Standard & Poor's Cuts Credit Ratings for Nine Euro Zone Nations

Standard & Poor's downgraded the credit ratings of nine euro zone countries, stripping France and Austria of their coveted triple-A status but not EU paymaster Germany, in a Black Friday 13th for the troubled single currency area.

Hong Kong retains top spot of world's freest economy

Hong Kong has retained its position as the world's freest economy, according to a ranking compiled by the Heritage Foundation, a conservative think tank. Singapore ranked second, followed by Australia, New Zealand and Switzerland.

Germany's stance on financial transaction tax risks French rift

Angela Merkel has warned that German support for the financial transaction tax (FTT) is not guaranteed, in a move that could open up a rift with France just days before the next European summit.

IMF urges members to boost funding under 2010 plan

IMF chief Christine Lagarde on Thursday urged member countries to quickly sign off on an agreement last year to double IMF resources and give under-represented nations, such as China, greater voting power in the global lender.

French credit downgrade could come 'within days'

Richard Wachman, Toby Helm and Kim Willsher The Guardian 19.12.2011
French credit downgrade could come 'within days'

France could be stripped of its triple-A credit rating before Christmas, raising new doubts about the survival of the euro, analysts have predicted.

China trims holdings of US Treasury debt

China bought less U.S. Treasury debt in October and total foreign holdings dipped for the first time since July.

French leaders declare a war of words on Britain

James Kirkup Telegraph 16.12.2011
French leaders declare a war of words on Britain

French leaders have launched outspoken public attacks on Britain, calling for the UK to lose its AAA credit rating and comparing its economy with that of Greece.

'No second chance' to save euro, warns Sarkozy

French president Nicolas Sarkozy warned Thursday that there would be "no second chance" if EU leaders meeting in Brussels Friday cannot reach a deal to save the euro. Paris and Berlin are looking to amend the bloc’s treaties to fix the currency.

Germany dampens hopes as France warns of euro 'explosion'

Economic powerhouse Germany played down hopes Wednesday that a crucial debt summit will save the euro as French President Nicolas Sarkozy warned the risk of a eurozone "explosion" was very real.

German Politician: Downgrade Is American Plot

Standard & Poor’s warning that no less than fifteen eurozone states, including Germany, could lose their AAA credit rating has been met with howls of protest from leading German politicians. The general secretary of the Social Democratic party (SP...

Standard & Poor's Places 15 EU Nations on Negative Credit Watch

Standard & Poor's on Monday warned it may carry out an unprecedented mass downgrade on the credit ratings of euro zone countries if EU leaders fail to reach an agreement on how to solve the region's debt crisis in a summit later this week.

Fed may give loans to IMF to help euro zone: paper

The Federal Reserve, along with the 17 euro zone national central banks, may help provide the International Monetary Fund with funds that could be used to aid debt-ridden states, a German newspaper said.

Eurozone ministers OK $10.7 billion Greek loan

DON MELVIN and GREG KELLER Yahoo! News 30.11.2011
Eurozone ministers OK $10.7 billion Greek loan

Eurozone ministers threw a lifeline to Greece on Tuesday as they scrambled to prevent financial chaos from spreading further and driving Europe's common euro currency into a catastrophic breakup.

OECD: euro collapse would have 'highly devastating outcomes' worldwide

The collapse of the euro could send the world's advanced economies into a severe recession, dragging emerging markets with them into the mire, the Organisation for Economic Co-operation and Development warned on Monday.

IMF drafting €600 billion bailout plan for Italy, Spain

The International Monetary Fund is being lined up potentially to help Italy and Spain amid growing fears that a European rescue scheme will not be able to prop up the countries.

Germany, France plan quick new Stability Pact: report

France and Germany are planning a quick new pact on budget discipline that might persuade the European Central Bank to ramp up its government bond purchases, Welt am Sonntag reported on Sunday.

Standard & Poor's lowers sovereign credit rating on Belgium

Standard & Poor's lowered its long-term sovereign credit rating for Belgium on Friday, citing the country's lack of a permanent government and a looming European recession that threatens the country's exports.

Italy collapse would be the 'end of the euro'

Italy had to pay record rates to raise €10bn this morning, while France and Germany warn that a blow-out in its giant debt mountain would signal "the end of the euro."

IMF beefs up lending tools as debt crisis spreads

Lesley Wroughton Reuters 23.11.2011
IMF beefs up lending tools as debt crisis spreads

The IMF on Tuesday beefed up its lending instruments and launched a six-month liquidity line, throwing help to countries with solid policies that may be at risk from the euro zone debt crisis.

Spain in race against time to avert bail-out

Ambrose Evans-Pritchard Telegraph 23.11.2011
Spain in race against time to avert bail-out

Markets have dashed any lingering hopes of an investor honeymoon for Spain's incoming leader Mariano Rajoy, sending the IBEX index in Madrid crashing through the 8,000 level and pushing borrowing costs to toxic levels.

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