The president of the European Commission appealed to EU leaders on Thursday to set aside their differences and unite to rescue the euro from a sovereign debt crisis that is menacing the world economy.
To avoid an overwhelming national debt and the forced austerity measures destined to follow, the Eurozone’s citizens need to get the fire hose of money creation out of the hands of private banks and back into the hands of the people. But how?
As EU technocrats attempt to seize total control over national economies by exploiting the eurozone debt crisis to empower and enrich their own corrupt institutions, top banks like UBS are on hand to supply a helpful deluge of doomsday rhetoric in or
Many Greeks are draining their savings accounts because they are out of work, face rising taxes or are afraid the country will be forced to leave the euro zone. By withdrawing money, they are forcing banks to scale back their lending -- and are inadv
A branch of the Greek central bank. Bank deposits are falling rapidly. Many Greeks are draining their savings accounts because they are out of work, face rising taxes or are afraid the country will be forced to leave the euro zone.
The threat from Standard & Poor’s that Europe’s six biggest economies may see their top-notch ratings downgraded has thrown some grit into the risk asset rally.
“This is still an insolvent economy,” said Constantin Gurdgiev, an economist and lecturer at Trinity College in Dublin. “Just because we’re playing a good-boy role and not making noises like the Greeks doesn’t mean Ireland is healthy.”
With the euro at stake, the main leaders of the euro zone said they would remake the European Union into a more integrated political and economic federation, with tight legal restraints on how much debt national parliaments can issue.
In response to pressure from Wall Street, the White House and central banks drastically cut interest rates for currency swaps. This will flood world markets with more dollars and mean rising prices for every American at the grocery store.
Class war across Europe rages
German Chancellor Angela Merkel flatly rejected any quick-fix ideas to try to resolve the European financial crisis, telling lawmakers Friday that treaty changes and a stricter fiscal union were the only path forward - a process could take years.
China, seeking natural resources to fuel its booming economy, has developed close ties with nations such as Sudan and Zimbabwe whose human rights records make them pariahs to the West. Some 3,500 delegates at the Busan forum are debating how to ma
China's "backwardness" in terms of economic development still leaves it far behind developed countries, Lin said, noting that in relative terms to the U.S., the country is at the level of Japan in 1951, Korea in 1977, and Taiwan in 1975. He said
The panic engulfing Europe’s banks is no less alarming. Their access to wholesale funding markets has dried up, and the interbank market is increasingly stressed, as banks refuse to lend to each other. Firms are pulling deposits from peripheral count
Germany (AP) -- The central banks of the wealthiest countries, trying to prevent a debt crisis in Europe from exploding into a global panic, swept in Wednesday to shore up the world financial system by making it easier for banks to borrow American do
Wall Street enjoyed a big jump Wednesday morning, after a coordinated action by central banks around the world to provide more liquidity to the global financial system.
“I live in Asia and all I can say is I observe a meaningful slowdown in business activity recently and increasing corporate earnings that disappoint... “There’s a huge capital flight [from China], there’s no question about this.”
The Fed's latest actions in cooperating with foreign central banks to undertake liquidity swaps of dollars for foreign currencies is another reason why Congress needs enhanced power to oversee and audit the Fed.
Need a reason to explain the massive central bank intervention from China, to Japan, Switzerland, the ECB, England and all the way to the US? Forbes may have one explanation: "It appears that a big European bank got close to failure last night.
What If Patriotism Means Abolishing the Government?, Judge Napolitano - Are We Headed for an Economic 9/11 and Martial Law?, Gerald Celente - Stay with Silver, Rice, Other Real Assets, Jim Rogers
(OMGawd - One of the head cheerleaders for perpetual prosperity is setting up for more bailout) On Mad Money tonight Jim Cramer warns that Europe could easily spoil any party we’re having in the US due to the collapse in credit.
International companies are preparing contingency plans for a possible break-up of the eurozone, according to interviews with dozens of multinational executives.
The IMF bailout farce… Moody's wakes up to Europe… Euro banks can't fund the gap… Italy's soccer team to the rescue… El-Erian weighs in… Junk bonds are killing stocks… Central banks are easing…
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.
Why now? Because the increase in core yields, the failure of that German bund auction, and the increase in Spanish and Italian short-term yields, as well as the tightening of money for the banks, means it's all almost over...
For observers who fear a breakup of the euro zone might be at hand, Chancellor Merkel has a pointed rebuke: It’s never going to happen. But some banks are no longer sure, especially as the debt crisis threatened to ensnare Germany itself
S.D. Shibulal of Infosys in an exclusive interview at the Reuters India Investment Summit 2011 talks about the impact of the European crisis as well as the depreciation of the Indian Rupee and the impact that is having on the company and its clients.
To some people, the European Central Bank seems like a fire department that is letting the house burn down to teach the children not to play with matches.
The elites use dominant social themes that are not scarcity-based as well. A different kind of theme is one that leads to political unrest and authoritarian solutions that can then be used to advance either one-world government or wars.