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Portugal's top bankers have called on Europe's leaders to stop "playing with fire" and moderate their stance towards the euro zone periphery, or risk instilling alarm among bank depositors in future, the FT reports.
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The euro is not in trouble but there are big imbalances in the euro area that need to be addressed, the Eurogroup's president Jean-Claude Juncker told CNBC Wednesday.
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The Irish government is poised to take a majority stake in Bank of Ireland, which will leave the Republic without a single significant lender independent of state control.
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Portugal is bracing for an increase in speculative trades against it as some investors expect it to be the next European nation to need a bailout now that Ireland is taking a massive loan to prop up its banks.
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The biggest bailout the European Union will have to do if it comes to it will be Spain and it is worrying that there is not a set mechanism on how to go about it, Cornelia Meyer, CEO & Chairman, MRL Corporation, told CNBC Monday.
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As Dublin moves toward accepting a European Union bailout, the attention is shifting towards Portugal as possibly the next victim of Europe's debt crisis.
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Sarah Palin says she could defeat President Barack Obama if she were to seek the White House in 2012, according to the transcript of an interview with ABC News.
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In an article in today's Financial Times, Portuguese finance Minister Fernando Teixeira dos Santos was discussing the implications of the current simultaneous credit crises in Greece, Portugal, and Ireland.
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The European Central Bank’s reluctance to consider further monetary easing exacerbates the problems the euro zone is currently facing, economist Nouriel Roubini told CNBC Thursday.
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The United States should tax purchases of yen, yuan and euro used to import goods from those three economies. Set it at about 40 percent until the Gang of Three agrees to acceptable exchange rate reforms.
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When interest rates soared last week on Irish government bonds, it served as a warning to other indebted nations of how difficult it could be to roll back decades of public sector largess. The New York Times reports.
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José Sócrates, Portugal’s prime minister, has blamed an increase in government bond yields on “speculative movements”, saying growing pressure on the country’s borrowing costs had no economic justification. The Financial Times reports.
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Covered bonds, a financing tool that has been popular in Europe since the 18th century, are winning converts here as a new way to finance residential and commercial mortgages, reports the New York Times.
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Europe’s financial crisis this year has created buying opportunities for cash-rich investors, including secretive hedge funds and Qatar, the natural gas giant of the Persian Gulf that recently agreed to invest $5 billion in Greece. But China is leading the charge. NYT reports.
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The times when developed economies grew at high rates are behind us and the next crisis will hit when people realize this, Satyajit Das, author of Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives told CNBC Tuesday.
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Some EU countries face the prospect of missing the budget deficit targets forced upon them this year by impatient bond investors, as tax revenue missed projections. The New York Times reports.
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The European Central Bank should worry less about the “phantom risk” of inflation and instead focus on the rising threat of deflation which could result from a currency war, economist Nouriel Roubini said in an article for Roubini Global Economics clients.
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Fast-growing nations like Thailand are trying to devalue their exchange rates to bolster their export-driven economies, reports the New York Times.
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Despite the euro zone's recovery still looking very fragile, the central bank's key playmakers seem determined to talk about pushing policy back onto a more "normal" footing.
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As the government of Prime Minster George Papandreou struggles to get the nation’s financial house in order — reducing the size of its bloated civil service, chasing after tax evaders and overhauling its pension system — it has also begun to tackle a much less talked about problem: the cozy system of “closed professions” that has existed here for decades, costing the economy billions of dollars a year.
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A combination of better data than expected, China’s pledge to buy the country’s bonds and hopes that international bail-out loans will be extended have boosted investor sentiment. The Financial Times reports.