ATHENS | The posibility of Greece leaving the euro area is actual in the beginning of the IMF mission, the EC and the ECB, if missing fiscal targets agreed by the Greek State will lead to blocking of external financing and bankruptcy. A mission from the European Commission, IMF and European Central Bank will arrive in Athens on Tuesday to determine how much Greece has deviated from the fiscal targets of the bailout agreement. Continue reading
BUCHAREST | Interim President Antonescu said on Tuesday that the unofficial draft of the European Commission report has “some issues and decisions that exceed not only the CVM attributions, but the ones of the EU Commision aswell”, he expressed his hope that they are not included in the final report. Continue reading
BRUSSELES | Measures taken by the Government in Bucharest on calling a referendum on President Basescu’s dismissal will be the on the European Commission’s attention as to eliminate any suspicions with an objective following of the event, announced the leader of Party of European Socialists (PES), Sergei Stanishev in Brussels, after meeting with Prime Minister Victor Ponta. Continue reading
MADRID | Finance Minister Yuval Steinitz spoke on Sunday about the importance of budgetary discipline. “Should Israel find itself in Spain’s situation, no nation or organization will give it 100 billion euros in aid,” he said prior to the cabinet meeting. The European aid will protect Spain, the fourth largest economy in the Euro zone, if the Greek elections, scheduled for June 17, will cause a new round of turmoil in the financial markets.