The EU and Egypt established diplomatic relations in 1966 and are bound by the Association Agreement that came into force in 2004. The EU seeks to develop a close relationship with Egypt, its neighbour and a major partner in a strategic region. The agenda of EU-Egypt relations is set out in the EU-Egypt Action Plan…
In an interview with FAZ on Saturday, German Chancellor Angela Merkel said, “I don’t see [another] debt haircut for Greece…and it always astounds me how carelessly this topic is discussed. Such a step could unleash uncertainty in other parts of Europe.” German Finance Minister Wolfgang Schäuble backed her position, insisting another debt write down “won’t…
Frequently Asked Questions and Answers 1. Can tourists make payments with credit cards and EC cards problem-free? YES 2. Can tourists withdraw money from cash dispensers with their credit cards and EC cards? YES 3. Have you noticed bottlenecks in terms of foodstuffs, medications or gas? NO 4. Will strikes of the public enterprises, e.g.…
Fitch upgraded yesterday Greece’s Long-term foreign and local currency IDRs to ‘B-‘ from ‘CCC’. The Short-term foreign currency IDR has also been upgraded to ‘B’ from ‘C’ and the Country Ceiling upgraded to ‘B’ from ‘B-‘. The Outlook on the Long-term IDRs is Stable. The upgrade of Greece’s sovereign ratings by one notch to ‘B-‘…
The Eurogroup concluded yesterday that the necessary elements are in place for the approval of the next EFSF installment, which amounts to €7.5bn. The disbursement will take place in two sub-tranches: A first sub-tranche of €4.2bn will be approved by the EWG and the EFSF BoD in the following days, following the completion of the…
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