Tag: Italy

As I wrote on June 19, the Eurozone is a wreck, and Greece, which has since announced it will leave the EU on January 1, 2013, can’t even afford to pay attention. Spain is in trouble, Italy is swimming in

This morning’s key headlines from GenerationalDynamics.com. Germany and Angela Merkel cave in to Italy and Spain Germany’s Parliament approves the growth/fiscal pact China blocks Bloomberg web site over story on Xi Jinping’s vast wealth Top London banker Geraint Anderson describes

The summit that began this morning in Brussels for the 27 members of the European Union is the 19th since the Greek crisis began two and a half years ago. While the meeting is for the entire EU, the focus

The federal budget situation has never been more dire; either Washington does its job, or the defense budget is slashed.  The defense budget has already seen nearly $500 billion in cuts, and will see another $500 billion lost if the

Asian markets mostly fell on deepening European debt concerns on Tuesday after 28 Spanish banks were hit with a downgrade as traders remained downbeat ahead of a European Union summit. Adding to the gloomy sentiment, Cyprus became the fifth eurozone

Leaders of the eurozone’s four biggest economies gather in Rome Friday to thrash out ideas to tackle the debt crisis, with calls for the bloc’s bailout fund to intervene on bond markets set to top the agenda. The talks, which

Spain said Wednesday that it had no need of a full-blown bailout even though its borrowing costs were hovering near euro-era records and a vast rescue loomed for its stricken banks. Fears mounted among investors that punitive borrowing rates could

The current financial situation in the Eurozone is ugly, and the state of finance in Greece remains even uglier. Spain needs a bailout, Italy needs a bailout, and Greece by itself owes “161 billion” Euros to other governments in the

(AP) Greek polls: Pro-bailout conservatives in firstELENA BECATOROSAssociated PressATHENS, GreeceUpdated exit polls predict that Greece’s conservative New Democracy party will come in first in an election that is crucial for Europe and the world. Although no party appears to have

(AP) Greek exit polls: Top 2 parties neck and neckELENA BECATOROSAssociated PressATHENS, GreeceIn an election crucial for Greece, Europe and the world, exit polls on Sunday showed the two top contenders in Greece to be neck-and-neck. The outcome of Sunday’s

By DAVID McHUGH, NICHOLAS PAPHITIS and COLLEEN BARRYAssociated PressATHENS, GreeceIn Europe’s most economically stricken countries, people are taking their money out of their banks as a way to protect their savings from the growing financial storm. Worried that their savings

France, which has just elected a Socialist president, is the country that most wants President Barack Obama to win reelection, according to a new Pew Research survey that measured global attitudes toward the United States.  Ninety-two percent of those polled in

By ELENA BECATOROSAssociated PressATHENS, GreeceGreece must form a government after this weekend’s vote, Conservative leader Antonis Samaras said Wednesday, insisting that his country should stay in the eurozone and try to amend its international bailout deal to stimulate its moribund

By CHRISTINA REXRODEAP Business WriterNEW YORKU.S stocks struggled for direction Wednesday, with the debt maelstrom in Europe as an ominous backdrop. The major stock indexes opened lower, then briefly turned positive. Shortly before noon, the Dow Jones industrial average and

Italy will not need a bailout to survive the economic debt crisis, Prime Minister Mario Monti said in an interview with German radio on Tuesday, amid fears Rome may be forced to call for aid. “Italy even in the future

(AP) Spain borrowing cost crisis: Rate at euro-era highBy ALAN CLENDENNING and HAROLD HECKLEAssociated PressMADRIDSpain’s benchmark borrowing rate hit its highest level Tuesday since the country adopted the euro currency, after ratings agency Fitch downgraded 18 banks on Tuesday and

Like a bad soap opera, the European debt crisis never wants to end, and it’s likely to enter a worse phase when Greece holds its next election on June 17. With one week to go, the outcome seems preordained: the

As investors panic over the debt crisis in Greece, Italy, and Spain, Germany has emerged as a safe haven for investors–so much so that the interest rate on ten-year German government bonds dropped below zero on Friday. That means investors

(AP) BRUSSELSUnemployment across the 17 countries that use the euro stayed at 11 percent in April _ the highest level since the single currency was introduced back in 1999, piling further pressure on the region’s leaders to switch from austerity to

Europe is set for a rebound to growth the latest forecasts show, but unemployment will keep on rising, a conundrum that highlights the difficult economic reforms that still need to be made. Policymakers have generally taken it as a given

(AP) Spain’s Bankia asks for $24B in state aidBy HAROLD HECKLE and CIARAN GILESAssociated PressMADRIDSpain’s troubled bank, Bankia, asked the Spanish government for (EURO)19 billion ($23.8 billion) in financial support on Friday, the day that a leading credit rating agency