Economic recovery remains at the top of the agenda of the government of Mariano Rajoy. It has already agreed a set of new austerity measures aimed at reducing the public deficit and wining back the confidence of investors and European partners in the Spanish economy. It also plans to introduce further reforms of the banking sector and labour [...]
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Tags: European Union, finance, Spain 
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In early Monday morning, February 13th, 2012, the Greek parliament passed a new 3.3 billion euro austerity package into law. 199 lawmakers in the 300-seat parliament voted in favour of the package and 74 against. 43 deputies from the main political parties, the socialists PASOK party and the conservative New Democracy party voted against the [...]
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On Friday, January 13th, 2012, Standard&Poor’s, a credit rating agency, downgraded the credit ratings for nine Euro zone countries. France’s rating was downgraded by a notch, from a top AAA to AA+. However, the country still has AAA rating from the other ratings agencies, Moody’s and Fitch. The S&P’s decision is a bitter blow to [...]
Posted in Economy and Finance, Europe, Featured, Politics in the World Tags: European Union, finance, France, Germany, the euro zone debt crisis No Comments »
The Spanish Prime Minister Mariano Rajoy has committed himself to cut the Spain’s budget deficit to 4.4% of GDP in 2012 and further down to 3% of GDP in 2013. However, it seems that the target will not be achieved. Mr Rojoy’s government has already announced over a 15 billion euro emergency programme of [...]
Posted in Economy and Finance, Europe, Featured, Politics in the World Tags: election, finance, Spain, the euro zone debt crisis, unemployment No Comments »
On Thursday, November 10th, 2011, Lucas Papademos, a former vice-president of the European Central Bank, was named to be an interim prime minister of Greece. He will head a government of national unity until a general election, which has been tentatively set for February 19th, 2012. Lucas Papademos has replaced the Socialist government of [...]
Posted in Economy and Finance, Europe, Featured, Politics in the World Tags: European Union, finance, Greece, the euro zone debt crisis No Comments »
On Monday, October 31st, 2011, the Greek Prime Minister George Papandreou announced that he would call a referendum on a second bail out deal, which had been agreed at the Euro summit on October 26th, 2011. On Thursday, November 3rd, 2011 he scrapped his plan for a bail out referendum and instead set his goal [...]
Posted in Economy and Finance, Europe, Featured, Politics in the World Tags: European Union, finance, Greece, the euro zone debt crisis No Comments »
On Wednesday, October 26th, 2011, at the Euro summit, which took place in Brussels, Euro zone leaders and private creditors agreed to take a 50% debt write-off on the Greek government bond holdings. In addition to that, a second bail out loan/package for Greece was revised to a total value of 130 billion euro, up [...]
Posted in Economy and Finance, Europe, Featured, Politics in the World Tags: European Union, finance, Greece, Italy, the euro zone debt crisis No Comments »
