Tag: Euro zone

• Thursday, September 20th 2012 - 23:34 UTC

  Merkel honours her mentor and Euro architect, Kohl to help discipline the party

  

  Angela Merkel is seeking help from her estranged, former mentor Helmut Kohl, architect of the Euro, to restore voter faith in the European project before next year's election.

• Wednesday, May 23rd 2012 - 18:38 UTC

  Euro-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”.

• Wednesday, May 16th 2012 - 04:01 UTC

  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.

• Saturday, December 31st 2011 - 18:28 UTC

  “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.

• Tuesday, December 20th 2011 - 01:07 UTC

  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.

• Wednesday, October 19th 2011 - 06:58 UTC

  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.

• Thursday, September 29th 2011 - 17:16 UTC

  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.

• Wednesday, September 21st 2011 - 02:10 UTC

  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.

• Sunday, June 19th 2011 - 22:46 UTC

  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.

• Friday, May 27th 2011 - 18:37 UTC

  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.