Debt

Article Information: Category: July 2011; Created on 21 July 2011

Leaders of the eurozone countries have agreed a new bailout package for Greece worth 109bn euros ($155bn). It includes, for the first time, support from private lenders, including banks, which will give Greece easier repayment terms.

Article Information: Category: July 2011; Created on 20 July 2011

Ahead of an emergency eurozone meeting on a second Greek bail-out on July 21 in Brussels, a mix of new options has emerged in an effort to shift part of the costs to creditor banks – without triggering a default call by international ratings agencies.

Article Information: Category: June 2011; Created on 30 June 2011

Chinese Prime Minister Wen Jiabao was welcomed with open arms on a trip to three EU states on a four-day trip beginning on June 25 that involved visits to Hungary, Britain and – on a larger scale – Germany. The theme of his European swing was a “new chapter” in China’s relations with Europe, apparently signaling a change in the longstanding Chinese attitude of dismissing the EU as a significant international player.

Article Information: Category: June 2011; Created on 20 June 2011

With Athens’ new debt bail-out hanging in the balance this week, the economic situation -- even for a comparatively small EU country such as Greece – could hardly be more dire. Even now, however, the country’s overall accounts might be susceptible to a recovery via a combination of international help and Greek commitment. But a growing threat to that formula for success is the increasingly obvious failure of Greece’s political class. After years of shirking responsibilities for the country's long-term future, Greek leaders may be unable at this point to rally the nation to face a major crisis.

Article Information: Category: June 2011; Created on 09 June 2011

In a valedictory speech before leaving the European Central Bank in October at the end of his eight-year term, Jean-Claude Trichet called for the creation – eventually – of a central finance ministry for the eurozone with powers to intervene in the budgetary and economic decisions of member states.

European Institute

"Bail-out 2.0" for Greece Set by Eurozone; Step Risks Temporary Default by Athens (7/21)

"Bail-out 2.0" for Greece: Emergency EU Meeting Has New Ideas (7/20)

China Pledges to Help EU on Debt and Investment (6/30)

Political Failures of Greece's Democracy May Doom Economic Future (6/20)

Trichet Says Eurozone Will Need a “Finance Ministry” (6/9)

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