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European leaders threw a critical financial lifeline to struggling Spain and Italy and agreed to a roadmap to restructure the euro currency union at a Brussels summit that continues through Friday.
The future of humanity depends on whether “too big to fail” sectors of the economy are taken under public control, creating a step-up socialist model, believes Peter Mertens, Belgian politician and author, the head of the Workers’ Party of Belgium.
If a referendum were to be held in Germany tomorrow on membership of the euro, those in favour of retaining the common currency would have a very narrow majority over those wanting to bring back the Deutschmark, according to a new opinion poll.
The report — with suggestions such as allowing a central European authority to override national budgets, as well as the issuing of common debt — outlined what amounted to talking points for a much-anticipated European Union summit starting here Thur
The election results from Greece are in and the pro-bailout forces have won, but just barely. It is being projected that the pro-bailout New Democracy party will have about 130 seats in the 300 seat parliament, and Pasok (another pro-bailout party)
A powerful European supervisor should be charged with overseeing the region's banks, and national budgets should be pre-approved by the rest of the bloc before euro-zone states take on responsibility for each others' finances....
Spain formally requested euro zone rescue loans to recapitalise its debt-laden banks on Monday as the euro and shares fell on investor scepticism about this week's EU summit.
Inspection tour of Greece delayed with PM Antonis Samaras and Finance Minister Vassilis Rapanos in hospital
In the five sessions through Tuesday, the Greek stock market has rallied 25%.
MNI News has an interesting flash headline this morning: GREECE FISCAL CONSOLIDATION "COMPLETELY DERAILED": EU SOURCE
The Islamic Republic’s chief nuclear negotiator Saeed Jalili said his country is prepared to fully cooperate with the International Atomic Energy Agency if the sanctions currently placed on Iran are lifted.
The euro strengthened against the dollar after a European Union official said a politically acceptable path will be sought for renegotiating Greece’s bailout conditions.
The European Union is expected to hit the capital markets in the next few weeks with a plan to raise EUR2-2.5bn by the end of July, banking sources close to Triple A rated issuer said on Monday.
Angela Merkel will have to “invent a way” to kick Greece out of the eurozone, a leading Greek politician has claimed, as all political parties promise to renegotiate the country’s €130bn (£105bn) bail-out agreement after tomorrow’s pivotal elections.
Germany signals shift on €2.3 trillion redemption fund for Europe ...
Inquiring minds are poring over the ESM Treaty to see how it is supposed to work in theory, assuming it will be ratified by counties with the required 90% of EMU voting rights.
Germany warned it could not save the eurozone alone and borrowing costs left Spain on the ropes as Italy and France held crisis talks aimed at tackling the debt crisis on Thursday.
What can save Greece? Max Keiser and Hugo Price argue that a return to a silver drachma is one solution along with the firing of central bankers who continue to make the financial crisis worse.
I've been on the ground here in Athens for about 24 hours, and at this point I have two surprise observations related to the situation Greece finds itself in.
I believe, no,” is how Italian Prime Minister Mario Monti answered the question if Italy would seek a bailout..
Central banks from major economies stand ready to take steps to stabilize financial markets by providing liquidity and preventing a credit squeeze if the outcome of Greek elections on Sunday causes tumultuous trading, G20 officials told Reuters.
It's no exaggeration to say that Alexis Tsipras, the head of the left-wing SYRIZA party in Greece, is the most feared man right now in all of Europe.
After about 20 hours of door-to-door traveling from New York, I've finally arrived at my hotel in Athens, which is about two blocks away from Syntagma Square, the square in the center of the city where you see all the protesting.
Everyone knows that Europe is in the middle of a major debt crisis. The most immediate problems include Greece and Spain. Other countries that have received bailouts include Portugal and Ireland.
There are consequences to investing any level of confidence in a financial system underpinned by debt and the creation of paper currency.
Last week we reported that European hedge fund managers were liquidating their European assets to reduce exposure. Now it appears that the lend-happy Chinese will be doing the same.
Greeks pulled their cash out of the banks and stocked up with food ahead of a cliffhanger election on Sunday that many citizens fear will result in the country being forced out of the euro.
While France is preoccupied with the legislative elections next weekend, Germany and Austria plunge into intense public soul searching about the euro, its meaning, its relevancy, the sheer and endlessly growing expense of maintaining it.
European finance officials have discussed as a worst-case scenario limiting the size of withdrawals from ATM machines, imposing border checks and introducing capital controls in at least Greece should Athens decide to leave the euro.
Italy closed down 2.8 percent, Spain fell 0.5 percent, and yields soared in Spain and Italy as any enthusiasm vanished about a Spanish bank bailout.
