The ultimatum has been issued: the E.U. is pressuring Cyprus to end its standoff over a proposed financial-rescue package and …
European Union
Cyprus: The E.U. ‘Rescue’ That Risks Backfiring
With its $13 billion agreement to bail out Cyprus, the E.U. this weekend thought that it had successfully doused the latest threat to its single currency, the euro. Cyprus has run into trouble because its banks are heavily …
Too European To Fail? New E.U. Banking Safety Net Takes Shape
Creation of euro-zone supervisor for banks is a breakthrough, but agreement contains some big (and small) loopholes
Spain Plays Cat-And-Mouse Over Bailout
An upcoming E.U. summit on banking union is being overshadowed by speculation over whether Spain will apply for financial rescue.
Strapped Europeans Swap Cars For Bikes
Italy is home to Ferrari and Lamborghini, two of the world’s most legendary automakers. But the country’s troubled economy has forced an increasing number of Italians to downside the number of wheels on their vehicles: For the …
When Central Bankers Attack: Why Ben and Company Can’t Save the Global Economy
New action by central banks around the world has cheered markets, but the boost will only be temporary
Why Thursday’s Euro Summit Really Is a Make-or-Break Moment. Really.
Once again, leaders of the 27 European Union nations are holding a crisis summit meeting to tackle a spreading economic crisis and shore up the floundering euro. Once again there are ambitious proposals on the agenda of the …
Why Europe’s Downgrades Matter
Rating agencies have just downgraded the economic outlook for seven European countries. Does that really matter, or is it just acknowledging problems that everyone already knows about?
How to Find Travel Bargains in the Troubled Eurozone
The Euro is about as low relative to the U.S. dollar as it’s been all year, as policymakers and bankers alike fret that the shared currency masks deep sovereign debt problems and that the European economy is about to slide into …
Smart Money Is Quietly Fleeing Euro Troubles
The U.S. stock market rallied Friday on hopes that the most recent bailout would save the common European currency and thus reduce the risk of economic and banking problems around the world. Almost immediately, however, cracks …
Is Europe’s Crisis a Glimpse of America’s Future?
The problems caused by rising debt are fundamentally different in the U.S. from those in Europe, but they are equally daunting.
Should Greece Ditch the Euro?
Talk about drama. German Chancellor Angela Merkel, French President Nicolas Sarkozy and Greek Prime Minister George Papandreou emerged from an emergency meeting on Wednesday evening with a bombshell: Greece will have to decide if …
