Tag: Eurozone debt crisis

Eurozone debt crisis
Thursday, July 11th 2013 - 06:43 UTC

IMF: US pull-back from stimulus could trigger reversal in capital flows and hurt developing countries

World global growth was trimmed for the fifth time by IMF

The International Monetary Fund trimmed its global growth forecast for the fifth time since early last year due to a slowdown in emerging economies and the woes in recession-struck Europe. In its mid-year health check of the world economy, IMF also warned global growth could slow further if the pull-back from massive monetary stimulus in the United States triggers reversals in capital flows and crimps growth in developing countries.

Sunday, March 10th 2013 - 11:29 UTC

Fitch downgrades Italy’s debt rating; economy forecasted to contract 1.8% this year

PM Mario Monti’ technocrat government did not deliver all it was expected

Ratings agency Fitch added to Italy's mounting problems this week by cutting its credit rating due to the political uncertainty after last week's election, deep recession and rising debt. Fitch lowered Italy's sovereign rating by one notch to BBB plus, with a negative outlook, raising the risk that its next ratings change will be a further downgrade.

Wednesday, February 27th 2013 - 01:14 UTC

Italy fears knock world stock markets; US recovers on Bernanke’ defence of stimuli

Berlusconi and Grillo campaigning against austerity managed 55% of the vote

World stock markets and southern European government bonds sank on Tuesday on fears that political stalemate in Italy would leave its economic reforms in tatters and reignite the Euro zone's broader debt crisis.

Saturday, December 15th 2012 - 06:15 UTC

“Support linked to competitiveness” Merkel tells the EU members

The Germany chancellor once again draws the line (Photo: Reuters)

European leaders agreed on Friday to press on with further steps to tackle their debt crisis but German Chancellor Angela Merkel threw out a proposal to boost risk-sharing with a fund to help Euro zone states in trouble.

Saturday, November 17th 2012 - 23:09 UTC

IMF questions plan to restructure Greek debt: “pls reality, not wishful thinking”

Christine Lagarde cuts short Asian visit to face European leaders

An agreement among Greece's international creditors on reducing its large debt pile should be “rooted in reality and not in wishful thinking,” the head of the International Monetary Fund said ahead of a tense meeting with European leaders.

Wednesday, October 31st 2012 - 20:51 UTC

India/Brazil with highest government debt/GDP ratios among leading emerging economies

The report indicates that G7 countries average debt/GDP ratio has soared from less than 80% to over 110% since 2000

India and Brazil have the highest government debt ratios at almost 70% of GDP among top ten emerging market economies, according to a report by Deutsche Bank.

Wednesday, September 26th 2012 - 01:08 UTC

Protestors clash with riot police as Spain discusses 2013 budget and more austerity

Barricades and 1.500 riot police protected Parliament in the heart of Madrid

Protesters clashed with police in Spain's capital as the government prepares a new round of unpopular austerity measures for the 2013 budget that will be announced on Thursday.

Friday, September 7th 2012 - 06:04 UTC

IMF showed strong support for ECB new framework in support of the Euro

Managing Director said IMF stands ready to cooperate

Managing Director Christine Lagarde of the International Monetary Fund (IMF) showed strong support of the European Central Bank's new framework for intervention in the Euro zone debt crisis, deeming Thursday’s action 'an important step toward strengthening stability and growth.'

Friday, September 7th 2012 - 05:41 UTC

ECB bond-buying scheme announcement boosts world markets

Italy and Spain relieved after ECB president Mario Dragui words

Asian shares looked set for their biggest daily gain in nearly five weeks on Friday after the European Central Bank outlined its bond-buying scheme to help calm the Euro zone's debt crisis, while firm US data fed speculation of a strong jobs report later in the day.

Wednesday, August 29th 2012 - 02:22 UTC

Spain to the mercy of markets and with little signs of recovery

PM Rajoy met with European Council president Van Rompuy (L)

Spain’s recession worsened in the second quarter as the government’s austerity push to reduce the Euro area’s third-biggest budget deficit and a slump in consumer spending offset growth in exports.

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