europe debt crisis

Jobless rate now a leading political indicator

The discouraging new unemployment numbers present President Barack Obama with a sobering reminder that an uneven recovery from the recession can be a fragile argument for his re-election. It's all deepening his anxiety over the political and economic threat posed by the European debt crisis....

Senh: Overall, the unemployment rate has dropped from a high of 10% to 8.2% since Barack Obama became president. That's pretty good considering how the rest of the world is doing. You gotta look at the big picture.

Lots of Bad News Today: Europe, Asia, Jobs ... All Bad

Fri, 06/01/2012 - 11:55am — Sin-Mao Yang

So much for TGIF: all economic reports today were either disappointing or just plain bad.

First, people in Spain are taking their money out of local banks and putting them overseas. It’s similar to what the Greeks did a couple weeks ago - or was it a month? Either way, it’s not good.

Money flies out of Spain, regions pressured

Spaniards alarmed by the dire state of their banks are squirreling money abroad at the fastest rate since records began, figures showed on Thursday, and the credit ratings of eight regions were cut.

Senh: I guess they're following the Greeks.

Irish "yes" to give euro zone scant respite

Ireland was poised to announce a "yes" vote to a European budget discipline treaty on Friday, but the referendum result brings little respite to a euro zone tormented by doubts over Greece's future in the currency bloc and Spain's wobbly banks.

IMF: No bailout plans for Spain in the works

The International Monetary Fund says it has not been asked by Spain for a bailout and has not begun preparing one.

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ECB, EU officials warn euro's survival at risk

The European Central Bank stepped up pressure on Thursday for a joint fund to guarantee bank deposits in the euro zone, saying Europe needed news tools to fight bank runs as the bloc's debt crisis drives investors to flee risk.

Greek stocks soar on pro-bailout party's poll gain

Greek stock markets rebounded strongly on Monday from a 22-year low on hopes a pro-bailout party will win crucial national elections next month, which would avoid a catastrophic rift with international creditors and keep the struggling country within the euro currency union....

Spanish debt costs spiral as crisis deepens

Spanish 10-year borrowing costs neared the 7 percent danger level and Bankia shares hit record lows on Monday after the government, struggling to sort out its finances, proposed putting sovereign debt into the struggling lender.

Germany, France draw battle lines over eurozone bonds

Germany dismissed a French-led call for euro zone nations to issue common bonds, a day before a European Union leaders' summit which investors are looking to for new measures to counter the bloc's debt crisis.

Perhaps Greece won’t leave the euro, after all

Recall the reasons for the current euro panic: Greece is getting bailed out and, in return, it’s supposed to cut spending and raise taxes even further. But Greek voters don’t enjoy this austerity and are rebelling against politicians who agree to the deal. So Germany’s now hinting that Greece might get booted from the euro. Disaster, right?

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