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European Central Bank to Buy Government Bonds

Posted September 6th, 2012 at 10:40 am (UTC-5)
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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 […]

Tags: , Posted in Economy

French, Italian Leaders Call For Economic Growth To Stabilize Eurozone

Posted September 4th, 2012 at 6:30 pm (UTC-5)
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French President Francois Hollande and Italian Prime Minister Mario Monti have called for urgent efforts to restore economic growth and create jobs in Europe as part of a plan to stabilize the 17-nation euro currency union. After the meeting in Rome, Mr. Hollande told reporters that economic growth will allow eurozone countries to comply with […]

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European Central Bank May Buy Bonds

Posted September 4th, 2012 at 11:20 am (UTC-5)
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The European Central Bank could act this week to buy the bonds of debt-plagued governments in the 17-nation euro currency zone to ease their borrowing costs. Bank president Mario Draghi told European lawmakers Monday that buying government securities that have to be paid back in at least three years does not violate any European Union […]

Tags: , Posted in Economy

Moody’s Lowers Ratings Outlook For EU

Posted September 3rd, 2012 at 7:30 pm (UTC-5)
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Moody’s Investors Service on Monday lowered its ratings outlook for the European Union from stable to negative, as the bloc struggles to deal with the eurozone debt crisis. The credit rating agency said the negative outlook on the EU’s long-term rating reflects the negative outlook for Germany, France, Britain and Netherlands, which together account for […]

Tags: , Posted in Europe

Spain Falling Deeper into Recession

Posted August 28th, 2012 at 12:40 pm (UTC-5)
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Spain says it is falling deeper into recession. Madrid said Tuesday that the country’s economy fell four-tenths of one percent in the April-to-June period as the government’s austerity budget measures took hold. The Spanish economy contracted three-tenths of a percent in the first quarter of the year. With nearly 25 percent of Spaniards out of […]

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France: Greece Must Stay in Eurozone

Posted August 25th, 2012 at 12:20 pm (UTC-5)
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French President Francois Hollande says Greece must stay in the European currency union and he has encouraged Greek leaders to make sure economic reforms they enact can be borne by the Greek people. Mr. Hollande met with Greek Prime Minister Antonis Samaras in Paris Saturday to talk about the country’s bailout plan. The French president […]

Tags: , Posted in East Asia Pacific

Greek PM Seeks More Time to Make Reforms, Cuts

Posted August 24th, 2012 at 10:05 am (UTC-5)
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Greek Prime Minister Antonis Samaras has told German Chancellor Angela Merkel his country needs more time to carry out economic reforms. He spoke Friday after meeting with Ms. Merkel in Berlin. Ms. Merkel said she is convinced that authorities in Athens are doing everything they can to solve the problems Greece is facing. She also […]

Tags: , , , Posted in Europe

Greek PM Seeks More Time to Make Reforms, Cuts

Posted August 24th, 2012 at 12:05 am (UTC-5)
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Greek Prime Minister Antonis Samaras is expected to ask for more time to make key reforms and spending cuts to keep his recession-plagued country in the eurozone when he meets Friday with German Chancellor Angela Merkel in Berlin. Mr. Samaras told the German newspaper Bild earlier this week that Greece is not seeking more money […]

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Spanish Banks’ Bad Debts Surge

Posted August 17th, 2012 at 9:45 am (UTC-5)
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The bad loans held by Spanish banks are surging, hitting a record high in June. The Bank of Spain said Friday that the country’s banks now hold more than $200 billion worth of loans at risk of not being paid back. That is more than 9 percent of their total loan portfolio, the largest share […]

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Europe Economy Shrinks in 2nd Quarter

Posted August 14th, 2012 at 10:25 am (UTC-5)
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Europe is edging closer to a recession, with its economy shrinking from April to June, after a stagnant first quarter of the year. The European Union said Tuesday that the economies of both the 17-nation euro currency union and the broader bloc of 27 EU nations contracted by two-tenths of a percent in the second […]

Tags: , , , Posted in Europe

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