Euro zone leaders intend to scale up their emergency fund, the European Financial Stability Facility, to around 1.0 trillion euros, EU sources said on Wednesday.
WASHINGTON (AP) -- The euro is plunging against other currencies after European leaders and banks appeared deadlocked over how much of Greece's debt should be forgiven.
Now that Europe has actually tried to do some calculations, which it is apparent that up until last week, they hadn't done, they are coming to the same conclusion.
The European Union is doomed to fail because the divide between the northern and southern countries is just too great, former Fed Chairman Alan Greenspan told CNBC in a recent interview. Alan Greenspan Getty Images Alan Greenspan "At the outset
(Reuters) - Brazil on Tuesday rejected the idea of buying European bonds to help ease the euro zone's debt crisis, casting doubt on a plan for major emerging market economies to offer fresh funds for the continent's rescue.
Greece sneezed, and now most of Europe has a cold. The European debt crisis has already spread like a virus from Greece to Ireland and Portugal, and other countries are now at risk
It appears a few people at least were not too happy with the call for the formation of the United Empire of Europe, at Humboldt University where the speech was delivered. ...Booed Off By German Students
No other chart illustrates the vulnerability of European banks than the following. We use the simple common equity to total asset ratio, which excludes the risk weighting of assets and tiering of capital.
Germany said on Monday that a summit of EU leaders next Sunday would not produce a miracle cure for the euro zone's sovereign debt crisis, a warning that pushed down markets after a rise in the past week on expectations of a breakthrough.
Britain's economic prospects are deteriorating so swiftly that the Bank of England on Wednesday signaled it was on the verge of pumping in more money to support growth, potentially as soon as October.
"It is an open secret that numerous European banks would not survive having to revalue sovereign debt held on the banking book at market levels." Deutsche Bank CEO Josef Ackerman
The test of a new lining that can take the heat of fusion could be crucial for a planned reactor in France.
The eurozone crisis could wreck the European Union, top EU officials warned on Wednesday as the leaders of Germany and France held talks with Greece to avoid a default and widespread chaos.
Christine Lagarde: So policymakers should stand ready, as needed, to take more action to support the recovery—including through unconventional measures.
Former German chancellor Gerhard Schroeder on Sunday called for the creation of a "United States of Europe," saying the bloc needed a common government to avoid future economic crises.
At one point, I put it to Bob bluntly, "What the hell are these guys up to?" Bob responded, "Maybe, they want to make things worse so that they can respond with even more controls?"
The cost of a weak country leaving the Euro is significant. Consequences include sovereign default, corporate default, collapse of the banking system and collapse of international trade.
Has anyone really wondered what would happen if a truly independent entity would review the books? What would be their findings?
Why should Finland provide any more money to Greece at all? Greece has proved that it will lie, cheat and steal to get what it wants from the rest of the Euro zone, and it's not alone.
It’s not really the end of the world, but to read some of the analysis and data over the past week, it’s hard not to wonder if it’s not the beginning of the Endgame at the very least.
Although the speech is focused on about long-term growth, Trichet briefly mentions "non-standard monetary policy" and his willingness to use it if markets deteriorate.
All major currencies are lower against gold today with the Japanese downgrade and concerns about global growth taking their toll on Asian stock markets. While European indices have eked out gains, some selling of peripheral European debt...
I maintain the next move by the Fed is to massively open up the dollar swap lines with European central banks. I don’t think Bernanke wants to announce this significant step at Jackson Hole. It is an EU issue and the Fed can’t take the lead...
The tragedy that's unfolding is shed in an even clearer light when we expand the stats series to include the longer term, in this case 5 years.
He must have known that there was soon to be a very big sucking noise from Europe. One that would require the USA to lend Europe some very big bucks.
Stocks finished near session lows in choppy trading Wednesday, with the Dow and S&P wiping out all of the previous session's gains led by financials, as investors continued to cautiously monitor developments in the European banks.
The US debt downgrade by S&P is a big story, but the turmoil surrounding the financial stability of Italy is potentially even bigger! The story getting the most press is of course the US debt downgrade by S&P late Friday. While this has the pot
Just when you thought the news couldn't get any worse! After the S&P downgrade of United States debt from AAA to AA+, Germany says that Italy is too big for the European Financial Stability Facility (EFSF) to bail out! Go to the bunkers for th
Why doesn't Bernanke just go for it. QE3 = buy PIIGS bond. Some stealth form of this will likley occur, probably using the IMF as a cover.
I do not normally reprint rumors at all, as they tend to be very destructive, but this is a special case because the risks, if the rumor is correct, are exceedingly high. I'm sure you thought the 500 point loss on the DOW today was horrifying...