Germany’s lower House of Parliament voted overwhelmingly on April 18 to grant Cyprus a 10 billion euros ($13 billion) bailout to keep the island country’s economy and banking system from collapsing because of bad loans and over exposure to Greek bonds that were devalued 74 percent. Of the 602 lawmakers in the Bundestag chamber, 487 [...]
Tag Archives | Wolfgang Schaeuble
Schaeuble Rejects WWII Reparations For Greece
German Finance Minister Wolfgang Schaeuble, a hardliner insisting on harsh austerity measures in Greece in return for international aid – much of it supplied by his country – said Greece will never reparations for damage inflicted by the Nazis in World War II despite a report which found Germany owes 154 billion euros ($201.6 billion). [...]
Schaeuble: Cyprus is a “special case”
German Finance Minister Wolfgang Schaeuble has said savings accounts in the eurozone are safe, adding that Cyprus is a “special case” and not a template for future rescues. In an interview with Bild newspaper published on Saturday, Schaeuble distanced himself from comments on Monday by Eurogroup chairman Jeroen Dijsselbloem, who said the rescue programme agreed [...]
Schaeuble Says Greek Credibility Returning
By continuing to implement harsh austerity measures, Greece is restoring faith from investors but must keep imposing tough reforms if it wants to keep getting international bailouts, German Finance Minister Wolfgang Schaeuble, who has been a hard-line, told a Greek newspaper. “Greece is on track to regain credibility. The more credibility it gains the easier [...]
Schaeuble: Cyprus Bank Creditors Must Share Burden of Bailout
The euro zone stands ready to help bail out Cyprus but the burden must be shared by its financial sector otherwise the island’s economy will collapse under its public debt, German Finance Minister told a Greek newspaper on Friday. “The perception that this (Cyprus) problem can be solved only by taxpayers in the euro zone [...]
ECB Says Greek Condition Still Serious
Just as the Greek government has declared the country’s recession, now in its sixth year, will recover by the end of the year, thanks to international bailouts and harsh austerity measures, comes a warning that the crushing economic crisis isn’t over yet. Joerg Asmussen, an executive board member of the European Central Bank, said in [...]
Schaeuble Tells Tsipras No Option to Austerity
German Finance Minister Wolfgang Schaeuble told Greek leftist opposition Coalition of the Radical Left (SYRIZA) leader Alexis Tsipras on Jan. 14 that there won’t be any changes to the tough austerity program being pursued by the conservative-led government, conditions that Tsipras said he would scrap if he ever takes power even though he hasn’t offered [...]
Cypus Denies Money Laundering Hub
Cyprus, awaiting big international bailouts as for its banks to be saved after suffering huge losses when the Greek government imposed big hits on holders of Greek bonds, is not a hub for money laundering, Finance Minister Vassos Shiarly said as he urged the Eurozone to provide quick help. Cyprus applied for financial aid last [...]
ECB: Greece Set to Return to Growth in 2014
The Greek economy is likely to start growing again in 2014, a top European Central Bank official said in a newspaper interview released Friday. “Greece will probably be able to show economic growth again in 2014,” ECB executive board member Joerg Asmussen told the regional daily Rheinische Post in a pre-release of an interview to [...]
Bloomberg: Europe’s Plan C for Greece is No Better than Plans A or B
Europe’s leaders have reached Plan C in their efforts to rescue Greece. Unfortunately, it lacks a crucial element also absent in Plans A and B: adequate debt relief, according to Bloomberg΄s view. The agreement between euro-area finance ministers and the International Monetary Fund is welcome and overdue. It provides much-needed support for a Greek government [...]
Schaeuble Rejects Haircut On Greek Debt For Public Sector
German Finance Wolfgang Schaeuble reiterated his opposition to any haircut on Greek debt held by the public sector, speaking during a television interview on Sunday. Schaeuble told German ARD public television that under national budget rules such a haircut would forbid the government to give any new loans to Greece or sign guarantees for loans [...]
Schaeuble: 3 Greek Payments Due Show Need for Control
German Finance Minister Wolfgang Schaeuble said that with aid payments to Greece from the last three quarters due by year-end, euro-area governments need to come up with an enhanced “control mechanism.” “You’ll run up three tranches by the end of the year,” Schaeuble told reporters today in Brussels, when asked if all three would land [...]
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Calendar – Exhibits, Concerts, Fun
- Greek-By-Choice Pedro Olalla Honored May 20, 2013
- AHEPA Day Celebration Hosted In Athens May 20, 2013
- Greek Gastronomy Days At Benaki Museum May 20, 2013
- Open Call for Greek Designers May 19, 2013
