Europe

Greece Completes Largest Debt Sale in Two Years

Greece Completes Largest Debt Sale in Two Years

Wall Street Journal

14 August 2012

Greece completed its largest debt sale in two years Tuesday, ensuring that it will have the money to repay bonds held by the European Central Bank next week.

The Greek Public Debt Management Agency said it sold €4.063 billion ($5.01 billion) of 13-week treasury bills at an auction, which included a 30% noncompetitive tranche. The uniform yield was 4.43%.

Turkey and the Euro CrisisEU Membership Losing Its Appeal

Turkey and the Euro CrisisEU Membership Losing Its Appeal

Der Spiegel

14 August 2012

Amid the euro crisis drama, Turkey has seen economic growth as its European neighbors have suffered. As a result, the country has a newfound confidence that makes EU membership seem less important. But the waning aspiration could stall important democratic reforms.

The World from Berlin 'Egypt's Moment of Truth Has Arrived'

The World from Berlin 'Egypt's Moment of Truth Has Arrived'

Der Spiegel

14 August 2012

President Mohammed Morsi has made the bold and surprising move to disempower the Egyptian military, but many questions still remain about the country's democratic future. German commentators on Tuesday praise his political finesse but worry Morsi may be paving the way for an Islamist state.

Merkel Handed Sub-Zero Yields as ECB Plan Gains Traction

Merkel Handed Sub-Zero Yields as ECB Plan Gains Traction

Bloomberg

12 August 2012

“There is no way that Germany will not be affected by this,” Thomson, who helps oversee $109 billion as a money manager at Ignis Asset Management in Glasgow, Scotland, said in an Aug. 3 interview. “Spain won’t be able to survive without external help. The bailout will add more burdens on Germany.”

Cyprus: The forgotten occupation

Cyprus: The forgotten occupation

Patrick O. Strickland

Bikyamasr, 12 August 2012

NICOSIA: The sun falls behind the jagged, mountain-peaked horizon, and the sky dissolves from a scarlet stained backdrop to soft, empurpled nighttime. In my native Texas, the lengthy battle between night and day paints a polychromatic scene of carnage across the sky; in Cyprus, the transition is so gradual that one scarcely has time to greet twilight.

When Will Turkey Join the European Union?

When Will Turkey Join the European Union?

CNBC News

12 August 2012

Maslak is a neighborhood and one of the main business districts of Istanbul, Turkey.

“For the 25 years I’ve been in Turkey, EU accession has been 10 years away,” said Hugh Pope, Turkey/Cyprus project director of Crisis Group. “At the moment, the process is dead in the water. That doesn’t mean it can’t be revived.”

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