Europe

Eurozone demands six-day week for Greece

Eurozone demands six-day week for Greece

Government in Athens under pressure to introduce a six-day working week as part of the terms for a second bailout

Ian Traynor, The Guardian, 4 September 2012

Greece's eurozone creditors are demanding that the government in Athens introduce a six-day working week as part of the stiff terms for the country's second bailout.

European Parliament President Call for Political Union Now is 'Dramatic Mistake'

European Parliament President Call for Political Union Now is 'Dramatic Mistake'

Der Spiegel, 4 September 2012

Leaders in Germany and elsewhere are making a big mistake by focusing on long-term EU reform when fast decisions are needed, says Martin Schulz, the president of the European Parliament. The German Social Democrat tells SPIEGEL that Europe needs to pool its debt, give the ESM a banking license and help Greece return to growth.

Trichet: Bond buying program may be 'justified'

Trichet: Bond buying program may be 'justified'

Oliver Joy, CNN News, 4 September 2012

London (CNN) -- A bond-buying program to rescue debt-ridden European nations could be "justified" to counter dysfunctional markets, Jean-Claude Trichet, former European Central Bank president, has told CNN.

The ECB’s (Sort Of) Stable Euro

The ECB’s (Sort Of) Stable Euro

James Neuger, Bloomberg, 4 September 2012

The euro has remained “remarkably stable” despite the debt crisis, the Brussels commentariat heard from the European Central Bank yesterday. Summarizing a report released in July, ECB officials said at the Bruegel research institute that the currency’s relative buoyancy, and steady share of international reserves and capital flows, are signs of market confidence that it will stay in one piece.

Albanian extremist groups cause reaction in Greece

Albanian extremist groups cause reaction in Greece


Sep 2, 2012

Ioannnis Michaletos

Since 2010 and the beginning of the Greek debt crisis which has resulted in an outright economic depression in the country, the Greek security services have investigated around the potential of extremist groups, in this particular case, Albanian ones; taking advantage of the situation for either criminal or nationalistic purposes. The research has provided data of increased importation of armaments into the country, as well as, the formation of close-knit potential extremist groups within the Greek territory that are for the moment in communication with other cells in Albania and elsewhere.

Europe's September Phoenix

Europe's September Phoenix

Frances G. Burwell & Nicholas Dungan |

September 01, 2012

 

As European leaders return to work after their summer holidays, they will find many of the same problems they left behind: the sovereign debt crisis, a vulnerable banking system and an unreconciled division over austerity vs growth. Amid the doom and gloom, however, it is worth pausing to celebrate how far Europe has come.

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