Tag: Euro

• Monday, September 12th 2011 - 20:09 UTC

  Central bankers admit growth slowdown but no sign of world recession

  

  Economic growth is slowing but there is no sign of a worldwide recession, according to global central bankers who said they had no plans for concerted action.

• Friday, September 9th 2011 - 01:03 UTC

  Trichet anticipates EU flat growth next 18 months; falls short of ‘new recession’

  

  The Euro fell to a two-month low against the dollar on Thursday after the European Central Bank signalled a pause in its interest-rate tightening cycle that began just five months ago.

• Tuesday, September 6th 2011 - 20:08 UTC

  Swiss central bank puts a cap to the Franc to combat massive overvaluation

  

  The Swiss central bank announced Tuesday a ceiling on the currency by setting an exchange rate minimum against the Euro. The Swiss National Bank (SNB) boldest move states that the exchange rate between the Swiss franc and the Euro must not drop below 1.20 Euros. And if it does, the Swiss bank is prepared to enforce the minimum by selling francs and buying up euros “in unlimited quantities.”

• Wednesday, August 31st 2011 - 21:24 UTC

  Merkel bets she can convince ruling coalition sceptics to further support the Euro

  

  German Chancellor Angela Merkel's cabinet approved Wednesday new powers for the Euro zone's bailout fund, kicking off a month-long battle to convince sceptics in her conservative camp to back efforts to contain the bloc's crisis.

• Tuesday, August 23rd 2011 - 06:36 UTC

  Gold glitters on fear to an all time high of 1.910 dollars on Tuesday

  

  Spot gold soared to an all-time high above 1,910 dollars on Tuesday, scoring a record top for a fourth consecutive session, as persistent worries about global economic growth burnished bullion's safe-haven appeal.

• Tuesday, August 2nd 2011 - 21:29 UTC

  Emergency bells ringing in Europe: Italy and Spain in the Euro danger zone

  

  Financial market pressure on Italy intensified on Tuesday, sucking Europe's second biggest debtor nation deeper into the Euro area danger zone and prompting emergency consultations in Rome and among European capitals.

• Monday, July 4th 2011 - 18:00 UTC

  OECD warns the Euro Central Bank about ‘aggressive’ hike of interest rates

  

  The European Central Bank should not hike interest rates aggressively and wait for stronger Euro zone growth before increasing rates after this week's expected move, OECD head Angel Gurria said on Monday.

• Monday, June 27th 2011 - 15:00 UTC

  Soros: EU on verge of economic collapse; some countries will have to exit the Euro

  

  US/UK Hungarian born billionaire investor George Soros says a country will eventually exit the Euro zone and urged policymakers on Sunday to come up with a “plan B” that could rescue the European Union from looming economic collapse.

• Wednesday, May 25th 2011 - 07:00 UTC

  BRIC countries slam Europe’s ‘obsolete grip’ on the IMF top job

  

  Top emerging economies joined forces to slam Europe's “obsolete” grip on the IMF top job, even as France's finance minister appeared to strengthen her lead in the race to replace Dominique Strauss-Kahn.

• Tuesday, May 24th 2011 - 00:54 UTC

  Euro troubles and slower growth in China and EU hit Latin American markets

  

  Latin American stocks fell to an eight-month low on Monday triggered by concerns that the Euro zone debt problem was deepening and signs of slower growth in China. The region’s largest market Brazil’s Bovespa ended at its lowest since July 2010