Tag: PIIGS

Dublin to unveil deep austerity plan as Germany warns euro ‘at stake’

EUOBSERVER / BRUSSELS – In a race against time, or at least against the ‘bond vigilantes’, the Irish government is to publish a stiff austerity plan on Wednesday afternoon whose drafting was supervised to by the EU-IMF troika. The plan,…

Slovakia may hold up eurozone rescue fund

EUOBSERVER / BRUSSELS – The emerging new leadership in Slovakia has said the country will not contribute its share of the €110 billion rescue package for Greece. In addition, Bratislava is likely not to add its signature to the €750…

Euro Zone Buys Time, Moves Toward Federalism

FRANKFURT (Dow Jones)–The massive European Union financial package should banish fears of government default and a collapsing euro, and was also a giant step toward a more federal Europe in the longer term.

EU: Contagion fears

FROM THE ECONOMIST INTELLIGENCE UNIT The Greek debt crisis has intensified dramatically in recent days, raising concerns about contagion within the euro area. Greek sovereign debt has been downgraded, yields on Greek government bonds have soared, and estimates of the…

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…