Topic: Olli Rehn

Greece has only one chance left to avoid another election

Socialist party leader Evangelos Venizelos today became the third politician this week to fail at forming a coalition government. If the president does too, Greece will head back to the polls. 

Biggest debt restructuring in history buys Greece only 'a bit of time'

Private investors agreed to write off 85.8 percent of Greece's private debt, but analysts warn that if Greece doesn't address underlying problems, the deal will not fix things for long.

Greece to investors: take a haircut so we can get our bailout (+video)

For Greece to receive its second international bailout, private lenders need to agree to a substantial debt write-off. The deadline for an agreement is tonight.

For bailout nations, new EU treaty is high price to pay

A new EU fiscal treaty could help keep national governments from overspending. But for EU nations already receiving bailouts, its conditions would be a big blow to their economies and national pride.

Greece secures last-minute bailout deal, but it will hurt

Greece has agreed to implement painful austerity measures – including a 22 percent cut in the minimum wage – in order to receive the money it needs to pay off debt due in March.

Greece, private investors struggle to agree on high-stake debt deal

The Greek government and private investors are locked in negotiations over how much Greek debt private investors will write off. 

Italian PM announces new austerity measures

Italian prime minister Mario Monti will present a new austerity plan to his country's parliament on Monday.

Jobs report eases US market, but EU feeling heat

A better-than-expected US jobs report helped abate selling pressures on Wall Street. But Europe's debt problems are pressuring EU officials to act.

European markets tumble as investors fear Italian default

Investors in Europe have set their sights on Italy, speculating that if a Greek bailout isn't approved and Athens defaults on its government debt, Italy is next.

Why Italy may need a bailout, too

With high debt and falling stocks, Italy appears to be the next European economy on the brink. Investors and European officials are now sounding alarm bells.

What's at stake in Greek confidence vote

If Prime Minister George Papandreou survives tonight's confidence vote, he will push for the austerity measures needed to secure further financial aid from EU and IMF to avoid a default.

Thinking the unthinkable: Let the euro-chips fall

French and German banks hold nearly a trillion euros worth of other European nations' debt: Ireland, Spain, Portugal, Italy, France, Greece. What would happen if they were allowed to collapse?

European debt crisis 101

A look back at the world since the advent of the euro.

Ireland's $90 billion question: Does it need a bailout?

Ireland is set to host EU and IMF officials Thursday in ongoing talks about a bailout for the debt-stricken nation.

Ireland gives thumbs down to EU bailout

EU ministers continue to worry that Ireland's debt crisis will drag down financial markets. Ireland says its debts are covered until mid-2011.

Thought bite: Quote for May 11, 2010

Greek debt crisis begets euro crisis. How much is it fear driven?

The fear of contagion from the debt crisis in Greece may have helped create the reality of it in financial markets.

Concerns grow that Greece debt crisis could overstress European Bank

The Greece debt crisis, which is still subject to German parliamentary approval and may be challenged in court, is putting unsustainable stress on the European Central Bank, some analysts say.

Bulgaria steps up its crackdown on government corruption

Bulgaria's arrest today of an ex-minister accused of bribes, and recent jail sentences of two major figures for fraud and embezzlement, show that the misbehaving state is finally taking the European Union's cues to crack down on government corruption.

Greek debt crisis: High stakes game of financial chicken

The European Union is pushing Greece into deep economic reforms as a way to end the Greek debt crisis and stabilize the weakening euro.

Will Serbia's bid to join the EU help shed its pariah status?

President Boris Tadic launched Serbia's formal bid to join the European Union on Tuesday, saying that the country would overcome 'challenges' in its relationship with the EU, including differing views on the independence of Kosovo.

Will EU lifeline sink Iceland's fishing industry?

The government collapsed this week and banks are on life support. Icelanders are now giving the European Union another look.

Corruption in Bulgaria tests EU expansion

Frustrations mount over Bulgaria – the most violent, corrupt, and poorest of EU members. Aid is being withheld as reform promises are made (and broken). Can it be fixed?

As Tadic seeks coalition, new hope for Serbia

The victory of his pro-EU party Sunday defied the Western view of Serbs as unwilling to let go of historical grievances. Now, a peaceful future seems possible.