Papademos to present a budget for 2012

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AFP

Today the new Greece's premier Lucas Papademos will present the final version of next year's budget. PM's government is rushing to meet 3-month deadline to acquire international loans and escape a country's default. New government is supported by three out of five Greek governmental parties. Papademos must put into action budget measures to guarantee a bailout fund worth $176 bn. 

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Fri, 18 Nov 2011 09:39:46 GMT

German-French quarrel on ECB's role renewed

The incapability of European officials to stop debt crisis has reintroduced Franco-German clash over the role of European Central Bank as well as increased investor doubt over policy makers' competence. As Greek debt holder began talks of accepting 50% of losses, German and French counterparties unexpectedly showed resistance and bond yields outside Germany reached euro-era highs. 

Fri, 18 Nov 2011 15:34:36 GMT

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