Posts Tagged ‘EU’
EU dismisses reports of Portugal seeking bailout
Speculation has been mounting that Portugal is under pressure to seek a bailout from the EU rescue fund – however, the country continues to strongly deny the claims. European Commission President, Jose Manuel Barroso, has today also denied reports that the country is looking for a financial rescue package. Mr Barroso said the reports were [...]
Greece will receive second instalment of rescue loan
The European Union has today announced that Greece has met the conditions of its loan and will therefore receive the second instalment of its bailout loan on 13 September. In May, the EU and the IMF agreed to loan €110 billion. The three-year rescue deal comprises €80 billion from the EU, with the rest coming [...]
Greece makes ‘considerable progress’
International Monetary Fund (IMF) and European Union (EU) auditors have today said Greece has made “considerable progress” in dealing with its public deficit. For many months now, Greece has been making big cuts to public spending. However, this has met with strong opposition from unions. Greece’s two main unions have launched several strikes this year [...]
Irish banks pass stress test
Two of Ireland’s most important financial institutions demonstrated their resilience this week by passing a European stress test.
The Bank of Ireland and AIB passed the test conducted by the Committee of European Banking Supervisors in partnership with the European Central Bank.
The test measured the banks’ potential to survive intact through difficult economic circumstances.
Irish finance minister [...]
European Parliament approves cap on bankers’ bonuses
From January next year, restrictions on bankers’ bonuses will take effect, the European Parliament has announced today.
Under the deal agreed by the EU members last month, cash bonuses will be capped at 30% of the total bonus.
60% of bonuses should be variable and for future payment only, with at least 40% having to be [...]