eurozone

Stories 81 - 100 | << Prev   Next >>

Greek Workers Strike Over Austerity

Protesters clash with police in Athens

(Newser) - Greece's major unions launched a 48-hour general strike today, protesting the latest austerity cuts designed to appease international creditors. Thousands of people poured into the streets of Athens, the AP reports, and demonstrations occasionally got ugly; outside of Parliament, dozens of youths hurled fire bombs and stones at police,...

Greek Leaders Reject Debt Deal

Coalition can't get past pension cuts

(Newser) - The heads of the parties in Greece's ruling coalition emerged from their long-awaited meeting yesterday empty-handed, refusing to accept a new austerity plan. Leaders were willing to accept a 22% cut in the minimum wage and job cuts, but balked at almost $800 million worth of proposed pension cuts,...

Greek Leaders Finally Huddle on Debt Deal

After delay over translation

(Newser) - The leaders of the three parties comprising Greece's coalition government finally met today to decide whether to make deeper austerity cuts in exchange for a $170 billion bailout from Europe, after three days of delays, the AP reports. The new austerity measures would be in addition to the 15,...

Czechs, Brits Reject Deal to Save EU Economy

Critics attack European Union's fiscal belt-tightening deal

(Newser) - The Czechs thought about it, and they said no. All other 27 EU member states except Britain agreed today to join a compact to impose budget discipline on fellow nations, the BBC reports. British Prime Minister David Cameron had already refused to take part, saying that ceding control of his...

S&P: We'll Likely Declare Greece in Default

As Greece struggles to restructure debt

(Newser) - Standard & Poor's will likely downgrade Greece's rating to "selective default" after its debt restructuring, the rating agency said at a Bloomberg event today—though it adds that the move might not destroy the European Union's credit. "It's not a given that Greece's...

Critical Greek Debt Talks Hit Impasse

Creditors, rescuers clash over rates, write-downs, and sweeteners

(Newser) - Greece is trying to cut about $129 billion from its gargantuan $350 billion debt, but as creditors and rescuers face off, the complex deal appears stuck and time is running out, reports the Wall Street Journal . With $19 billion in Greek debt coming due March 20, European authorities had hoped...

S&P Downgrades Eurozone Bailout Fund

Says it could return it to AAA if sacrifices are made

(Newser) - Rating agency Standard & Poor's says it has downgraded the creditworthiness of the eurozone's bailout fund by one notch to AA+. The downgrade, which follows ratings cuts for AAA-rated France and Austria , could hurt the European Financial Stability Facility's ability to raise cheap bailout money.

Collapse of Eurozone Begins in 2012: European Think Tank

 Euro Breakdown Starts Now 
think tank says
Jan 2, 2012 4:50 PM CST

Euro Breakdown Starts Now

CEBR gives Eurozone 99% failure rate over 10 years

(Newser) - Welcome to the year that the Eurozone begins its breakup and slides into certain doom—or so says one economic think tank in Europe. There is a 60% chance that "at least one country (and probably more) will leave" the euro in 2012, the head of the Centre for...

ECB Makes Massive $639B Loan to Banks

For a period of three years

(Newser) - The European Central Bank loaned a massive $639 billion to 523 banks for an exceptionally long period of three years to steady a financial system that is under pressure from the euro zone debt crisis. It is the biggest ECB infusion of credit into the banking system in the 13-year...

Euro Dives Below $1.30
 Euro Dives Below $1.30 
Last time: Jan. 12
Dec 14, 2011 7:52 AM CST

Euro Dives Below $1.30

Italian bond sale drives price south

(Newser) - The euro has dropped below the $1.30 mark for the first time since January, after a less-than-ideal Italian bond offering stoked fears over the Europe's ongoing debt woes. The currency at times sagged as low as $1.2994 in European trading, after swinging between $1.2989 and $1....

Moody's Scoffs at Europe Deal, Threatens Downgrades

Warning stems from concerns over widening growth gap

(Newser) - Despite the deal reached by European leaders to strengthen the euro zone, Moody's warned today that the crisis is still at a "critical and volatile stage" and that some European Union countries could still find their sovereign ratings downgraded. It expressed specific concern about the expanding growth gap...

As Summit Looms, ECB Slashes Rate Again

Meanwhile, Merkel and Sarkozy try to drum up support for plan

(Newser) - The European Central Bank slashed rates for the second time in as many months today, ahead of a crucial EU summit that could determine the fate of the euro. Analysts had expected the cut, which brings the key rate from 1.25% down to 1%, but sources tell Bloomberg that...

S&P to Put Euro Zone on Credit Watch

Announcement likely after markets close

(Newser) - A person familiar with the matter says Standard & Poor's is examining the credit rating of all 17 euro zone countries for a possible downgrade as the continent's debt crisis lingers. The person said today that S&P is likely to make an announcement on putting the euro...

Sarkozy, Merkel Announce Plan to Save Euro

Meanwhile, Italy announces austerity measures

(Newser) - Nicolas Sarkozy and Angela Merkel sat down for a working lunch in Paris today, and emerged with a joint statement calling for big changes to the euro zone’s governing treaties aimed at preventing future crises. Their vision includes a new European monetary fund, zone-wide deficit limits, and automatic penalties...

Clutching at Straws
Clutching
at Straws
OPINION
Dec 5, 2011 3:55 AM CST

Clutching at Straws

Euro leaders must embrace real fiscal union before it's too late

(Newser) - With the survival of the eurozone at stake, European leaders are aiming to complete a plan this week that will transform the region and save the euro, reports the New York Times . Despite major differences that remain between Angela Merkel and Nicolas Sarkozy, a four-point deal is taking shape, including...

Sarkozy: Change—or Kiss Eurozone Goodbye

At odds with Germany over ECB, deflation, budget enforcement

(Newser) - French President Nicolas Sarkozy yesterday called for changing the eurozone treaty to make a tighter, stronger union, and demanded more budget discipline, increased help for foundering economies, and replacing countries' veto rights with qualified majorities, reports Reuters . He also called for the European Central Bank to be more interventionist and...

Now France Rating May Be Cut
Now France's Rating
May Be Cut
Nov 29, 2011 2:30 AM CST

Now France's Rating May Be Cut

S&P may switch outlook on Triple-A rating to negative

(Newser) - Is there no nation with sound credit? Standard & Poor's is now considering changing the outlook for France's triple-A rating to negative within the next 10 days, signaling a possible downgrade, the French financial newspaper La Tribune reported yesterday. France is the last cushion between crumbling European economies...

As Euro Zone Fractures, It Eyes Closer Ties

Countries seek deal that would forge tighter economic bond

(Newser) - Amid fears of dissolution, euro zone leaders are considering going the opposite way: tying member states’ economies closer together. As the debt crisis continues, European leaders are considering a fiscal union that would have been a political impossibility mere months ago, the Wall Street Journal notes. A pact on the...

Get Ready for &#39;Eurogeddon&#39;
 Get Ready for 'Eurogeddon' 
OPINION
Nov 27, 2011 7:23 AM CST

Get Ready for 'Eurogeddon'

Jeremy Wagner warns of riots, 'biggest mass default in history'

(Newser) - With the euro crisis spreading even to mighty Germany last week—when investors ignored a bund auction and sovereign debt yields grew more expensive than the UK's—it is clear now that the euro crisis is not just about the debts of the poorer, peripheral countries like Greece and...

Buffet: Eurozone Not Working
 Buffet: Eurozone Not Working 
Nov 22, 2011 1:15 AM CST

Buffet: Eurozone Not Working

Billionaire investor hails Japanese business during Fukushima visit

(Newser) - The European debt crisis has exposed serious problems in the 17-country Eurozone that will require radical changes to fix, warns Warren Buffett. There is a "major flaw in the euro system," the billionaire investor said yesterday while on his first visit to Japan. "That flaw won't...

Stories 81 - 100 | << Prev   Next >>