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A fragile state has several attributes. Common indicators include a state whose central government is so weak or ineffective that it has little practical control over much of its territory; non-provision of public services; widespread corruption and criminality; refugees and involuntary movement of populations; and sharp economic decline. [1]
On 14 September 2011, in a move to further ease Ireland's difficult financial situation, the European Commission announced it would cut the interest rate on its €22.5 billion loan coming from the European Financial Stability Mechanism, down to 2.59 per cent—which is the interest rate the EU itself pays to borrow from financial markets.
A graph showing the economic data from Greece, Ireland, Italy, Portugal, Spain, Great-Britain, Germany, the EU and the eurozone for 2009 Net international investment position of PIIGS plus some other states. PIGS is a derogatory acronym that has been used to designate the economies of the Southern European countries of Portugal, Italy, Greece ...
Financial stability is the absence of system-wide episodes in which a financial crisis occurs and is characterised as an economy with low volatility. It also involves financial systems' stress-resilience being able to cope with both good and bad times. Financial stability is the aim of most governments and central banks. The aim is not to ...
The final conditions for activation of the bailout package was outlined by the Troika's MoU agreement in April 2013, and include: (1) Recapitalisation of the entire financial sector while accepting a closure of the Laiki bank, (2) Implementation of the anti-money laundering framework in Cypriot financial institutions, (3) Fiscal consolidation ...
The financial package was designed to cover financing needs up to €85 billion and would result in the EU providing up to €23 billion through the European Financial Stabilisation Mechanism and the EFSF up to €18 billion over 2011 and 2012. The first bonds of the European Financial Stability Facility were issued on 25 January 2011.
The political concerns in Italy are spreading across markets causing serious pressure on the banking sector. Global equities have lost about 1.5% in the past 24 hours and risk aversion has ...
A fragile state or weak state is a country characterized by weak state capacity or weak state legitimacy leaving citizens vulnerable to a range of shocks. The World Bank, for example, deems a country to be ‘fragile’ if it (a) is eligible for assistance (i.e., a grant) from the International Development Association (IDA), (b) has had a UN peacekeeping mission in the last three years, and (c ...