Tagged: banking crisis

Slovenia staves off a bailout

Moody’s Investors Service, the credit rating agency, has downgraded Slovenia’s sovereign rating from Baa2 to Ba1. Moody’s keeps Slovenia on a negative outlook, which means that a further downgrade is possible in the near...

Slovenia is facing a severe banking crisis

After Greece, Ireland, Portugal and Cyprus, Slovenia, the first post-communist country that joined the eurozone, could be next in line to receive a bailout from the European Union and the International Monetary Fund. Slovenia’s...

Cyprus imposes capital controls

Cyprus has become the first eurozone country in its history to impose capital controls. Capital controls – with limits on credit card transactions, cashing the cheques, sending money abroad and daily withdrawals – were...

Spain goes deeper into recession and high unemployment

The Bank of Spain’s latest annual forecast shows that Spain will sink deeper into recession in 2013. The Spanish economy is expected to contract 1.5 per cent this year, following a 1.4 per cent...

Cyprus agrees on a new bailout deal

Capital controls are expected to be in place on Tuesday, March 26th, to prevent a run on Cyprus’s banks, when they reopen after 10 days of closure. Details of capital controls have not yet...