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Tag Archives: portugal

EU Commission Predictions: Greece Recession -4.7%; Rest of EZ-South Does Not Feel Better Either…

I think it’s high time for European bureaucrats to take a deep, passionate look into the euro zone countries realities and thoroughly review their economic strategies. In its 2012 forecast report about growth within the EZ, the European Commission announced the griming predictions for the EZ in general and the European South in …

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What Will Happen if Greece Leaves the Euro?

There is so much talk these days about a possible euro exit of Greece, especially under a left, anti-bailout government. I found an very interesting article about the consequences for Greece and the other Euro countries. The author, an Italian, asked several market experts on the impacts that “such a shock” would …

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IMF to Replace Poul Thomsen from Greek Post?

Does the International Monetary Fund (IMF) considers to replace Poul Thomsen? Will the Danish numbers-Wizard will have to leave his favorite Greek post? According to daily TA NEA, rumors have it that the Danish head of IMF in Greece will be replaced by the same man who replaced him in …

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Pimco:”Greece was a Zit, Portugal is a Boil, Spain is a Tumor”

That’s an economic analysis and dermatological condition description in 140 characters. Bill Gross, bond guru and manager at the world’s biggest investment management company PIMCO used his Twitter account to schratch some pimples from the bottom side of his Frankenstein moon. “Bill Gross, the world’s biggest bond manager, put the matter …

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Bundesbank: No ban on Sovereign Debt Collateral from Greece, Ireland & Portugal

UPDATE: Germany΄s Bundesbank said on Monday (April 2/2012) that it will continue to accept all euro zone sovereign bonds as collateral in its lending operations, rejecting media reports that it had stopped taking debt from EU/IMF programme countries. On March 30, German daily Frankfurter Allgemeine Zeitung reported, that Germany’s Bundesbank …

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Germany, Greece and Seven Other EZ Members Support the Tobin Tax

Germany, Greece and seven other eurozone member countries support the idea of “Tobin Tax” (FTT) on financial transactions. German daily Sueddeutsche Zeitung reported, the finance ministers of Germany, Greece, Italy, France, Austria, Finland, Belgium, Spain and Portugal sent a letter to EU Danish Presidency and request to “overcome all relevant difficulties until …

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Eurostat: Recession in Greece at -7% in Q4 2011

Recession in Greece hit -7% in the last three months of the 2011, in comparison to the same period of 2010, according to latest Eurostat report. Recession has been also recorded in Portugal (-2.7%), Slovenia (-1.5%), the Netherlands (0.7%), Italy and Cyprus (-0.5%). The biggest growth was recorded in Lithuania …

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German FinMin’s Sweet Whispering: Schaeuble Promises to Rescue Portugal, Once Finished with Greece (video)

There they are at the Eurogroup meeting on Thusrday, Feb 9, 2012: German Finance Minister Wolfgang Schaeuble and his counterpart from debt-ribben Portugal, Vitor Caspar. The two men speak with a low voice, secretly. In fact, it is the German FinMin who gives the tune and the Portuguese bows his head approvingly. Schaeuble: “If then there would be …

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Is Portugal the Next Greece? And How About Ireland?

While Greece struggles in Brussels to convince its European partners of its good intentions, Portugal seems to follow the path of Greece. The IMF prescription programme didn’t help the Portuguese economy either. On Monday borrowing costs for Portugal rose to euro-era highs. The same happened with CDS that hit a record of …

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Troika-EU Repr. Kröger: Portugese Are Better than Greeks!?

Apparently, debt-ridden and well-behaved Portuguese are better than broke and defiant Greeks. In fact, “Portuguese are good and Greeks  are …bad (?)” if we want to believe German Juergen Kroeger, EU representative of the Troika group supervising the bailout package in  Portugal. This sentence from Kroeger angered the journalists in Portugal …

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The Never Ending Plight of Greek Debt Drives CDS & Spreads High

ECB President Jean Claude Trichet made on Thursday a clear point on Greek Debt and the additional bailout. “ECB’s position does not change. Participation of private sector is voluntary. We don’t want a ‘selective default”. Trichet was speaking during a press conference and gave this answer when he was asked …

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