Quantcast
Home » Topics » European Central Bank

IMF admits to under-estimating damage austerity would do to Greece

The International Monetary Fund admitted it had failed to realise the damage austerity would do to Greece as the Washington-based organisation catalogued mistakes made during the bailout of the stricken eurozone country. In an assessment of the rescue conducted jointly with the European Central Bank (ECB) and the European commission,…

Eurozone crisis ‘drying up credit to households’

Bank lending to private households in the euro area contracted again in December as the region’s crippling debt crisis continues to put a freeze on demand for credit, data showed on Monday. Eurozone bank loans to the private sector declined by 0.7 percent in December compared with the same month…

Sarkozy, Merkel to thrash out euro crisis plan

French President Nicolas Sarkozy hosts German Chancellor Angela Merkel on Monday to thrash out details of a plan to save the euro at the start of a pivotal week for the single currency. The meeting comes as Italy kicked off the crucial week with a draconian austerity package of cuts, taxes and pension reforms to…

Google+