Tag: European Central Bank

• Wednesday, November 16th 2011 - 14:36 UTC

  ECB moves in to stop sell-off of EU bonds; Obama calls for stronger political will

  

  The European Central Bank stepped in on Wednesday to stem an accelerating sell-off of Euro zone government bonds, traders said, after the United States called for more decisive action to halt a spreading sovereign debt crisis.

• Thursday, November 3rd 2011 - 14:47 UTC

  ECB under new president Draghi lowers interest rate 25 points to 1.25%

  

  The European Central Bank cut its main interest rate by 25 basis points to 1.25% as the Euro zone's worsening debt crisis outweighed the concern over persistently high inflation.

• Wednesday, October 19th 2011 - 23:12 UTC

  Plan to tackle Euro debt crisis stalled; Sarkozy flies to Berlin to meet Merkel

  

  Plans to tackle the Euro zone debt crisis have stalled with Paris and Berlin at odds over how to increase the firepower of the region's bailout fund, French President Nicolas Sarkozy said on Wednesday afternoon.

• Thursday, October 6th 2011 - 17:41 UTC

  ECB takes the first step of an anticipated major effort to bolster EU banks

  

  The European Central Bank is offering new emergency loans to banks to help steady the Euro zone's financial crisis. The new funding, worth about 40bn Euros would enable banks to draw down one-year loans.

• Saturday, October 1st 2011 - 05:30 UTC

  Banks and bonds of Italy and Spain need to be protected, warns Soros

  

  Policymakers have lost control of the economic crisis and financial markets are forcing the world into a depression, George Soros said on Friday, urging Europe to create a common Treasury, recapitalize its banks and protect vulnerable states.

• Thursday, September 29th 2011 - 06:28 UTC

  EC desperate call on the European Central bank to maintain financial stability

  

  European Commission President Jose Manuel Barroso urged the European Central Bank to do everything in its power to maintain financial stability in the Euro zone, saying the EU faced the biggest challenge in its 50-year history.

• Friday, September 23rd 2011 - 22:29 UTC

  Greece’s ‘orderly default’ with 50% haircut for bondholders round the corner

  

  Greek Finance Minister Evangelos Venizelos was quoted by two newspapers as saying an orderly default with a 50% haircut for bondholders was one of three possible scenarios for resolving the heavily indebted euro zone nation's fiscal woes.

• 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.

• Thursday, September 15th 2011 - 18:39 UTC

  Major Central banks come to the rescue of Euro commercial banks

  

  Major central banks around the world will cooperate to offer three-month US dollar loans to commercial banks in order to prevent money markets from freezing up because of Europe's sovereign debt crisis.

• 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.