Greek and Spanish leaders are advancing new austerity measures even as their countrymen protest against the budget-cutting in the streets of Athens and Madrid. After weeks of negotiation, Greece’s three-party coalition government said Thursday it has reached agreement on a $15 billion plan for more pension and salary cuts and raising the retirement age for […]
Greece, Spain Looking for More Austerity
Posted September 27th, 2012 at 10:10 am (UTC-5)
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Spain Prepares New Austerity Measures
Posted September 27th, 2012 at 5:10 am (UTC-5)
Spain is set to unveil a new series of austerity measures aimed at making it easier for the government to request help with its budget crisis, while protesters continue to voice their opposition to the cuts. The government will detail the measures Thursday along with its proposed budget for 2013. The reforms are expected to […]
Van Rompuy Sees Loss of Urgency on Euro Crisis
Posted September 24th, 2012 at 7:20 pm (UTC-5)
European Union President Herman Van Rompuy says the continent is losing momentum in trying to resolve its three-year debt crisis. Van Rompuy on Monday said European leaders must not lose the sense of urgency to tighten economic reforms and cut deficits. He said Europe is slipping into recession and officials are worried about the pace […]
Van Rompuy Sees Loss of Urgency on Euro Crisis
Posted September 24th, 2012 at 10:30 am (UTC-5)
A key European leader says the continent is losing momentum in trying to resolve its three-year governmental debt crisis. European Union President Herman Van Rompuy said Monday he sees “a tendency of losing the sense of urgency” to tighten economic reforms and cut deficits. But he stressed that “this must not happen.” Van Rompuy said […]
Greek Austerity Talks with Creditors Stall Again
Posted September 21st, 2012 at 10:40 am (UTC-5)
Greece’s negotiations with its international creditors over more austerity budget-cutting remain unresolved. Negotiators for the International Monetary Fund, the European Union and the European Central Bank are meeting again Friday with Greek officials, but then plan to leave Athens for a week. The lenders are demanding that the Greek government impose more wage and pension […]
German Court Clears Permanent Europe Rescue Fund
Posted September 12th, 2012 at 9:25 am (UTC-5)
Germany’s top court has rejected attempts to block creation of a new permanent bailout fund for the 17-nation euro currency union, giving the eurozone a new financial firewall to contain the continent’s three-year debt crisis. The Federal Constitutional Court ruled Wednesday that Germany can ratify the $644 billion European Stability Mechanism (ESM) as long as […]
German Court Clears Permanent Europe Rescue Fund
Posted September 12th, 2012 at 6:10 am (UTC-5)
Germany’s top court has rejected attempts to block a new permanent rescue fund for the eurozone, clearing the way for the country’s president to endorse the $644 billion pact. The Federal Constitutional Court ruled Wednesday that Germany can ratify the European Stability Mechanism (ESM) as long as it meets certain conditions. Those include a $244 […]
Greece Struggling to Reach Austerity Deal with Lenders
Posted September 10th, 2012 at 11:40 am (UTC-5)
Greece is struggling to reach agreement with its international lenders on a new round of austerity spending measures aimed at unlocking more bailout money for the Athens government. Greek officials have resumed talks with financial inspectors for the European Union, the European Central Bank and the International Monetary Fund about a plan to cut nearly […]
European Central Bank to Buy Government Bonds
Posted September 6th, 2012 at 3:25 pm (UTC-5)
The European Central Bank says it is going to buy the bonds of the debt-ridden countries in the euro currency union in hopes of easing their borrowing costs. The bank set no limit Thursday on the volume of the bonds it plans to buy, Europe’s latest effort to resolve the three-year debt crisis. The bank […]
European Central Bank to Buy Government Bonds
Posted September 6th, 2012 at 12:15 pm (UTC-5)
The European Central Bank says it is going to buy the bonds of the debt-ridden countries in the euro currency union in hopes of easing their borrowing costs. The bank set no limit Thursday on the volume of the bonds it plans to buy, Europe’s latest effort to resolve the three-year debt crisis. The bank […]
