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Since the start of Europe’s debt crisis in 2009, there has been a steady drumbeat of predictions that the euro is doomed. The problems were too intractable, the debts too large, the political will too feeble. So far, the doomsayers have been wrong. The leaders of Europe have managed to put a bandage here and [...]
BRUSSELS — Worries about Greece’s electoral turmoil and Spain’s spiraling borrowing costs are piling the pressure on European Union leaders meeting in Brussels on Wednesday amid renewed market pressure to keep the region’s debt problems from getting worse. Spain’s prime minister warned that his country can’t continue much longer with its current high borrowing rates [...]
The global economy is straining under the weight of more than just public sector debt. In the developed world, consumers, financial institutions, and other corporations have each accumulated unprecedented levels of debt — and how that total debt is managed will ultimately determine the economic fate of the global economy going forward.
MOSCOW — Global stocks enjoyed one of their best days in weeks on Tuesday ahead of a summit of European leaders that’s expected to be dominated by calls to boost economic growth. Europe remains the focus of attention across all financial markets in the run-up to the June 17 Greek election that could go a [...]
LONDON — The International Monetary Fund has issued a tough assessment of U.K. economic policy, urging the coalition government and Bank of England to do more to boost demand in the economy. The IMF’s report of its latest consultation with British authorities released Tuesday called for more stimulus, either through further rounds of quantitative easing [...]
More than one kind of damaging domino effect is possible if Greece is forced to abandon the euro
MOSCOW (AP) — European stocks inched up Monday morning in spite of investors’ lingering concerns that the G-8 leaders had failed to provide a concrete plan to solve the European debt crisis. Traders both in Europe and Asia were kept on edge by worries about the economic future of Greece and whether it would exit [...]
WASHINGTON — On paper at least, European leaders agree: They need stronger growth measures to help their economies expand out of their 2½-year-old government debt crisis. Figuring out exactly what those new steps might be will be the hard part.
For 2½ years, the world has been watching and waiting to see if debt-laden Greece can remain in the euro zone. Many have been doubtful since the beginning of the debt crisis. Greece’s government debt is simply too burdensome, the fiscal adjustment imposed on Athens is too severe, the Greeks are too resistant to the [...]
MADRID — Spain‘s prime minister warned Wednesday that the country faced the danger of being locked out of international markets as investors continued to fret about the future of the euro and Greece’s place in the 17-country eurozone. “Right now there is a serious risk that (investors) will not lend us money or they will [...]
