Tag: Eurozone

• Wednesday, April 28th 2010 - 03:18 UTC

  Delayed Planned Bailout Forcing Greece Closer to Technical Default

  

  Shares across the globe fell sharply after German chancellor Angela Merkel said bond investors in Greece may have to take a hit even if a bail-out is agreed. With Merkel facing increased domestic opposition to the planned bailout and with elections imminent she has been talking tough, demanding Greece pay higher interest on any money it borrows than was originally agreed.

• Wednesday, April 28th 2010 - 01:09 UTC

  Unemployment in Spain Soars to 20.05%; 4.61 Million Jobless

  

  Spain's jobless rate has risen past 20% for the first time in 13 years, according to figures made public by the National Statistics Institute (INE) on Tuesday. Unemployment rate was 20.05% in the first quarter of this year, up from 18.83% in the last quarter of 2009.

• Saturday, April 24th 2010 - 01:32 UTC

  Could the Greek Crisis Spell the End of the Euro as a Currency?

  

  If Greece was to default it would effectively spell the end of the Euro as a currency, according to Royal Bank of Scotland's (RBS) strategist and chief European economist Jacques Cailloux.

• Saturday, April 24th 2010 - 00:53 UTC

  First Tremors of Euro Seism: Greece Asks for Financial Rescue Package

  

  Greece has formally asked for the activation of an EU-IMF financial rescue package to help pull the debt-ridden economy out of its crisis. It had hoped that just the promise of EU support, agreed last month, would have been enough to reassure markets and help its recovery.