Europe's Economic Crisis Timeline

Jul 23 2015

Portugal: President Calls For General Election

Portugal’s next general election will be held Oct. 4, Portuguese President Anibal Cavaco Silva said in a televised address July 22, Euractiv and Portugal News reported.
Jul 23 2015

Greece: New Bridge Loan Possible As Parliament Passes More Reforms

EU officials are considering the possibility that Greece will need a second bridge loan if its negotiations with its creditors do not finish by Aug. 20, when Athens is due to repay 3.5 billion euros (around $3.8 billion) to the European Central Bank, unnamed European officials said July 23, Kathimerini reported.
Jul 21 2015

France Looks to Fix the Eurozone

France and Germany see a "lack of Europe" as the cause of EU crises, but many voters — and some governments — disagree.
Jul 20 2015

Greece: IMF Confirms Receiving Payment

The International Monetary Fund confirmed that Greece paid the remaining $2.2 billion it owed the international body, CNBC reported July 20.
Jul 20 2015

Greece: Debt Relief Possible, Merkel Says

Greece could receive some debt relief in the coming months as soon as creditors can confirm that the country is making good on its promised economic reforms, German Chancellor Angela Merkel said in an interview July 19 with ARD TV, EU Observer reported July 20.
Jul 20 2015

Greece: Banks Reopen, But Controls Remain

Greek banks reopened July 20 for the first time since closing three weeks ago in an attempt to prevent a bank run, Kathimerini and Reuters reported.
Jul 17 2015

Greece: No IMF Role In Bailout Without Debt Relief, Lagarde Says

The International Monetary Fund will not take part in a third Greek bailout unless there is a complete program restructuring Greece’s debt, IMF chief Christine Lagarde said July 17, EU Observer reported, citing France’s Europe 1 radio.
Jul 16 2015

Greece: Finnish Parliament Approves New Bailout Talks

Finland’s parliament on July 16 approved new talks over a Greek bailout, Finnish Finance Minister Alexander Stubb said, Kathimerini reported.
Jul 15 2015

History Repeats in the Greek Crisis

Greece's misfortunes are part of a single great wave of disruption that ties together the whole of Europe's periphery.
Jul 14 2015

Greece: U.K., Poland Opposing Funding Measure

British Chancellor of the Exchequer George Osborne is opposing any short-term funding measures for Greece that includes British taxpayers’ money, thus ruling out the revival of the European Financial Stabilization Mechanism for use in providing bridge financing to Greece, the EU Observer reported July 14.
Jul 14 2015

Greece: Athens Repays Private Bonds

The Greek government repaid Samurai notes that were maturing July 14, in an early sign that Athens is honoring its obligations after reaching a deal July 13 with its creditors, a spokeswoman for bond agent Mizuho Bank Ltd. said, Bloomberg and Kathimerini reported.

The European economic crisis goes well beyond finance. It affects the economy, politics and social conditions in European countries and challenges the foundations of the European Union. The future of the bloc and the stability of the euro are in jeopardy.

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