EU finance ministers consider crisis fund to stave off bankruptcy threat
FINANCE ministers were struggling last night to set up a fund worth potentially hundreds of billions of euro to shore up countries in danger of going bankrupt. In an attempt to see off speculators once and for all, they worked against a deadline of 2am this morning when the markets open in Japan. World leaders, […]
EU assembling ‘big bang’ response to euro crisis
AFTER MONTHS of indecision, moves to set up a rescue mechanism for all euro countries are a huge leap into the dark for the European authorities. The development, which marks a capitulation to market forces, suggests EU leaders perceive a serious threat to the single currency in the turmoil unleashed by Greece’s financial crisis. As […]
‘Fat tax’ on junk food as prices may rise to boost the war against obesity
Junk food and sugary drinks could be hit with ‘fat taxes’ in an effort to combat obesity and help fill the black hole in Government finances. The Food Standards Agency is planning to consult on whether such taxes would help make people eat healthier food. If imposed, the taxes would operate on the same principle […]
UPDATE 4-EU eyes 600 bln euro crisis mechanism, sources say
BRUSSELS, May 9 (Reuters) – European Union finance ministers sought agreement on Sunday on emergency measures that could be worth up to 600 billion euros ($805 billion) to prevent Greece’s debt crisis spreading to other countries in the euro zone. Vowing to do everything to defend the euro against the „wolfpack” of the financial markets, […]
Euro Finance Chiefs Debate Rescue Fund
Jo Couzens and Rob Cole, Sky News Online European finance chiefs are holding emergency talks to find a way to restore the euro’s credibility before the world financial markets reopen. The aim is to convince speculators that the debt crisis in Greece will not spread to other struggling single currency countries such as Spain and […]
EU ministers pledge billions in a gamble to save the euro
Emergency bailout fund established for single-currency states amid fears that economic meltdown could spread worldwide European leaders have reached an agreement to create a special fund to avert a full-scale euro crisis. Photograph: AP/Joerg Sarbach European leaders were forced today into radical action in an attempt to save the euro, agreeing for the first time […]
EU ready to spend €500bn to contain crisis
IMF and the ECB join the EU in its effort to shore up the euro and protect the eurozone’s weakest economies. The European Union’s finance ministers agreed early this morning to make available loans of up to €500 billion to counter any possibility of default on government debt in the eurozone. The International Monetary Fund […]
Eastern Europeans Still Eager for Loans
FRANKFURT — No other region of the world suffered more grievous economic damage from the financial crisis last year than Eastern Europe, and a main cause was extensive borrowing in euros and other foreign currencies. When the currencies of countries like Hungary and Romania plunged last year, thousands of businesses and homeowners there found themselves […]
Transcript of a press Briefing by Caroline Atkinson, Director, External relations Department
MS. ATKINSON: Good morning everybody. Welcome to the regular EXR briefing from the International Monetary Fund. I’m Caroline Atkinson, the Director of External Relations at the IMF. As usual, this briefing is embargoed until 10:30 a.m. Washington time, 1430 GMT. I would just like to start by reminding you of some upcoming events. You probably […]
Theatre Review: Gordon Brown: A Life In Theatre
GUERRILLA theatre, the Traverse called it; and it was certainly part of a time-honoured tradition of instant theatre written to capture current events, dating back to the left-wing „living newspapers” of the 1930s. Written on Monday, put together on Tuesday, rehearsed on Wednesday, and given two election-day performances at the Traverse on Thursday, Gordon Brown: […]
