Italy's populists, rightwingers want Italexit and ECB to cancel billions in debt: report

The populist Five Star Movement and the rightwing League party are working on a joint government program that includes a possible exit from the eurozone and asking the European Central Bank (ECB) to cancel billions in Italian public debt, the Huffington Post reported Tuesday evening, posting the 39-page draft document on its website.

Greek banks must find up to 14.4 bn euros after ECB stress test

Four major Greek banks must find up to 14.4 billion euros ($15.8 billion) to survive potential economic shocks, the European Central Bank said on Oct. 31, releasing the results of an in-depth financial health check.

Greece will repay ECB, IMF loans. - ELA to Greek banks was being raised by €900m (Draghi)

European Central Bank chief Mario Draghi has said he has no doubt that Greece would repay its loans from the ECB and the International Monetary Fund.

Greece faces ECB deadline as EU engineers bridge fund

European finance ministers encountered a range of hurdles to financing Greece through the next few weeks during negotiations over another full-scale bailout.

Greece told door for debt negotiations remains "open"

Leaders of France and Germany told Greece's government today the door for negotiations with creditors remained open but urged it to make quick proposals to reach a cash-for-reform deal.

Europe's leaders ponder next move for Greece

 The German government has voiced its skepticism over fresh bailout negotiations following Greece’s rejection of its creditors’ economic reform proposals.

Greece to shut banks and stock exchange on Monday. ELA to Greek banks maintained at its current level.

Greek banks and the stock exchange will be shut tomorrow after creditors refused to extend the country's bailout and savers queued to withdraw cash, taking Athens' standoff with the European Union and the International Monetary Fund to a dangerous new level.

Greek PM calls referendum on debt deal for July 5. -- (European leaders had been informed on the referendum plan before the address)

Greece will hold a referendum on July 5 on the latest debt deal proposed by international lenders, Greek Prime Minister Alexis Tsipras said in a televised address to the nation in the early hours of Saturday.

Greece debt deal still possible, says Angela Merkel

German Chancellor Angela Merkel says she is "still convinced" that a Greek debt deal is possible.

She said she thought Greece could reach an agreement with its creditors - the EU, the International Monetary Fund and the European Central Bank.

Greece: Run on banks as pressure builds for bailout

 Greek consumers are pulling their money out of their banks in fear that a solution won't be found for a much-needed bailout by the Eurogroup.

Greece should resume policy dialogue and agree on reforms, Draghi tells MEPs

The European Central Bank’s expanded asset purchase programme, better known as “quantitative easing” (QE), is starting to make headway across the EU, ECB President Mario Draghi told Economic and Monetary Committee MEPs on Monday.

ECB prepares for Greece’s exit from euro (Der Spiegel)

The European Central Bank is preparing a contingency plan for Greece leaving the single currency zone. According to Germany’s Spiegel magazine it looks at ways to keep the rest of the eurozone untouched.

No enough progress made in talks on Greece debt crisis

Eurogroup head Jeroen Dijsselbloem said on Wednesday they didn't make enough progress in talks with Greek finance minister on the Greek debt crisis during the eurogroup meeting and talks will be continued next Monday...

Greek PM says troika bailout failed, will not ask for extension

Greece's leftist PM, Alexis Tsipras, has announced that the EU and IMF bailout of the country’s debt has failed, and that Athens doesn’t plan to ask for an extension.
“The bailout failed,” Tsipras said in his first major speech to the Greek parliament as the country’s new prime minister on Sunday. “The new government is not justified in asking for an extension...because it cannot ask for an extension of mistakes.”...

Varoufakis encouraged by ‘fruitful’ talks with ECB

Greek Finance Minister Yanis Varoufakis said Wednesday that his meeting with European Central Bank (ECB) chief Mario Draghi had been "fruitful" and gave him "a great deal of encouragement."...

Creditors says to put on ice economic review report on Cyprus

International lenders have notified Cyprus that they will put on ice a report on their latest review of its progress in implementing an economic adjustment program, following a further suspension of foreclosures legislation by parliament, Finance Minister Haris Georgiades said on Friday.

Greece to Suggest New Deal to European Creditors

Greek Finance Minister and member of the Syriza party, Yanis Varoufakis, has plans for a new deal with Greece’s European creditors, he said at a ceremony to handover responsibilities at the Finance Ministry Wednesday...

Isoplast and Polyphon Global news in brief (January 2015 - B)

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Europe faces a “very serious” problem if Greece votes in a far-left party intent on ending austerity measures in an upcoming election, the former head of the European Central Bank (ECB) Jean-Claude Trichet warned Tuesday.

"We have again a Greek problem, which is serious, which is very serious, but it is not totally dramatic," Trichet, a French civil servant who headed the ECB from 2003 to 2011, told France’s Europe 1 radio station.........................Greek problem ‘very serious’ for Europe, says former ECB chief

Statement by the European Commission, ECB and IMF on the Fourth Review Mission to Cyprus

European Commission, Statement, Brussels, 17 May 2014:

Staff teams from the European Commission (EC), European Central Bank (ECB), and the International Monetary Fund (IMF) visited Nicosia 6-17 May 2014 for the fourth review of Cyprus's economic programme, which is supported by financial assistance from the European Stability Mechanism (ESM) and the IMF. Cyprus’s programme seeks to ensure the recovery of economic activity to preserve the welfare of the population by restoring financial sector stability, strengthening public finance sustainability, and adopting structural reforms to support long-run growth. 

EU FMs offer assurances on bank rescues...

European Union finance ministers have offered assurances for bank rescues, after difficult talks in Brussels on how to shore up the banking system. The European Central Bank is leading a year-long review of the EU’s largest banks to find and then fix or weed out weak banks.

The ministers have said that they would make sure the banks have restructuring plans ready in case they failed. They also agree any restructuring would favor using private money first - from investors or shareholders - rather than taxpayer funds.