Tag: Euro

Euro
Monday, March 18th 2013 - 07:26 UTC

Cyprus bailout conditions trigger fears of Euro debt crisis escalation and run on banks

Cypriots lining up to try and recover their funds and deposits

Asian markets have dipped after Cyprus bailout plans triggered fears of an escalation of the Euro zone debt crisis. The EU and IMF want all bank customers to pay a levy in return for a bailout worth 10bn Euros and although the plan is yet to be finalised, the news of the deal caused a rush to the cash machines in Cyprus as people tried to withdraw money.

Friday, February 15th 2013 - 05:29 UTC

G-20 Finance ministers to discuss effects of monetary stimuli and currency values

Russia Finance minister Siluanov and host of the meeting: no set targets for exchange rates of their currencies.

The finance ministers of the G20 group of nations are meeting in Moscow amid concerns that major trading powers may be heading towards a currency war. Japan's monetary stance has seen a big decline in the Yen, while the Euro has risen against a basket of currencies.

Thursday, February 7th 2013 - 19:22 UTC

ECB leaves rates unchanged, but appreciation of the Euro turns into controversy

”We want to see if the appreciation is sustained and if it alters our assessment of the risks to price stability”, said Draghi

European Central Bank President Mario Draghi admitted on Thursday policy makers are concerned that the Euro strength will hamper their efforts to pull the economy out of recession and although the exchange rate is not a policy target, he confirmed “it is important for growth and price stability”.

Tuesday, February 5th 2013 - 17:03 UTC

France insists Euro is too strong; fears it could undermine exports

“Europe is leaving the Euro vulnerable to irrational movements” President Hollande told the European parliament in Strasbourg

French President François Hollande called on the Euro zone on Tuesday to develop an exchange rate policy to help protect the common currency from “irrational movements”. His comments came amid growing concern that the Euro, now trading around 1.35 to the US dollar, is too strong and could undermine the country’s exporters and hence wider economic growth.

Monday, September 10th 2012 - 01:35 UTC

Soros calls on Germany “to lead or leave the Euro”; suggests Euro zone target of 5% growth

Financier Soros: “Either alternative would be better than to persist on the current course.”

International financier George Soros has called for Germany to “lead or leave the euro” days before a crucial ruling on the Euro zone's bailout fund by Germany's constitutional court. Mr Soros argued that the euro zone should target 5% economic growth.

Friday, August 3rd 2012 - 08:01 UTC

ECB disappoints but keeps markets’ expectations of bold actions alive

Maybe ‘non-standard’ measures in the coming weeks hinted Mario Dragui

Asian shares and the Euro eased on Friday as the European Central Bank, as happened with the Federal Reserve on Wednesday, disappointed markets looking for an imminent move to deal with the Euro zone debt crisis.

Wednesday, July 25th 2012 - 07:04 UTC

Germany and France express support for Spain but markets demand more than words

De Guindos from Berlin flies to Paris to meet Moscovici (Photo: Europa Press)

German Finance Minister Wolfgang Schaeuble and his counterpart from Madrid said Spain’s borrowing costs don’t reflect the strength of its economy as they pledged to work toward deeper integration to fight the debt crisis.

Tuesday, July 24th 2012 - 06:26 UTC

Euro down to lowest in 11 years as Spain crumbles and investors flee

Spain and Italy banned all short-selling of stocks

The Euro weakened to the lowest in more than 11 years against the Yen as investors sought safer assets amid mounting concern that European leaders are failing to control the region’s debt crisis.

Monday, July 23rd 2012 - 09:20 UTC

ECB chief says “Euro is irreversible”; praises will to create supranational bodies

Draghi. Euro zone blow-up only in the imagination of some analysts

European Central Bank President Mario Draghi said that the Euro was not in danger despite some analysts' worse case scenarios for a break-up and said that greater financial, budgetary and political union among Euro zone countries was inevitable.

Wednesday, July 11th 2012 - 03:03 UTC

Roubini says ‘perfect storm’ is closer; forecasts Finland will leave the Euro before Greece

Mr. Doom argues mentioned four ingredients for the “perfect storm”

Nouriel Roubini, or “Mr. Doom” who predicted earlier this year that a “perfect storm” scenario would play out in the global economy, has now said that his prediction is coming true, pointing to slow growth currently hitting the United States, Europe and China.

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