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sovereign debt crisis

EU Leaders Finalise New Treaty On Fiscal Stability

eu summit EU leaders of the 17 eurozone countries have finalised a new treaty on stability, coordination and governance in the Economic and Monetary Union which will be signed in March, they said in a statement.

More of the Same for New Greek PM - Strike Turns Violent

greece strike Another 24-hour general strike has paralysed Greece and reports from the capital Athens say that a group of hoodlums has thrown a molotov cocktail at riot police and damaged nearby cars.

EU Bonds Could Lead To Larger, More Liquid Market Than US Treasuries

EU stability bondsIssuing EU joint bonds is part of a package of measures to deal with the sovereign debt crisis in the EU and could lead to a larger and more liquid bond market that US Treasury bonds, said Jose Manuel Barroso, Commission president.

Loukas Papademou Appointed Interim Greek PM

Loukas Papademou been appointed as interim prime minister of Greece after George Papandreou's resignation and an agreement between political leaders to hold elections in February 2012, according to an official statement by the Greek presidency.

No More Time Left on Austerity Measures - Neophytou

cyprus economyOpposition deputy leader Averoff Neophytou has sounded another alarm bell over the slow pace of austerity measures needed to cut the deficit and reduce state spending.

Papandreou Welcomes Opposition Support for Debt Deal

greece debt crisisThe decision by New Democracy party to support the 26th October deal with the EU and IMF to devalue Greece's debt by 100 billion euros is a great one, said Prime Minister George Papandreou, who today lost his parliamentary majority after two PASOK deputies said they would not vote for the government in tomorrow's vote of confidence.

New Crisis Hits Greek Government Over EU Debt Deal

greece crisisIn a surprise move that has raised fears of new uncertainty for international markets, Greek Prime Minister George Papandreou has decided to seek support for the EU deal through a vote of confidence in the Hellenic Parliament on November 4th and a referendum from the Greek people set for December or January.

Cyprus Banks Recapitalisation Estimate at 3.6 Bln

cyprus banks recapitalisationCyprus banks' recapitalisation needs are estimated at 3.6 billion euros, said a statement from the Central Bank following yesterday's high-level agreement to recapitalise banks through the European Financial Stability Fund (EFSF), now set to be boosted by 106 billion euros.

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