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Statement by the European Commission, ECB and IMF
on the review mission to Greece
Staff teams of the Commission, the ECB and the IMF have concluded their visit to Greece, following productive discussions with the authorities on the set of policies that could serve as a basis for the completion of the ongoing review of the country's economic programme.
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Eurogroup statement on Ireland: Programme exit without financial assistance fully supported
The Eurogroup examined the 12th and final review of the Irish adjustment programme. It concurred with the Commission, the ECB and the IMF that the programme remains on track and that sovereign yields have now normalised. (Includes Rehn/Dijsselbloem statements.)
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Irish Minister for Finance: Statement on the Government's decision to exit the EU-IMF programme without a precautionary credit line
"The decision that the Government took is the right decision at the right time for Ireland. As a result of the commitment and determination of the Irish people to get the job done, we will be exiting the bailout in a strong position."
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EFSF Board of Directors approves €3.7 billion disbursement to Portugal
The EFSF's Board of Directors has approved the disbursement of €3.7 billion to Portugal. This follows the positive assessment of the combined eighth and ninth quarterly reviews of Portugal's economic adjustment programme.
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Fitch: Portugal credit line more likely as debt stabilises
Portugal may be able to obtain a new credit line from official creditors when its current IMF-EU programme ends in June 2014 as the country's public debt dynamics are weak but close to stabilisation, Fitch Ratings says.
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Eurogroup supports Spain's decision not to request any successor ESM financial assistance following programme exit in January 2014
This is based on the fact that the ESM financial assistance and reform programme has proven to be successful in addressing financial sector vulnerabilities. (Includes Rehn/Dijsselbloem/German government statements.)
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CNBC: Spain's bailout exit is not premature - ESM's Klaus Regling
In an interview with CNBC, Regling said that Spain's banks were now "well-restructured".
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ECFIN: Financial Assistance Programme for the Recapitalisation of Financial Institutions in Spain. Fourth Review – Autumn 2013
The report is based on the findings of a joint European Commission/ECB mission to Madrid during 16–27 September 2013.
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Reuters: Relief for Italy's Letta as minister survives no-confidence vote
Italy's justice minister survived a no-confidence vote in the lower house of parliament, shoring up the fragile coalition government ahead of votes coming up on next year's budget and whether Silvio Berlusconi should be expelled from parliament.
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German coalition negotiations - progress made but financing still up in the air
CDU/CSU and SPD have agreed on a European policy which excludes future pooling of sovereign debt or a transfer union in the eurozone. Negotiations inch towards agreements on domestic issues, however the question of financing remains uncertain.
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Atlantic Community/Guérot: The big illusion? Germany, the coalition talks and the hope for more Europe
Guérot argues that the level of disconnect between Germany and the rest of Europe is starting to take on dangerous dimensions. European solidarity doesn't sell well in blue-collar Germany, which is suffering heavily from real income losses.
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CEPS/Gros & Busse: The Macro-economic Imbalance Procedure and Germany - When is a current account surplus an 'imbalance'?
Gros argues that the Commission's announcement that Germany is running an excessive current account surplus appears to be much ado about nothing. All the Commission can, and will, do is to start an 'in-depth analysis'.
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France reveals €5.5 billion shortfall in tax receipts; PM Ayrault pledges to transform tax system
"According to our calculations there is a €1 billion shortfall on value-added taxes and a €4 billion shortfall on corporate taxes, which are particularly sensitive to the economic cycle", French budget minister Bernard Cazeneuve said on BFM Television.
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Presseurop: 'Tusk's new pro-European government'
Amid corruption scandals and faltering public support, Polish PM Donald Tusk has made "far-reaching" changes to his cabinet, including the appointment of former ING Bank chief economist Mateusz Szczurek as finance minister.
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Austrian Parliament: Fekter dismisses talk of budgetary crisis
"There is no sign of a budget hole", said Finance Minister Maria Fekter in her statement on the government's budget, adding that in her opinion the recent representation of the budgetary situation had been "misleading".
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FT: Slovenia struggles to avoid EU bailout
Over the coming months, Slovenia will become the laboratory for the latest eurozone experiment in debt restructuring – one that will be heavily influenced by Germany's deep political resistance to underwriting another rescue.
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