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#Debt Crisis

# debt-crisis - Sunday 28 October, 2012

Cyprus close to deal on becoming fourth bailed-out Eurozone country

The finance minister of Cyprus says the last few difference on a Troika bailout are “bridgeable”.

# debt-crisis - Saturday 27 October, 2012

Spanish police protest cuts in Madrid

Hundreds of Spanish police officers protested outside the interior ministry today to denounce budget cuts and the elimination of benefits.

# debt-crisis - Sunday 21 October, 2012

Spain goes to polls in two crucial local elections

Elections are taking place in the Basque Country – the first since ETA renounced violence – and Mariano Rajoy’s home area of Galicia.

# debt-crisis - Tuesday 16 October, 2012

Portugal government faces backlash over austerity

Demonstrators gathered outside Parliament after the Finance Minister announced his plans to introduce steep tax increases.

# debt-crisis - Sunday 14 October, 2012

Euro crisis based on 'design flaws' in monetary union, conference told

An economics conference in Galway is told the Eurozone’s debt crisis is based on a ‘deeply flawed institutional architecture’.

# debt-crisis - Friday 12 October, 2012

Van Rompuy: Ireland could get deal on bank debts before new watchdog

The President of the European Council says the European banking supervisor doesn’t need to be finalised for the ESM to invest in banks.

# debt-crisis - Monday 8 October, 2012

Portugal criticises tardy European Central Bank

The ECB “arrived late” to attend to the debt crisis in the eurozone, accuses Portuguese president Anibal Cavaco Silva.

# debt-crisis - Monday 1 October, 2012

EU report says Irish homes hit second-hardest by economic slump

Disposable incomes in Irish households fell by more than in every other EU country between 2009 and 2011 – except for Greece.

# debt-crisis - Thursday 27 September, 2012

Spain to announce Budget - with €39bn of cuts on the table

Prime minister Mariano Rajoy will hope that the hard-hitting Budget will soften the terms of any prospective bailout.

# debt-crisis - Wednesday 26 September, 2012

Shares fall amid protests against austerity in Athens and Madrid

Protests on the streets of Spain and Greece have spooked the markets.

Kenny shrugs off impact of trilateral statement on banking deal

Enda Kenny says last night’s statement from the ministers of Finland, Germany and the Netherlands does not change EU policy.

# debt-crisis - Wednesday 12 September, 2012

From The42 Andalucía Masters cancelled due to Spanish economic woes Hasta La Vista

Andalucía Masters cancelled due to Spanish economic woes

George O’Grady of the European Tour has laid the blame at the door of the region’s government.

# debt-crisis - Thursday 6 September, 2012

Free advice to be given to distressed mortgage holders

A panel of 1,000 accountants – paid for by the banks – will become available to mortgage holders from the middle of this month.

# debt-crisis - Tuesday 4 September, 2012

Poland and Bulgaria shelve plans to join Eurozone

The Eurozone debt crisis and the likelihood of a double-dip recession mean little appetite for joining the single currency.

# debt-crisis - Sunday 26 August, 2012

Germany to seek new EU treaty on budget rules - report

Germany’s Der Spiegel magazine says the federal government wants a convention on a new treaty this December.

# debt-crisis - Monday 20 August, 2012

European leaders begin week of crucial meetings on Greece's future

The week began today with a meeting of Greece and Germany’s foreign ministers, which ended with stern words from Germany.

# debt-crisis - Thursday 16 August, 2012

See-sawing: exports fall in June after May bounce back

A disappointing April was followed by an improved May but June’s exports fell back once more.

# debt-crisis - Tuesday 14 August, 2012

Eurozone and EU economies shrank in second quarter of 2012

Figures compiled by Eurostat show that economic output in both the eurozone, and the EU as a whole, is down.

# debt-crisis - Wednesday 8 August, 2012

Fall in German exports causes concern over European crisis

Imports were 3 per cent lower in June, following a 6.2 per cent increase the previous month.

# debt-crisis - Thursday 2 August, 2012

S&P: Return to markets is promising - but we won't increase Ireland's rating

The return to the bond markets is “an indication of progress”, it says – but the cost of borrowing is still way too high.

# debt-crisis - Wednesday 1 August, 2012

"Stay out of the eurozone", top Austrian banker tells Czechs

“The Czech Republic now finds itself in a good situation. It has its own currency and its own monetary policy,” said Andreas Treichl.

# debt-crisis - Tuesday 31 July, 2012

Italian PM Monti sees light at the end of tunnel for Italy, EU

Mario Monti said that the breakthrough summit of European leaders at the end of June had been crucial in resolving the eurozone crisis.

# debt-crisis - Sunday 29 July, 2012

Auditors to stay in Greece until new reforms are ready

Auditors from the EU, IMF and the European Central Bank are to stay in Greece until a credible reform programme is formed.

Merkel and Monti pledge to protect eurozone

Germany and Italy’s leaders have pledged to do everything to protect the eurozone – but have not outlined any specific action.

# debt-crisis - Friday 27 July, 2012

Explainer: Why is Spain under so much financial pressure?

The cost of borrowing for Spain keeps getting higher – fuelling rumours of needing a full-on bailout.

Spain ‘discussed €300bn bailout with Germany’ – Reuters report

Reuters says a Spanish minister broached the idea on Tuesday. If they’re right, Ireland could be hit with a bill for €4.77 billion.

# debt-crisis - Thursday 26 July, 2012

Mario Draghi: The ECB will do "whatever it takes" to save the euro

Stock markets around the world rocketed after the usually reserved ECB president insisted the euro would not be abandoned.

# debt-crisis - Wednesday 25 July, 2012

Greens tell Gilmore: 'You'll need to convince German allies on bank deal'

The Green Party points out that Labour’s sister party in Germany is opposed to letting banks borrow straight from the ESM.

# debt-crisis - Friday 20 July, 2012

No split between banks and sovereign - for now - as Spain secures bailout

The assistance – of up to €100 billion – comes with terms and conditions, while banks and the sovereign haven’t been split just yet.

# debt-crisis - Thursday 19 July, 2012

Huge protests erupt across Spain against €65bn austerity cuts

Workers have taken to the streets decrying “robbery”, on the eve of a teleconference to secure Spain’s €100bn bailout.

# debt-crisis - Thursday 12 July, 2012

In photos: Six demonstrators hospitalised after Madrid clashes Spain This post contains images

In photos: Six demonstrators hospitalised after Madrid clashes

Six people were hospitalised and several arrested in yesterday after police fired rubber bullets at crowds demonstrating against severe new austerity measures.

# debt-crisis - Wednesday 4 July, 2012

Merkel to meet with Italian PM Monti over eurozone crisis

Monti has been a prominent advocate for growth policies, but rejected suggestions of deep differences between himself and Merkel.

# debt-crisis - Friday 29 June, 2012

Explainer: What did the EU leaders agree overnight in Brussels?

The leaders of the Eurozone countries have agreed to allow bailout funds be used by banks. What’s it all about?

Gilmore says new eurozone deal is a 'game-changer' for Ireland

The Tánaiste has also said that it reduces the chances of Ireland needed a second bailout.

Taoiseach: Irish debt burden on the tax-payer to be 're-engineered'

An agreement overnight at a last minute summit in Brussels means that eurozone banks can be bailed out directly from the ESM.

# debt-crisis - Thursday 28 June, 2012

Merkel blasts ‘fake solutions’ as EU leaders head to Brussels

The German chancellor says short-term measures to stop Spain and Italy from going under won’t cut it.

# debt-crisis - Monday 25 June, 2012

Spain formally requests €100 billion rescue loan

Spain’s government views loan offer “very favourably”, according to letter sent to Jean-Claude Juncker.

EU leaders will discuss plans to integrate national budgets - report

Reuters says a document being prepared for Brussels also discusses banking union and deeper economic integration.

# debt-crisis - Friday 22 June, 2012

Four biggest Eurozone countries to push for €130 billion stimulus

France, Germany, Italy and Spain agree to lobby for a €130 billion growth plan at next week’s summit in Brussels.

Brussels made 17 errors translating the ESM Treaty into Irish

Dáil approval was needed this week to correct 17 grammatical mistakes, and typos, in the Irish version of the Treaty.