Key European leaders are calling for much tighter central control of spending by the 17 countries that use the euro in the latest effort to resolve the continent’s unrelenting debt crisis. Four officials produced the plan Tuesday — European Council President Herman Van Rompuy, European Commission President Jose Manuel Barroso, Eurogroup President Jean-Claude Juncker and […]
Key European Leaders Call for Tighter Financial Control
Posted June 26th, 2012 at 9:45 am (UTC-5)
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Four Eurozone Finance Ministers to Meet in Paris
Posted June 26th, 2012 at 5:55 am (UTC-5)
The finance ministers of France, Germany, Italy and Spain will discuss the ongoing eurozone sovereign debt crisis Tuesday in Paris. The meeting is taking place on the eve of joint talks between French President Francois Hollande and German Chancellor Angela Merkel aimed at reaching some sort of accord before a crucial European Union summit begins […]
ADB Begins “Re-engagement” with Burma
Posted June 26th, 2012 at 12:10 am (UTC-5)
The Asian Development Bank says it will begin re-engaging with Burma following reforms undertaken in the Southeast Asian country in the past year. The bank, which has not had operations in Burma since 1988, says a senior official will visit the country Tuesday to gain a “first-hand understanding” of its goals and priorities. The visit […]
Spain, Cyprus Seek Bailouts for Their Ailing Banks
Posted June 25th, 2012 at 6:35 pm (UTC-5)
Spain and Cyprus — one of the euro currency bloc’s biggest economies and one of its smallest — both sought eurozone bailouts Monday for their financially troubled banks. Spain asked for up to a $125 billion rescue for banks left holding bad real estate loans. Foreign Minister Jose Manuel Margallo said details of the bailout […]
Spain, Cyprus Seek Bailouts for Their Ailing Banks
Posted June 25th, 2012 at 6:11 pm (UTC-5)
Spain and Cyprus — one of the euro currency bloc’s biggest economies and one of its smallest — both sought eurozone bailouts Monday for their financially troubled banks. Spain asked for up to a $125 billion rescue for banks left holding bad real estate loans. Foreign Minister Jose Manuel Margallo said details of the bailout […]
IMF Gives ‘Promising’ Economic Outlook for DRC
Posted June 25th, 2012 at 4:50 pm (UTC-5)
The International Monetary Fund is giving what it calls a “promising” economic outlook for the Democratic Republic of Congo. The head of a just-completed IMF mission to Congo, Robert York, projected Monday that the country’s economy will expand 7 percent this year, with inflation in the single digits. He also predicted a drop in the […]
Spain, Cyprus Seek Bailouts for Their Ailing Banks
Posted June 25th, 2012 at 2:05 pm (UTC-5)
Spain and Cyprus — one of the euro currency bloc’s biggest economies and one of its smallest — both sought eurozone bailouts Monday for their financially troubled banks. The twin bids in Madrid and Nicosia for outside assistance kicked off a week of uncertainty in the 17-nation currency union as the continent’s leaders head to […]
Spain, Cyprus Seek Bailouts for Their Ailing Banks
Posted June 25th, 2012 at 1:35 pm (UTC-5)
Spain and Cyprus — one of the euro currency bloc’s biggest economies and one of its smallest — both sought eurozone bailouts Monday for their financially troubled banks. The twin bids in Madrid and Nicosia for outside assistance kicked off a week of uncertainty in the 17-nation currency union as the continent’s leaders head to […]
US New Home Sales Advance
Posted June 25th, 2012 at 12:20 pm (UTC-5)
The demand for newly built homes in the U.S. is growing, a signal that the moribund housing industry may be emerging from the depths of its downturn over the last several years. The government said Monday that new home sales in May reached an annual pace of 369,000, more than a 7 percent jump over […]
Spain, Cyprus Looking for Outside Aid for Ailing Banks
Posted June 25th, 2012 at 10:05 am (UTC-5)
Spain — one of the euro currency bloc’s biggest economies — formally sought a bailout for its financially troubled banking system Monday. Meanwhile, Cyprus — one of the eurozone’s smallest countries — is also looking for help for its distressed banks. The twin bids in Madrid and Nicosia for outside assistance for their ailing banks […]
