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Eurointelligence Daily Briefing: Finland may block Portugal aid
Opposition is growing in Finland to Portugal's EFSF package, as Social Democrats urge debt restructuring; Bundestag's opposition to ESM co-decision rules widened yesterday; Portugal's opposition leader strikes conciliatory tone on forthcoming EFSF negotiations;Portugal's finance minister says money will run out end-May; Barroso says no to interim finance for Portugal, insists on a full package; EU officials say Greek haircut to be in the range of 40-50%; S&P puts the number at 50-70%;Schäuble says no involuntary haircuts until 2013; a PwC study shows a strong rise in non-performing loans to €688bn in Germany, Italy, UK, Spain and Ireland; IMF's global financial stability report says European banks need to refinance €3200bn in next two years; Joseph Pröll quits as Austria's finance minister for health reasons; Largarde revises growth forecast down to 2.25% on the grounds of weaker foreign demand; ECB officials are stepping up their rhetoric for the next rate hike; John Bruton, meanwhile, hits back at Lorenzo Bini-Smaghi, pointing towards the ECB's own role in the crisis.
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Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Thu Apr 14th, 2011 at 03:54:18 AM EST

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