Economy

Geithner's "succinct" message irks Europeans

John O'Donnell and Robin Emmott Reuters 17.09.2011
Geithner's "succinct" message irks Europeans

It was an unprecedented visit designed to spur the euro zone into action. But Treasury Secretary Timothy Geithner's high-profile trip to Europe left some European officials more dumbstruck than starstruck.

'Political Dysfunction' at Root of World's Troubles: U.S. Treasury Secretary

The global economy is being held back in part by political problems that are complicating an array of other forces that have conspired against growth, U.S. Treasury Secretary Tim Geithner said.


International alarm over euro zone crisis grows

Noah Barkin and Stefano Bernabei Reuters 14.09.2011
International alarm over euro zone crisis grows

International alarm over Europe's debt crisis hit new heights on Tuesday, with President Barack Obama pressing the bloc's big countries to show leadership as talk of a Greek default escalated and markets heaped pressure on Italy.

German minister raises ‘orderly default’ for Greece

Germany has stepped up its rhetoric against Greece, warning that the debt-laden country could default on its debts in a move that highlights the growing divisions at the heart of Europe.


Iceland says it was "bullied" over bank debt

Iceland's president accused European countries on Sunday of having bullied it into agreeing to guarantee repayment of the debts of a failed bank, reviving a dispute with Britain and the Netherlands whose citizens are owed billions.

Italy pledges to meet debt goal as worries grow

Francesca Landini and Stephen Jewkes Reuters 05.09.2011
Italy pledges to meet debt goal as worries grow

Economy Minister Giulio Tremonti promised on Sunday to meet Italy's budget commitments after the European Central Bank stepped up pressure for action by the struggling center-right government.


Merkel backs euro fund boost, faces revolt risk

Sarah Marsh and Noah Barkin Reuters 01.09.2011
Merkel backs euro fund boost, faces revolt risk

German Chancellor Angela Merkel's cabinet approved new powers for the euro zone's bailout fund on Wednesday, but she faces an uphill battle to convince party skeptics to back efforts to contain the crisis.

"Act now" to save global recovery, IMF chief urges

Ann Saphir and Mark Felsenthal Yahoo! News 29.08.2011
"Act now" to save global recovery, IMF chief urges

The new head of the IMF on Saturday called on global policymakers to pursue urgent action, including forcing European banks to bulk up their capital, to prevent a descent into a renewed world recession.


Euro bail-out in doubt as "hysteria" sweeps Germany

Ambrose Evans-Pritchard Telegraph 29.08.2011
Euro bail-out in doubt as "hysteria" sweeps Germany

German Chancellor Angela Merkel no longer has enough coalition votes in the Bundestag to secure backing for Europe's revamped rescue machinery, threatening a consitutional crisis in Germany and a fresh eruption of the euro debt saga.

Biden tells China not to count out U.S. strength

U.S. Vice President Joe Biden on Sunday rejected views that American power is waning and said Washington would never default, wrapping up a China visit that has played down tensions between the world's two biggest economies.


France, Germany Propose 'True European Economic Government'

With the sovereign debt crisis deepening, the leaders of France and Germany announced that they would seek a "true European economic government" made up of all the heads of state of eurozone countries but led by European Union President Herman Van...

Euro reaches eleventh hour as Angela Merkel and Nicolas Sarkozy hold crisis talks

Louise Armitstead, and Bruno Waterfield Telegraph 21.07.2011
Euro reaches eleventh hour as Angela Merkel and Nicolas Sarkozy hold crisis talks

Angela Merkel and Nicolas Sarkozy held crisis talks in Berlin amid warnings that a failure to break the debt crisis deadlock within 24 hours would send shockwaves around the global economy.


Ratings agencies rattle cages in U.S., Europe

Walter Brandimarte Reuters 18.07.2011
Ratings agencies rattle cages in U.S., Europe

The credit ratings agencies are again angering governments, but this time they are taking on the big fish of the world economy.

Tehran ready to give Syria $5.8 billion: report

Iranian Supreme Leader Ayatollah Ali Khameini backs offering $5.8 billion in aid to Syria to bolster its economy, a French newspaper said Friday, citing a report by a Tehran think-tank linked to Iran's leadership.


Exclusive: EU calls emergency meeting as crisis stalks Italy

European Council President Herman Van Rompuy has called an emergency meeting of top officials dealing with the euro zone debt crisis for Monday morning, reflecting concern that the crisis could spread to Italy, the region's third largest economy.

US dollar seen losing global reserve status

Jack Farchy Financial Times 28.06.2011
US dollar seen losing global reserve status

The US dollar will lose its status as the global reserve currency over the next 25 years, according to a survey of central bank reserve managers who collectively control more than $8,000bn.


Moody's threat to downgrade Italian debt raises eurozone contagion fears

Moody's has threatened to cut Italy's credit ratings on concerns over a possible rise in eurozone interest rates may derail the country's fragile economic recovery, raising more fears of contagion from the Greek debt crisis.

Greece Receives Lowest Credit Rating by S&P

Jennifer Ryan and Gabi Thesing Bloomberg.com 14.06.2011
Greece Receives Lowest Credit Rating by S&P

Greece was branded with the world’s lowest credit rating by Standard & Poor’s, which said the nation is “increasingly likely” to face a debt restructuring and the first sovereign default in the euro area’s history.


Obama Presses Europe, Pledges Help for Greek Crisis

President Barack Obama on Tuesday urged European countries and bondholders to prevent a "disastrous" default by Greece and pledged U.S. support to help tackle the country's debt crisis.

Greece to start austerity drive as nation seethes

George Georgiopoulos Yahoo! News 06.06.2011
Greece to start austerity drive as nation seethes

Greek Prime Minister George Papandreou starts a campaign on Monday to secure a new international bailout by imposing years of austerity on a nation already seething over corruption and economic mismanagement.



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