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4th Iron Law of the Eurocrisis
Nothing ever gets done without creating a crisis first. The fourth law assists in explaining the periodic fits of brinkmanship politics in the eurozone. There is serious resistance in the Northern tier...
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Germany Approves Bailout for Spain
No further austerity for Spain, says Rehn – FT.com. Rehn stating that Spain will not have to make more budget cuts means that either the ECB will keep Spain afloat by purchasing its debt or Spain will...
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No Progress Made on Greek Aid Deal
Euro zone, IMF make progress on Greece: Juncker | Reuters. The Reuter’s headline is accurate. Juncker says that the eurozone and the IMF are moving forward on a deal to adjust Greece’s second bailout...
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IMF and Eurozone Spar Over Reality
Lagarde says Greek program should be rooted in reality | Reuters. IMF urges permanent solution for Greece – FT.com. In the Eurocrisis, reality is in the eye of the beholder. The eurozone is committed...
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IMF and Eurozone Remain at Impasse
Euro Finance Officials Meet to Jump-Start Agreement on Greece – Bloomberg. Despite all of the happy talk emanating from Brussels and Manila, the Eurozone and IMF remain at an impasse regarding Greek...
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Ratings Agencies Experience the Wrath of France
Credit Rating Firms in EU to Face Sovereign-Debt Limits – Bloomberg. In response to its recent credit downgrade by Moody’s, France has engineered new rules restricting when credit rating agencies (CRA)...
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European Commission Approves Bailout of Four Spanish Banks – NYTimes.com
European Commission Approves Bailout of Four Spanish Banks – NYTimes.com. Bankia Details Deep Cuts – WSJ.com. Bankia to cut 6,000 jobs for EU aid – FT.com. Spain to overhaul rescued banks as condition...
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EU Bureaucrats Want U.S.E
The euro is a currency with a state, says ECB’s Coeure | Reuters. The Brussels’ Eurocrats never pass up a chance to plead for a United States of Europe. Benoit Coeure, and ECB apparatchik, is the...
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Cyprus Bailout Taking Shape
Euro zone and Russia near debt compromise on Cyprus | Reuters. The Eurozone’s crisis fighting efforts boil down to spending the minimum amount of money to keep members within the common currency, also...
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Around the Globe 06.26.2013
ECB Monetary Policy to Stay Loose – WSJ.com. Loose ECB monetary policy is not fueling the growth of loans to the private sector. While the ECB is quick to blame “transmission problems,” there are two...
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