European Union

European Union Suspends Sanctions Against 81 Zimbabwe Officials and 8 Companies

March 25, 2013

“However, sanctions will remain in force against 10 people – including Zimbabwe’s President Robert Mugabe – and two firms, EU sources say.”

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Preliminary Draft Bailout Deal Reached Between Cyprus And Its Creditors

March 24, 2013

“The agreement between Cyprus, the International Monetary Fund and the European Commission still needs approval by the 17-nation eurozone’s finance ministers, who were also meeting in the same building in Brussels.”

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Cyprus Engaging in Late-Night Sunday Negotiations to Avert European Central Bank Cut-Off

March 24, 2013

“Negotiations got underway amid a hardening of the stance held by the International Monetary Fund and Germany, who insisted that depositors must take the hit for bailing out the eurozone’s latest crisis economy.”

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Cyprus Unable to Reach Financial Lifeline Agreement With Russia Investors

March 22, 2013

“Talks between Russian officials and the government of Cyprus broke up early Friday, with no agreement on a cash infusion that could have helped the tiny island nation to secure an EU bailout.”

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Cyprus Finance Minister: Bank Tax Back on the Table

March 22, 2013

“Cyprus was just hours away from a deal on Friday to raise billions of euros and unlock a bailout from the European Union that could avert financial meltdown and exit from the euro, its ruling party said.”

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European Central Bank Threatens to Cut-Off Crucial Funding to Banks in Cyprus on Monday

March 21, 2013

“As the European Central Bank threatened to shut off crucial financing for banks in Cyprus without a rapid accord on an international bailout, members of Parliament put off a vote on Thursday on yet another revamped formula. The vote was rescheduled for Friday.”

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Cyprus Government Leaders Under Pressure to Avoid Default on Debt

March 21, 2013

“Cypriot leaders scrambled Thursday to raise $7.5 billion to avoid a debt default for the island nation, but the European Central Bank warned it would cut off emergency funding Monday if the country cannot resolve its financial crisis.”

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European Union Finance Ministers Sticking to Target for Cyprus to Raise 5.8 Billion Euros

March 18, 2013

“Euro-area finance ministers told Cyprus to raise 5.8 billion euros ($7.5 billion) from bank depositors to unlock emergency loans, maintaining the revenue target while suggesting sparing small-scale savers.”

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Greenland Prime Minister Threatens European Union to Block Preliminary Mineral Resources Deal

March 9, 2013

“To the dismay of many European politicians, China has been eyeing investments in the former Cold War ally of the West, which include iron, zinc and rare earth minerals.”

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European Union Partially Lifts Arms Embargo on Syrian Rebels at the Request of Great Britain

February 18, 2013

“Details of what will be allowed in practice must still be determined, but diplomats said governments could offer advice on bolstering security or holding back Assad’s forces, for example.”

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President Obama Calls for Free Trade Agreement With the European Union

February 17, 2013

“Negotiations are not expected to be easy, with entrenched interests, especially in protected sectors of the agriculture industry, fighting to maintain their subsidies and preferences.”

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European Union Leaders Meeting at Brussels Conference Reach Agreement on Broad 7-Year Budget Framework

February 8, 2013

“The officials said around 12 billion euros would be cut from the last budget proposal, made at a summit in November when agreement eluded leaders, bringing the headline ceiling for spending down to 960 billion over the full 2014-2020 plan.”

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European Central Bank President’s Concerns About Currency Push Euro Value Even Lower

February 8, 2013

“Mario Draghi said on Thursday that the exchange rate is important for growth and price stability and that he wants to see “whether the appreciation is sustained and will alter our risk assessment as far as price stability is concerned.”

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Brussels Summit Chair Herman Van Rompuy Urges Compromise on the European Union (EU) Budget

February 8, 2013

“The Brussels summit chair, Herman Van Rompuy, urged them to compromise and keep the EU budget focused on growth, innovation and creating jobs.”

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European Central Bank Helps Put Ireland On Track For European Union and International Monetary Fund Loans

February 7, 2013

“Ireland struck a long-awaited deal on Thursday to ease the burden of debts it took on to rescue its banking system in a way that will cut its budget deficit and borrowing needs and put it on track to end its reliance on EU-IMF loans this year.”

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