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The financial and economic crisis - a chronological overview - August 2010

The economic crisis has prompted intense and sustained action by the EU's national governments, the European Central Bank and the Commission. All have been working closely together to support growth and employment, ensure financial stability, and put in place a better governance system for the future.

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20 August 2010
First review of the Economic Adjustment Programme for Greece – Summer 2010

This European Commission report provides a detailed assessment of compliance, an overview of challenges faced by Greece and a summary of the main findings of the mission.

>> Economic and Financial Affairs. First review of the Economic Adjustment Programme for Greece

11 August 2010
Statement by Commissioner Olli Rehn on today's vote by Slovakia's Parliament rejecting the participation in the loan for Greece

>> Economic and Financial Affairs. Memo 2010/386 Statement by Commissioner Olli Rehn Choose translations of the previous link 

5 August 2010
Conclusion of first EC, ECB, IMF review mission to Athens, Greece

Concluding their first quarterly reveiw mission to Athens of 26 July to 5 August, the European Commission, European Central Bank and the International Monetary Fund assess that the Greek government’s economic program has made a strong start.

>> Economic and Financial Affairs. Statement by the EC, ECB, and IMF on the first review mission to Greece 

European Central Bank (ECB) reconfirms low interest rates

The ECB decides that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility remain unchanged at 1.00%, 1.75% and 0.25% respectively.

>> ECB. Monetary policy decisions

4 August 2010
The European Financial Stability Facility (EFSF) becomes fully operational

As laid out in the EFSF framework agreement of 7 June 2010, the facility is now authorised to issue bonds in the market.

>> EFSF. EFSF becomes fully operational



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