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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.
(Google link)

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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