Eurozone Timeline: What’s Going to Be Ruining Your October?
Key euro-zone events on the horizon include Greek debt talks and parliamentary votes across the euro zone to ratify a July 21 agreement to beef up the 17-member currency bloc’s rescue fund, the European Financial Stability Facility. So far, Belgium, France, Greece, Ireland, Italy, Luxembourg, Portugal and Spain have ratified the EFSF’s expansion and new powers, including the right to purchase bonds in the secondary market and provide funds to recapitalize banks. Financial markets will have to sweat through another meeting of European financial ministers and some key bond auctions. Several countries are voting this week while Cyprus, Malta, Slovakia, and the Netherlands are expected to vote in October.Recently:
–Wednesday, Sept. 28: The troika return to Athens to continue assessing Greece’s progress in cutting its budget deficit. The talks are crucial, because without the 8-billion-euro bailout payment the country runs a high risk of going bust. Finland is due to vote on changes to the EFSF.
–Thursday, Sept. 29: Germany’s and Estonia’s parliaments are due to vote on EFSF changes. Spanish banks face a deadline to meet new capitalization requirements.
–Friday, Sept. 30: Austria votes on increasing the country’s share of contribution to the EFSF....MORE
Watch the Sept. 29 German Vote on the EFSF
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