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  • Statement By The President Of The Eurogroup - Greece

    Date 15/02/2012

    As announced yesterday, I convened the Eurogroup to a conference call today inorder to discuss the outstanding issues regarding the second adjustment programme for Greece. Substantial further progress has been made since yesterday. First, wereceived the strong assurances provided by the leaders of the two coalition parties inGreece's government. Second, the Troika finalized and presented its analysis on the sustainability of Greece's public debt. Third, further technical work between Greeceand the Troika has led to the identification of the required additional consolidation measures of € 325 million and the establishment of a detailed list of prior actions together   with   a   timeline   for   their   implementation. Further considerations  are necessary regarding the specific mechanisms to strengthen the surveillance of programme implementation and to ensure that priority is given to debt servicing. This will strengthen debt sustainability further. On the basis of the elements that are currently on the table and the above-mentioned additional input, I am confident that the Eurogroup  will  be  able  to  take  all  the  necessary decisions  on  Monday 20 February.

  • World Bank President Zoellick To Step Down June 30th

    Date 15/02/2012

    World Bank Group President Robert B. Zoellick announced today he would step down at the end of a five-year term in which a transformed Bank played an historic role during the global economic crisis, using record replenishments to provide more than $247 billion to help developing countries boost growth and overcome poverty.

  • Paranapanema Debuts On The Novo Mercado Of BM&FBOVESPA

    Date 15/02/2012

    The participation of individual investors (including investment clubs) on BM&FBOVESPA in January was 21.01% while foreign investors had the leading share of investment in equities at 37.35%.

  • UK's Financial Services Authority Managing Director, Margaret Cole, To Leave This Year

    Date 15/02/2012

    The Financial Services Authority (FSA) today announced that managing director and Board member, Margaret Cole, will leave the organisation later this year, after nearly seven years at the UK regulator.

  • Digital Agenda: Plan To Make EU The World Leader In High-Performance Computing

    Date 15/02/2012

    High Performance Computing (HPC) is critical for industries that rely on precision and speed, such as automotive and aviation, and the health sector. Access to rapid simulations carried out by ever-improving super computers can be the difference between life and death; between new jobs and profits or bankruptcy. Hospitals in Germany use HPC to avoid last-minute decisions during childbirth, while analysis of 3D brain imaging through HPC has allowed much earlier diagnosis of disease. HPC has enabled car makers to develop new vehicle platforms in 2 years rather than 5 years, saving the European car industry up to €40 billion. 97 % of the industrial companies that employ HPC consider it indispensable for their ability to innovate, compete and survive.