The European Central Bank could act this week to buy the bonds of debt-plagued governments in the 17-nation euro currency zone to ease their borrowing costs. Bank president Mario Draghi told European lawmakers Monday that buying government securities that have to be paid back in at least three years does not violate any European Union […]
Bernanke Argues For Stronger Economic Stimulus
Posted August 31st, 2012 at 5:40 pm (UTC-5)
The head of the U.S. central bank argued for more efforts to stimulate the economy on Friday, but did not say when or how such action might be taken. U.S. Federal Reserve Chairman Ben Bernanke said unemployment is a “grave concern” and economic growth is too slow. Recent comments from Federal Reserve officials show that […]
Bernanke Argues For Stronger Economic Stimulus
Posted August 31st, 2012 at 10:55 am (UTC-5)
The head of the U.S. central bank argued for more efforts to stimulate the economy on Friday, but did not say when or how such action might be taken. U.S. Federal Reserve Chairman Ben Bernanke said current unemployment rates are too high and economic growth is too slow. Recent comments from Federal Reserve officials show […]
Spain Falling Deeper into Recession
Posted August 28th, 2012 at 12:40 pm (UTC-5)
Spain says it is falling deeper into recession. Madrid said Tuesday that the country’s economy fell four-tenths of one percent in the April-to-June period as the government’s austerity budget measures took hold. The Spanish economy contracted three-tenths of a percent in the first quarter of the year. With nearly 25 percent of Spaniards out of […]
Fed May Do More To Boost US Economy
Posted August 22nd, 2012 at 4:55 pm (UTC-5)
Top officials of the U.S. central bank signaled Wednesday that they may launch a new effort to boost the economy if growth does not improve. U.S. Federal Reserve officials indicated that bolstering growth might include a program intended to lower long-term interest rates with a complex program of buying bonds. The hope is that lower […]
Greek PM Launches Bid to Secure Better Bailout Terms
Posted August 22nd, 2012 at 12:25 pm (UTC-5)
Launching a diplomatic bid aimed at securing better economic-bailout terms, Greek Prime Minister Antonis Samaras has met with Eurogroup President Jean-Claude Juncker in Athens. Later this week, Mr. Samaras will meet in Berlin with German Chancellor Angela Merkel and in Paris with French President Francois Hollande. Before meeting Juncker, Mr. Samaras told the German newspaper […]
Greek PM Says Country Not Seeking More Money
Posted August 22nd, 2012 at 6:05 am (UTC-5)
Greek Prime Minister Antonis Samaras is seeking to reassure the country’s international creditors, saying Greece is not looking for any additional money to help its recession-plagued economy. Mr. Samaras is hosting talks Wednesday with Eurogroup President Jean-Claude Juncker, and will travel for meetings later in the week with German Chancellor Angela Merkel and French President […]
Spanish Banks’ Bad Debts Surge
Posted August 17th, 2012 at 9:45 am (UTC-5)
The bad loans held by Spanish banks are surging, hitting a record high in June. The Bank of Spain said Friday that the country’s banks now hold more than $200 billion worth of loans at risk of not being paid back. That is more than 9 percent of their total loan portfolio, the largest share […]
US Reports Give Mixed Economic Signals
Posted August 16th, 2012 at 10:10 am (UTC-5)
Two new U.S. economic reports are giving mixed signals about the American labor market and the country’s weak housing construction industry. The government reported Thursday that initial claims for unemployment assistance increased by 2,000 last week to 366,000. However, the four-week average dipped below 364,000, the lowest figure since March and the second lowest in […]
Europe Economy Shrinks in 2nd Quarter
Posted August 14th, 2012 at 10:25 am (UTC-5)
Europe is edging closer to a recession, with its economy shrinking from April to June, after a stagnant first quarter of the year. The European Union said Tuesday that the economies of both the 17-nation euro currency union and the broader bloc of 27 EU nations contracted by two-tenths of a percent in the second […]
