Germany’s top court has ruled that a special parliamentary panel created to ensure the country could take quick action on Europe’s debt crisis when it needed to is “in large part” unconstitutional. The Constitutional Court ruled Tuesday that the nine-member group, which meets in secret, cannot approve loans or credit lines for financially troubled countries […]
Top German Court Limits Panel’s European Debt Role
Posted February 28th, 2012 at 3:05 pm (UTC-5)
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Moody’s: Greek Debt Default Risk ‘Remains High’
Posted February 27th, 2012 at 8:35 pm (UTC-5)
The Moody’s credit rating company says the risk of a Greek default on its loans “remains high,” even after European leaders approved a new financial rescue for the country. Moody’s calls the $172 billion Greek rescue package “an important step forward.” But it says Greece’s debt will “remain large” for years, even after private creditors […]
Moody’s: Greek Debt Default Risk ‘Remains High’
Posted February 27th, 2012 at 7:15 pm (UTC-5)
The Moody’s credit rating company says the risk of a Greek default on its loans “remains high,” even after European leaders approved a new financial rescue for the country. Moody’s calls the $172 billion Greek rescue package “an important step forward.” But it says Greece’s debt will “remain large” for years, even after private creditors […]
Europe Prepares More Intense Crackdown on African Piracy
Posted February 21st, 2012 at 12:10 pm (UTC-5)
European powers are about to intensify their campaign against pirates active in the Gulf of Aden and other waters near Somalia. British Foreign Secretary William Hague announced London will fund the construction of a new anti-piracy center in the Seychelles and provide the center’s director. Hague said the Regional Anti-Piracy Prosecutions Intelligence Coordination Center will […]
Greek Cabinet Mulls Austerity Mandates
Posted February 18th, 2012 at 1:35 pm (UTC-5)
Greek cabinet members are discussing how best to implement a series of budget cuts and other austerity measures that have already sparked rioting in the streets. The officials gathered Saturday in Athens, facing several difficult choices. The austerity measures are needed in order to secure a $170 billion bailout from the European Union and again […]
Greek Cabinet Mulls Austerity Mandates
Posted February 18th, 2012 at 11:10 am (UTC-5)
Greek cabinet members are discussing how best to implement a series of budget cuts and other austerity measures that have already sparked rioting in the streets. The officials gathered Saturday in Athens, facing several difficult choices. The austerity measures are needed in order to secure a $170 billion bailout from the European Union and again […]
Greece Nears Approval of Second Bailout
Posted February 17th, 2012 at 3:45 pm (UTC-5)
After months of negotiations, European leaders are voicing new optimism that a $170-billion bailout for Greece will be approved Monday. German Chancellor Angela Merkel and Italian Prime Minister Mario Monti — after conferring Friday with Greek Prime Minister Lucas Papademos on a conference call — said they are confident that a Greek rescue deal can […]
Greece Nears Approval of Second Bailout
Posted February 17th, 2012 at 10:05 am (UTC-5)
After months of negotiations, European leaders are voicing new optimism that a $170 billion bailout for Greece will be approved Monday. German Chancellor Angela Merkel and Italian Prime Minister Mario Monti — after conferring Friday with Greek Prime Minister Lucas Papademos on a conference call — said they are confident that a Greek rescue deal […]
Greek Leaders Pledge Austerity Support as European Doubts Grow
Posted February 15th, 2012 at 3:30 pm (UTC-5)
Greece’s coalition leaders are pledging to carry out the country’s latest austerity plan, but the government also pointedly acknowledges some of its European neighbors may want the country out of the 17-nation eurozone. Both socialist leader George Papandreou, the country’s former prime minister, and conservative leader Antonis Samaras sent written pledges to eurozone finance ministers […]
Greek Leaders Pledge Austerity Support as European Doubts Grow
Posted February 15th, 2012 at 10:15 am (UTC-5)
Greece’s coalition leaders are pledging to carry out the country’s latest austerity plan, but the government also pointedly acknowledges some of its European neighbors may want the country out of the 17-nation eurozone. Both socialist leader George Papandreou, the country’s former prime minister, and conservative leader Antonis Samaras, sent written pledges to eurozone finance ministers […]
