About: default Archives

  • Wroclaw hosts crucial Ecofin talks

     Video | Promoted content | Economy & Jobs 16-09-2011

    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.

  • Thinking the unthinkable in Europe

    Opinion | Euro & Finance 15-09-2011

    The EU should prepare for the possibility of the default or defection from the euro zone of some of its members, something which if prepared correctly would not cause a financial crisis and would allow the countries concerned to escape the vicious cycle of austerity and recession, argues George Soros.

  • EU faces risk of credit crunch

    News | Euro & Finance 15-09-2011

    European finance ministers have been warned confidentially of the danger of a renewed credit crunch, as a "systemic" crisis in eurozone sovereign debt spills over to banks.

  • Merkel draws red lines ahead of eurozone summit

    News | Future EU 18-07-2011

    As eurozone heads of state prepare for a summit on Thursday (21 July) to put together a second bailout package for debt-laden Greece, German Chancellor Angela Merkel said she wanted clear commitments from private investors that they would contribute to further funding.

  • Euro zone enters new firefighting phase with Italy, Ireland

    News | Euro & Finance 13-07-2011

    Ireland's debt has been downgraded to junk status by rating agency Moody's, which said the country was likely to need further rounds of financing before it could return to international capital markets. Meanwhile, Italy's borrowing costs soared to their highest level in more than a decade, sparking new doubts about the euro zone's ability to right itself.

  • EU warns Greece rejecting austerity may lead to default

    News | Euro & Finance 29-06-2011

    The European Union warned Greek lawmakers yesterday (28 June) that their country faced immediate default unless they approve a hated austerity plan, as strikers began new mass protests against the EU/IMF-imposed measures.

  • EU officials mull ‘plan B’ for Greece

    News | Euro & Finance 28-06-2011

    European Union officials are working on a contingency plan for Greece if its parliament rejects an austerity programme and the country cannot receive the next instalment of EU/IMF emergency loans, three eurozone sources said yesterday (27 June).

  • Liberal MEP: You can never guarantee that default is ‘orderly’

    Interview | Euro & Finance 24-06-2011

    The United Kingdom is the third-largest lender to Greece and must accept its responsibilities by supporting the country's bailout, says British Liberal Democrat MEP Graham Watson, adding that any solution linked to an 'orderly default' is too risky.

  • Greece defaulting on cash owed to companies

    Opinion | Health 23-06-2011

    Fears that Greece could default on its debt are misplaced as the country has already begun defaulting on its debt to companies, argues Gary Finnegan. 

  • Businessmen underline Greece’s moral bankruptcy

    News | Euro & Finance 15-06-2011

    As Greece struggles to avoid default despite repeated attempts by George Papandreou's government to restructure the country's debt, business leaders and policymakers meeting in Athens last week voiced their concern about ineffective policies and political corruption. EURACTIV reports from Greece.

  • Greece on brink of default after downgrade

    News | Euro & Finance 14-06-2011

    Greece has become the lowest-rated country in the world, according to Standard & Poor's, which downgraded the country yesterday (13 June) and warned that any attempt to restructure its debt would be considered a default. The burning issue will be discussed at an emergency meeting of EU finance ministers on 14 June.

  • Euro crisis set to flare up as Greek default looms

     Video | Promoted content | Economy & Jobs 13-05-2011

    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.

  • Restructuring: By design or by default?

    Opinion | Euro & Finance 29-04-2011

    Just as Europe was talking about bailouts a year ago, it is now moving into 'restructuring' territory. But a year from now not even that will have been enough and the new order of the day will be the dreaded D-word: default, writes Jens Bastian, visiting fellow for the political economy of Southeast Europe at St. Antony’s College in Oxford, England in an exclusive op-ed for EURACTIV. 

  • Spain calls 10 May summit over Greece

    News | Trade & Society 28-04-2010

    Eurozone leaders are discussing the possibility of holding a special summit in Brussels on 10 May to activate an aid package for Greece, a spokesman for the Spanish government said on 27 April.