Tag: Eurozone debt crisis
Eurozone debt crisisFitch downgrades Italy’s debt rating; economy forecasted to contract 1.8% this year
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.
Italy fears knock world stock markets; US recovers on Bernanke’ defence of stimuli
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.
“Support linked to competitiveness” Merkel tells the EU members
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.
IMF questions plan to restructure Greek debt: “pls reality, not wishful thinking”
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.
India/Brazil with highest government debt/GDP ratios among leading emerging economies
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.
Protestors clash with riot police as Spain discusses 2013 budget and more austerity
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.
IMF showed strong support for ECB new framework in support of the Euro
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.'
ECB bond-buying scheme announcement boosts world markets
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.
Spain to the mercy of markets and with little signs of recovery
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.
ECB to the rescue of Spain and Italy and avoid collapse of Euro zone
European Central Bank President Mario Draghi pledged on Thursday to do whatever was necessary to protect the Euro zone from collapse, including acting to lower unreasonably high government borrowing costs.
