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Cyprus: Banking crisis stalls financial live

Cyprus - BBC

Homeowners have told of how sales of their properties are on hold and businesses have called for clarity amid banking uncertainty in Cyprus. The country is braced for an emergency session of its parliament, and a planned vote, regarding a 10bn euro ($13bn; £9bn) financial rescue.

 

Spanish recession set to deepen as austerity bites

Spanish Economy

The Spanish economy is falling deeper into recession and depositors are pulling their money out of the banks, figures published on Tuesday showed, while the country's most economically important region, Catalonia, said it needed a major rescue from Madrid.

 

Dow falls more than 200, interrupting 2012 rally

Stock Market

Stocks suffered their biggest losses in three months Tuesday, the first hiccup in a strong and steady rally to start the year. Wall Street worried about the global economy and waited while Greece pressured the last investors to sign on for its bailout.

 

Failure of Greek debt deal could cost $1 trillion

Decision day for the Greek debt crisis is drawing near, and insiders are predicting that if things go awry it could cost the world economy $1 trillion.

 

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.

 

Greece Reaches Deal for Rescue Package

Greece Reaches Deal for Rescue Package

Greece reached agreement with the European Union and the International Monetary Fund on rescue loans to keep Athens from defaulting on its debts, a deal that will impose harsh cuts on the county's 11 million people for years.

 

Euro-Zone Nations Offer $40 Billion to Greece

Euro-Zone Nations Offer $40 Billion to Greece

Euro-zone finance ministers unanimously approved a detailed emergency aid mechanism for Greece but stressed that the country had not yet requested a bailout.

 

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