Tag: Eurozone

• Friday, December 16th 2011 - 06:35 UTC

  IMF warns no economy in the world will be immune to the crisis unfolding

  

  The world economic outlook is “quite gloomy” and will require action by all countries, starting with those in Europe, to head off an escalating crisis that carries risks of a global depression, the head of the International Monetary Fund said on Thursday.

• Friday, December 16th 2011 - 06:23 UTC

  French PM from Brazil admits new “jolts” can be expected in the Euro zone

  

  French Prime Minister Francois Fillon said his country is likely to face new “jolts” from the Euro zone debt crisis amid rumors it could lose its triple-A credit rating.

• Tuesday, December 13th 2011 - 21:00 UTC

  Advanced economies unemployment reaches 8.3%; Spain worst case with 22.8%

  

  Unemployment rates remain stubbornly high in the world's most advanced economies according to data released Tuesday by the Organization for Economic Cooperation and Development.

• Tuesday, December 13th 2011 - 06:14 UTC

  Euro zone deal had to be supported by the ECB in its first test

  

  European summit deal to strengthen budget discipline in the Euro zone failed to restore financial market confidence on Monday, forcing the European Central Bank to step in again gingerly.

• Monday, December 12th 2011 - 04:56 UTC

  German Finance minister confident EU agreement will solve Euro debt crisis

  

  German Finance Minister Wolfgang Schaeuble said agreements reached at an EU summit this week will solve the Euro zone's debt crisis and that Germany needs a strong Europe.

• Friday, December 9th 2011 - 07:12 UTC

  Euro rescue deal limited to 17-EU countries and with a March deadline

  

  Attempts to rescue the Euro will focus on a deal among the 17 nations that use the single currency, French President Nicolas Sarkozy said early Friday.

• Friday, December 9th 2011 - 07:02 UTC

  European Central bank cuts rate to record low 1% to fight recession and deflation

  

  The European Central Bank cut interest rates by a quarter of a point Thursday to counter the twin threats of recession and deflation in the Euro zone, and is expected to unveil fresh measures to help banks hurt by the bloc's debt crisis.

• Wednesday, December 7th 2011 - 01:57 UTC

  Obama sends Geithner in support of the ‘Merkozy” Euro rescue plan

  

  US Treasury Secretary Timothy Geithner threw his weight on Tuesday behind a Franco-German plan to tackle the Euro zone's sovereign debt crisis and said the European Central Bank had to play a major role in any solution.

• Monday, December 5th 2011 - 20:24 UTC

  “Mercozy” Euro ‘fiscal control’ plan to be announced Wednesday

  

  French President Nicolas Sarkozy and German Chancellor Angela Merkel met in Paris on Monday to align their positions on centralizing control of Euro zone budgets to stem a debt crisis that threatens Europe's currency union.

• Monday, December 5th 2011 - 04:11 UTC

  Rajoy will outline his austerity plan before EU Conservative summit

  

  Incoming Conservative Prime Minister Mariano Rajoy called on all Spaniards to work together to overcome the debt crisis and promised a new economic policy to deal with unemployment that is more than double the European Union average.