Tag Archives: crisis

Fears Of A Eurozone Split As Greece Plumbs New Depths In Debt Crisis – 28 September 2011

Fears Of A Eurozone Split As Greece Plumbs New Depths In Debt Crisis, Huffington Post UK, by Michael Rundle, 28th sept. 2011

Concerns are growing of split in the eurozone over the terms of Greece’s second 190 billion euro (£166 billion) bailout, as the president of the European Commission warned that the EU faces its “greatest challenge” over the spiralling debt crisis.

Up to seven of the eurozone’s 17 members are reported to be unhappy with the current bailout deal for Greece, and are arguing in private for creditors to accept a bigger write down on their Greek bond holdings.

The split has emerged due to concerns that the situation regarding Greece’s sovereign debt is even more dire than previously thought.

German and Dutch officials are said to be leading the push for the private sector to take on more of the losses. France and the European Central Bank are said to be opposing the move.

Jose Manuel Barroso, the head of the European Commission, told MEPs on Wednesday that the EU now faces its “greatest challenge”, but remains confident that Greece will stay in the eurozone.

“This is not a sprint but a marathon,” he said in his annual State of the Union address in Strasboug.

He also proposed a tax on financial transactions and eurobonds while urging members to consider an even closer economic union.

Chancellor George Osborne has previously said he opposes the tax, arguing that it would simply cause foreign exchange markets to move overseas.

Meanwhile there have been renewed protests in Athens after politicians agreed to impose an unpopular new property tax via electricity bills.

Up to 1,000 demonstrators protested on Syntagma Square as police fired tear gas to break up the crowds.

The tax, which would levy 16 euros per square metre of property, will affect around 70 per cent of the Greek population who own their own homes. By attaching the tax to the electricity bill, those who refuse to pay run the risk of having their electricity service turned off.

The move is designed to plug the near 2 billion euro budget gap between revenue and debt.

China Willing To Buy From Sovereign Debt Crisis Nations Zhang Says

China Willing To Buy Bonds From Sovereign Debt Crisis Nations Zhang Says via Bloomberg.com 15th september 2011

 

My comment: In my article yesterday I already said that what ever interventions now are being made none will help eventually. There will be an other iceberg in front of the Titanic so the ship will sink and the financial system will collapse. It  is needed to do so and make way for the new money and financial system that is out of private hands and in public hands. The new system will be in place soon and makes it possible that all debt will be deleted and abundance is being given to all people of this world.

 

Europe Close To Banking Crisis

Europe Close To Banking Crisis – El Erian- Bloomberg.com by John Detrixhe and Tom Keene

G-7 Finance Chiefs Vow to Support Banks as Euro-Zone Crisis Roils Markets

G & Finance Chiefs Vow To Support Banks As Euro Zone Crisis Roils Markets 

via Bloomberg.com by Simon Kennedy and Theophilos Argitis

Israel Tries To Calm Crisis over Egyptian Deaths

Israel Tries To Calm Crisis over Egyptian Deaths

 

via Euronews.net

 

 

A North Atlantic economic crisis – Counting the Cost – Al Jazeera English

 

 

A North Atlantic economic crisis – Counting the Cost – Al Jazeera English.

courtesy Aljazeera English Channel.

NCPR: Global policymakers discuss debt crisis, market turmoil 7 August 2011

NCPR: Global policymakers discuss debt crisis, market turmoil (2011-08-07).

Deal reached to end debt crisis

Official presidential portrait of Barack Obama...
Image via Wikipedia

Barack Obama announces Democrat and Republican leaders have reached an agreement to reduce the US deficit and avoid default.

via Deal reached to end debt crisis.