Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Dutch Dijsselbloem appointed new Eurogroup Chief  Join our daily free Newsletter

MENAFN - ecPulse - 22/01/2013

No. of Ratings : 0
Add to Mixx!


 


The Dutch finance minister, Jeroen Dijsselbloem, was appointed Monday as the new Chairman of the group of euro area finance ministers.

At their first meeting of the year, minister of the Eurogroup elected the 46-year-old Dutchman as head of group the 17 member states of the euro.

Surprisingly, the vote for Mr. Dijsselbloem was not unanimous! Spain would not support the appointment, said Spanish Finance ministers at the meeting.

Still, Luxembourg Prime Minister Jean-Claude Juncker and former Eurogroup Chief can pass the hose to the new firefighter for the euro zones sovereign crisis!

After holdings post for eight years, Juncker stepped down to the newly-installed Dutchman who will now face one of the worlds heaviest debt burdens.

Cypruss bailout bid was debated yesterday, where finance ministers discussed possible financial support for the country, with a decision likely in March.

"...It is clear were quite a distance away from being able to make a decision," German Finance Minister Wolfgang Schaeuble commented on support for Cyprus.

Cyprus is seeking a financial lifeline of about 17 billion euros, almost equivalent to its annual national output, to overhaul its troubled banks and government.

With no decision before the presidential elections, Schaeuble said short-term financing is "secured" and "nobody has to create uncertainty" about it.

EU-17 Finance Ministers agree EUR9.2 bln in next Greek bailout

On Greece, Schaeuble said the country has sustained tax reforms since ministers last met, so they "can agree the payment of the next tranche" after this progress.

The finance ministers pushed out a payment of 9.2 billion euros to Greece this month, 7.2 billion of which in bond for bank capitalization and 2 billion euros in cash.

Ministers decision to award Greece the next tranche of bailout followed the countrys announcement that there would be another tax reform in May.

Schaeuble reiterated that "not every bank can have access" to the areas rescue fund under the treaty of the so-called European Stability Mechanism, or ESM.

Ministers are still seeking an accord in the first half of this year on how and when the 500-billion euro ESM can skip governments and provide direct aid to banks.

Irish and French Finance ministers led bids to go forward quickly with banking union so the ESM can be utilized as quickly as possible to shield the financial system.

On bank recapitalization of Spain, the Spanish finance minister said that progress has been made with the banking union and Spanish bank overhaul since December.

"We had the important agreement on the single banking regulator at the end of last year, and this year we must press ahead with the other pillars of banking union."


 






  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Dubai SME ties up with Taylor Wessing to raise awareness on Intellectual Property and fund-raising among SME100 firms ,MENAFN Press
(MENAFN Press) Dubai SME, the agency of the Department for Economic Development in Dubai mandated to develop the SME sector, have signed a memorandum of understanding (MoU) with the international law ...

Apr 24 2014Mannai Corporation net profit soars 73 percent in Q1 ,MENAFN
(MENAFN) Qatar's Mannai Corporation said that its net profit in the first quarter of this year increased significantly, the Peninsula Qatar reported. The group said that net profit in the period ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Redefining large AOC launches 28€³ MVA monitors ,MENAFN Press
(MENAFN Press) Display specialist AOC launches its first two 28" (71.1 cm) monitors. The m2870Vhe and m2870Vq feature extra-large 16:9 MVA panels with Full HD resolution, wide viewing angles and high ...

Apr 24 2014Finance House Q1 Net Soars 38% to AED 35.51 Million ,MENAFN Press
(MENAFN Press) Finance House PJSC (FH), has kicked-off 2014 on an upbeat note by registering a consolidated net profit of AED 35.51 million for the first quarter of 2014, which is nearly 38% higher ...

Apr 24 2014Mazola launches Sunflower Oil in new 1.8 litre label and packaging ,MENAFN Press
(MENAFN Press) Mazola, one of the leading names in the regional food industry, today announced the launch of its 1.8 litre Sunflower Oil in a brand new pack and label design. The new look perfectly ...

Apr 24 2014Estidama Villa Experience Centre Highlights Benefits of Resource-Efficient Living at Cityscape ,MENAFN Press
(MENAFN Press) The Abu Dhabi Urban Planning Council (UPC) today opened its Estidama villa experience to Cityscape visitors, giving them the chance to explore some of the innovative features designed ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Dusit International reasserts its position as one of Asias leading hospitality groups ,MENAFN Press
(MENAFN Press) Dusit International will reassert its position as one of Asia's leading hospitality groups during the upcoming Arabian Travel Market (ATM), with the attendance of COO David Shackleton ...

Apr 24 2014Software AG Apamas contribution to financial market stability recognized ,MENAFN Press
(MENAFN Press) Dubai, UAE, April 24, 2014 – Software AG (Frankfurt TecDAX: SOW) today announced that its Apama software has been recognized as the industry leading ultra-high performance complex ...

Apr 24 2014Dubai Investments raises foreign ownership cap to 35% ,Khaleej Times
(MENAFN - Khaleej Times) Dubai investments (di) the largest investment company listed on the dubai financial market (dfm) has raised the foreign ownership limit in the company from the existing 20 ...

Apr 24 2014UAE- UPC issues guidelines on underground utilities installations ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi has come up with new guidelines for the installation of underground utilities which will also help in cutting costs. the new guidelines would benefit ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014Uruguay Public Health Minister Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Montevideo April 24 -Minister of Public Health in Uruguay Maria Susana Mu?iz met here on Thursday with HE qatari ambassador to the republic of Uruguay mohamed hassan ...

more...


 
Live Currency Rates






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help