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 […]
Japan Finance Chief: Europe Pledges ‘Speedy’ Debt Action
Posted June 5th, 2012 at 11:50 am (UTC-5)
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G-7 Officials Discuss Eurozone Crisis
Posted June 5th, 2012 at 10:35 am (UTC-5)
Finance chiefs from the world’s seven leading industrialized nations held a special conference call Tuesday to discuss the deepening debt crisis in the 17-nation euro currency union. The financial leaders from the Group of Seven nations conferred amid new evidence of the difficulties faced by the eurozone’s debt-ridden countries. The finance chiefs from the U.S., […]
G-7 Officials to Discuss Eurozone Crisis
Posted June 5th, 2012 at 2:10 am (UTC-5)
Finance chiefs from the world’s seven leading industrialized nations will hold a special conference call Tuesday to discuss the worsening eurozone debt crisis. Canadian Finance Minister Jim Flaherty told reporters in Toronto Monday that the Group of Seven, or G-7, nations are concerned about debt-ridden banks within the 17-nation euro currency bloc, and the fact […]
G-7 Officials to Discuss Eurozone Crisis
Posted June 5th, 2012 at 12:50 am (UTC-5)
Finance chiefs from the world’s seven leading industrialized nations will hold a special conference call Tuesday to discuss the worsening eurozone debt crisis. Canadian Finance Minister Jim Flaherty told reporters in Toronto Monday that the Group of Seven, or G-7, nations are concerned about debt-ridden banks within the 17-nation euro currency bloc, and the fact […]
Spain Presses for Bank Aid, But Germany Resists
Posted June 4th, 2012 at 2:20 pm (UTC-5)
Spain is pressing for direct European financial aid to rescue its debt-ridden banks, but Germany is holding steadfast against such assistance without imposing new spending conditions on the Madrid government. With financing uncertain for Spain’s $24 billion takeover of the Bankia financial institution, Spanish Prime Minister Mariano Rajoy is attempting to win approval for funding […]
Eurozone Jobless Rate Hits Record 11 Percent
Posted June 1st, 2012 at 9:35 am (UTC-5)
The unemployment rate in Europe’s 17-nation euro currency bloc has risen to a record 11 percent. The European Union said Friday that more than 17 million people were out of work in the eurozone as government austerity measures continue to take their toll on new hiring. The EU revised its March jobless rate up a […]
Europe’s Chief Banker Says Eurozone ‘Unsustainable’
Posted May 31st, 2012 at 2:05 pm (UTC-5)
Europe’s chief banker says the current operation of the 17-nation euro currency bloc is “unsustainable” and that it must create a new vision of how it will manage its affairs in the coming years. The head of the European Central Bank, Mario Draghi, said the financial institution has done what it could to combat the […]
Europe’s Chief Banker Says Eurozone ‘Unsustainable’
Posted May 31st, 2012 at 12:30 pm (UTC-5)
Europe’s chief banker says the current operation of the 17-nation euro currency bloc is “unsustainable” and that it must create a new vision of how it will manage its affairs in the coming years. The head of the European Central Bank, Mario Draghi, said the financial institution has done what it could to combat the […]
US Jobless Claims Rise; Growth Slows
Posted May 31st, 2012 at 9:55 am (UTC-5)
The number of people signing up for unemployment aid in the United States rose by 10,000 last week, evidence that the U.S. job market remains sluggish. Thursday’s report from the Labor Department says 383,000 people filed first-time claims. Continued problems in the job market are one result of slow U.S. economic growth, which hit a […]
WTO Chief Warns Against Asian Protectionism
Posted May 31st, 2012 at 8:00 am (UTC-5)
The head of the World Trade Organization says growing Asian protectionism is the biggest threat to sustained economic growth in the region. WTO Director-General Pascal Lamy told the opening session of the World Economic Forum on East Asia Thursday that deeper trade integration among Asian nations is key to making the region more resilient to […]
