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The Euro Crisis: Big Rescue, Big Doubts
Keywords:
Problems with the July 2011 plan for Greece and other troubled eurozone economies include the lack of funding and powers for the European Financial Stability Facility (EFSF). The contagion effects to Italy and Spain will require larger funding and powers for the EFSF for it to be able to deal with future crises. The bondholder debt haircut for Portuguese and Irish bondholders, and the sense that the crisis in Greece may have to be revisted yet again, are other issues that remain unresolved. Analysts sense that the EU's governance mechanisms are always a step behind in dealing with the repeated crises and EU leaders are doing only enough to get to the next crisis moment.
Greece: EU, ECB, and EFSF negotiations for a selective default in July 2011
04/19/2010
Grouped Articles
Weber Sees Greece Needing More Aid
Wall Street Journal 04/19/2010
Greece Defaults on IMF Loan Despite New Push for Bailout Aid
Wall Street Journal 07/01/2015
Euro Zone Moves Toward Greek Deal
Wall Street Journal 07/21/2011
Europe Must Choose Currency or Financial Union
New York Times 07/21/2011
Greece Gets New Bailout as U.S. Nears Brink
Wall Street Journal 07/22/2011
A Guide to the New Deal in Athens: How a 'Selective Default' Works
Wall Street Journal 07/22/2011
Charles Dallara of the Institute of International Finance's assessment of the Greece and eurozone debt restructuring of July 2011 and the Greece bailout in 2015
06/30/2011
Grouped Articles
Personalities Clashing Over How to Handle New Greek Bailout
New York Times 07/23/2015
Greek Bailout Negotiator Sees Benefits for Banks
New York Times 07/24/2011
Some Bailout Providers May One Day Need Help Too
New York Times 07/24/2011
Plan for Greece Favors Creditors
New York Times 07/25/2011
In Greek Debt Deal, Clear Benefits for the Banks
New York Times 07/25/2011
The Euro Crisis: Big Rescue, Big Doubts
BusinessWeek 07/28/2011
How Greece's and Ireland's debt crisis affects Germany, France, Portugal and Spain.
04/28/2010
German banks have large holdings of Greek bonds, and much larger holdings of bonds from the crisis affected countries of Greece, Portugal, Spain and Ireland.
Grouped Articles
Already Holding Junk, Germany Hesitates
New York Times 04/28/2010
Euro Rises After I.M.F. Increases Aid Pledge to Greece
New York Times 04/29/2010
As Greek Drama Plays Out, Where Is Europe?
New York Times 04/29/2010
Europe Acts Swiftly on Long-Delayed Greek Bailout
New York Times 04/29/2010
The Next Global Problem: Portugal
New York Times 04/30/2010
Portugal to cut wages, raise taxes
Wall Street Journal 05/14/2010
The loan deal Portugal negotiated with the EU and the IMF in May 2011.
09/27/2010
The terms of the loan deal and the problems negotiators faced in coming up with a deal that will give Portugal the breathing space to it needs. The economy is expected to contract 2% in 2011, and 2% in 2012. As a result the defict as a percentage of GDP target of 3% was set for the third year in the three year program, instead of earlier as originally planned. The IMF loan interest rate was set at 3.25% for the first 2 years. Portugal's weakness in competitiveness and in its educational system means Portugal badly needs this breathing space.
Grouped Articles
Portugal's Government Thrust Into Turmoil
Wall Street Journal 07/03/2013
Lisbon Cabinet Shuffle Buoys Junior Coalition Party Leader
Wall Street Journal 07/08/2013
Portugalâs President Calls for Early Elections
New York Times 07/11/2013
Portugal Unveils Toughest Austerity Budget Yet
Wall Street Journal 10/16/2013
Economic Report Supports Socialistsâ Policy in Portugal
New York Times 09/27/2010
Portugal's public finances: The apology of Sócrates
Economist 10/23/2010
The euro-zone, the euro currency and the financial crisis in Ireland, Greece and other countries in 2009-2011
11/17/2010
Grouped Articles
Wall Street Journal 11/17/2010
In Euro Zone, Some See Risk of Currency Breakup
New York Times 11/17/2010
Fresh Loan Woes Buffet Irish Banks
Wall Street Journal 11/18/2010
EU Plan for Ireland Takes Shape
Wall Street Journal 11/18/2010
Ireland Crisis Might Give China Break It Seeks
Unknown 11/19/2010
Irish Grasp at EU, IMF Lifeline
Wall Street Journal 11/17/2010
The European Union agreement for the eurozone debt crisis in Greece and other countries in July 2011
06/30/2011
The first really workable agreement was finally reached in Brussels after a year of sharp differences between the ECB, EU leaders, Greece government and opposition parties, and leaders of France, Germany and other EU countries. Fears of contagion for Italy and Spain and a sense of the dangers to the EU and the Euro currency itself led to the agreement, with the EU governments coming up with the financial support which will be channelled through the European Financial Stability Facility. The debt ceiling crisis in the U.S. may have added to the urgency to reduce nervousness in the markets about a breakdown in EU governance along with that in the U.S.
Grouped Articles
Wall Street Journal 07/13/2011
Europe Must Choose Currency or Financial Union
New York Times 07/21/2011
Greece Gets New Bailout as U.S. Nears Brink
Wall Street Journal 07/22/2011
A Guide to the New Deal in Athens: How a 'Selective Default' Works
Wall Street Journal 07/22/2011
Wall Street Journal 07/22/2011
Euro Zone's Imperfect Path to Union
Wall Street Journal 07/22/2011
Italy- government debt, credit ratings, and borrowing costs 2010-2013
05/14/2010
Italy's borrowing costs went up to 5.7% a week after the July 22, 2011 eurozone debt deal for Greece.
Grouped Articles
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
Italian Vote Turns in Bonds' Favor
Wall Street Journal 04/23/2013
Italy Urged to Resist a Relapse in Spending
Wall Street Journal 05/03/2013
Wall Street Journal 05/14/2010
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
The Key to Italy's Rating Is Kept in Canada
Wall Street Journal 11/02/2013
The debt crisis that Portugal faces, after the crisis in Greece.
04/30/2010
Greece and Portugal are in much riskier shape than Argentina was when it defaulted in 2001, argues Simon Johnson.
Grouped Articles
Portugal Returns to Bond Market
Wall Street Journal 05/08/2013
Idea of Euro Exit Finds Currency in Portugal
Wall Street Journal 05/27/2013
Wall Street Journal 02/11/2014
Greece Defaults on IMF Loan Despite New Push for Bailout Aid
Wall Street Journal 07/01/2015
Greece, Missing I.M.F. Payment, Is Called Effectively in Default
New York Times 06/30/2015
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
EU's bailout of Ireland
11/17/2010
Grouped Articles
In Ireland, Hope of Retroactive Relief
Wall Street Journal 06/29/2012
Greece Gets New Bailout as U.S. Nears Brink
Wall Street Journal 07/22/2011
Ireland's Bailout Balancing Act
Wall Street Journal 11/23/2010
Irish government, seeking bailout, unveils $20 billion in spending cuts, taxes
Washington Post 11/24/2010
BusinessWeek 11/17/2010
EU Outlines Bond Restructuring Plan
Wall Street Journal 11/28/2010
European Union Financial Stability Facility (EFSF)
07/24/2011
Grouped Articles
Wall Street Journal 08/08/2011
Some Bailout Providers May One Day Need Help Too
New York Times 07/24/2011
The Euro Crisis: Big Rescue, Big Doubts
BusinessWeek 07/28/2011
To Reassure Markets, Europe Needs Bigger Bailout Fund, Says Geithner
Wall Street Journal 08/07/2011
Germany Opposes Larger Rescue Fund
Wall Street Journal 08/08/2011
Five Steps to Solving Europeâs Debt Crisis
New York Times 08/21/2011
Problems with the EU July 2011 Plan for Greece and other troubled eurozone countries
07/28/2011
The lack of funding and powers for the European Fiinancial Stability Facility to deal with future crises. EFSF lacks adequate funding and power to buy bonds of troubled eurozone countries including Italy and Spain. Other issues that remain unresolved A sense that the EU leaders are a step behind each developing crisis and have not wrapped their hands around the whole problem.
Linked Articles
Wall Street Journal 08/08/2011
The Euro Crisis: Big Rescue, Big Doubts
BusinessWeek 07/28/2011
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