Tag: Eurozone

• Thursday, September 29th 2011 - 06:36 UTC

  UK rejects EU sponsored financial tax: “Euro crisis not Britain’s problem”

  

  The UK has rejected a call from European Commission president Jose Manuel Barroso for a new continent-wide banking tax to help raise billions to ease the Euro zone debt crisis.

• Thursday, September 29th 2011 - 06:31 UTC

  Divided German coalition votes to strengthen Euro support fund

  

  Commodity prices fell and stocks ended a three-day rally on Wednesday on anxiety over a looming German vote to strengthen the fund set up to help the Euro zone combat its debt crisis.

• Wednesday, September 28th 2011 - 01:17 UTC

  Germany promises help to rebuild confidence in debt-stricken Greece

  

  Germany will do all it can to rebuild confidence in debt-stricken Greece as it implements reforms to meet the conditions of its international bailout package, Chancellor Angela Merkel said on Tuesday.

• Monday, September 26th 2011 - 17:10 UTC

  Spanish Conservatives poised for absolute majority in November election

  

  Spanish Prime Minister Jose Luis Rodriguez Zapatero dissolved parliament on Monday, but pledged more measures to tackle Spain's economic crisis before a November election that is expected to hand power to the conservative opposition.

• Saturday, September 24th 2011 - 22:13 UTC

  Geithner calls on the Euro zone for a ‘firewall’ against the crisis spreading

  

  US Treasury Secretary Timothy Geithner has called on European leaders to take urgent new steps to create a 'firewall' against the crisis spreading. He added that decisions on how to tackle Euro zone debt could not wait “until the crisis gets more severe”.

• Friday, September 23rd 2011 - 07:33 UTC

  Greek default would expose European banks in 300 billion Euros

  

  History's first sovereign default came in the 4th century BC, committed by 10 Greek municipalities. There was one creditor: the temple of Delos, Apollo's mythical birthplace.

• Tuesday, September 20th 2011 - 22:00 UTC

  Beijing says financial aid to Euro zone has ‘no preconditions’

  

  Beijing's plan to provide financial aid to the European Union is not contingent on Europe supporting a proposal that could protect China from trade sanctions, a Commerce Ministry spokesman said on Tuesday.

• Tuesday, September 20th 2011 - 21:33 UTC

  (Paymaster) Germany needs Parliament approval on deciding Euro zone bailouts

  

  Leading lawmakers in German Chancellor Angela Merkel's coalition have agreed a draft law on an enhanced Euro zone bailout fund to give a greater say to parliament in line with a court ruling earlier this month.

• Tuesday, September 20th 2011 - 21:27 UTC

  Euro-zone growth forecasts plummet: 1.6% this year and 1.1% in 2012

  

  The IMF cut its growth forecast for the 17-nation Euro zone by nearly half a percentage point to 1.6% in 2011 and even weaker conditions are seen for next year with growth of just 1.1%. Currently the single currency region is scarcely growing at a 0.25% annual rate.

• Monday, September 19th 2011 - 21:20 UTC

  EU and US debt crises contagion threatens developing world investor confidence

  

  The head of the World Bank on Monday said a drop in investor confidence was already feeding through to developing nations from a growing debt crisis in advanced economies and urged “cooperative action.”