Monday, December 08, 2014
Thursday, September 29, 2011
German Chancellor Angela Merkel scored a major political victory on Thursday as the Parliament voted to expand the European Union's bailout fund. While the measure passed, the divisive vote had threatened Merkel's control over her own governing collation. The legislation increases Germany's share of guarantees from €123 billion to €211 billion. Six out of 17 euro zone nations still need to pass the agreement. Analysts are skeptical, saying the fund is too small to help seriously indebted European countries.
Tuesday, September 27, 2011
Greek Prime Minister George Panpandreou is in Germany to meet with Chancellor Angela Merkel to discuss a new strategy to keep his country from defaulting on its debt. Greece needs a further €8 billion to pay its bills. Without it, hundreds of thousands of civil servants will not get paid. Early Tuesday, Greek Finance Minister Evangelos Venizelos said his country will receive bailout funds.