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Tag: european stability mechanism

German constitutional court should not stymie emergency eurozone action - 13 September 2013 - Opinion

The German court in Karlsruhe is considering referring the European Central bank to the European Court of Justice for its actions during the Eurozone crisis, but the bank has acted in the interests of the Eurozone economy as a whole, and of Germany, writes Guntram Wolff.

Japan weighs purchase of first eurozone bailout bonds - 08 January 2013 - News

Japanese Finance Minister Taro Aso said today (8 January) that his country will purchase bonds issued by the eurozone's bailout fund to help foster financial stability.

ESM kicks off as its first client keeps low profile - 09 October 2012 - News

Eurozone finance ministers meeting in Luxembourg launched the European Stability Mechanism (ESM) yesterday (8 October), a €500-billion rescue fund for the 17 countries that share the currency. Its first task will be to help Spain recapitalise its banks, but reportedly no discussion took place about Madrid needing a full bailout.

Brussels to lay out banking union plan by early September - 07 August 2012 - News

The European Commission is aiming to present its banking union plan by September 11, in a bid to contain the euro crisis that has prompted several EU countries to seek bailout to finance their banks, EU officials reportedly said on Monday (6 August).

Political hurdles cleared in Spanish bank bailout - 20 July 2012 - News

The Eurogroup today (20 July) announced it would grant a bailout of up to €100 billion to Spain to help the country recapitalise its banks, following a telephone conference call during which finance ministers gave their backing to the rescue plan.

Finns, Dutch cast first doubt on EU summit deal - 03 July 2012 - News

Finland and the Netherlands, the eurozone's most hardline creditor states, cast the first doubts on Monday on a European summit deal designed to save Spain and Italy from being engulfed by the currency bloc's debt crisis.

German parliament approves EU bailout fund - 02 July 2012 - News

Germany's parliament resoundingly approved the eurozone's permanent bailout scheme and new budget rules on Friday (29 June), but legal hurdles remain and Chancellor Angela Merkel's concessions to eurozone partners Italy and Spain may make those harder to overcome.

Finance ministers mull bigger bailout fund, Spanish aid - 30 March 2012 - News

Increasing the eurozone rescue fund – and determining the extent to which Spain may need its help – will be under discussion today and tomorrow (30-31 March) as European finance ministers meet in Copenhagen.

Merkel playing for time on eurozone firewall deal - 27 February 2012 - News

Germany may not be ready to back an increase in Europe's bailout fund at a summit in Brussels this week, delaying efforts to meet international demands for Europe to strengthen its defences against the region's sovereign debt crisis.

German activists in quest to stop euro bailouts - 13 January 2012 - News

A 50-strong group of German activists are trying to derail the creation of a European Stability Mechanism (ESM), an EU decision which would immortalise loans granted to troubled economies, like Ireland, Greece – and now possibly Portugal. 

MEPs angered by 'Franco-German approach' - 17 February 2011 - News

European parliamentarians have reacted angrily to Franco-German plans to abandon the so-called 'Community method' and reform economic governance of the euro zone on an intergovernmental basis. EurActiv.fr reports.

France, Germany break taboo over fiscal union - 13 December 2010 - News

As European Union leaders prepare to meet in Brussels this week to create a lasting lending facility for indebted countries, France and Germany have surprised observers by stating their openness to discussing whether countries that share the euro currency should harmonise fiscal policy.

Brussels lays down plans for permanent bailout mechanism - 02 December 2010 - News

With the future of the euro currency in the balance, the European Commission on Wednesday (1 December) outlined details for a permanent strategy to help countries at risk of defaulting on their debts.

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