Euro Crisis

Global economic data released yesterday and this morning seems  to confirm Europe is inching ever-closer to the financial abyss. The European Central bank cut its predicted growth rate for next year from one per cent to  just 0.6 per cent yesterday, whilst June’s UK trade deficit was confirmed as the largest since records began, £4.3 bn. Trade […]

Global stocks rose to a three-month high Tuesday, following the ECB’s indication it may start buying government bonds again to east pressure on Spain and Italy. As of this morning at least, leading indices and the euro continued to hold gains. The collapse of Standard Chartered’s share price has been cited as the cause of stopping markets from making […]

The White House has stated that Spain faces “difficult challenges” following a discussion between President Obama with Spanish Prime Minister Mariano Rajoy. European markets have responded positively and the euro close to a five-year high. President Obama and the Spanish Prime Minister’s talk follows earlier discussions with French President Francois Hollande and Prime Minister Mario […]

Italian resentment toward Germany is growing, putting the eurozone, and the European Union, at risk of a catastropic break up, Italian prime minister Mario Monti has claimed. Monti told Der Spiegel magazine tensions “bear the traits of a psychological dissolution of Europe”. Asked about a strengthening resentment between southern European states and thriftier northern bloc […]

Markets fell sharply yesterday after the European Central Bank (ECB) disappointed investors, hoping for quick action to contain the region’s ongoing debt crisis. ECB president Mario Draghi, who last week pledged to do whatever it takes to save the euro, said the central bank would gear up to buy bonds on the open market, but […]

The average yield on 10-year Spanish bonds has risen to 6.65%, a 0.22% from a bond sale in July. In addition to a yield increase demand for bonds fell from 3.2 times the amount of bonds last month to 2.4. It is expected that the European Central Bank will start buying Spanish and Italian bonds […]

US treasury secretary Timothy Geithner has argued that Europe has the means and commitment necessary to resolve the continuing euro debt crisis. Arguing that Europe still needed to bring down interest rates Mr Geithner said that European leaders have “signalled they are prepared to move further” than they previously have done to address the crisis […]

July 2nd ECB executive board member Jörg Asmussen has warned that progress to resolve the Greek financial crisis has “virtually stalled” over the last three months since the last bailout agreement.  July 3rd Plans for an EU-wide banking union overseen by the European Central Bank, (ECB,) lack required details to ensure they succeed,       credit ratings […]

Expectation is mounting ahead of Thursday’s key meeting of European Central Bank (ECB) officials, following president Mario Draghi’s promise the institution would do “whatever it takes” to save the euro. The ECB’s options range from buying more bonds of troubled member states like Italy and Spain, to making more cheap cash available to banks, or […]

Luxembourg prime minister and Eurogroup President Jean-Claude Juncker has argued that the euro has reached a “decisive point” and that leaders will decide in the coming days “what measures we will take”. Mr Juncker’s comments follow a pledge by head of the European Central Bank, Mario Draghi, that he would everything, within his mandate, to […]