09 Apr '11, 2pm

European Commission rules out Greek debt restructuring

European Commission rules out Greek debt restructuring

GODOLLO, Hungary: The European Commission ruled out Saturday any restructuring of Greece's public debt, which has exploded to around 340 billion euros ($485 billion). "Yes, we do exclude restructuring," EU Finance Commissioner Olli Rehn said as the bloc's finance ministers wrapped up two days of talks in a Hungarian castle dominated by a deal to bail out Portugal. "We have a solid plan and we are working on the basis of that plan, and it is based on very careful analysis of debt sustainability." The issue re-emerged after German news weekly Der Spiegel said in a report to appear on Monday that eurozone finance ministers discussed such an option in a telephone conference call on April 2 with Rehn and European Central Bank chief Jean-Claude Trichet. Seated alongside Rehn at a news conference in Godollo, a suburb to the north of Budapest, Trichet underlined: "We have a plan.....

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

Tweets

DTN Singapore: EU tackles Portugal debt bailout...

straitstimes.com 08 Apr '11, 12pm

GODOLLO (Hungary) - EU FINANCE ministers thrashed out on Friday a multi-billion-dollar debt rescue for Portugal, demanding...

Tens of thousands protest against European austerity

Tens of thousands protest against European aust...

channelnewsasia.com 09 Apr '11, 3pm

BUDAPEST: European and local trade unions held a massive demonstration in Budapest Saturday to protest against austerity m...

This sucks!!! =>> House votes to overturn 'net ...

sg.news.yahoo.com 09 Apr '11, 12am

The US House of Representatives voted on Friday to overturn "net neutrality" rules aimed at ensuring an open Internet, set...

#Japan automakers eye rules on parts-buying #NewsQuake

#Japan automakers eye rules on parts-buying #Ne...

straitstimes.com 15 Apr '11, 4am

A worker at Japan's Toyota Motor assembling a car at the company's plant in Miyata City, Fukuoka Prefecture. Major automak...

White House warns of debt 'Armageddon'

channelnewsasia.com 11 Apr '11, 7pm

WASHINGTON: The White House warned Republicans on Monday that failing to raise the $14.29 trillion US debt limit would spa...

Eurozone debt crisis flares up again

channelnewsasia.com 22 Apr '11, 3pm

BRUSSELS: The Eurozone's debt crisis is flaring up again, and more troubles for the Euro lay ahead as a nationalist, EU pa...