Tag: Euro

ECB’s Weber says Greece may need 80 bln euros

BERLIN, April 20 (Reuters) – European Central Bank Governing Council member Axel Weber has told German politicians that Greece may require assistance of up to 80 billion euros ($111.8 billion) in the coming years.

Irish banks may need as much as €32 billion for losses

EUOBSERVER / BRUSSELS – In what was billed as one of the most important speeches in the history of the state, Irish finance minister Brian Lenihan on Tuesday (30 March) revealed that the country’s banks could face a capital shortfall…

New outbreaks of civil unrest against austerity measures for Greece

Greek police used fire gas to disperse demonstrators protesting against government austerity measures in Athens on Thursday. Reportedly, nearly 20,000 demonstrators chanting slogans marched towards the parliament building in Syntagma square. The rioters lobbed petrol bombs at police and vandalised shops, banks and…

Euro, Au Revoir?

Roubini Global Economics:  Should the “Greek case” infect the other high (public and foreign) debt – low competitiveness countries, the PIIGS (Greece, Ireland, Portugal, Spain, and Italy), the stability of the euro and the cohesion of the Euro zone would…

Germans say euro zone may have to expel Greece: poll

BERLIN (Reuters) – A majority of Germans want debt-ridden Greece to be thrown out of the euro zone if necessary and more than two-thirds oppose handing Athens billions of euros in credit, a poll published on Sunday showed.

Unsustainable economic recovery?

FROM THE ECONOMIST INTELLIGENCE UNIT The global recovery is now well under way, with economic conditions improving in most regions. After shrinking by 1% last year, world GDP at purchasing power parity will grow by 3.6% in 2010. However, the…

Greek deficit ‘endangers’ euro, EU commission says

EUObserver: Soaring public deficits in euro countries such as Greece weaken the credibility and “endanger” the cohesion of the common currency, according to a leaked European Commission paper. Meanwhile, the Greek finance minister has rejected speculation that his country might…