IMF report said that the 41.3 billion euro lifeline aid offered by the European Union had helped the banks of Spain become strong. After its third visit to Madrid, IMF said that the implementation of the financial sector program remains on track.
The report was submitted by a committee, which was appointed to check the compliance of Spain towards the imposed conditions in July 2012. The committee consisted of Washington bas....Read More
EU leaders agreed on spending 6 billion Euros over next two years to support job creation, education of young people and lending to credit-starved small business. European Union has decided to take some measures to fight against youth unemployment, a fierce indication of economic crisis which still cripples 28-member union’s economy.
EU leaders agreed on spending 6 billion Euros over next two years to support job creation....Read More
European Union and IMF granted a lifeline aid to Greece. However, it was told to keep all of its promises by cutting jobs in the public sector and sell the assets of the state to generate cash. The lifeline was a 6.8 billion euro deal which would be under the constant watch of the IMF and euro zone. The strong stance taken by IMF and euro zone demonstrates the decreasing patience with Greece to keep it afloat.
The European Union’s executive arm is heading for a showdown with Germany over its blueprint for shuttering or restructuring failing banks, a plan intended to complement the European Central Bank’s oversight of lenders.
Michel Barnier, the EU’s financial-services chief, will unveil the European Commission’s proposal for a single bank resolution mechanism today in Brussels, a day after German Finance Minister Wolfgan....Read More
After a long time German export and industrial business is recovering in the economy. Leading for growth in eurozone powerhouse on track. Despite the unfortunate May data of Germany, the Organisation for Economic Cooperation and Development (OECD) said in its monthly report that the German development is getting back on track.
The portrait of eurozone on a whole continues to show a increase in momentum growth. A decline in ....Read More