Europe, Europe Debt Crisis | featured news

E.C.B. President Talks Up the Euro, and Lifts Stocks

Euro

Markets and the euro rose after Mario Draghi reportedly told a conference in London that the central bank would “do whatever it takes to preserve” the currency.

 

Greece will need more debt restructuring

Greece is unlikely to be able to pay what it owes and further debt restructuring is likely to be necessary, three EU officials said on Tuesday, a cost that would have to fall on the European Central Bank and euro zone governments.

 

How Spain's regions got into trouble

Eurozone Crisis

Spain's 17 regional governments are a big part of the country's financial problems. Like the regional savings banks, they are victims of the country's property boom and bust. During the boom years, regional government tax revenues were swelled by stamp duties on property sales, and by income taxes paid by immigrants that came to work on the country's construction sites... Then the bust came...

Senh: Europe is finally feeling the effects of the housing bubble and financial crisis of 2008 that affected the U.S.

 

Global Stocks Sink as Spanish Bond Yields Soar

Eurozone

Spain’s borrowing costs rose to record levels for a third consecutive trading day on Monday on concerns that a deepening recession and the financing problems of its regions would force the government to seek a full-fledged bailout.

 

European slowdown hitting some states hard

Eurozone Risk to U.S.

The European meltdown is weighing heavily on the U.S. economy, with states that rely heavily on exports most at risk from the deepening crisis overseas. An analysis by Wells Fargo estimates that Utah and West Virginia economies face the biggest risk from the problems in the eurozone, while many Western states including Wyoming and Colorado are unlikely to see much impact.

 

For Germany, slow and steady does it

German leaders have a message for their anxious neighbors: Perhaps the euro crisis isn’t so dire after all. A growing chorus of German policymakers say they have years to resolve the euro zone’s problems, even as Italy and Spain press for urgent action to bring down their borrowing costs, which are approaching new heights.

 

Spanish Borrowing Costs Surge, Reviving Worries About Euro Zone

Ten-year bond yields rose above 7 percent and shorter-term issues also sold at higher cost, raising fears that recent European accords were not enough to stem the debt crisis.

 

Greece in hard spot as debt payment looms and European doubts grow

BERLIN —Greece’s new leaders have had only a month to confront their country’s dismal tangle of economic problems, but some in Europe think the troubled Mediterranean country is up against a hopeless task.

 

Fewer U.S. companies planning to hire; Europe looms: poll

American companies are scaling back plans to hire workers and a rising share of firms feel the European debt crisis is taking a bite out of their sales, a survey showed on Monday.

 

Spain reforms to raise $69 billion

The Spanish government's most recent reforms will slash 56.4 billion euros ($69 billion) from the public deficit in the next two and a half years, an official document showed on Saturday, leaving a gap to be filled by taxes on energy.

 

Subscribe to this RSS topic: Syndicate content