Tag Archives: European Central Bank

Greece Struggles to Keep their Economy Afloat

  ATHENS – The coalition government of Greece applied for a bridge loan to cover their financial needs until September. Meanwhile, they are also trying to recover $11.7 billion in spending and this has prompted them to think up of a rescue plan to appease international lenders and exasperated investors. Read On..

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Greece Desperate for EC and IMF Help

BERLIN – German Economic Minister Philipp Rösler warned Friday that the Troika is exhausting his patience concerning the Government of Greece and the implementation of reforms to stabilize the country’s finances. The Troika is the supervisory committee composed of representatives of the European Commission (EC), European Central Bank (ECB), and Read On..

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Euro Loses Strength Against the Dollar

  NEW YORK – The Euro fell to a two-year slump against the dollar during the day on Wednesday, after the minutes of the meeting of the Federal Reserve (Fed) last May were released. It showed that there were imminent new bond purchases by the Fed, and that could be Read On..

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Cyprus Expects Help to Come in the Coming Weeks

NICOSIA, Cyprus – Cyprus officials hopes to complete the financial aid talks with their counterparts from the EU over the next three weeks. Results of the talks will urge future creditors to be lenient with the country, after the experience with the rescue of Greece. Last June 24, the Mediterranean Read On..

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Twelve Banks Confirm Participation in Greece’s Debt Swap Plan

  A dozen large banks that are part of the Institute of International Finance (IIF), announced their participation in Greece’s debt swap plan. The entities that have agreed to participate in the international financial plan of funding €130,000 million to save Athens from bankruptcy.   This operation involves the cancellation Read On..

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