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Eurozone Debt Crisis

Is Italy in Denial of Its Public Debt?

Georges Ugeux | Posted 10.17.2012 | Business
Georges Ugeux

Mario Monti, the Prime Minister cum Minister of Finance, toured the capitals of Europe to obtain support for Italy, indicating that Italian sentiment would turn anti-Euro without such help.

Mario Draghi Covers The Rolling Stones' Greatest Hit

Terry Connelly | Posted 10.09.2012 | Business
Terry Connelly

American observers need to get used to how the Eurozone countries negotiate with each other -- with such a loose and ill-structured currency union, they have to use the only tools at their disposal.

Bill Gross: Bank Is Playing 'Kick The Can' With The Euro Debt Crisis

The Huffington Post | Alexander Eichler | Posted 08.02.2012 | Business

Bill Gross isn't mad at Mario Draghi -- he's just disappointed. Gross, co-founder of the investment firm PIMCO, said that he wasn't all that impres...

'The ECB Is Ready To Do Whatever It Takes To Preserve The Euro'

Reuters | Posted 09.25.2012 | Business

LONDON, July 26 (Reuters) - European Central Bank President Mario Draghi pledged on Thursday to do whatever was necessary to protect the euro zone f...

Dr. Doom Redux: Nouriel Roubini Warns of Perfect Economic Storm in 2013

Sheldon Filger | Posted 09.23.2012 | Business
Sheldon Filger

Dr. Doom has taken to the airwaves, warning policymakers as well as the public that there is a high probability that a perfect economic and fiscal storm will erupt in 2013.

There May Not Be Enough Money Available To Bail Out Spain

AP | DAVID McHUGH | Posted 07.24.2012 | Business

FRANKFURT, Germany -- Europe is on the brink again. The region's debt crisis flared on Monday as fears intensified that Spain would be next in line fo...

The European Debt Crisis: An Alternative Solution

Aris Protopapadakis | Posted 09.17.2012 | Business
Aris Protopapadakis

Greece, Ireland, Italy, Portugal and Spain are becoming increasingly uncompetitive economically relative to Germany. A higher average inflation rate in Germany can help reverse this slide.

From Ireland to Greece: Tragedy and Renewal in the Eurozone Crisis

Sean Kay | Posted 09.05.2012 | World
Sean Kay

What struck me most in talking to people in Athens and other parts of Greece was how common the refrains were from my visits to Ireland. People in both countries want the world to know the pain they are feeling.

Greek PM: 'We Want To Fight The Recession'

Reuters | Posted 09.05.2012 | Business

* Greek PM Samaras says want to renegotiate bailout policies * Says that does not mean to change fiscal targets but more time needed ...

Italy To Cut Health Care Spending, Public Workers

Reuters | Posted 09.04.2012 | Business

* 2012 cuts worth 4.5 bln euros, rising to 10.5 bln in 2013 * Cuts avoid hike in sales tax until July 2013 * Unions have...

How Much Credit Can Obama Claim on the Economy?

Robert J. Shapiro | Posted 08.25.2012 | Politics
Robert J. Shapiro

Obama did successfully block the hard right program of slash-and-burn budget austerity, which almost certainly would have plunged the economy back into recession, as it did in Britain. But once again, come November, how much credit will he get for avoiding another downturn?

Ex-British PM: Germany Must Treat 'The Debts Of One As The Debts Of All'

AP | Posted 06.24.2012 | Business

LONDON -- Former British Prime Minister Tony Blair said Saturday that the euro will only survive if Germany underwrites the debts of the eurozone's fi...

Europe's Solution Isn't More Inflation

Michael Pento | Posted 08.21.2012 | Business
Michael Pento

The only real solution for insolvent Europe is to explicitly default on the debt to a level that brings PIIGS countries to a debt to GDP ratio below 60 percent.

Wrong Lessons From Latvia for the Eurozone

Mark Weisbrot | Posted 08.19.2012 | World
Mark Weisbrot

If there's one simple lesson that most of the world -- if not the European authorities -- seems to be learning from the prolonged crisis in Europe, it's that fiscal tightening is not the proper response to a recession.

G7: In 'All Our Interests For Greece To Stay In Eurozone

Reuters | Posted 08.17.2012 | Business

WASHINGTON, June 17 (Reuters) - The Group of Seven industrialized economies said it was in "all our interests" for Greece to remain in the euro zone...

Fresh Off Greek Vote, Euro Reaches One-Month High

Reuters | Posted 08.17.2012 | Business

* Euro makes gains on dollar and yen on vote relief * Greek results suggest pro-euro parties holding slim majority * Ri...

White House Hopes Greece Elections Will Lead To 'Timely Progress'

Reuters | Posted 08.17.2012 | World

CHICAGO, June 17 (Reuters) - The White House said on Sunday it hoped the Greek election outcome would lead to swift formation of a new government th...

World Bank Chief: Countries Need To Prepare For Eurozone Uncertainty

Reuters | Posted 08.16.2012 | Business

LONDON, June 16 (Reuters) - Developing nations must be ready for a severe global financial crisis should the euro zone fail to cope with its current...

Greece Elections Could Rock Euro To Its Core

Reuters | Posted 08.16.2012 | Business

* Upstart leftist and establishment heir neck-and-neck * Election amounts to referendum on punishing bailout * Anti-bail...

Some Greek Employees Work Without Getting Paid

The Huffington Post | Bonnie Kavoussi | Posted 06.14.2012 | Business

A growing number of Greek workers are facing a stark choice: Work for no pay, or risk never getting paid again. An increasing number of Greek compa...

Spanish Prime Minister Calls For European Integration To Save Euro

AP | HAROLD HECKLE and ALAN CLENDENNING | Posted 08.13.2012 | Business

MADRID — Spain faced mounting pressure Wednesday to bolster confidence in its financial system just days after accepting a (EURO)100 billion ($1...

IMF Chief Praises Latvian "Success Story" -- A Scary Speech for the Eurozone

Mark Weisbrot | Posted 08.13.2012 | World
Mark Weisbrot

It is amazing to hear Lagarde, who almost certainly knows better, calling Latvia a "success." It is like calling the Great Depression a success -- after all, the U.S. economy did eventually recover from the Great Depression.

Greeks Withdrawing Cash, Stocking Up On Food Ahead Of Election

Reuters | Posted 08.13.2012 | Business

* Greeks withdraw cash from banks ahead of election * Stocking cupboards with food * Polls fan fears of return to the dr...

Nobel Prize-Winning Economist: Spain Bailout 'Not Going To Work'

Reuters | Posted 08.10.2012 | Business

By Tiziana Barghini NEW YORK, June 10 (Reuters) - Europe's plan to lend money to Spain to heal some of its banks may not work because ...

The German Soul and the Italian Volksgeist

Nathan Gardels | Posted 08.08.2012 | World
Nathan Gardels

If Europe doesn't get its collective political act together to solve the eurozone crisis, prosperity will be set back and dangerous political fragmentation will set in -- as it did, tragically, once before.