Tag: Euro zone
Euro zoneEuro-zone tells members to prepare contingency plans for a possible Greek exit
Euro zone officials have told members of the currency area to prepare contingency plans in case Greece quits the bloc, an eventuality which Germany's central bank said would be testing but “manageable”.
Merkollande admit differences but call for unity and growth in the Euro zone
Despite their differences over how to drag Europe out of its current economic swamp, German and French leaders pledged to join efforts in reinvigorating growth in the continent during their first meeting on Tuesday.
“Fasten your seatbelts; it’s going to be a bumpy year!”
By Nouriel Roubini (*) - The outlook for the global economy in 2012 is clear, but it isn’t pretty: recession in Europe, anemic growth at best in the United States, and a sharp slowdown in China and in most emerging-market economies.
IMF chief tells developing countries to prepare for three possible storms
IMF Managing director Christine Lagarde urged on Monday developing countries to shore up their defences, especially foreign exchange reserves, against a possible European recession next year.
The Guardian reports Germany and France agreed on 2 trillion Euros rescued fund
The Guardian newspaper reported on Tuesday that France and Germany had agreed to boost a euro zone financial rescue fund to two trillion Euros pushing US stocks and the Euro higher despite doubts about whether there was such an agreement.
German parliament approves Euro bail out fund to cut Greek contagion
A large majority in the German parliament has approved expanded powers for the EU main bailout fund. Chancellor Angela Merkel received stronger than expected support in the Bundestag despite some in her coalition vowing to oppose the bill.
Roubini suggests Greece default on its debts and follow Argentina’s 2001 example
The economist who predicted the credit crunch and financial crisis has recommended that Greece leave the Euro, default on its debts and return to the drachma.
Greece and Spain react to the Euro-pact of painful economic reforms
As the Euro crisis debt crisis expands, Greek Prime Minister George Papandreou appealed to parliament to support a new cabinet appointed to push through painful economic reforms, saying a debt default would be catastrophic for the country and the European Union.
Lagarde too committed to the Euro to be nominated IMF chief, says top economist
Finance Minister Christine Lagarde is the wrong choice to head the International Monetary Fund as it gets deeper into the Euro-zone rescue, a former IMF chief economist said this week.
Euro troubles and slower growth in China and EU hit Latin American markets
Latin American stocks fell to an eight-month low on Monday triggered by concerns that the Euro zone debt problem was deepening and signs of slower growth in China. The region’s largest market Brazil’s Bovespa ended at its lowest since July 2010
