On Monday night, January 23rd, 2012, the Euro zone finance ministers reached an agreement on a contract for a permanent euro bail out fund – the European Stability Mechanism (ESM), which is worth 500 billion euro. The ESM is about to replace the European Financial Stability Facility on July 1st, 2012, one year earlier than [...]
Posted in Economy and Finance, Europe, Featured, Politics in the World 
Tags: European Union, Italy, the euro zone debt crisis 
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Italy has replaced Greece as the biggest source of investors concerns. On Tuesday, November 8th, 2011, the Prime Minister of Italy Silvio Berlusconi won the vote on the ratification of 2010 public accounts, but obtained only 308 votes, eight short of an absolute majority in the 630 seat Chamber of Deputies. Mr Berlusconi signalled that [...]
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 »
