Showing posts with label euro-zone debt crisis. Show all posts
Showing posts with label euro-zone debt crisis. Show all posts
Wednesday, June 1, 2011
Saturday, November 27, 2010
Spain's leader vows deficit reduction amid crisis
Associated Press
MADRID — Spain's prime minister mounted a vigorous defense Saturday of his nation's economy and finances, insisting his administration will forge ahead with austerity measures and force troubled banks and regional governments to reveal information about savings and restructuring efforts.
Jose Luis Rodriguez Zapatero was responding to heavy market pressure that has put Spain in the spotlight as the country that could plunge the 16-nation euro zone into meltdown if it were to end up needing a bailout like those provided to Ireland and Greece.
Many investors believe Portugal could be next in line to need a bailout, and they fear Spain could then follow.
Zapatero spoke after meeting with the heads of 37 of the country's largest corporations, and he said Spain's plans for deficit reduction and increased competitiveness will restore the international confidence that has crumbled throughout the week.
Among those present were Emilio Botin, chief executive of Banco Santander S.A., the country's largest bank, Cesar Alierta of telecommunications giant Telefonica S.A. and Antonio Brufau of energy company Repsol YPF.
The meeting happened a day after Zapatero ruled out any possibility that Spain would require a bailout.
"The government is committed to austerity, to reducing the deficit," Zapatero said Saturday, seeking to reassure investors that his government is taking the threat to its economy seriously.
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Thursday, November 11, 2010
Nation states are dead: EU chief says the belief that countries can stand alone is a 'lie and an illusion'
Daily Mail
The age of the nation state is over and the idea that countries can stand alone is an ‘illusion’ and a ‘lie’, the EU president believes.
In one of the most open proclamations of the goal of a European superstate since the heyday of Jacques Delors, Herman Van Rompuy went on to denounce Eurosceptism as the greatest threat to peace.
Tory backbenchers condemned the inflammatory comments in the speech made by Mr Van Rompuy to mark the 21st anniversary of the fall of the Berlin Wall.
They said it proved that David Cameron would have a battle on his hands if he is to prevent extra powers being handed to Brussels.
Last night 23 Conservative MPs, including former leadership contender David Davis, rebelled in the Commons by demanding a referendum if the Lisbon Treaty is amended – even if ministers argue the changes do not affect the UK. Their call was defeated.
Mr Van Rompuy’s speech in the German capital told his audience that ‘the time of the homogenous nation state is over’.
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