About: default

Economy & Jobs 06-07-2015

‘Greece needs a humanitarian aid programme’, says Schulz

European Parliament President Martin Schulz said that “The sovereignty of the Greek people must be respected," after Greece voted “No” in Sunday's referendum on the EU bailout deal.
Economy & Jobs 25-06-2015

Merkel says ‘not enough progress’ on Greece

Speaking about Greece on her arrival at the June EU Council Summit, German Chancellor Angela Merkel said that “there hasn't been enough progress, and to some extent one can have the impression that we are moving backwards”.
Economy & Jobs 25-06-2015

Tsipras ‘confident’ of reaching agreement on Greek bailout deal

“After the comprehensive Greek proposals, I am confident that we will reach a compromise that will help the eurozone and Greece to overcome the crisis,” said Greek Prime Minister Alexis Tsipras upon his arrival to the EU Council Summit on Thursday.
Economy & Jobs 23-06-2015

Eurozone leaders hopeful of Greek deal

On Monday, Eurozone leaders welcomed new Greek budget proposals and called them a 'positive step forward' towards finding an agreement with Athens that would unlock frozen aid and stop Greece from defaulting.
Euro & Finance 22-06-2015

Dijsselbloem: New Greek proposals ‘positive step’

Speaking after a short meeting of eurozone finance ministers, Eurogroup president Jeroen Dijsselbloem said that the new proposals presented by the Greek government are seen as a “positive step' towards reaching an agreement with Athens.
Economy & Jobs 22-06-2015

Eurogroup meets amid fears of Greek default

Eurozone finance ministers gathered on Monday in Brussels, ahead of the EU leaders' summit, for emergency talks over Greece's bailout and the latest, last-minute proposals to stave off default from the Greek government.
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Economy & Jobs 21-08-2012

Greece in diplomatic talks amid euro exit fears

As European leaders slowly return from their summer break, Greece is at the center of the European stage yet again. Athens is expected this week to ask for two extra years to meet its deficit targets. The idea however hasn't gone down well amongst international creditors, who are due to release a 30 bn euro loan as early as next month in order to save Greece from defaulting. The European Commission said on Monday that no decision will be made until late September when Europe's assessment on Greece's reforms will be published.
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Economy & Jobs 27-10-2011

Eurosummit: post-game analysis

European leaders achieved a breakthrough early on Thursday to write off half of Greece's debt and seek foreign capital to double the eurozone's bailout fund to around €1 trillion. But crucial details on the fund's size were left for finance ministers to decide end of November.
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Euro & Finance 26-09-2011

Merkel: We’re buying time for other countries

German Chancellor Angela Merkel on Sunday said that she can not rule out letting a eurozone country default on its debts. Merkel said that this is a possibility to consider once the Eurozone has a permanent rescue fund in place. In a one-hour interview with ARD television, Merkel said a permanent rescue fund is necessary to prevent crisis in countries such as Greece from spilling over to other countries that use the euro as their currency.
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Economy & Jobs 16-09-2011

Wroclaw hosts crucial Ecofin talks

Wroclaw. The fourth-largest city in Poland. Home to 660.000 people and a brand-new football stadium that opened less than a week ago with a high-profile boxing match Between Poland Adamek and World Heavyweight Champion Klitschko of the Ukraine. But this Friday, Wroclaw is hosting an entirely different kind of fight. A fight o save the common European currency, the euro.
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Economy & Jobs 13-05-2011

Euro crisis set to flare up as Greek default looms

The debt crisis in the euro zone is being reignited now that it is clear that Greece is not delivering on its promised reforms. Related story on EURACTIV.com: http://twurl.nl/21heul Greece is failing to meet its restructuring targets. This means that Eurozone countries are no longer willing to send money to Athens as part of the European emergency support. Only with very tough measures, the Athens government can prevent this from happening.