Europe, Country Bailout | featured news

Economist Papademos to lead Greece’s unity government

Economist Papademos to lead Greece’s unity government

Economist Lucas Papademos will be Greece’s next prime minister, the Greek president’s office announced Thursday, giving to a non-politician the job of passing an unpopular bailout plan before elections are held next year.

 

Bailout loan withheld from Greece

The next tranche of rescue loans for Greece will be withheld until after a bailout referendum, expected in early December, European leaders warn.

 

Greek vote brings uncertainty back to Wall Street

Greek vote brings uncertainty back to Wall Street

NEW YORK (Reuters) - Stocks tumbled on Tuesday after investors were blindsided by a surprise call for a Greek referendum on an EU bailout plan, casting doubt on the sustainability of the recent market rally.

 

Wall Street jumps at open on Europe deal

Stocks jumped more than 2 percent at the open on Thursday after European leaders agreed to boost the region's bailout fund and struck a deal with banks and insurers to accept 50 percent losses on Greek bonds.

Senh: Good to hear that European leaders finally came together and signed off on a plan to rescue troubled nations in the eurozone.

 

Sarkozy yields on ECB crisis role, pressure on Italy

Sarkozy yields on ECB crisis role, pressure on Italy

European Union leaders made some progress toward a strategy to fight the euro zone's sovereign debt crisis on Sunday, nearing agreement on bank recapitalization and on how to leverage their rescue fund to try to stop bond market contagion.

 

Official: EU banks have to raise $140 billion

Official: EU banks have to raise $140 billion

A top bank lobbyist insisted Saturday that banks and the eurozone are far from reaching a deal to cut Greece's debt, despite claims by eurozone finance ministers that they will ask banks to take steeper losses on their Greek bonds.

 

Slovakia Approves Expanded Eurozone Bailout Fund

Slovakian lawmakers on Thursday approved expanding the size and powers of the EU bailout fund, overcoming an earlier rejection and removing the last hurdle to the fund's use as the continent's main weapon against the debt crisis.

 

Germany, France agree on Europe bank bailout

Germany, France agree on Europe bank bailout

The leaders of Germany and France, the eurozone's two biggest economies, say they have reached agreement on strengthening Europe's shaky banking sector.

 

Greece to miss deficit targets despite austerity

Greece to miss deficit targets despite austerity

Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.

 

Repeating mistakes of the 1930s

Europe is caught in an economic pincer: slow-growth assaults from one side; fickle financial markets from the other. One obvious way out — the China option — seems barred by geopolitics. There is precedent. Historians blame the Great Depression’s severity in part on poor international cooperation. Economist Charles Kindleberger found a vacuum of power: Great Britain, the old economic leader, could no longer lead alone; and the United States — a replacement — wasn’t ready to help. Is there a parallel today between the United States and China? Are we repeating the mistakes of the 1930s? Unsettling questions.

 

Subscribe to this RSS topic: Syndicate content