Tue, Jun 18 2013
Greece's prime minister Lucas Papademos signs a 'fiscal compact' enshrining common debt rules among the 17 members of the euro zone during a European Union leaders summit in Brussels, March 2 2012 .
With Greece planning to pay back the remaining debt it owes to the financial institutions over an extended period, those that bought the Greek bonds will ultimately lose about three-fourths of their investments.
EU Council President Herman Van Rompuy was quoted as saying the treaty will bring 'economic and monetary union' that supports itself.
The fourth quarter of 2011 had signs of a slowdown in manufacturing growth in developing countries, where for the first time after the financial crisis, the growth rate was less than 10 per cent.
Spain has the highest unemployment rate in the EU, Austria the lowest.
Greek unions strongly opposed to the second bailout are calling for new protests on February 22.
The bailout will reduce Greece's government debt from about 160 per cent of the country's GDP to just more than 120 per cent by 2020
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.