Tag: Eurozone
EurozoneEuro zone rate left unchanged; all eyes set on how to save Greece from default
The European Central Bank kept interest rates on hold on Thursday and altered its assessment of risks to the economic outlook as investors focus on the ECB possible role in helping Greece avoid default.
A majority of Germans feel Euro block would be better off without Greece
The majority of Germans feel the Euro currency bloc would be better off if debt-crippled Greece left it, a poll published in mass-selling newspaper Bild am Sonntag showed.
Euro zone unemployment climbs to highest level since 1998
Euro zone unemployment has risen to its highest level since before the Euro was introduced, according to data showed on Tuesday, a day after EU leaders promised to focus on creating millions of new jobs to try to kick start Europe's floundering economy.
EU agrees permanent rescue fund and 25 member back German budget discipline pact
European leaders agreed on a permanent rescue fund for the Euro zone on Monday and 25 out of 27 EU states backed a German-inspired pact for stricter budget discipline, but they struggled to reconcile fiscal austerity with economic growth.
Greek “negotiated haircut” may need to be extended to public sector creditors warns Lagarde
Greece's public sector creditors may need to participate in a restructuring of its debt if a haircut negotiated with private sector bondholders is not enough to make Athens' debt sustainable, IMF Managing Director Christine Lagarde said.
Greek sovereign debt following “footsteps of Argentina’s 2002 disorderly default”
Greece's sovereign debt restructuring appears to be following the footsteps of Argentina's disorderly debt default of 2002, a creditor that is participating in the negotiations warned this week.
IMF forecasts 2012 slower growth in Latam, but above the world average
Latin American growth this year should stay under the 4% estimated previously at 3.6% since the region is susceptible to the slowing down of the world’s economy and increasing risks of the financial crisis on the Euro zone, according to the IMF World Economic Outlook released Tuesday.
IMF warns Euro zone crisis is dragging down the world economy
The Euro zone debt crisis is escalating and dragging down the world economy, the International Monetary Fund said on Tuesday, as it sharply cut its outlook for global growth and called for policies to restore confidence.
IMF anticipating major storms wants to boost war chest by 600 billion dollars
The International Monetary Fund is seeking to boost its war chest by 600 billion dollars to help countries reeling from the Euro zone debt crisis, but some nations insist Europe must first do more to support its ailing members, international financial sources said on Wednesday.
S&P downgrades the European Stability Facility but willing to reconsider
Credit ratings agency Standard and Poor’s downgraded the European Financial Stability Facility (EFSF) from “AAA” to “AA+,” although it does not rule out it would increase it again if it bolsters its funds, according to a communiqué released on Monday.
