Chief eurozone negotiator Jean-Claude Juncker is strongly denying allegations that some in the EU want Greece to default on its debt and tossed out of the eurozone. Juncker said Monday the eurozone finance ministers will do everything to avoid a Greek default. He said a final decision on whether Greece will get an $11 billion […]
Juncker: EU Determined to Prevent Greek Default
Posted October 3rd, 2011 at 8:20 pm (UTC-5)
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World Markets Roiled by New Greek Default Fears
Posted October 3rd, 2011 at 1:40 pm (UTC-5)
World stock markets fell sharply Monday because of new fears that Greece might soon default on its bailout loans from last year. Hong Kong’s Hang Seng exchange dropped more than 4 percent. The London, Paris and Frankfurt markets all slid, as did U.S. stock indexes. Investors moved to sell stocks after the Athens government said […]
World Markets Roiled by New Greek Default Fears
Posted October 3rd, 2011 at 11:45 am (UTC-5)
Asian and European stock markets fell sharply Monday because of new fears that Greece might soon default on its bailout loans from last year. Hong Kong’s Hang Seng exchange dropped more than 4 percent, and the London, Paris and Frankfurt markets all plunged. U.S. markets were also down, but not by as much. Investors moved […]
World Markets Roiled by New Greek Default Fears
Posted October 3rd, 2011 at 9:35 am (UTC-5)
Asian and European stock markets fell sharply Monday because of new fears that Greece might soon default on its bailout loans from last year. Hong Kong’s Hang Seng exchange dropped more than 4 percent, and the London, Paris and Frankfurt markets all plunged. Investors moved to sell stocks after the Athens government said Sunday it […]
Greece To Miss Deficit Reduction Goal
Posted October 3rd, 2011 at 8:45 am (UTC-5)
The Greek Finance Ministry says it will miss a deficit reduction goal by nearly a full percentage point. Markets around much of the world reacted negatively to the news Monday, fearing a Greek debt default might be inevitable. Greece is struggling to prove to its lenders that it is cutting spending and raising revenue so […]
Japanese Manufacturers Report Improved Business Confidence
Posted October 3rd, 2011 at 12:20 am (UTC-5)
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A new study shows major Japanese manufacturers are more confident about business prospects than at any time since the March 11 earthquake and tsunami. The survey, released every three months by the Bank of Japan, produced a confidence index of “plus two” among the large manufacturers, compared to “minus nine” in the previous survey. A […]
Greece to Fire 30,000 Government Workers in New Budget
Posted October 2nd, 2011 at 4:25 pm (UTC-5)
The Greek Cabinet has approved a draft 2012 budget that includes a provision to eliminate 30,000 government jobs by the end of next year. Officials have not released details of the plan, including who would be laid off. The entire budget package will be sent to parliament on Monday. Also Sunday, the Finance Ministry said […]
Europe Moves Closer to Bigger Bailout Fund
Posted September 30th, 2011 at 2:00 pm (UTC-5)
Europe moved closer Friday to adopting a bigger bailout fund to assist debt-ridden countries, with Austria the latest country to approve its expansion to $593 billion. Austria became the 14th of the 17 nations that use the euro currency that need to approve the expanded fund. Some financial experts are saying the fund will need […]
US Consumer Confidence Improves
Posted September 30th, 2011 at 10:45 am (UTC-5)
U.S. consumers grew less pessimistic in late September, which could lead to improved consumer spending, a key driver of the economy. Friday’s report from the University of Michigan shows consumer sentiment improved modestly, as frustration with political wrangling in Washington faded somewhat. But the data still show Americans worried about high unemployment, a troubled housing […]
Europe Moves Closer to Bigger Bailout Fund
Posted September 30th, 2011 at 9:55 am (UTC-5)
Europe moved closer Friday to adopting a bigger bailout fund to assist debt-ridden countries, with Austria the latest country to approve its expansion to $593 billion. Austria became the 14th of the 17 nations that use the euro currency that need to approve the expanded fund before it can take effect. Austria’s approval came as […]
