The landslide victory of Spanish Prime Minister-elect Mariano in Sunday’s parliamentary election has failed to quiet Spain’s economic turmoil. A major Madrid stock index fell more than 3 percent Monday — and the cost of Spanish government bonds edged closer to 7 percent interest. That is the same rate that Greek, Irish, and Portuguese bonds […]
Financial Markets Unimpressed With Rajoy’s Sweeping Spanish Win
Posted November 21st, 2011 at 7:45 pm (UTC-5)
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US Debt Squabble Hurts Stocks
Posted November 21st, 2011 at 5:25 pm (UTC-5)
The possible failure of negotiations aimed at slashing the massive U.S. debt discouraged investors Monday. By the close of U.S. trading, stocks were off around 2 percent. European indexes were down more than 3 percent, while Asian stocks lost less. Another key U.S. economic issue is the high unemployment rate. The jobless rate for veterans […]
US Debt Squabble Hurts Stocks
Posted November 21st, 2011 at 1:25 pm (UTC-5)
The possible failure of negotiations aimed at slashing the massive U.S. debt discouraged investors Monday. In mid-day U.S. trading, stocks were off more than 2 percent. European indexes were down more than 3 percent at the close, while Asian stocks lost less. Another key U.S. economic issue is the high unemployment rate. The jobless rate […]
US Debt Squabble Hurts Stocks
Posted November 21st, 2011 at 12:05 pm (UTC-5)
The possible failure of negotiations aimed at slashing the massive U.S. debt discouraged investors Monday. In early U.S. trading, stocks were off around 2 percent. European shares were hit a bit harder, and Asian stocks lost somewhat less. News from the troubled U.S. housing sector was more positive. The National Association of Realtors says home […]
Greece Says Its Deficit will Decrease, Even as Economic Woes Continue
Posted November 18th, 2011 at 5:25 pm (UTC-5)
Greece is predicting that its budget deficit will decrease sharply next year, even as its economy continues to contract and unemployment increases. The interim Greek government unveiled its 2012 austerity budget to parliament Friday. It says the spending plan must be adopted soon for the country to secure an $11-billion installment from last year’s international […]
Greece Says Its Deficit will Decrease, Even as Economic Woes Continue
Posted November 18th, 2011 at 11:20 am (UTC-5)
Greece is predicting that its budget deficit will decrease sharply next year, even as its economy continues to contract and unemployment increases. The interim Greek government unveiled its 2012 austerity budget to Parliament Friday. It says the spending plan must be adopted soon for the country to secure an $11 billion installment from last year’s […]
Greece’s Interim Government to Submit Austerity Budget to Parliament
Posted November 18th, 2011 at 7:20 am (UTC-5)
Greece’s interim government is expected to submit its 2012 austerity budget to parliament for approval on Friday. The screening of the new budget is getting underway as auditors from the European Union and International Monetary Fund arrive in Athens for talks on rescuing Greece from possible bankruptcy. New Prime Minister Lucas Papademos will need lawmakers’ […]
Spain, France Face Higher Borrowing Costs
Posted November 17th, 2011 at 8:25 pm (UTC-5)
The European debt crisis touched Spain and France Thursday, with both countries now forced to pay more to finance their governments. Spain, Europe’s fourth biggest economy, sold nearly $5 billion in government bonds Thursday at a big 7 percent interest rate. That is the same rate that Greek, Irish, and Portuguese bonds hit before those […]
High Debt Burden Worries Lenders
Posted November 17th, 2011 at 5:00 pm (UTC-5)
The concerns about Europe’s economy grow out of concern about the burden of debt run up by some nations. If you divide the billions of dollars owed to lenders by millions of citizens in Greece, the debt works out to about $41,000 per person. Italy, the United States, and Gernany also have a significant amount […]
Europe’s Debt Crisis: Spain, France Face Higher Borrowing Costs
Posted November 17th, 2011 at 3:25 pm (UTC-5)
The long reach of the European debt crisis touched Spain and France Thursday, with both countries forced to pay more to finance their governments. Spain, Europe’s fourth biggest economy, paid its highest borrowing costs since 1997 to sell nearly $5 billion in bonds. Madrid was forced to pay almost 7 percent interest, the point at […]
