The head of the International Monetary Fund says the global economy is improving after a difficult time, but remains fragile. In a Tuesday speech to journalists in Washington, Christine Lagarde warned against complacency or insularity. She said Europe’s economy is showing some encouraging signs, but remains under strain, while the United States is seeing improved […]
IMF: Global Economy Improves, but Remains Fragile
Posted April 3rd, 2012 at 12:10 pm (UTC-5)
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In Europe, Unemployment Up, Manufacturing Down
Posted April 2nd, 2012 at 9:30 am (UTC-5)
New reports in the euro currency bloc show that Europe’s economic fortunes are declining, with unemployment up and manufacturing down. The European Union reported Monday that the jobless rate in the 17-nation eurozone edged higher in February to 10.8 percent. The new figure was the highest point since the currency was introduced in 1999. The […]
Eurozone Boosts Bailout Fund to More Than $1 Trillion
Posted March 30th, 2012 at 8:20 pm (UTC-5)
Europe’s euro currency bloc has sharply boosted its financial rescue fund to more than $1 trillion, its latest effort to protect itself and the world economy against defaults by debt-ridden governments. The finance ministers from the 17 nations that use the euro agreed Friday in Copenhagen to add another $500 billion over the coming year […]
Eurozone Boosts Bailout Fund to More Than $1 Trillion
Posted March 30th, 2012 at 12:25 pm (UTC-5)
Europe’s euro currency bloc has sharply boosted its financial rescue fund to more than $1 trillion, its latest effort to protect itself and the world economy against defaults by debt-ridden governments. The finance ministers from the 17 nations that use the euro agreed Friday in Copenhagen to add another $500 billion over the coming year […]
Eurozone Boosts Bailout Fund to More Than $1 Trillion
Posted March 30th, 2012 at 10:15 am (UTC-5)
Europe’s euro currency bloc has sharply boosted its financial rescue fund to more than $1 trillion, its latest effort to protect itself and the world economy against defaults by debt-ridden governments. The finance ministers from the 17 nations that use the euro agreed Friday in Copenhagen to add another $500 billion over the coming year […]
US Jobless Benefit Claims Near Four-Year Low
Posted March 29th, 2012 at 1:45 pm (UTC-5)
The number of unemployed U.S. workers seeking jobless assistance fell last week to the lowest level in nearly four years, a new sign the labor market is improving for the world’s largest economy. The government’s Labor Department reported Thursday that 359,000 jobless workers made new claims for financial aid, down 5,000 from the week before. […]
US Jobless Benefit Claims Near Four-Year Low
Posted March 29th, 2012 at 12:25 pm (UTC-5)
The number of unemployed U.S. workers seeking jobless assistance fell last week to the lowest level in nearly four years, a new sign the labor market is improving for the world’s largest economy. The government’s Labor Department reported Thursday that 359,000 jobless workers made new claims for financial aid, down 5,000 from the week before. […]
Italy’s Monti Blames Germany, France for Debt Crisis
Posted March 28th, 2012 at 10:05 am (UTC-5)
Italian Prime Minister Mario Monti says he thinks the European governmental debt crisis is “almost over,” but on Wednesday blamed German and French actions a decade ago for causing it. The Italian leader, speaking to investors in Tokyo, said Germany and France “were loose” in 2003 in controlling their budget deficits and debt just four […]
OECD Says Eurozone Needs Much Bigger Bailout Fund
Posted March 27th, 2012 at 10:45 am (UTC-5)
The Organization for Economic Cooperation and Development says the euro currency bloc needs to create a much bigger rescue fund for future financial emergencies, even larger than economic powerhouse Germany is willing to accept. German Chancellor Angela Merkel said earlier this week that she would assent to creation of a $930 billion bailout fund. That […]
Germany’s Merkel Assents to Bigger Bailout Fund
Posted March 26th, 2012 at 11:45 am (UTC-5)
Germany is backing down from its resistance to increasing the size of the eurozone’s bailout fund to rescue debt-ridden countries. The 17-nation currency bloc has created a new $666 billion rescue fund that is set to take effect in July. But some financial analysts have said that account would not be large enough to cover […]
