The former prime minister added that had he mentioned this conversation to anyone, it would create turbulence on markets and in the economy. READ MORE: Fears of Grexit Grow as IMF and EU Fall Out Over Bailout Program Samaras noted that then, Greece managed to meet all preconditions for receiving a huge 54 billion euro ($60 billion) loan. In an interview with the Skai broadcaster published on Thursday, the former prime minister said that he met with Merkel in Berlin on 24 August 2012, when they discussed the crisis in Greece and Merkel asked Samaras if he wanted Greece to leave the Eurozone. Merkel added that there was a plan B to help Athens in that case. © AP Photo / Yorgos KarahalisReverse Synergy: Grexit and Brexit Together Could be Catastrophic for the EUThe three-year financial assistance program of the European Stability Mechanism (ESM), the international financial institution set … [Read more...] about Merkel Offered to Remove Greece from the Eurozone
Date created : 22/05/2019 - 13:21 Lisbon (AFP) Portugal plans to become the first eurozone nation to issue so-called panda bonds, renminbi-denominatedbonds issued by a non-Chinese entity, by raising some 240 million euros next week, the nation's finance ministry said Wednesday.One of the European countries most open to Chinese investment, Portugal plans to place two billion renminbi, or yuan, of three-year bonds, according to a finance ministry spokesman."The objective of the issue is to enter a large market with strong liquidity," junior finance minister Ricardo Mourinho Felix was quoted as saying on the financial news website ECO.However the amount of the panda bond issue is just a small portion of the estimated 16 billion euros in government bonds and bills that Portugal plans to issue this year.Portugal has been studying issuing panda bonds since 2017 but work on the project picked up speed after a visit last December by Chinese President Xi Jinping, the newspaper Jornal de … [Read more...] about Portugal to issue ‘panda bonds’ in eurozone first
Back in 2012, Mario Draghi committed to do “whatever it takes” to put the euro back on track. This influential statement brought the euro crisis to an end, and proved so powerful that precautions to safeguard the Eurozone, such as the Outright Monetary Transactions facility, did not need to be used. With Draghi’s term as president of the European Central Bank (ECB) coming to a close in October, we have to consider the Eurozone without him. The fundamental question around his successor is how they will approach Draghi’s commitment to do “whatever it takes”. Although we would expect any successor to publicly recommit to this statement, their actions may transform its meaning, depending on how hawkish or dovish that individual may be. With no confirmed successor, the euro faces uncertainty. That said, we would expect monetary policy to stay loose and interest rates to stay at zero for some time following Draghi’s departure. Ultimately, a change in … [Read more...] about What will happen to the Eurozone when Mario Draghi steps down?
Business By Dharshini David Economics correspondent 19 May 2019 Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share this with Facebook Share this with WhatsApp Share this with Messenger Share this with Twitter Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link https://www.bbc.com/news/business-48258720 Read more about sharing. These are external links and will open in a new window Close share panel A senior adviser to the German government fears another European financial crisis could be brewing. … [Read more...] about Warning over ‘new eurozone crisis’
Eurozone prices rose by 1.7 per cent in April, in line with previous forecasts, while core inflation beat expectations. Consumer prices in the bloc rose 1.7 per cent higher year-on-year from 1.4 per cent in March, according to EU statistics agency Eurostat. Read more: Eurozone trade surplus grows in sign of recovery for struggling area The closely-watched core indicator, which excludes volatile energy and food prices, rose to 1.4 per cent in April, beating previous estimates of 1.3 per cent. The figures will offer some relief to the European Central Bank, which targets inflation of just below two per cent. The highest contribution to the annual inflation rate came from services, which rose 0.86 percentage points (pp), followed by energy and food, alcohol and tobacco. “Despite the undoubted role that higher oil prices have played on the headline inflation measure in recent months, the large rise in core inflation also suggests that underlying internal inflationary pressures are … [Read more...] about Eurozone core rate revised up as inflation hits estimates