European Financial Stability Facility

News

Embattled Greek Prime Minister George A. Papandreou Survives Parliamentary Confidence Vote.

In a good sign for Greece’s continued membership in the eurozone currency bloc, besieged Prime Minister Papandreou has survived a confidence vote in the Greek parliament with promises to form a unity government. To quote: “I have been in contact with the president and I will visit him tomorrow (Saturday) to inform him of my intentions […]

Chinese People Pressure Government to Not Contribute to Eurozone Bailout.

The Chinese people are making it known to their government, online and elsewhere, that the PRC had best help its own people before even considering assistance for Europe. European leaders have asked China to contribute money to the European Financial Stability Facility to increase the fund’s capacity but the PRC has so far given this […]

Greek Referendum Called Off, Military Leaders Dismissed, Government’s Collapse Feared.

Greek Prime Minister George Papandreou has called off plans for a referendum on the proposed bailout package for Greece’s crippling sovereign debt but this has not shored up support for the embattled Socialist Prime Minister as his government is now expected to collapse in a confidence vote this Friday. The opposition New Democracy Party backed the […]

The People’s Republic of China Cannot Bail Out the Eurozone.

Even as French President Nicolas Sarkozy advocated for an expansion of the European Financial Stability Facility to allow for the inclusion of sovereign wealth funds, he was getting the cold shoulder from Beijing which warned it could not play as large a role in the solution of the eurozone crisis like many had hoped. Klaus […]

Could Slovakian Laissez Faire Diehards Hold Back the Expansion of the EFSF (Euro-zone bailout fund)?

Slovakia’s Freedom and Solidarity Party, one party in Slovakia’s four party ruling coalition, has threatened opposition to Slovakian approval of the expansion of the European Financial Stability Facility (EFSF) rooted in a dedicated belief on Freedom and Solidarity’s part in laissez faire capitalism. Arguing that the expansion of the EFSF is the first step on […]

Could Slovakian Laissez Faire Diehards Hold Back the Expansion of the EFSF (Euro-zone bailout fund)?

New IMF chief Christine LaGarde advocates capital injections for European banks.

IMF Chief Christine LaGarde, replacement for Dominique Strauss Kahn (who seemed to be busier chasing tail than focusing on his job), has advocated for a capital injection into European banks and states that ‘decoupling’ EU states from the monetary union is a myth. She has argued for capital injections into European banks, solutions to the […]