Tag: Eurozone

• Friday, February 24th 2012 - 07:43 UTC

  EU confirms Euro zone heading for its second recession in three years

  

  The Euro zone's economy is heading into its second recession in just three years, while the wider European Union will stagnate, the EU executive said, warning that the currency area has yet to break its vicious cycle of debt.

• Thursday, February 16th 2012 - 20:12 UTC

  Moody warning on credit ratings of 17 global banks and 114 European financial institutions

  

  Moody's warned Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the Euro zone government debt crisis is spreading throughout the global financial system.

• Tuesday, February 14th 2012 - 22:19 UTC

  Euro debt crisis: Moody warns France and Britain’s triple-A rating could be next

  

  Rating agency Moody's announced on Tuesday it had downgraded six European nations including Italy, Spain and Portugal, citing growing risks from Europe's debt crisis, and warned it may cut the triple-A ratings of France, Britain and Austria.

• Monday, February 13th 2012 - 07:11 UTC

  The Euro edges up as Greece votes austerity plan: Germany not convinced

  

  The Euro edged up on Monday after Greece's parliament approved an austerity bill that put the country a step closer to securing much-needed funds, though market players worried about more hurdles before lenders seal a bailout deal.

• Thursday, February 9th 2012 - 20:30 UTC

  Euro zone rate left unchanged; all eyes set on how to save Greece from default

  

  The European Central Bank kept interest rates on hold on Thursday and altered its assessment of risks to the economic outlook as investors focus on the ECB possible role in helping Greece avoid default.

• Monday, February 6th 2012 - 06:46 UTC

  A majority of Germans feel Euro block would be better off without Greece

  

  The majority of Germans feel the Euro currency bloc would be better off if debt-crippled Greece left it, a poll published in mass-selling newspaper Bild am Sonntag showed.

• Tuesday, January 31st 2012 - 17:35 UTC

  Euro zone unemployment climbs to highest level since 1998

  

  Euro zone unemployment has risen to its highest level since before the Euro was introduced, according to data showed on Tuesday, a day after EU leaders promised to focus on creating millions of new jobs to try to kick start Europe's floundering economy.

• Tuesday, January 31st 2012 - 05:27 UTC

  EU agrees permanent rescue fund and 25 member back German budget discipline pact

  

  European leaders agreed on a permanent rescue fund for the Euro zone on Monday and 25 out of 27 EU states backed a German-inspired pact for stricter budget discipline, but they struggled to reconcile fiscal austerity with economic growth.

• Wednesday, January 25th 2012 - 20:44 UTC

  Greek “negotiated haircut” may need to be extended to public sector creditors warns Lagarde

  

  Greece's public sector creditors may need to participate in a restructuring of its debt if a haircut negotiated with private sector bondholders is not enough to make Athens' debt sustainable, IMF Managing Director Christine Lagarde said.

• Wednesday, January 25th 2012 - 20:35 UTC

  Greek sovereign debt following “footsteps of Argentina’s 2002 disorderly default”

  

  Greece's sovereign debt restructuring appears to be following the footsteps of Argentina's disorderly debt default of 2002, a creditor that is participating in the negotiations warned this week.