Euro Crisis

Euro Crisis: Obama: No "silver bullet" for euro crisis

Jun 20 2012 @ 03:52
President Obama has said that European leaders recognised the need for “bold and decisive” action to resolve the debt crisis. Speaking at the G20 summit the US President argued that whilst there was no “silver bullet” that “Europe is moving closer towards further integration rather than break-up”. In a communique issued at the end of […]
 

Euro Crisis: Rising global alarm

Jun 19 2012 @ 05:44
Early news from the G20 summit in Mexico reflects rising global alarm over the ongoing euro crisis saga. European Commission President Jose Manuel Barroso mounted a strong defence of the EU’s handling of the financial crisis this morning. He told world leaders “we have not come here to receive lessons,” and pointed out that the […]
 

Euro Crisis: Greeks vote to back Euro-Bailout

Jun 18 2012 @ 06:28
A pro-bailout coalition government could be formed in Greece following the second election in six weeks. The centre-right New Democracy party gained the largest vote share with 29.5% with the pro-bailout socialists and former governing party Pasok on 12.3%. The formation of a pro-bailout government may lead to the Eurozone providing Greece with further financial […]
 

Euro Crisis: All Eyes On Greek Elections

Jun 15 2012 @ 05:21
All eyes are on Greece ahead of this weekend’s crucial elections. Rumours of a poll indicating Greeks would favour a pro-bailout government saw Greek stocks jump ten per cent yesterday. A pro-bailout result would decrease the likelihood of the embattled nation being forced out of the single currency. Moody’s Investment Service today downgraded ratings of […]
 

Euro Crisis: New Record High For Spanish Bond Rates

Jun 14 2012 @ 05:20
Spanish 10-year bond rates have hit a record high for a second day in a row. Reaching 6.854% after the ratings agency Moody’s cut the country’s credit to one notch above “junk” status. European leaders had hoped that a 100bn-euro bailout out for the Spanish banking sector would have calmed the market. Moody’s argue that […]
 

Euro Crisis: Greek Exit Necessary To Save The Euro?

Jun 13 2012 @ 05:19
UK Chancellor George Osborne has argued that Greece may have to leave the euro to save the troubled currency. In comments that may cause problems for the German Chancellor Angela Merkel, the UK’s top finance minister raised doubts about “whether the German government requires a Greek exit to explain to their public why they need […]
 

Euro Crisis: Stocks Lost Early Gains

Jun 12 2012 @ 07:18
Following an initial rise at news of a Spanish recapitalisation of banks, stocks yesterday quickly lost early gains. Almost every major market ended the day below last Friday’s closing level. Oil fell three per cent due to fears the debt crisis may threaten petroleum demand. Credit ratings agency Fitch downgraded Spanish banks BBVA and Santander […]
 

Euro Crisis: Market React Positively To Spanish Bank Bailout

Jun 11 2012 @ 07:16
European and Asian stock markets have risen sharply following news of a bailout to rescue Spanish banks. During morning trading the FTSE100 saw a 1.6% increase, compared to the Dax’s 2.2%, CAC 40’s 2.0% and Spain’s Ibex index up 4.4%. Alongside a Nikkei rise of 2.0% the Forex markets also saw an improvement with the […]
 

Euro Crisis: UK Believes Germany Cannot Act Alone

Jun 07 2012 @ 07:16
UK Prime Minister David Cameron has argued that Germany ‘cannot act alone’ to resolve the eurozone crisis. Speaking ahead of talks with the German Chancellor Angela Merkel, Mr Cameron said that “speed is of the essence” and that “every day that the European economies are stagnant are days when opportunities are lost, wealth is lost, […]
 

Euro Crisis: Spain Banks Not Seeking Bailout

Jun 06 2012 @ 07:15
Spanish economic minister Luis de Guindos has today denied that the country is seeking a bailout of its banking sector. Following growing speculation Mr de Guindos stated that “I have absolutely not discussed any intervention in Spain’s banks”. The remarks helped boost the Spanish market, with a 3% rise on Wednesday morning. There remains doubt […]
 
 
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