The European Union has today announced that Greece has met the conditions of its loan and will therefore receive the second instalment of its bailout loan on 13 September. In May, the EU and the IMF agreed to loan €110 billion. The three-year rescue deal comprises €80 billion from the EU, with the rest...
Posted to
Finance
on 08-19-2010
Filed under: All Financial News, Economy News, conditions, Debt News, deficit, IMF, growth, loan, EU, second, Greece, austerity measures, instalment, met
International Monetary Fund (IMF) and European Union (EU) auditors have today said Greece has made “considerable progress” in dealing with its public deficit.
For many months now, Greece has been making big cuts to public spending. However, this has met with strong opposition from unions.
Greece’s two...
Posted to
Finance
on 08-05-2010
Filed under: All Financial News, Economy News, Debt News, deficit, IMF, International Monetary Fund, loan, EU, strike, European Union, September, cuts, Greece, protests, instalment, audit, progress
The International Monetary Fund (IMF) has today lifted its global growth forecast for 2010 to 4.6%, up from the 4.2% forecast in April.
However, it maintained its 2011 growth forecast at 4.%. The upward revision for 2010 comes despite ongoing financial turmoil in the euro zone, triggered by Greece’s...
Posted to
Finance
on 07-08-2010
Filed under: All Financial News, euro zone, Economy News, forecast, Debt News, IMF, growth, global, International Monetary Fund, risks, revision, upward
Financial commentators, like financial markets, move in herds. Is the herd wrong about Greece?
The herd takes the view that Greece will sooner or later have to restructure its debt. According to herd thinking, the €110bn rescue plan arranged for Greece by its eurozone partners and the International Monetary...
Posted to
Comment
on 07-06-2010
Filed under: imf, fiscal policy, eurozone, euro, European monetary union, Greece, EU fiscal policy, sovereign debt crisis