Tag Archive for Telegraph

Debt crisis: Bailed-out Spain pleads for aid from European Central Bank – Telegraph

By Emma Rowley Spain’s prime minister said he is “battling” to get the eurozone’s central bankers to bring down the country’s record borrowing costs, amid predictions the state will need a second bail-out to save itself. Mariano Rajoy urged the European Central Bank (ECB) to resume its massive purchases of struggling euro nations’ debt in…

Debt crisis: Europe’s democracies must not subcontract their destiny to the Bundebank -Evans-Pritchard, Telegraph

By Ambrose Evans-Pritchard Europe has lit the fuse on an economic and financial bomb. The rescue package for Spain cannot plausibly be contained to €100bn once it begins, given the subordination of private creditors and collapse of global confidence in the governing structure of monetary union. Italy must guarantee 22pc of the bail-out funds, even though it…

Greek unemployment hits record while French jobless rate reaches 10pc – Telegraph

By Louisa Peacock Eurozone unemployment marched higher on Thursday as Greek joblessness reached a new record and France’s jobless rate hit the psychologically damaging 10pc mark. Greece has been struggling through a financial crisis for the past two years, and has been relying on billions of euros in international rescue loans from other eurozone countries…

French president Francois Hollande CUTS! retirement age – Telegraph

By Emma Rowley4:46PM BST 06 Jun 2012 France’s new socialist government cut the country’s retirement age in the face of the eurozone’s deepening crisis, citing “social justice” to explain a move that goes against austerity efforts across the region. Workers who entered employment aged 18 will be able to retire at 60 rather than 62,…

The week that Europe stopped pretending – Ambrose Evans-Pritchard

On a single day, the European Commission said monetary union was in danger of “disintegration” and the European Central Bank said it was “unsustainable” as constructed… Joschka Fischer, Germany’s former vice-Chancellor, said EU leaders have two weeks left to save the project. “Europe continues to try to quench the fire with gasoline – German-enforced austerity.…