After five months of struggling to stay afloat in the quicksand of a debt crisis, Greece has finally asked the European Union and the IMF to throw it a lifeline.
Global News Journal
The European Commission’s agriculture department launched a public debate this week on the future reform of Europe’s common agricultural policy (CAP) from 2014. It wants everyone – not just farmers and politicians – to have their say on how the European Union should support agricultural production.
The surge in the spread of Greek bond yields over German ones since European leaders issued a promise of emergency loans to Greece last month indicates financial markets do not believe the pledge of euro zone support is anything more than a bluff.
In the space of a few weeks, the idea of creating a European Monetary Fund to rescue financially troubled EU member states has gone from being a high-level brainwave from a pair of economists to a major policy initiative backed by powerbroker Germany. In EU terms, that’s Formula One fast.