Topic: Eurozone crisis

Greek PM Alexis Tsipras resigns

Greek Prime Minister Alexis Tsipras has announced his resignation in a televised address to the debt ridden nation which is centre of Eurozone crisis. He has submitted his...

August 21, 2015

Greece agrees bailout deal 'in principle' with its creditors

Greece has agreed a new in principle multi-billion euro bailout deal with its creditors. It was announced by the European Commission (EC) after series of marathon talks between...

August 12, 2015

Greece becomes first developed nation to default IMF debt

Greece has become the first developed nation to default on International Monetary Fund (IMF) debt. It has defaulted on a 1.7 billion dollars payment to IMF. The deadline...

July 2, 2015

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...

July 11, 2012

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...

June 30, 2012

IMF: India’s growth Forecast: 7.8%

The International Monetary Fund (IMF) and trimmed its forecasts of economic growth for India, China and other Asian developing economies due partly to slower growth in the rest...

November 30, 2011

European Debt Crisis

Background: The Euro’s introduction in 1999 came along with unified interest rates in the nations that share the currency. These unified interest rates allowed members to borrow heavily....

November 30, 2011

Release of $2.1 billion more for Ireland bailout by IMF

Another $2.1 billion of the rescue package will be released for Ireland by the International Monetary Fund (IMF). According to the IMF, Irish economy was showing signs of...

November 5, 2011