York Times ^ | 08/19/2015 | Associated Press
    BERLIN — Germany's parliament overwhelmingly approved a third bailout for Greece on Wednesday, removing a key hurdle to providing new loans to the country and keeping it from defaulting on its debts in as little as 24 hours. The vote's result also seemed to dispel any speculation that Chancellor Angela Merkel would have difficulty getting her conservative bloc to sign on. Lawmakers voted 454-113 in favor, with 18 abstentions. The approval is among the last due from parliaments across Europe, with the Dutch scheduled to vote later Wednesday, after which Greece is expected to get the first installment of its...
  • Greece Caves, Formally Requests ESM Bailout: Full Headline And Next Steps Summary

    07/08/2015 5:24:31 AM PDT · by Wiz-Nerd · 44 replies
    ZeroHedge ^ | 07/08/2015 | Tyler Durden
    As we reported yesterday, following the latest European leaders summit, Greece was given until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe's currency bloc and into economic ruin. "The stark reality is that we have only five days left ... Until now I have avoided talking about deadlines, but tonight I have to say loud and clear that the final deadline ends this week," European Council President Donald Tusk told a news conference. It did that moments ago when Greece...
  • Greek 1 Year Sovereign Bonds Pass 1000% – Opa!

    03/05/2012 8:20:08 AM PST · by whitedog57 · 21 replies
    Confounded Interest ^ | 03/05/2012 | Anthony B. Sanders
    Here is a document discussing how a disorderly Greek default would cost over $1 trillion Euros. And the 1 year Greek sovereign debt yield breaks 1000%! While the Eurozone touts that they have solved the Greek credit crisis (at least for the moment), investors don’t seem too mollified. Opa! Your economy is on fire!
  • German showdown with IMF looms as Bundestag blocks rescue funds

    02/23/2012 3:04:52 PM PST · by bruinbirdman · 1 replies
    The Telegraph ^ | 2/23/2012 | Ambrose Evans-Pritchard, and Louise Armitstead
    Germany's ruling parties are to introduce a resolution in parliament blocking any further boost to the EU’s bail-out machinery, vastly complicating Greece’s rescue package and risking a major clash with the International Monetary Fund. “European solidarity is not an end in itself and should not be a one-way street. Germany’s engagement has reached it limits,” said the text, drafted by Chancellor Angela Merkel’s Christian Democrats and Free Democrat (FDP) allies. “Germany itself faces strict austerity to comply with the national debt brake,” said the declaration, which will go to the Bundestag next week. Lawmakers said there is no scope to...
  • Battle over EU financial firewall threatens to derail Greek bailout

    02/21/2012 9:02:03 PM PST · by bruinbirdman · 11 replies
    The Telegraph ^ | 2/21/2012 | Bruno Waterfield
    At a G20 summit in Mexico in two days the EU will plead for increased IMF contributions by non-euro countries to help shore up a eurozone "financial firewall" seen as vital to protecting Spain and Italy from Greek debt contagion. The IMF will refuse to make extra cash available to the EU and will threaten to pull the plug on its contribution to Tuesday's €130bn bailout of Greece unless the eurozone creates a €750bn fund, a move opposed by Germany. In the wake of this week's deal to prevent a Greek default, Olli Rehn, the EU's economic and monetary affairs...