Tag: Eurozone

• Tuesday, August 2nd 2011 - 21:29 UTC

  Emergency bells ringing in Europe: Italy and Spain in the Euro danger zone

  

  Financial market pressure on Italy intensified on Tuesday, sucking Europe's second biggest debtor nation deeper into the Euro area danger zone and prompting emergency consultations in Rome and among European capitals.

• Thursday, July 28th 2011 - 20:03 UTC

  EU population reached 502.5 million; Ireland, UK with highest birth rates

  

  The population of the European Union reached 502.5 million on 1 January 2011 according to data provided by the statistical office of the European Union. This is one million and a half more than a year ago.

• Friday, July 22nd 2011 - 00:25 UTC

  Paris-Berlin soften rescue terms admit “selective default” and announce Euro IMF

  

  Euro zone leaders agreed at an emergency summit on Thursday to give their financial rescue fund sweeping new powers to help Greece overcome its debt crisis and prevent market instability from spreading through the region.

• Friday, July 15th 2011 - 05:54 UTC

  Italian parliament does its homework and approves sweeping austerity budget

  

  Italy's upper house of parliament has agreed to a sweeping austerity budget in a move intended to allay concerns over a possible bailout. Meanwhile, Greece must come to terms with another ratings downgrade.

• Thursday, July 14th 2011 - 07:11 UTC

  Private sector involvement fundamental for Greek bailout, says IMF

  

  The IMF said private sector involvement was fundamental to a Greek bailout and urged Athens to move faster on fiscal and structural reforms to avoid debt default.

• Tuesday, July 12th 2011 - 01:47 UTC

  Euro confidence crisis, Italian chapter, sends world markets tumbling

  

  Global stocks and the Euro sank as fears that Italy could become the latest country caught up in the Euro-zone debt crisis caused investors to sell risky assets and snap up safe-haven US Treasury debt, pushing the 10-year note's yield below 3%.

• Thursday, July 7th 2011 - 18:24 UTC

  Former banker praises Uruguay’s handling of “Argentine debacle” in 2001/2002

  

  European policymakers grappling with problems in Greece, Portugal, Ireland and Spain should follow the path set by the Uruguayan government a decade ago, dealmaker William Rhodes told CNBC on Thursday.

• Thursday, July 7th 2011 - 16:20 UTC

  Euro-zone decides to contain inflation and hikes interest rates to 1.5%

  

  The European Central Bank (ECB) decided on Thursday to raise interest rates to 1.5% from 1.25% in an attempt to cool inflation in the 17-nation Euro zone. ECB president Jean-Claude Trichet said that inflation, now 2.7%, was likely to remain “clearly” above the ECB 2% target over the coming months.

• Monday, July 4th 2011 - 18:05 UTC

  Redefining ‘default’ so that private banks can roll over Greek debt

  

  Ratings agency Standard and Poor's warned on Monday that efforts to bailout Greece involving private banks could amount to a debt default even as Brussels sees progress being made in resolving the crisis.

• Monday, July 4th 2011 - 04:48 UTC

  Greece warned aid package means significant losses of “sovereignty” and jobs

  

  Euro zone finance ministers have approved a 12 billion euro instalment of Greece's bailout, but signalled that the nation must expect significant losses of sovereignty and jobs.