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The European debt crisis will deliver a "meaningful hit" to global growth and the recent selloff in stocks indicates the global economy has major structural issues, Mohamed El-Erian, CEO and co-Chief Investment Officer of Pimco, told CNBC Friday.
Germany and France can't borrow or tax enough to cover all the debts of their southern neighbors.
The International Monetary Fund (IMF) has published its detailed economic analysis of the Greek restructuring program. It makes for truly grim reading.
As the Flash Crash in U.S. equity markets May 6 illustrated, problems in Greece can have grave consequences for not merely other Mediterranean economies and Europe, but U.S. and the broader global economy.
As Greece gets its first instalment of aid from the European Union Tuesday, investors and traders are concerned about the fiscal strength of the other PIIGS: Portugal, Italy, Ireland and Spain.
Call it the eurozone two-step. That’s what the euro nations in distress will be asked to dance on Tuesday as their ministers present their recovery plans to the body of 16 eurozone finance ministers engaged in an emergency meeting in Brussels.
A new government is formed in Europe and problems ensue. They check the books from the outgoing administration and discover things are worse than they knew. If this sounds familiar, it should as this is what happened in Greece. It is now occurring in the United Kingdom.
As the euro plunges to a four-year low against the dollar and respected economists like Paul Volker wonder out loud if the currency will survive, reflection is necessary to determine why this once prestigious currency appears to be crashing on the rocks of uncertainty.
Greek Prime Minister George Papandreou declared he is not ruling out taking legal action against U.S. investment banks for their role in creating the spiraling Greek debt crisis.
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After a brief respite following the announcement last week of a nearly $1 trillion bailout plan for Europe, fear in the financial markets is building again, this time over worries that the Continent’s biggest banks face strains that will hobble European economies, the New York Times reported.
The US exposure to the European debt bailout could be at least $50 billion, but the chance of taxpayers actually being on the hook for that appears remote.
The Dow ended lower Tuesday as investors locked in some profits on stocks and sent gold to a new closing high as geopolitical worries left the market a little jittery.
Stocks advanced in mid-afternoon trading Tuesday, led by consumer and techs, after major exchanges agreed to put curbs on big drops in individual stocks.
Stocks retreated as the global rally from the previous session lost momentum and euphoria over Europe's near $1 trillion debt rescue package faded. Gold prices soared.
The UK election just got a lot more interesting in a big negative way for the British pound.
What the European leaders really meant to do with their big-bang, trillion-dollar sovereign-debt rescue was to save the euro currency, not to bury it. But with the cave in by European Central Bank head Jean-Claude Trichet (formerly a hard-money man and closet gold watcher) to use the "nuclear option" to buy up dubious sovereign debt, the euro is likely to keep depreciating.
U.S. stock index futures pointed to a lower open Tuesday as the global rally from the previous session lost momentum and euphoria over Europe's near $1 trillion debt rescue package faded.
Monday’s market euphoria across the world at the terms of the European Union/International Monetary Fund rescue package for the European bond market faded Tuesday as investors sold stocks and took profits on the euro. The worry for investors is whether governments in Greece and Portugal can live up to their end of the bargain and manage to significantly cut government spending in the face of bitter opposition from voters.
The size of the rescue package agreed at the weekend by European Union countries and the IMF is likely to cover the borrowing needs of vulnerable euro zone countries, according to famous economist Nouriel Roubini.