Is it a new Day for the EU?” The Greek government and financial markets were cheered on Tuesday by an agreement between euro zone finance ministers and the International to reduce Greece's debt, paving the way for the release of urgently needed aid loans. The deal, clinched at the third attempt after weeks of wrangling, removes the biggest risk of a sovereign default in the euro zone for now, ensuring the near-bankrupt country will stay afloat at least until after a 2013 German general election. "Tomorrow, a new day starts for all Greeks," Prime Minister Antonis Samaras told reporters at 3 a.m. in Athens after staying up to follow the tense Brussels negotiations. After 12 hours of talks, international lenders agreed on a package of measures to reduce Greek debt by more than 40 billion euros, projected to cut it to 124 percent of gross by 2020. I thank you Firozali A.Mulla DBA

28/11/2012Bank lending to private households in the euro area, which has practically dried up in recent months, contracted again last month in face of the region's crippling debt crisis, ECB data showed on Wednesday. Eurozone bank loans to the private sector declined by 0.7per cent in October compared with the level in the same period last year after already shrinking by 0.9per cent the previous month, the European Central Banksaid in a statement. President Mario Draghi has said that weak lending to the private sector reflected a pessimistic view of Eurozone growth prospects and heightened risk aversion amid the crisis. This is proving very difficult for the budget makers. I thank you Firozali A.Mulla DBA

29/11/2012 may be there is some good news today I hope. Greek government and financial markets were cheered on Tuesday by an agreement between Eurozone finance ministers and the International Monetary Fund to reduce Greece's debt, paving the way for the release of urgently needed aid loans. The deal, clinched at the third attempt after weeks of wrangling, removes the biggest risk of a sovereign default in the Eurozone for now, ensuring the near-bankrupt country will stay afloat at least until after a 2013 German general election. "Tomorrow, a new day starts for all Greeks," Prime Minister Antonis Samaras told reporters at 3 am in Athens after staying up to follow the tense Brussels negotiations. I thank you Firozali A.Mulla DBA

30/11/2012At last the axe comes and we are lost for words. David Cameron has sparked a major political row by expressing his "serious concerns and misgivings" about press regulation backed by law. The Prime Minister broadly welcomed the principles of Lord Justice Leveson's 2,000-page report, in which the judge called for a new watchdog to curb press "havoc". Mr Cameron agreed that keeping the status quo was not an option and said the press should be given a deadline to implement a new regulatory system. But he was accused of "betrayal" by campaigners after rejecting the central recommendation that the regime would need to be supported by statute in order to command public confidence. However, the Government is drafting legislation based on the report but only "to show it would not work", Downing Street sources said. The however and subject clause is very interesting but comes later. A top Republican leader emerged from a meeting with the U.S. treasury secretary Thursday and accused Democrats of failing to outline specific cuts to avert deep austerity measures that threaten to send the economy into recession at the start of next year. "No substantive progress has been made between the White House and the House" in the past two weeks, House Speaker John Boehner told reporters after the private meeting with Tim Geithner. "I was hopeful we'd see a specific plan for cutting spending, and we sought to find out today what the president really is willing to do." Boehner spoke by phone with President Obama on Wednesday night, and he said his remarks Thursday were the result of that conversation as well. I thank you Firozali A.Mulla DBA

30/11/2012Some good news in EU? May be? A European Union official tells The Associated Press that a deal has been reached under which Greece's debt would be reduced to 124% of GDP by 2020. The original goal had been 120% of GDP. The agreement would pave the way for indebted Greece to receive the next instalment of its much-needed bailout loans. Mario Draghi, president of the European Central Bank, welcomed the agreement. "It will certainly reduce the uncertainty and strengthen confidence in Europe and in Greece," Draghi said. I thank you Firozali A.Mulla DBA