Tuesday’s morning update: Europe Day celebrated with economic crisis

News from presseurop.eu

• No way out? | Editorial May 18, 2012
  The term coined earlier this year when Greece was negotiating a write-off of part of its debt to the banks, “Grexit” (a portmanteau of ‘Greek’ and ‘exit’ referring to the possibility that the country will be obliged to leave the Eurozone) continues to hang like a sword of Damocles over the Greek population. Both the markets and Greece’s European partners hav […]
• Germany | Merkel recycles | Cartoon (Süddeutsche Zeitung, Munich) May 18, 2012
  Merkel recycles (Cartoon) […]
• Spain | Budgetary discipline will bear fruit (El Mundo, Madrid) May 18, 2012
  Faced with a further worsening of the financial crisis, Mariano Rajoy's government tries to give pledges to markets while demanding EU support. But when comparing his situation to those of Portugal and Greece, we realize that there is no alternative, says El Mundo. (Article) […]
• Eurozone crisis | Let's be more American! (Hospodářské noviny, Prague) May 18, 2012
  The Greek crisis and the lack of assertive action by European leaders has ended up clouding the greatest challenge to the future of the EU. The USA has the knack of finding effective solutions, and it is time to be inspired by the same spirit, argues a Czech columnist. (Article) […]
• France | Nay-sayers take French diplomacy dossier May 18, 2012
  France’s new ministers for foreign and European affairs,  Laurent Fabius and Bernard Cazeneuve, have a curious fact in common: they both voted […] (News in brief) […]

News from EUobserver.com

• Obama presses EU leaders on growth May 20, 2012
  A weekend summit of G8 leaders stressed the need for the eurozone to focus on keeping Greece inside the euro. But plans are reportedly being drafted to deal with its potential exit.Related StoriesEU takes aim at Israeli settler productsEuro fears rise as Greeks withdraw money from banksEuropean Commission should be EU government, says Germany […]
• [Ticker] Turkey accuses Israel of violating northern Cyprus airspace May 18, 2012
  Turkey Thursday accused Israeli airplanes of violating the airspace of northern Cyprus - recognised only by Turkey. Ankara said the Israeli plan was driven off by Turkish fighter planes. The incident happened on Monday and comes as Turkey and Israel's relations have soured recently. […]
• [Ticker] No fiscal treaty without growth pact, says French finance minister May 18, 2012
  New French finance minister Pierre Moscovici Thursday said that Paris is "firm" on adding growth elements to the fiscal treaty. “What we’ve said is the treaty will not be ratified as it stands,” Moscovici said. He added that the pact must be fleshed out with "an ambitious growth strategy.” […]
• [Ticker] French ministers kick off job with 30% wage cut May 18, 2012
  France's new government started work Thursday with a 30% cut in their ministerial wages. The cut, which also applies to President Francois Hollande, comes as France faces a struggle to bring its budget deficit in line with EU rules. Ministers will earn €9,940 gross a month down from €14,200. […]
• Spain hit by downgrades amid Greek contagion fears May 18, 2012
  Spain's economic woes deepened on Thursday as 16 of its banks and four regions were downgraded by Moody's, while statistics confirmed the country is still in recession, just as fears about a Greek euro-exit are running high.Related StoriesSpanish oil company sues ArgentinaEuro fears rise as Greeks withdraw money from banks […]

News from Bloggingportal.eu