Arab Today, arab today eurozone economy on right road
Last Updated : GMT 07:49:44
Arab Today, arab today
Arab Today, arab today

Eurozone economy \"on right road\"

Arab Today, arab today

Arab Today, arab today Eurozone economy \"on right road\"

London - Kuna

Eurozone leaders have put the continent\'s economy on \"the right road\" with their agreement last night on measures to resolve the crisis in the single currency, Chancellor, Finance secretary, George Osborne said Thursday.Osborne said the eurozone countries had made \"very good progress\" in talks which stretched into the early hours in Brussels, but cautioned that it was now necessary to keep momentum up and deliver precise details on how the three-part agreement will work.However, he insisted that Britain will not contribute money to the European Financial Stability Facility bailout fund or to any IMF package specifically targeted at the eurozone area.Officials in Brussels said an accord had been reached with banks on a 50 percent write-off of Greek debt and they also approved a complex mechanism to boost the eurozone\'s main bailout fund to 1 trillion euro (880 billion pounds).It means that, coupled with an earlier decision to recapitalise vulnerable banks, the summit has delivered on the package it promised.Osborne told the BBC Radio \"I think they have made very good progress on the key issues they need to make progress on.\"I think they got a good agreement last night. Of course, we have now got to get the detail. There is still quite a lot of detail to fill in.\"The crucial thing this morning is to maintain the momentum, to ensure that we don\'t see what happened in July, when they agreed another package but then it took months to put it into practice.\"We have got to maintain the momentum from last night to ensure we turn a good package into something that has actually got all the detail and is going to work in practice.\" Osborne added \"It is going to be a tough road ahead but they are on the right road and it is massively in the British national interest that they sort these problems out, because the instability in the eurozone is having a chilling effect on the British economy.\"- Questions remain over \"whether China is going to be involved, exactly how they are going to operate this new leveraged-up firewall, whether all the private sector are going to be involved in the Greek write-down of debt,\" said the Chancellor.\"These are very important questions, but I don\'t think they should take away from the fact that we are in a much better place this morning than we were yesterday afternoon.The eurozone leaders have grasped the seriousness of the situation.The pressure has paid off in that respect.\"Now we have got to maintain the pressure to put the package into place, fill in the blank spaces that remain and get the eurozone into a much more stable position and then address the longer-term issues of how we make the eurozone work in the long term.\" Osborne said later that the pressure Britain applied had \"paid off\" and the deal last night was \"a much better package than anyone had hoped yesterday afternoon\".\"We have got to maintain the pressure because solving the eurozone crisis would be the biggest single boost the British economy would have this autumn,\" he said.\"I think Britain has had real influence in putting pressure on the eurozone to sort out their problems in being round the table as we sort out key elements of it, like strengthening Europe\'s banks.\"We are clear that solving the eurozone crisis is in Britain\'s national interest as well as being in the interests of the euro and Britain is going to continue to play its role in making sure the deal that is done, last night, is actually put into practice in the coming weeks.\" He added \"I think there now will be a discussion about what Europe looks like in the coming years. It is clear the eurozone need to co-ordinate more closely, that\'s in Britain\'s interests that they do, because when they don\'t our economy suffers.\"But it is an opportunity for Britain to rebalance its relationship with Europe, that\'s in the coalition agreement of this Government, and Conservative members of it are also very clear it is an opportunity to bring back significant powers to Britain from Brussels.\"  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurozone economy on right road Arab Today, arab today eurozone economy on right road

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurozone economy on right road Arab Today, arab today eurozone economy on right road

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday