Tue, May 21 2013
European Commission President Jose Manuel Barroso.
Heads of state and government of the euro zone will meet in May to conclude the deal and to ‘draw the first conclusions of this crisis for the governance of the euro area,’ European Council President Herman van Rompuy says.
Speaking at a televised cabinet meeting on May 2 2010, a day after protests in Greek cities against a deal with the IMF and the EU, prime minister George Papandreou says that the country must be prepared to make sacrifices.
Greek PM Papandreou braces country for bailout deal
A new Eurostat poll shows upswings in economic and business sentiment indicators in the EU – with Italy and Spain among the countries where sentiment was more confident in April 2010.
The Cabinet will decide on May 5 2010 whether and how much to increase value-added tax, while Prime Minister Boiko Borissov says that the revenue shortfall could have to made up by increasing VAT so that Bulgaria does not ‘end up like Greece or similar European countries’.
Debt crisis spreads beyond Greece, as Spain becomes the third euro zone country to have its credit rating cut this week, while an analyst says that Bulgaria, Romania and Hungary are the eastern European nations whose financial markets are most exposed to contagion from the Greek crisis.
Urgency about bailout deal to avert domino effect, reports say, while finance ministry in Athens says that Greece’s banking system is stable and has sufficient liquidity; markets tumble after Standard and Poor’s ratings downgrade.
IMF reportedly considering additional aid, EU insists Greek debt will not be restructured, while prime minister George Papandreou says that it is ‘now or never’ for the rebirth of Greece.
Governments in Prague and Bucharest could soon join Sofia in instituting temporary moratoriums on shale gas exploration.
Coalition around ruling Democratic Party has largest share of vote in Serbia's parliamentary election, according to exit polls.
Centre-right New Democracy is said by exit polls to have largest share of votes, but diminished even from its 2009 defeat, while socialists Pasok – the 2009 victors – gets somewhere around 14 to 17 per cent.
An agreement reached with the Organisation for Security and Cooperation in Europe (OSCE) will allow voters with dual citizenship in Kosovo to vote in the upcoming parliamentary and presidential elections in Serbia.
Twenty radical Muslims suspected of being members of a terrorist group that has been linked to the murder of five fishermen in early April.