Tag: Eurozone

• Saturday, September 17th 2011 - 02:28 UTC

  Geithner’s proposal to scale up rescue package gets cool response from EU

  

  US Treasury Secretary Timothy Geithner drew a cool response from EU policymakers when he urged them to leverage their bailout fund to better tackle the debt crisis and to start speaking with one voice.

• Friday, September 16th 2011 - 06:51 UTC

  Merkel’s NEIN to Euro-bonds: “collectivizing debts” doesn’t solve the problem

  

  German Chancellor Angela Merkel bluntly rejected Euro zone bonds as a solution to the currency area's sovereign debt crisis, saying that “collectivizing debts” would not solve the problem.

• Thursday, September 15th 2011 - 19:02 UTC

  IMF calls for joint political leadership to break vicious circle of weak growth

  

  The head of the International Monetary Fund today urged advanced countries to take bold, coordinated action to break a vicious cycle of weak growth and high debt that threatens the global economy and has been worsened by dysfunctional politics.

• Wednesday, September 14th 2011 - 03:11 UTC

  Developed countries fail to cut unemployment; Euro zone rate stands at 10%

  

  Developed countries are failing to cut unemployment, according to figures released this week by the Organization for Economic Cooperation and Development (OECD). July’s figures show unemployment at 8.2% for the 34-country group – unchanged for five consecutive months.The Euro zone is faring even worse, with unemployment sticking at 10%.

• Monday, September 12th 2011 - 02:01 UTC

  German ‘pragmatic’ top official for ECB board to help tackle Euro crisis

  

  Germany has proposed Deputy Finance minister Joerg Asmussen to replace Juergen Stark on the European Central Bank's executive board, Finance Minister Wolfgang Schaeuble said.

• Saturday, September 10th 2011 - 06:22 UTC

  IMF chief calls on economic leaders to act with “conviction and urgency”

  

  Policymakers in advanced economies should use all available tools to boost growth, International Monetary Fund Managing Director Christine Lagarde said on Friday, calling for bold action to weather a “dangerous new phase” of recovery.

• Saturday, September 10th 2011 - 06:12 UTC

  US says Germany must give “unequivocal” financial support to weaker Euro states

  

  United States pressed Europe's strongest economies on Friday to give “unequivocal” financial support to weaker Euro zone states to overcome a debt crisis that threatens the world economy.

• Friday, September 9th 2011 - 15:49 UTC

  ECB sovereign bond purchasing policy splits ECB; Germans quit in protest

  

  The European Central Bank in Frankfurt confirmed in a Friday afternoon statement that its chief economist and executive board member Jürgen Stark had resigned “due to personal reasons.”

• Wednesday, September 7th 2011 - 10:43 UTC

  US and European shares continue to slide waiting for strong political decisions

  

  US and European shares have both fallen as concerns continue about the high level of Euro zone debt, as well as the risk of a return to recession on both sides of the Atlantic.

• Tuesday, September 6th 2011 - 06:28 UTC

  European markets plunge on renewed Euro fears and lack of confidence

  

  World shares fell Tuesday morning and the Euro came under pressure following a huge sell-off in Europe as renewed Euro zone debt woes added to already weak confidence in the global economy.