Eurozone hit by debt woes

[26 January 2012, CITY A.M.] On 26 January, Julian Harris writing on CITY A.M. reported that debt crises in Greece and Portugal showed no signs of abating yesterday, yet elsewhere in the Eurozone periphery Ireland successfully accessed bond markets for the first time since its bailout. While Ireland’s government appears to be recovering relatively well since accepting an international rescue package in 2010, Portugal may need a further €30bn in EU and IMF rescue funds, one of its chief business leaders said yesterday. 

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The euro area consists of Belgium, Germany, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

The EU27 includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.

From 1 January 2011 the euro area (EA17) also includes Estonia.