About: Troika Archives

  • Good results drag Spain away from bailout territory

    Promoted content | Euro & Finance 30-01-2013

    Madrid announced on Tuesday (29 January) that it had beaten revenue targets for 2012 as tax hikes offset a shrinking economy, moving the country further away from an EU-IMF sovereign bailout which seemed unavoidable a few months ago.

  • Greece in diplomatic talks amid euro exit fears

    Promoted content | Economy & Jobs 21-08-2012

    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.

  • European FMs rule out a ‘Grexit’

    Promoted content | Economy & Jobs 15-05-2012

    Discussions of a Greek euro exit, or a Grexit, have become more prominent in Brussels after Greek leaders failed to form a coalition government since elections were held on 6th of May. But eurozone finance ministers on Monday reaffirmed their commitments to keep Greece in the euro zone.
    But the EU also warned the Greek authorities that the austerity measures agreed need to be implemented. Greece is due to receive a second bailout in early June in order to avoid default.

  • Greece: uncertainty grows as biggest party can’t create coalition

    Promoted content | Elections 08-05-2012

    As if it were the plot of a Greek tragedy, the Greek people went to the polls on Sunday to punish those leaders who run the country in "austerity" mode.

    Both socialist PASOK and centre-right New democracy failed to get enough votes, although New Democracy emerged as the biggest party.

    But the center-right leader Antonis Samaras couldn't put together a coalition on Monday.

  • Outrage over Greek plan to blow 30 mln euro on elections

    Promoted content | Elections 12-04-2012

    After calling a snap election for May, the Greek Parliament on Monday approved a 30 million euros budget to finance the campaigns of its political parties. The move has caused outrage inside and outside the country. Greece recently underwent severe cuts in public spending after it received a second bailout fund of 130 billion euros.

  • Spain denies bailout talks

    Promoted content | Economy & Jobs 11-04-2012

    Is Spain next in line for a Greek style bail-out? Spanish Finance Minister Luis de Guindos does't think so, at least not for the moment.
    Spain is at the center of a financial storm as markets pushed the cost of its bonds to soar above 6%. In a bid to calm the markets and keep Brussels happy, the Spanish government on Tuesday announced a 10 billion euro slash in its public spending. The European commission welcomed the move, which comes on top of 78 billion euros in cuts presented in March.

  • Eurozone agrees on Greek bailout deal

    Promoted content | Economy & Jobs 21-02-2012

    After more than 12 hours of negotiations, Euro zone finance ministers on Monday agreed on a second bail-out deal for Greece. In exchange of 130 billion euros in financial aid, the Greek authorities will have to further cut public spending.
    Europe wants to see Greece repaying its debt before funding other government services. As Greek elections are due in April, a strong political commitment was also one of the key elements in reaching an agreement.

  • Brussels rejects Greek austerity plan

    Promoted content | Economy & Jobs 10-02-2012

    Eurozone finance ministers have told Greece that the austerity package they brought to Brussels is not enough.
    The Euro group wants further cuts, and also wants the Greek parliament to approve the measures that are proposed. Only then, Athens can receive a second bailout bill of a 130 billion euros.
    The austerity plan remains very unpopular among the Greek people. Trade Unions have called for a two-day general strike to protest.
    European Commission vice-president Olli Rehn believes that the EU needs to monitor the situation in Athens even more closely.

  • Euro fiscal pact agreed

    Promoted content | Economy & Jobs 31-01-2012

    This summit clearly belonged to Angela Merkel. The German chancellor on Monday managed to get 25 of the 27 EU countries to sign up to a new EU treaty that will create tougher fiscal rules to support the euro. At the same time, the EU , finally is getting serious about tackling youth unemployment.
    Before getting France to commit to the new fiscal treaty, Merkel had to back off on a controversial German proposal to give the EU a veto on Greek government spending decisions made in Athens.

  • Euro crisis set to flare up as Greek default looms

    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.