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#GreeceDebtCrisis ' Tsipras letter asking for New 2-Year Bailout Agreement from ESM '

#AceNewsReport – GREECE Update: June.30: The Greek government has asked for a new bailout program from the European Stability Mechanism (ESM), that’ll cover all the country’s financial needs for the next two years, according to the government statement. 364 more words

#AceNewsReport

Euro maze

The mystery that the Euro-zone crisis is, it gets intriguing and deeper with each passing minute. The sovereign debt crisis started showing signs from late 2009. 480 more words

Economy

The Burning Issue: Latvia is the Eighteenth

Latvia has got the go-ahead to adopt the Euro from 2014, signalling to the world that the crisis ridden euro zone is still expanding. Although fewer than 40% Latvians like the idea, their country will become the 18th member of the single currency bloc from the start of next year.Latvian Prime Minister Valdis Dombrovskis maintains that switching to the euro would foster growth, bring increased foreign investment and upgrades of Latvia’s credit ratings.The euro, launched as notes and coins on January 1, 2002, is now used by around 330 million people and has become a major reserve currency.To adopt the euro, Latvia had to meet five entry criteria: low inflation and long-term interest rates, a stable exchange rate and low public debt and deficits. 1,032 more words

Economy

Todays News

US dollar trades higher against the Euro in the wake of Portugal and Ireland having extensions to pay back their loans. “From our perspective, these nations economies are currently under water and they know the next few years does not look bright; therefore, they are expecting they cannot pay back their loans anytime soon”, said ACG, Panama.

ACG

Cyprus banks under scrutiny

Eurozone’s support to Cyprus is not on the agenda of todays’ Eurogroup, the council of the 17 Eurozone ministers of Finance, nor will this issue be discussed in tomorrows’ Ecofin, the council of the 27 EU economic ministers. 569 more words

Economy

Euro Zone Update - The Big Picture

December 1

Weekly Eurozone Watch: November 30, 2012

Posted: 30 Nov 2012 02:30 PM PST

Key Data Points1
German 10-year Bund 5 bps lower;
France 10-year 6 bps tighter to the Bund; 108 more words

Banks