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Japan Finance Chief: Europe Pledges ‘Speedy’ Debt Action

Posted June 5th, 2012 at 11:50 am (UTC-5)
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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 […]

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G-7 Officials Discuss Eurozone Crisis

Posted June 5th, 2012 at 10:35 am (UTC-5)
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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., […]

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Clinton Pledges Support for Georgia Amidst Russia Presence

Posted June 5th, 2012 at 6:50 am (UTC-5)
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U.S. Secretary of State Hillary Clinton has renewed calls for Russia to withdraw its forces from two breakaway republics of Georgia. Clinton made the call Tuesday when she met with Georgian leaders Tuesday in the Black Sea resort of Batumi to discuss security and political issues. She said the United States remains steadfast in its […]

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G-7 Officials to Discuss Eurozone Crisis

Posted June 5th, 2012 at 2:10 am (UTC-5)
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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 […]

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G-7 Officials to Discuss Eurozone Crisis

Posted June 5th, 2012 at 12:50 am (UTC-5)
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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 […]

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Spain Presses for Bank Aid, But Germany Resists

Posted June 4th, 2012 at 2:20 pm (UTC-5)
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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 […]

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Eurozone Jobless Rate Hits Record 11 Percent

Posted June 1st, 2012 at 9:35 am (UTC-5)
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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 […]

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Europe’s Chief Banker Says Eurozone ‘Unsustainable’

Posted May 31st, 2012 at 2:05 pm (UTC-5)
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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 […]

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Europe’s Chief Banker Says Eurozone ‘Unsustainable’

Posted May 31st, 2012 at 12:30 pm (UTC-5)
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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 […]

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Europe Calls for Banking Union as Spain Struggles

Posted May 30th, 2012 at 10:55 am (UTC-5)
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The European Commission is calling for direct assistance for troubled banks in the euro currency bloc as Spain struggles to finance the takeover of one of its largest banks. The commission — the executive arm of the European Union — said Wednesday the 17-nation eurozone should consider creating a “banking union” that would share the […]

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