Lucas Papademos will be sworn in Friday as the new prime minister of Greece, following nearly a week of intense talks over the formation of a coalition government that hopes to rescue the country from a deep financial crisis. Greece’s feuding political leaders Thursday named Mr. Papademos, a former vice president of the European Central […]
Greece to Swear in New Transitional Government
Posted November 11th, 2011 at 1:40 am (UTC-5)
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New Greek PM Says Country at ‘Crucial Crossroads’
Posted November 10th, 2011 at 7:10 pm (UTC-5)
Greece’s newly named caretaker prime minister, Lucas Papademos, says his country is at a “crucial crossroads” and it will not be easy to fix the huge problems facing the economy. Greece’s feuding political leaders Thursday named Mr. Papademos, a former vice president of the European Central Bank, to be the country’s interim leader until a […]
New Greek PM Says Country Is at ‘Crucial Crossroads’
Posted November 10th, 2011 at 3:20 pm (UTC-5)
Greece’s newly named caretaker prime minister, Lucas Papademos, says his country is at a “crucial crossroads” and it won’t be easy to fix the huge problems facing the Greek economy. Greece’s feuding political leaders on Thursday named Mr. Papademos, a former vice president of the European Central Bank, to be the country’s interim leader until […]
US Municipal Government Files Country’s Biggest Bankruptcy
Posted November 10th, 2011 at 1:50 pm (UTC-5)
A local government in the U.S. has filed the country’s biggest municipal bankruptcy, unable to pay back a $3 billion debt to build a sewer system. The Jefferson County government in Alabama attempted for three years to negotiate a repayment plan for the debt, with its creditors agreeing to cut the amount of money the […]
New Greek PM Says Country Is at ‘Crucial Crossroads’
Posted November 10th, 2011 at 10:50 am (UTC-5)
Greece’s newly named caretaker prime minister, Lucas Papademos, says his country is at a “crucial crossroads” and it won’t be easy to fix the huge problems facing the Greek economy. Greece’s feuding political leaders on Thursday named Mr. Papademos, a former vice president of the European Central Bank, to be the country’s interim leader until […]
Greece Agrees on Former Bank Official as PM
Posted November 10th, 2011 at 9:00 am (UTC-5)
Greece has named a former top official of the European Central Bank as interim prime minister after days of intense talks about a coalition government the country hopes will help it get out of a deep financial crisis. Lucas Papademos, the former vice president of the ECB, will head an interim “unity” government that hopes […]
European Stocks Rally; Possible Breakthroughs in Greece, Italy
Posted November 10th, 2011 at 7:40 am (UTC-5)
European financial markets rebounded in early trading on Thursday after signs of possible breakthroughs in the long-delayed formation of new governments in Italy and Greece. Italian Prime Minister Silvio Berlusconi, who has promised to step down after parliament passes tough austerity measures, appeared Thursday to endorse the man widely seen as his replacement, leading economist […]
Asian Markets Close Lower on Fears of Europe Debt Crisis
Posted November 10th, 2011 at 4:20 am (UTC-5)
Asian financial markets closed sharply lower on Thursday, responding to fears that Italy’s worsening financial crisis could trigger a European recession. Japan’s Nikkei average fell nearly 3 percent and Hong Kong’s Hang Seng dropped nearly 5 percent following news that Italy’s main borrowing rate had soared past 7 percent on Wednesday. That surpasses the rate […]
US, European Economic Weakness Blamed for Disappointing Asian Figures
Posted November 10th, 2011 at 3:25 am (UTC-5)
Sagging demand in the United States and Europe is being blamed for a wave of disappointing economic figures from across East Asia Thursday. China reported a sharp drop in exports, while Japan reported a sharper-than-expected drop in core machinery orders — a leading indicator of corporate spending. Australia, meanwhile, said foreign tourist arrivals are down […]
Asian Markets Close Lower on Fears of Europe Debt Crisis
Posted November 10th, 2011 at 3:20 am (UTC-5)
Asian financial markets closed sharply lower on Thursday, responding to fears that Italy’s worsening financial crisis could trigger a European recession. Japan’s Nikkei average fell nearly 3 percent and Hong Kong’s Hang Seng dropped nearly 5 percent following news that Italy’s main borrowing rate had soared past 7 percent on Wednesday. That surpasses the rate […]
