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Third Bailout Package (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 in the aftermath of 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 world financial crisis of 2007–2008. 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 The role of the Troika The term ''troika'' has been widely used in Greece, Cyprus ( el, τρόικα), Ireland, Portugal, and Spain to refer to the consortium of the European Commission, the European Central Bank an ... [...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 Düsseldorf ( , , ; often in English sources; Low Franconian and Ripuarian: ''Düsseldörp'' ; archaic nl, Dusseldorp ) is the capital city of North Rhine-Westphalia, the most populous state of Germany. It is the second-largest city in th ... by Handelsblatt Media Group, formerly known as Verlagsgruppe Handelsblatt. History and profile ''Handelsblatt'' was established in 1946 by journalist Herbert Gross (journalist), Herbert Gross, but after some months Friedrich Vogel (journalist), 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. ''Handelsblatts headquarters are in Düsseldorf. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Klaus Regling
Klaus P. Regling (born 3 October 1950 in Lübeck, West Germany) 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 Resea ... [...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
''Der Spiegel (online)'' is a German news website. Before the renaming in January 2020, the website's name was ''Spiegel Online'' (short ''SPON''). It was founded in 1994 as the online offshoot of the German news magazine, ''Der Spiegel'', with a staff of journalists working independently of the magazine. Today, it is the most frequently quoted online media product in Germany. ''Spiegel Online International'', a section featuring articles translated into English, was launched in autumn 2004. In 2019, its editorial office was merged with the one of the printed Spiegel and in 2020, the website was renamed accordingly. Company and editorial staff The news website ''Der Spiegel (online)'' is run by Der Spiegel GmbH & Co. KG (formerly Spiegel Online GmbH & Co. KG), itself a wholly owned subsidiary of Spiegel-Verlag. The editorial offices of the news website and the print magazine ''Der Spiegel'' were separate operations, that had their own offices, authors and content until January ... [...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 (DIMAR) 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% o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Panhellenic Socialist Movement
The Panhellenic Socialist Movement ( el, Πανελλήνιο Σοσιαλιστικό Κίνημα, Panellínio Sosialistikó Kínima, ), 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. Following the collapse of the Greek military dictatorship of 1967–1974, PASOK was founded on 3 September 1974 as a socialist, democratic socialist and left-wing nationalist party. Formerly the largest left-wing party in Greece between 1977 and 2012, PASOK lost much of its popular support as a result of the Greek debt crisis. When the crisis begun, PASOK was the ruling party and negotiated the first Greek bailout package with the European troika which necessitated harsh austerity measures. It caused a significant loss in popularity as a result of the economic crisis, the party was part of two coalition governments from 2011 to 2015, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Democracy (Greece)
New Democracy (ND; el, Νέα Δημοκρατία, Néa Dimokratía, ) is a liberal-conservative political party in Greece. In contemporary Greek politics, New Democracy has been the main centre-right 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, and ruled Greece alternately 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). Having spent four and a half years in opposition to SYRIZA's government, New Democracy regained its majority in the Hellenic Parliament and returned to government under Kyriakos Mitsotakis after the 2019 legislative election. The support of New Democracy comes from a wide electorate base ranging from centrists to conservatives, and nationalists ... [...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 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 the Taliban won the Afghanistan War and recaptured the cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
June 2012 Greek Legislative Election
Legislative 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 fails, 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. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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