Posted by sschleicher - 19. August 2011
NYT, 20/8 ://www.nytimes.com/2011/08/19/business/global/greece-bailout-faces-new-obstacle.html?_r=1&ref=stephencastle
Greece’s international bailout hit a new obstacle Thursday when three euro zone countries indicated they were likely to seek collateral in exchange for their loan. Finland earlier reached a similar deal with the debt-laden government in Athens.
Though the three countries — Austria, the Netherlands and Slovakia — are small or midsize economies, accounting for little more than 10 percent of the new bailout of 109 billion euros ($156 billion), their intervention presents a headache for policy makers. Den Rest des Beitrags lesen »
Posted in Artikel | Getaggt mit: Austria, Collateral, Euro, Europe, Finanzkrise, NYT | Leave a Comment »
Posted by hkarner - 19. August 2011
In the Long Term We’re All Dead
The European Union’s attempts to resolve the continent’s sovereign debt problems do not deal with issues of growth, intra-European financial imbalances and competitiveness. The only “initiative” was the vague plan for a massive public investment program, although no details of how it is to be financed were provided.
The call for greater public investment was accompanied by a familiar but contradictory insistence that all Euro-zone states adhere to agreed fiscal targets. Euro-zone countries except Greece, Ireland and Portugal must bring their budget deficit down to less than 3% of GDP by 2013. The need for many European countries to improve public finances is clear. But how greater belt-tightening and austerity would restore growth is not. Den Rest des Beitrags lesen »
Posted in Artikel | Getaggt mit: Das, Debt, Euro, Europe, Finanzkrise, PIIGS, RGE Monitor | Leave a Comment »