BRUSSELS, March 5 (Reuters) – European Union finance
ministers asked international experts on Tuesday to suggest how
best to ease the return of Ireland and Portugal to debt markets
as they near the end of their programmes of emergency funding.
Ireland got a three-year European Union and International
Monetary Fund financing programme in late 2010 and Portugal got
the same in the second quarter of 2011 in exchange for a package
of fiscal austerity and structural reforms.
BRUSSELS (Reuters) – Euro zone finance ministers pledged on Monday to agree a bailout for Cyprus by the end of March, but details of how the rescue will be financed are yet to be sorted out.
Cyprus requested a bailout in June last year but it was not possible to reach an agreement with the last, communist-led government. A new, conservative government took office last month and negotiations have intensified.
BRUSSELS (Reuters) – Ireland and Portugal want up to 15 more years to pay back loans to the EU to ease their return to financial markets, but sources said on Monday that while an extension is likely it may not be as long as they want.
Irish Finance Minister Michael Noonan told reporters on Monday he was aware his demand may not be met and did not expect a decision at a meeting of finance ministers on Monday.
BRUSSELS, March 4 (Reuters) – Euro zone finance ministers
aim to reach a deal on bailing out Cyprus by the end of the
month, but details of how the rescue will be financed will only
be sorted out in the coming weeks, senior officials said on
Cyprus requested a bailout in June last year but it was not
possible to reach an agreement with the last, communist-led
government. A new, conservative government has now taken office
and negotiations have intensified.
BRUSSELS (Reuters) – Euro zone finance ministers will discuss how to fund a bailout of Cyprus on Monday with differing views on whether to make bank depositors pay a share of the cost.
No final decisions are expected until later in March.
Cyprus first requested a bailout in June last year but it was not possible to reach an agreement with the last, communist-led government. A new, conservative government has now taken office and negotiations will intensify in the weeks ahead.
BRUSSELS, March 3 (Reuters) – The ESM euro zone bailout fund
could set up subsidiaries to directly recapitalise banks to
limit the negative impact that buying bank equity would have on
its credit rating and lending capacity, a euro zone official
The Eurogroup of euro zone finance ministers meets on Monday
to discuss which banks should be eligible for direct
recapitalisation from the European Stability Mechanism (ESM).
BRUSSELS (Reuters) – Euro zone finance ministers expect talks on a bailout for Cyprus to gain new momentum on Monday, with a view to a deal with the island’s new government at the end of March, a senior euro zone official said.
New President Nicos Anastasiades promised on Thursday to work for a swift deal for to prop up the Mediterranean island’s banks, which need capital equal to Cyprus’s annual economic output.
BRUSSELS (Reuters) – The euro zone will not return to growth until 2014 and struggling Spain and France will be among those who miss debt-cutting targets as a result, the European Commission said on Friday.
Paris and Lisbon said they would seek more time from Brussels to reach their deficit goals. Madrid has already indicated the same.
BRUSSELS (Reuters) – Most euro zone countries will reduce their budget deficits this year even though the recession in the single currency area is likely to continue but some, like Spain, will badly miss agreed targets, European Commission forecasts showed on Friday.
France and Portugal will also miss their debt targets, the EU’s executive said. All three countries have already indicated as much and will now hope for more leeway from Brussels.
BRUSSELS (Reuters) – Several euro zone countries are likely to miss deficit cutting targets because of a weak economy, the European Commission is expected to forecast on Friday, but they may be granted extra leeway rather than face disciplinary action.
The European Union executive will publish economic forecasts for the 27-nation bloc for 2013 and 2014.