European debt crisis Current Affairs, GK & News

EIB skeptical about recovery of Eurozone crisis within two years

The European Investment Bank (EIB) is doubtful about the recovery of Euro zone from its debt crisis within the next two years. As per the Bank the pressure on the European member state to settle the situation will remain for a longer time. The bank, however, believes that the political framework to tackle with the ..

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EU offers Spain bank financial aid and more time to cut deficit

European Union has offered ailing Spain more time and 30 billion euro to save the country’s banks and protect Europe from more debt crises. EU ministers promised to provide the funds with 100 billion euro ($123 billion) potentially available in all. EU finance ministers have also agreed to extend a deadline for Spain to reduce ..

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European Union to utilize Eurozone’s permanent bailout funds to help troubled banks

The EU leaders have decided to use the Eurozone’s permanent bailout funds to support struggling banks directly, without raising government debt. EU leaders also agreed that bailout funds could be utilized to stabilize financial markets, which implies buying government debts or bonds. These are steps that Spain and Italy desired, to curtail their borrowing costs ..

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Antonis Samara: New Prime Minister of Greece

The leader Antonis Samara, leader of New Democracy Party (NDP), a sworn in as the Prime Minister of Greece.  Samaras’s clinched 129 seats of 300 in the parliamentary elections. The NDP formed the new government with the support of socialist party Pasok and the Democratic Left party. Greece is going through the severe economic upheaval ..

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Indian GDP to crawl at 6.7% in 2012: UN

The UN hewed down its growth predictions for India for the year 2012 by predicting a 6.7% growth rate rather than a 7.7% rise estimated earlier. UN declared Eurozone Debt Crisis as the biggest threat to the world economy. As per UN:- Global economy to grow by 2.5% in 2012 and 3.1% in 2013. It ..

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