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Portugal ‘risks second bail-out’
The credit ratings agency Moody’s Investors Service has downgraded Portugal’s debt to junk status. The agency said there was a growing risk the country would need a second bail-out before it was ready to borrow money from financial markets again. Portugal, Greece and the Irish Republic were all given bail-out loans to give them time [...]
Germany hears bail-out challenge
The Karlsruhe-based Constitutional Court is the highest court in Germany Related Stories Germany’s Constitutional Court is hearing a challenge to the country’s participation in bail-outs of Greece, the Republic of Ireland and Portugal. A Berlin professor argues that the process violates constitutional provisions and should be blocked. Germany’s finance minister rejected the claim, saying all [...]
Christine Lagarde to start at IMF
Christine Lagarde is the first woman to head the IMF since it was created in 1944 Related Stories Christine Lagarde, France’s former finance minister, takes over as head of the International Monetary Fund later. The first woman to head the IMF, she was picked by its 24-member board. The post became vacant after the [...]
Greece credit rating cut by S&P
There have been violent protests against the austerity measures in Greece Standard & Poor’s has downgraded Greece’s credit rating yet again, partly due to what it sees as the rising risk of the country having to restructure its private sector debts. The rating agency downgraded Greece to CCC from B and said it would consider [...]
Greece arrests Gaza ship captain
The Audacity of Hope was prevented from setting sail from the port of Perama on Friday night The Greek authorities have arrested the captain of a boat that was due to carry activists to the Gaza Strip. John Klusmire, a US citizen, is being held in custody at police headquarters in the port of Piraeus, [...]
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