Spanish Prime Minister Mariano Rajoy has welcomed a European financial lifeline of up to $125 billion to rescue his country’s failing banks. Mr. Rajoy told reporters Sunday that efforts by his center-right government had prevented a wider state bailout and that the assistance his country is receiving is different than that received by Greece, Italy […]
European Officials Say Spain Nearing Bailout Request
Posted June 8th, 2012 at 1:30 pm (UTC-5)
European officials say Spain is poised to seek billions of dollars in bailout money from other countries in the euro currency bloc to rescue its distressed banks. Spain has yet to ask for help from its European neighbors, but several officials said Friday they expect Madrid will seek a bailout when key political and financial […]
Obama Chides Congress for Ignoring Job Proposals
Posted June 8th, 2012 at 1:05 pm (UTC-5)
U.S. President Barack Obama sharply blamed Congress Friday for the sluggish growth of the American economy and said lawmakers need to approve his job-creating proposals. Mr. Obama said that job plans he unveiled last year would boost hiring in the country’s moribund construction industry and also allow many of the 450,000 local and state government […]
European Officials Say Spain Nearing Bailout Request
Posted June 8th, 2012 at 11:50 am (UTC-5)
European officials say Spain is poised to seek billions of dollars in bailout money from other countries in the euro currency bloc to rescue its distressed banks. Spain has yet to ask for help from its European neighbors, but several officials said Friday they expect Madrid will seek a bailout when key political and financial […]
European Officials Say Spain Nearing Bailout Request
Posted June 8th, 2012 at 10:35 am (UTC-5)
European officials say Spain is poised to seek billions of dollars in bailout money from other countries in the euro currency bloc to rescue its distressed banks. Spain has yet to ask for help from its European neighbors, but several officials said Friday they expect Madrid will seek a bailout when key political and financial […]
Germany’s Merkel Calls for European ‘Political Union’
Posted June 7th, 2012 at 3:25 pm (UTC-5)
German Chancellor Angela Merkel says Europe needs to move beyond its common euro currency to create a “political union” in order to resolve the continent’s governmental debt crisis. The German leader says individual governments in the 17-nation eurozone gradually need to cede powers to European control, a contentious proposition on the continent. She told German […]
Germany’s Merkel Calls for European ‘Political Union’
Posted June 7th, 2012 at 2:00 pm (UTC-5)
German Chancellor Angela Merkel says Europe needs to move beyond its common euro currency to create a “political union” in order to resolve the continent’s governmental debt crisis. The German leader says individual governments in the 17-nation eurozone gradually need to cede powers to European control, a contentious proposition on the continent. She told German […]
Europe Keeps Interest Rate Steady Amid Economic Turmoil
Posted June 6th, 2012 at 12:25 pm (UTC-5)
The European Central Bank is keeping its key interest rate unchanged, even as its leader says there is “increased downside risk” for economic growth in the euro currency bloc. The bank kept its key lending rate at a record low 1 percent Wednesday, despite some calls from European bankers and financial analysts for cutting it […]
Europe Keeps Interest Rate Steady Amid Economic Turmoil
Posted June 6th, 2012 at 10:35 am (UTC-5)
The European Central Bank is keeping its key interest rate unchanged, even as its leader says there is “increased downside risk” for economic growth in the euro currency bloc. The bank kept its key lending rate at a record low 1 percent Wednesday, despite some calls from European bankers and financial analysts for cutting it […]
Japan Finance Chief: Europe Pledges ‘Speedy’ Debt Action
Posted June 5th, 2012 at 1:35 pm (UTC-5)
Japan’s finance chief says his European counterparts have pledged to take quick action to quell the deepening debt crisis in the 17-nation euro currency union. Financial officials from the Group of Seven world-leading economies conferred in a special conference call Tuesday about the plight of debt-ridden eurozone nations. Afterwards, Japanese Finance Minister Jun Azumi told […]
