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Showing posts with label banks. Show all posts
Showing posts with label banks. Show all posts

Sunday 4 December 2016

Italian PM Renzi vows to resign after referendum defeat

Italian Prime Minister Matteo Renzi announced his resignation hours after learning he had suffered a crushing defeat in a referendum on constitutional reform.

Tuesday 21 July 2015

Greek banks reopen with real economy severely hit

After a three-week bank closure, the doors of all 2,500 Greek bank branches across the country reopened on Monday with capital controls remaining in place.

Wednesday 1 July 2015

IMF: The first developed nation to miss a payment (Greece misses IMF payment as bailout programme expires)

Greece slipped deeper into its financial abyss Tuesday, when the bailout programme it has relied on for five years expired and the country became the first developed nation to miss a payment to the International Monetary Fund.

Friday 19 June 2015

Greece told to accept debt deal or 'head towards default'

European Council President Donald Tusk told Greece to accept a debt deal with its international creditors or face defaulting.
An emergency summit will be held on on Monday to address Athens' future in the eurozone.

Sunday 1 February 2015

Greece offers olive branch as search for allies begins

Greece sought to repair relations with its international creditors on Saturday (Jan 31) as the new anti-austerity government began a charm offensive in European capitals, even as Germany insisted it would not support any debt relief...

Saturday 28 June 2014

Bulgarian authorities see illegal attempts to destabilize banking system

Bulgarian authorities on Friday saw illegal attempts to destabilize country's banking system amid queues of people trying to withdraw their money from cash desks....

Bulgarian Interior Minister Tsvetlin Yovchev told reporters that there has been an attack through the Internet and text messages via mobile phones to massively disturb people.

"We have found malicious and deliberate attempts to destabilize the banking system, and an investigation has been carried out in this direction since yesterday," Yovchev said.

Monday 14 April 2014

Banking union made easy: a five-minute guide to the EU's new rules

A banking union is being set up by the EU to help keep Europe's financial system stable and prevent another crisis from taking place. It requires finding a fast and efficient way to deal with failing banks while ensuring that taxpayers are spared from paying for bankers' mistakes. As MEPs prepare to vote on 15 April on an agreement with the Council on how to deal with failing banks, we take a closer look at the issues involved. Read on for an overview of how banking in Europe is about to change.

Wednesday 2 April 2014

Europe’s economic and financial outlook and its social impact, growth and banking sector issues on the agenda of the Informal ECOFIN meeting

The two-day informal meeting of the ECOFIN, as well as the 13. Joint ECOFIN / FEMIP Ministerial Meeting, organized by the Geek Presidency in Athens on 1-2 April had a full agenda and Ministers were able to exchange views on a number of key issues affecting Europe’s economy and financial situation.
In particular, Europe’s social problems and their implications for economic growth were discussed, based on a research and policy paper presented by Bruegel, which confirms the link between poverty and unemployment on the one hand and economic growth on the other. There was a fruitful discussion on how fiscal sustainability is negatively affected by social problems, as well as on concrete measures to be taken to address persistent unemployment and social insecurity, which constitute a major problem for the EU.

Monday 25 March 2013

La posibilidad de que el Eurogrupo repita la vía chipriota asusta a los mercados......

1. Dijsselbloem deja abierta la opción de dejar caer a la banca en futuros rescates
2. El Ibex 35 se desploma un 2,27% arrastrado por la banca tras abrir la jornada en verde
3. La prima de riesgo española sube hasta superar los 360 puntos básicos y el euro cae

Los mercados han recibido el acuerdo entre Chipre y el Eurogrupo con una fugaz bienvenida y han llegado a cotizar en verde durante buena parte de la mañana pero han acabado el día con importantes caídas. La jornada empezó con cierto optimismo, pero las ganancias duraron poco y las primeras dudas aparecieron antes incluso de la pausa para comer.

Saturday 23 March 2013

Cyprus to face savage cuts and economic dictatorship....

By Jordan Shilton and Chris Marsden(wsws.org)
23 March 2013
Cyprus’ fate illustrates how the European Union imposes the dictatorship of the global speculators, banks and corporations on the working class. The EU yesterday continued to demand massive austerity in Cyprus to raise €6 billion ($7.8 billion) in return for a €10 billion bank bailout.
The island country has been the centre of an escalating financial crisis, with its parliament voting Wednesday to reject proposals to raise the necessary funds by taking money from anyone with deposits in Cypriot banks. 

A new vote on whether to impose a “haircut” on depositors was delayed until today. The EU and European Central Bank (ECB) dismissed proposals by Cypriot politicians—themselves wholly reactionary—to create a “solidarity fund” to raise the six billion demanded.

Tuesday 12 February 2013

Was the euro ever "about to collapse"?

Hong Kong (CNN) -- Less than six months ago, eurozone watchers had been predicting the breakup of the 17-member bloc of nations as the euro plunged to a 25-month low against the U.S. dollar last July.
Even as recently as November, Warren Buffett, the famed CEO of Berkshire Hathaway, said of the eurozone's future that "it's hard to tell exactly how it comes out."
But since then, the euro has appreciated nearly 11% as its member countries battled to contain sovereign debt crises, rising unemployment and social unrest. The euro now stands at a 13-month high against the greenback.

Saturday 22 December 2012

Leading Greek banks in the doldrums and need over $17bn to recapitalize

The two largest banks in crisis-stricken Greece need a total of €13bn ($17.2bn) to recapitalize, as they took huge losses in the country’s debt restructuring.
Greece’s second largest bank by assets, Eurobank, needs €5.8bn, with the fourth largest lender Piraeus Bank being short of €7.3bn, according to the Wall Street Journal. In the first 9 months of the year the two banks reported combined losses of €1.7bn, with a huge part of that due the banks’ participation in the country’s debt restructuring programme.
The four biggest banks in Greece were left technically insolvent, after they joined the €200bn debt restructuring programme. It left them dependent on extremely expensive loans from euro zone member states and the International Monetary Fund.

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