ECB lending to IMF for bailouts is getting more probable

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Source: Marketwatch
© Scanpix/Reuters

Proposal envisaging ECB provide loans to IMF to finance bailouts in Eurozone that is standing at the threshold of severe debt crisis attracting more and more attention, reports Dow Jones Newswires. Germany and ECB do not accept the measure but in view of growing threat of Eurozone's recession there may not be any other alternative than to approve the proposal.

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Fri, 18 Nov 2011 14:58:57 GMT

Greece will decrease its deficit

The new government of Greece is discussing measures to prevent debt crisis. Finance Minister Evangelos Venizelos made a forecast that the deficit will decline from 9% of GDP in 2011 to 5.4% in 2012. The reason is that commercial banks write off one half of Greece's debts as part of the Eurozone's bailout strategy.

Fri, 18 Nov 2011 15:34:36 GMT

Oil Spill near Rio de Janeiro coasts

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