The leaders of France and Germany have made it clear to Athens that it should not be too hopeful about getting leeway with respect to its Greece bailout agreement unless it agrees to maintain the tough Greece reform targets. It seems that the head honchos of the Euro Zone in Brussels are determined to make sure that Greece stays within the Euro Zone.
The manufacturing sector of Eurozone showed a sharp shrink in almost three years in April, while the data from Asia seems to be very impressive for the quarter. The numbers from the US manufacturing sector also showed a surprising rise in factory growth which left Eurozone as the weakest link in the economic chain with the austerity programs and fiscal crisis taking a toll.
Even as the economic depiction in the United States has brightened up recently with more positive employment figures, Europe remains held up in a slump. Most economists are estimating a recession for 2012, which will heighten the pressure faced by governments and financial institutions across the Continent.
It is the final week for stock market in 2011 and analysts are expecting a quiet time in the market. Most market players, traders and investor took time off and extended their Christmas weekend to a lazy Monday. The stock markets were closed on Monday and will resume trading from today on a normal schedule. […]
With financial turmoil creeping in the country and the borrowing rate of Italy towering above 7 percent, many small European countries are forced to hunt for help. The eurozone finance ministers are considering a financial aid package for the country. 17 ministers of the eurozone have quickly managed to raise adequate money in order to build confidence among the world markets that their currency won’t give up.
When the European Union and the International Monetary Fund agreed in July to provide a second bailout for Greece, this debt-ridden Euro nation, as well as the rest of the Eurozone, saw some hope of salvation and the possibility of being able to avoid a default. However, debt crisis fears rose again last Friday based on […]
Recording an all-time high for the fourth consecutive session, gold prices touched a never-before price of $1,910 earlier today reinforcing prevalent investor sentiments regarding gold being a safe haven, while equity markets across the world witness massive ups and downs. With the U.S and European economies continuing to look shaky, the precious yellow metal has […]
With the precious yellow metal touching a record $1600 an ounce earlier today, while some investors with large gold holdings are rejoicing, it could also be an indication of a market-wide sentiment regarding the faltering world economy. Rallying gold prices have often been associated with overwhelming problems in the financial markets. Given the continuing impasse […]
Despite Portugal having negotiated a 78 billion euro bail-out package in May, the credit rating agency, Moody’s Investors Service, cut the Euro country’s debt rating to junk status on Tuesday, based on risks that the country, like Greece, would need a second bail-out before it could start raising money in the capital markets. Downgrading long-term […]
“Convince Us First” Say European Governments Finance Ministers Seven arduous hours of talks in Luxembourg resulted in a worrisome situation, with finance ministers of European governments postponing a decision on releasing a further bail-out to debt-laden Greece. With strong demands that require the Greek Parliament to enforce spending cuts and budgetary reforms if EU is […]
Markets dropped accompanied by a weaker dollar with U.S. Federal Reserve Chairman Ben Bernanke expressing concerns about global economic recovery. While forecasting a pick-up in the recovery of the U.S economy, Bernanke admitted that the current recovery pace was “frustratingly slow” and “uneven”. Bernanke’s comments follow some very disappointing economic data released by the U.S […]
With Standard & Poor’s cutting their outlook on Italy’s economy from “stable” to “negative”, along with the massive political loss suffered by Spain’s Socialist Party, have worsened existing debt concerns in Europe. Italy accounts for almost 20% of all government debt in the European Union, while Spain’s economy is the fourth-biggest in the Eurozone. Speculation […]
The arrest on Saturday of IMF chief, Dominique Strauss-Kahn, has sparked off intense speculation as to how much this incident will affect the scale and generosity of the bail-out packages to be handed out to Greece, Portugal and Ireland in particular, and future rescue packages to the Eurozone in general. Instrumental in strategizing the financial […]
The Euro and European Markets dropped to new lows amid fresh concerns over Greece’s persistent debt issues, related worries regarding an impending financial recession and speculation on whether Greece will default its payments and stop using the Euro. With Greece’s plan to sell Treasury bills today in place, the drop in stock values and currency […]