Greece has until Friday to produce a new reform plan, before all EU leaders meet on Sunday to decide whether to accept the proposal.» Read More
A positive feedback loop between banks and weak sovereigns is emerging, with a potentially calamitous effect on the euro zone and the global economy, Martin Wolf writes in the FT.
The latest proposal aimed at amping up the European bailout found has "Made in Washington" stamped all over it, according to one economist.
The price movements that have emerged over the past two months in gold (and silver) prices have proved fascinating, writes Simon Derrick, head of currency research at Bank of New York Mellon.
After a weekend of talks at the International Monetary Fund’s annual meeting in Washington over how best to deal with the euro zone debt crisis, we appear no closer to a resolution.
Senior Russian government figures have rebelled against a deal between President Dmitry Medvedev and Vladimir Putin, the prime minister, to switch jobs next year. The FT reports.
European policymakers, stung by criticism for failing to stem the euro zone debt crisis, began working on new ways to stop fallout from Greece's near-bankruptcy from potentially upsetting the world economy.
Lost in much of the rancor and hand-wringing over the debt crisis in the European Union and the US is that it's not just those two regions that will be affected.
Europe lacks the same mechanisms that the US had to deal with its financial crisis three years ago, making the dangers even greater, billionaire investor and activist George Soros said.
Those looking for answers from this week's World Bank/IMF conference were presented only with more questions and vague reassurances that global policy leaders are acutely aware of the problems and prepared to act.
The Obama administration, increasingly alarmed by the spillover effects of Europe’s financial crisis, has begun an intensive lobbying campaign to persuade Chancellor Angela Merkel of Germany to ramp up efforts to stem any contagion from the debt crisis in Greece, the NYT reports.
European policymakers are quickening their preparations to cope with an escalation of the region's debt crisis as talk of a possible Greek default gained pace.
If Greece is certain to default—and many in the global financial community suspect it is—then Antonio Borges didn’t get the memo.
Not long ago, this weekend's IMF conference looked like it would be an upbeat gathering about a prosperous year ahead. But now the gathering of the world's top financial officials has turned into a fairly somber affair.
The International Monetary Fund finds itself front-and-center in dealing with Europe’s debt crisis, urging banks to recapitalize and policymakers to begin to aggressively address the problem. In Asia, however, the Fund finds itself in a completely different role, limited to monitoring and consulting with economies that seem relatively sheltered—at least for now—from the global crisis.
The appointment of a former Chinese central bank official, Zhu Min as a deputy managing director at the IMF was meant to increase Asia's voice at the Fund. But some current and former policymakers, say the region remains under-represented.
Christine Lagarde's leadership of the IMF is not quite three months- but there's simmering debate over whether the IMF can stage-manage the seemingly inevitable Greek debt default without turning it into a global financial crisis.
Between dominate G7 voting rights, and historical European leadership, is the IMF overly weighted towards Western interests?
Questions about a post-Strauss Kahn IMF will no doubt be unwelcome, but the dire state of play in Europe, not to mention the dreary U.S. landscape, present compelling, alternative story lines.
The newly appointed IMF leader Christine Lagarde is expected to help pull Europe away from an economic cliff. What should she do?
Billionaire investor George Soros said he believed the United States was already experiencing the pain of a double dip recession and that Republican opposition to Obama's fiscal stimulus plans was to blame for sluggish growth.