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Europe’s debt crisis could last two years

Paris – The German Minister of Finance estimated yesterday that the debt crisis could still take up to two years in Europe. “I think within 12 to 24 months, we will experience a calming of financial markets,” said Wolfgang Schäuble on Europe-1, according to simultaneous translation performed by the radio. Asked on Europe-1 in Aix-la-Chapelle, on the eve of the beginning of the G8 summit in the...

Greece’s Exit from Euro Would Be “Huge Mistake” (Spanish Prime Minister)

The Spanish Prime Minister Mario Rajoy believes that Greece’s exit from euro area would be a “big mistake” and invites the EU to defend all the European currency. “The departure of Greece in the euro area would be a great mistake, because the euro is a basic project uniting Europe”, told Mr Rajoy reporters after an intervention the Congress of Deputies (lower house of parliament...

Greece: into new legislative

ATHENS, Greece (AP) — Greece’s socialist leader Evangelos Venizelos officially gave up the mandate to form a coalition government Saturday after three rounds of negotiations proved fruitless, bringing the crisis-struck country one step closer to new elections. There are still a tiny chance of forming a coalition government when President Karolos Papoulias will receive in the day the leaders of major political...

Clashes in Cairo: the army managed to restore calm (TV)

The army and police managed to stop the clashes in Cairo that have already killed 11 people, said the Egyptian public television on Wednesday. According to this, participants in the clashes that took place near the building of the Egyptian Ministry of Defence, left the scene of the conflict to disperse in the surrounding streets. Previously, the Western media have reported that a group of youths attacked Wednesday...

Prague: Demonstration against government reforms (media)

On Saturday thousands of people gathered in the Czech capital Prague to protest against government reforms and cuts it plans in social spending without regard to their impact on population, reported international media. The protesters are demanding that the government waives reforms to reduce the budgetary financing of pensions and Public Health. Moreover, they demand new elections. For its part, the Czech...

Cease-fire in Syria: no clashes reported (media)

No clashes between government forces and opposition have been reported in Syria since the entry into force of the cease-fire (0300 UTC 12 April) under the plan of Kofi Annan, said the international media on Thursday. However, according to Syrian Observatory of Human Rights (OSDH), explosions were heard in the town of Zabadani (southeast), these claims have not been confirmed by other sources. Western media regularly...

Mali: Tuareg rebel group announced a cease-fire unilaterally

The National Movement for the Liberation of Azawad (MNLA), political and military organization of Malian Tuareg, announced Wednesday a cease-fire unilaterally, states a press movement, published on its official website. “The National Movement for the Liberation of Azawad, following the complete liberation of the territory of Azawad and given the strong demand of the International Community (…) decides...

Athens: more than 400 people arrested during a police operation

On Thursday 430 people were arrested in Athens, during a police operation in crime prevention, police reported Friday. Almost all of those arrested are non-Greek migrants. Police carried out more than 1,000 identity checks. Several drug-related crimes, theft, prostitution and violation of immigration laws were discovered during this operation, in which 400 police officers took part. For two years, the Greek...

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