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Third Economic Adjustment Programme For Greece
The Third Economic Adjustment Programme for Greece, usually referred to as the third bailout package or the third memorandum, is a memorandum of understanding on financial assistance to the Hellenic Republic in order to cope with the Greek government-debt crisis. It was signed on 12 July 2015 by the Government of Greece, Greek Government under prime minister Alexis Tsipras and it expired on 20 August 2018. History 2012 A ''Financial Times'' editorial on 22 February 2012 argued leaders had "proved themselves unable to settle on a solution that will not need to be revisited yet again", that at best the deal could only hope to remedy one part of the Greek disaster, namely the country's debilitated public finances, though it would not likely even do that. The Eurozone's latest plan did, at least, evince consistency with the currency block's previous behaviour: Federal Ministry of Finance (Germany), German minister of finance Wolfgang Schäuble and Eurogroup president Jean-Claude ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greece Withdrawal From The Eurozone
A Greek withdrawal from the eurozone was a hypothetical scenario, debated mostly in the early to mid 2010s, under which Greece would withdraw from the Eurozone to deal with the Greek government-debt crisis of the time. This conjecture was given the nickname "Grexit", a portmanteau combining the English words 'Greek' and 'exit',Economist Who Coined ‘Grexit’ Now Says Greece Will Stay in Euro By Flavia Krause-Jackson. Bloomberg Business, 28 June 2015 By Ralph Atkins. '' |
Troika (European Union)
The Troika is a term used to refer to the single decision group created by three entities, the European Commission (EC), the European Central Bank (ECB) and the International Monetary Fund (IMF). It was formed due to the European debt crisis as an ''ad hoc'' authority with a mandate to manage the bailouts of Cyprus, Greece, Ireland and Portugal, in the aftermath of their prospective insolvency caused by the 2008 financial crisis. Earlier, "troika" had been used as the designation of a triumvirate that represented the European Union in its foreign relations, in particular concerning its common foreign and security policy (CFSP), until the Treaty of Lisbon was ratified in 2009. Background of the financial crisis bailout troika Role of the Troika The term ''Troika'' has been widely used in Greece, Cyprus (), Ireland, Portugal, and Spain to refer to the consortium of the European Commission, the European Central Bank and the International Monetary Fund that provided a bail ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Handelsblatt
The ''Handelsblatt'' (literally "commerce paper" in English) is a German-language business newspaper published in Düsseldorf by Handelsblatt Media Group, formerly known as Verlagsgruppe Handelsblatt. History and profile ''Handelsblatt'' was established in 1946 by journalist Herbert Gross, but after some months Friedrich Vogel (1902–1976) became publisher. In 1969, Georg von Holtzbrinck became partner of Friedrich Vogel. Since 2021, its editor-in-chief is Sebastian Matthes. Its publisher, Handelsblatt Media Group, also publishes the weekly business magazine ''Wirtschaftswoche'' of which the editor-in-chief is Beat Balzli. ''Handelsblatt'' headquarters are in Düsseldorf. Since September 2005 ''Handelsblatt'' has been offering an online lexicon called ''WirtschaftsWiki'' which features definitions of terms used in economics and politics. The database can be modified by any registered user. In September 2006 ''Handelsblatt'' ranked all economists working in Germany, Austria ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Klaus Regling
Klaus P. Regling (born 3 October 1950) is a German economist and the former Chief Executive Officer of the European Financial Stability Facility (EFSF) and Managing Director of the European Stability Mechanism. Regling was reportedly considered as a possible head of the European Central Bank to succeed Jean Claude Trichet. Early life and education The son of a carpenter who sat in the German Bundestag for the Social Democrats,Zeke Turner (August 21, 2015)Meet Mr. Stability''Politico Europe''. Regling studied economics at the University of Hamburg, and after receiving his bachelor's degree in 1971 went on to the University of Regensburg, where he earned a master's in the subject in 1975. Career In 1975 Regling began work at the International Monetary Fund (IMF) in Washington, D.C. He spent his first two years as part of the IMF's Economist Program, specifically the Research and African Department, and the following three years as an economist in the Research Department. In 1980 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Stability Mechanism
The European Stability Mechanism (ESM) is an intergovernmental organization located in Luxembourg City, which operates under public international law for all eurozone member states having ratified a special ESM intergovernmental treaty. It was established on 27 September 2012 as a permanent firewall for the eurozone, to safeguard and provide instant access to financial assistance programmes for member states of the eurozone in financial difficulty, with a maximum lending capacity of €500 billion. It has replaced two earlier temporary EU funding programmes: the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM). Overview The Treaty Establishing the European Stability Mechanism stipulated that the organization would be established if member states representing 90% of its capital requirements ratified the founding treaty. This threshold was surpassed with Germany's completion of the ratification process on 27 September 2012, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spiegel Online
' () is a German news website. It was established in 1994 as ''Spiegel Online'' as a content mirror of the magazine ''Der Spiegel''. In 1995, the site began producing original stories and it introduced ''Spiegel Online International'' for articles translated into English in 2004. The magazine and website were editorially aligned in 2019 and ''Spiegel Online'' was rebranded ''Der Spiegel'' in January 2020. Company and editorial staff Regular staff includes 150 people in the Hamburg headquarters, complemented by freelancers, and news bureaus both domestic and international. In the German capital, Berlin, 15 correspondents cover the German federal government, political parties, corporations and artists. The Munich and Düsseldorf offices have one correspondent each. There are journalists based in Washington, D.C., New York, London, Moscow, New Delhi and Istanbul. The online news staff also receives support from magazine's network of correspondents in Germany and abroad. Hist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Democratic Left (Greece)
Democratic Left (, , DIMAR) was a social-democratic political party in Greece. Formed as a split from Synaspismós, DIMAR was a minor party supporting the Samaras cabinet from 21 June 2012 to 21 June 2013. After being a member of the Democratic Alignment (DISI) and the Movement for Change (KINAL), it affiliated to Syriza in 2019. The party was dissolved in 2022. History Foundation DIMAR was founded on 27 June 2010 when the Renewal Wing platform of the left-wing party Synaspismós, a component of the Coalition of the Radical Left (Syriza)—among them MPs Fotis Kouvelis, Thanasis Leventis, Nikos Tsoukalis, and Grigoris Psarianos—exited Synaspismós at its 6th congress. They were joined by more than 550 individuals. At a subsequent national conference of the Renewal Wing, 170 members were elected to national policy committee of the new party. The first conference of DIMAR was held on 31 March – 3 April 2011. It elected Fotis Kouvelis as the party's leader with 97.31% ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Panhellenic Socialist Movement
The Panhellenic Socialist Movement (, ), known mostly by its acronym PASOK (; , ), is a social-democratic political party in Greece. Until 2012 it was one of the two major parties in the country, along with New Democracy, its main political rival. After a decade of poor electoral outcomes, PASOK has retained its position as one of the main Greek political parties and is currently the second largest party in the Greek Parliament. Following the collapse of the Greek military dictatorship of 1967–1974, PASOK was founded on 3 September 1974 as a socialist party. Formerly the largest left-of-center party in Greece between 1977 and 2012, PASOK lost much of its popular support as a result of the Greek debt crisis. PASOK was the ruling party when the economic crisis began, and it negotiated the first Greek bailout package with the European troika, which necessitated harsh austerity measures. This caused a significant loss in the party's popularity. It was part of two coalition ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Democracy (Greece)
New Democracy ( , ND/ΝΔ) is a liberal-conservative political party in Greece. In contemporary Greek politics, New Democracy has been the main centre-right to right wing political party and one of the two major parties along with its historic rival, the Panhellenic Socialist Movement (PASOK). New Democracy and PASOK were created in the wake of the toppling of the military junta in 1974, ruling Greece in succession for the next four decades. Following the electoral decline of PASOK, New Democracy remained one of the two major parties in Greece, the other being the Coalition of the Radical Left (SYRIZA). The party was founded in 1974 by Konstantinos Karamanlis and in the same year it formed the first cabinet of the Third Hellenic Republic. New Democracy is a member of the European People's Party, the largest European political party since 1999, the Centrist Democrat International, and the International Democracy Union. The support of New Democracy comes from a wide elect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Unity Government
A national unity government, government of national unity (GNU), or national union government is a broad coalition government consisting of all parties (or all major parties) in the legislature, usually formed during a time of war or other national emergency. A unity government according to the principles of consensus democracy lacks opposition, or opposition parties are too small and negligible. By country Afghanistan Following the disputed 2014 presidential elections, a National Unity Government (NUG) between both run-off candidates was formed with Ashraf Ghani as President of Afghanistan and Abdullah Abdullah in the new office of Chief Executive of Afghanistan. This power-sharing agreement broke apart after the 2019 Afghan presidential election, after which Ghani abolished the office of Chief Executive while Abdullah again refused to recognize Ghani's presidency and demanded the formation of a new government in northern Afghanistan. Both politicians lost power after t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
June 2012 Greek Legislative Election
Parliamentary elections were held in Greece on Sunday, 17 June 2012, to elect all 300 members to the Hellenic Parliament in accordance with the constitution, after all attempts to form a new government failed following the May elections. If all attempts to form a new government fail, the constitution directs the president to dissolve a newly elected parliament, and then to call for new parliamentary elections within 30 days of the dissolution. The president announced at 16 May the date for the new election, and signed the formal decree to dissolve the parliament and call for the election at 19 May. Compared to the previous elections a month earlier, the centre-right New Democracy and left-wing Syriza made significant gains to the detriment of all other parties. ND remained the largest party with 30% of the vote, while Syriza consolidated its gains and took 27%. Centre-left PASOK, which had suffered crushing losses in the previous election in May, failed to make any recovery. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
