Data published Thursday show business activity declined in March for the 17 nations and use the euro. Experts say it may mean Europe is headed for a recession. Markit Economics says its economic index showed business activity shrank in February and worsened slightly this month. The eurozone’s economy shrank three-tenths of a percent in the […]
Eurozone Business Activity Declines in March
Posted March 22nd, 2012 at 3:55 pm (UTC-5)
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Scotland May Vote on Independence in 2014
Posted January 11th, 2012 at 12:05 am (UTC-5)
Britain has set out the conditions under which Scotland can decide whether to sever its centuries-old constitutional ties with Britain. The British government offered with certain conditions Tuesday to remove legal hurdles so Scots can hold a referendum on independence from Britain. First Minister of Scotland Alex Salmond wants to delay the vote until late […]
Greece Warns of Euro Exit If Second Bailout Is Not Finalized
Posted January 3rd, 2012 at 1:40 pm (UTC-5)
Debt-ridden Greece is warning that it could be forced to abandon the common euro currency if it does not secure a second international bailout to avoid defaulting on its loans. Greece won tentative European approval for the $169 billion bailout in October, but now the country is engaged in new negotiations with creditors over terms […]
Eurozone Finance Chiefs Fail to Meet Bailout Fund Goal
Posted December 19th, 2011 at 4:30 pm (UTC-5)
European finance ministers have failed to raise $261 billion to help contain the continent’s governmental debt crisis. Finance chiefs from the 17 nations that use the euro agreed Monday to raise $195 billion from eurozone central banks to help the International Monetary Fund boost its European assistance. But in a conference call, the finance ministers […]
World Reacts To the Death of Kim Jong Il
Posted December 19th, 2011 at 8:35 am (UTC-5)
The news of North Korean leader Kim Jong Il’s death has drawn worldwide reaction. In Washington, U.S. President Barack Obama and Secretary of State Hillary Clinton were notified of the North Korean leader’s death. In a statement issued early Monday, the White House said it was in “close touch” with allies in South Korea and […]
World Reacts To Kim Jong Il Death
Posted December 19th, 2011 at 3:40 am (UTC-5)
The news of North Korean leader Kim Jong Il’s death has drawn worldwide reaction. In Washington, U.S. President Barack Obama and Secretary of State Hillary Clinton were notified of the North Korean leader’s death. In a statement issued early Monday, the White House said it was in “close touch” with allies in South Korea and […]
European Central Bank Chief Calls for Eurozone ‘Fiscal Compact’
Posted December 1st, 2011 at 11:00 am (UTC-5)
The new chief of the European Central Bank says it might give new assistance to the continent’s debt-ridden governments, but only if the 17-nation eurozone first adopts “a new fiscal compact” to control the spending of individual countries. Bank President Mario Draghi said Thursday that more centralized oversight of budgets was “the most important element” […]
Key Central Banks Act to Support Global Financial System; Stocks Surge
Posted November 30th, 2011 at 2:00 pm (UTC-5)
The world’s major central banks took coordinated action Wednesday to support the global financial system, sending stock markets soaring. The U.S. Federal Reserve, the European Central Bank, the Bank of England and the central banks in Japan, Canada and Switzerland said that starting next Monday they are making it a half percentage point cheaper […]
Europe Working to Ensure the Euro’s Survival
Posted November 29th, 2011 at 3:50 pm (UTC-5)
European finance ministers struggled Tuesday to resolve the continent’s debt crisis and save the euro as its common currency. The ministers, meeting in Brussels, appeared set to negotiate terms of proposals that could force the 17 countries that use the euro to cede control of their sovereign spending to a central authority. An elite group […]
EU Leaders Call for Continent’s Economic Consolidation
Posted November 16th, 2011 at 1:00 pm (UTC-5)
Key European Union officials say the continent needs to oversee the spending of individual countries to ensure the survival of the euro currency and resolve the burgeoning debt crisis. Both European Commission President Jose Manuel Barroso and EU President Herman Van Rompuy called Wednesday for further integration of Europe’s economic affairs. Barroso told the European […]
