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Archives for bail-out

Inspiring confidence?

The European Commission’s reaction to the Standard & Poor’s credit rating downgrade of Greece to “junk” status: “Who is Standard & Poor’s by the way?” asked Amadeu Altafaj, the spokesman for E.U. Monetary Affairs Commissioner Olli R…

Posted by Open Europe blog team

Eurozone finance ministers yesterday agreed on a €30bn loan commitment to Greece over the next year, as part of a three-year commitment, with the IMF potentially coughing up another €10-15 billion. The interest rate on the loans is set at five p…

Posted by Open Europe blog team

As details of a possible bailout plan for Greece, which could emerge from tomorrow’s EU summit, are leaked, it is becoming clearer that ‘solidarity’ for some EU leaders is not a one way street.And we are not necessarily referring to German demands for …

Posted by Open Europe blog team

Another twist

Here’s another thought for the weekend.Apart from the legal obstacles (at least on paper) involved in giving emergency support to Greece – something we’ve touched on many times before – there may be a second legal hurdle that EU leaders have to clear …

Posted by Open Europe blog team

As Greece’s troubles continue (save yesterday’s temporary boost), the debate on whether the EU Treaties legally allow the EU to bail out one of its member states rages on. On his blog, the FT’s EU correspondent Tony Barber claims that the “EU possesses…

Posted by Open Europe blog team