Tag: Eurozone

• Wednesday, April 25th 2012 - 06:51 UTC

  Holland enters in Euro risk zone as political parties clash over further austerity

  

  Holland one of the few show cases of Europe with all economic indicators the envy of its fellow EU members has stalled in a political controversy while at the other end Greece sees no end to suffering in its fifth year of recession.

• Monday, April 23rd 2012 - 09:40 UTC

  IMF governing panel calls for more action from Euro zone to prevent recession

  

  Europe was pressed by other world powers to take strong measures to fix its debt-heavy economy and restore growth to a level that would lift the cloud hanging over the fragile global recovery.

• Saturday, April 21st 2012 - 07:07 UTC

  Emerging powers committed to IMF but insist on less European predominance

  

  Major emerging powers stood ready on Friday to pledge money to bolster the International Monetary Fund's crisis-fighting war chest, though Brazil was holding out for promises that their voting power at the global lender would increase.

• Sunday, April 1st 2012 - 08:24 UTC

  Euro-zone builds firewall but calls for bigger global financial emergency fund

  

  European governments called for a bigger global financial emergency fund after engineering a firewall to fight the region’s debt crisis that tops the symbolic 1 trillion dollars mark.

• Sunday, March 25th 2012 - 10:32 UTC

  Italy fears about Spain; Madrid says: ‘total nonsense to make comparisons with Greece”

  

  Italian Prime Minister Mario Monti expressed concern about Spain's public finances and said it would not take much to reignite the Euro zone debt crisis and revive the risk of it spreading to Italy.

• Saturday, March 24th 2012 - 08:35 UTC

  Chinese manufacturing slumps for fifth month; Euro zone shows signs of recession

  

  Chinese manufacturing slumped for a fifth month in March and the Euro zone economy is showing new signs of wilting, according to surveys revealed this week that pointed to weakening global demand.

• Friday, March 9th 2012 - 03:17 UTC

  Euro zone growth forecasted to shrink by 0.5% this year, says Dragui

  

  The European Central Bank downed its Euro zone growth forecast after holding interest rates at record lows on Thursday, and said things would have been much worse without its dramatic action to pump a trillion Euros into the banking system.

• Thursday, March 1st 2012 - 04:29 UTC

  Bernanke praises Euro-zone measures, but “critical fiscal and financial challenges remain”

  

  Testifying Wednesday before the US House Committee on Financial Services, Federal Reserve Chairman Ben Bernanke said that 'critical fiscal and financial challenges remain for the Euro zone.'

• Wednesday, February 29th 2012 - 07:11 UTC

  Greece slashes minimum wage and pensions to help rescue the Euro

  

  Greece approved bitter new austerity measures on Tuesday, slashing the minimum wage and chopping pensions as Athens began implementing measures demanded by international lenders in return for a 130 billion Euro rescue package.

• Monday, February 27th 2012 - 04:47 UTC

  G-20 wants second 2 trillion dollars global Euro-zone rescue package by next April

  

  The world's leading economies worked to line up a deal in April on a second global rescue package worth nearly 2 trillion dollars to stop the Euro-zone sovereign debt crisis from spreading and putting at risk the tentative recovery.