Better late than never. After a string of delays, and having overcome a constitutional obstacle in Germany, the euro zone’s new rescue fund, the European Stability Mechanism, looks set to be finally inaugurated on Monday, the Financial Times reports.
Spain sold four billion euros ($5.1 billion) of shorter-dated government bonds on Thursday, paying slightly more to borrow over three years than a month ago but drawing strong interest from investors.
The Turkish prime minister announced on Wednesday night that Turkey had fired artillery at targets in Syria, in retaliation for Syrian mortar fire that fell in a Turkish border town and killed five Turkish civilians, the New York Times reports.
Once upon a time, the foreign exchange (FX) markets enjoyed a clear framework for trading and were seen as a reflection of the health of global economies. But as central bank programs of quantitative easing have been introduced, currency market trades are not so clear cut, according to analysts at HSBC.
The European Union's banking watchdog will stick to a target for banks to raise more capital to help shield them from the euro zone debt crisis when it publishes a new report on Wednesday.
By 2100, some 10 million people will inhabit the earth, according to the United Nations. When that happens will we encounter an “unprecedented planetary emergency” or can engineering, technology and the human spirit rise to the challenges posed by 10 billion people on earth?
As Portugal, Greece and Spain dominate the headlines with public protests, banking woes and bailouts, Ireland – one of the euro zone’s original crisis economies - is set to return to growth in 2013, according to Danske Research.
The differences in approach could not be more distinct — or telling. Fresh austerity measures were announced last week by Prime Minister Mariano Rajoy of Spain. Two of the most economically distraught countries in the euro zone, Greece and Spain, mapped out additional budget cuts last week, the New York Times reports.
Contrary to popular belief, bankers and politicians are not to blame for the financial crisis. Rather, it’s systemic flaws in the very nature of democracy that allowed financial imbalances to take root.
The London real estate market was abuzz. A wealthy Greek banker wanted to spend up to £60 million (nearly $100 million) for a home, and was in a hurry to make a deal. Evangelos Meimarakis, the president of the Greek Parliament, is among the more than 30 Greek politicians under investigation for possible tax evasion and the illegal accumulation of wealth, the New York Times reports.
Car makers are hoping to battle a global downturn and Europe’s debt crisis with a series of new models and technologies at the Paris Motor Show this week, in the expectation that it will help boost flagging sales.
Australia may be gripped by fears its mining boom is ending, but HSBC believes extraction industries will continue to power the Australian economy
Stock markets across Europe returned to September’s rally on Thursday, despite well-publicized unrest on the streets of Greece and Spain.
European Central Bank President Mario Draghi has said he will do “whatever it takes” to defend the euro and Ben Bernanke’s Federal Reserve has gone to infinity and beyond in an attempt to revive the U.S. economy, but a growing number of market watchers are beginning to doubt unconventional monetary policy will actually work.
As Spanish domestic politics threaten to spin beyond the control of the central government, they are also making it harder for Prime Minister Mariano Rajoy to meet Spain’s financial obligations to the rest of the euro zone, the New York Times reports.
The fallout from the euro zone debt crisis will continue to hurt the region for the next decade, accountants Ernst & Young have warned.
Greece may be in flames, but its stock market is doing quite nicely. In fact, the gains so far this year have outpaced those in many financially stronger countries—especially China.
Spanish share prices tumbled nearly four percent on Wednesday, as investors worried whether the European Central Bank and its partners have sufficient resources to rescue the ailing Spanish economy.
The listing of Russia’ largest bank Sberbank on the London Stock Exchange, raising some $5 billion, is just the beginning of a wider trend and shows how Russian state-owned businesses are increasingly turning towards privatization, Anton Karamzin, deputy chairman and CFO of Sberbank, told CNBC.
Violent protests erupted on the streets of Athens on Wednesday. They could help the Greek government make its case for less stringent bailout conditions to its international creditors.