Wed, Jun 19 2013
People queue to enter a government-run employment office in Madrid
The option to postpone the due date was contingent on securing 55 million euro for immediate repayment of the amounts loaned by Belgium's Dexia and Japanese bank Mizuho.
Citing three separate sources familiar with the deal, Capital Daily reports that the creditors found offers submitted by three bidders unsatisfactory.
Eurobank EFG is left with a 30 per cent stake in the merged entity but has said it will exercise its put option on the remaining holding.
The narrow focus of many euro zone countries on fiscal austerity is deepening the jobs crisis and could even lead to another recession in Europe, said the Director of the ILO Institute for International Labour Studies and lead author of the report, Raymond Torres.
It will take time for societal views to evolve in Central Europe; I believe they are evolving, but faster would be better.