WASHINGTON, Feb 11- The International Monetary Fund is concerned about recent sharp share price declines for European banks, as a robust banking sector is needed to sustain economic recovery, IMF spokesman Gerry Rice said on Thursday. "To the extent that the recent sell-off reflects deteriorating prospects for European banks, the decline is indeed a concern,"...» Read More
Greece has hired Deutsche Bank and Morgan Stanley to conduct a voluntary buy back of its debt, a senior finance ministry official told Reuters.
The OECD slashed its global growth forecasts on Tuesday, warning that the debt crisis in the recession-hit euro zone is the greatest threat to the world economy.
The state’s grip on the economy has been tightening. Could foreign pressure persuade the new leadership to reverse course?
World trade will grow by a mere 2.5 percent this year, dragged down by Europe to less than half of the previous 20-year average, the World Trade Organization (WTO) said on Friday.