Europe round-up: Berlin insists only Europe can rescue the Greeks as ECB injects bumper emergency cash to banks, and more

8 May 15

A round-up of recent public finance stories from Europe you might have missed.

Germany’s finance minister has insisted only Europe can save the bankrupt Greeks as the European Central Bank provided its biggest liquidity boost to the country in over three months. (Daily Telegraph)

The troika mission continues meetings in Cyprus, as part of a new review mission that began last week following the implementation of the insolvency bill and the foreclosure framework that has set the €10bn financial assistance programme back on track. (Famagusta Gazette)

Estonia’s government recently met to consider budget strategies for the coming four years, including talk of tax measures. (Tax-News)

Following its latest post-programme surveillance mission, both the European Commission and the International Monetary Fund said the recovery in Ireland continues to strengthen. (Business Irish)

Europe slow to adopt new accounting standard despite Greek crisis

FEATURE: Greece is hardly the only European country with weak public accounting systems. In the five years since the eurozone crisis exploded, the European Union has adopted a great number of measures to improve its fiscal governance. Yet amazingly, it still does not have a robust, harmonized way of measuring and monitoring the financial activities of its member states. (Wall Street Journal)
 

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