Narayana Kocherlakota of the Minneapolis Fed says the FOMC still has not lowered the "real" interest rate sufficiently, reports CNBC's Steve Liesman.
Amid wrangling over how much money the European Union spends at a time of grinding austerity across the Continent, Martin Ehrenhauser, an Austrian member of the European Parliament, lobbed a sobering question this summer at the union’s Brussels bureaucracy: How many bottles of booze does it have stocked in its wine cellars, the New York Times reports.
As Greece redoubles its efforts to raise billions to cut its debt and stoke its economy, the move toward privatizing assets faces daunting hurdles, the New York Times reports.
Spain plans to offer residency permits to foreigners who buy houses priced at more than 160,000 euros ($203,845) as part of its efforts to revive a collapsed real estate market and divest itself of hundreds of thousands of unsold homes.
Geoff Lewis, Global Market Strategist, J.P. Morgan Asset Management says that Greece can be "asphyxiated slowly or strangled quickly." Either way, the euro zone is moving on.
When cracks recently appeared in beams of the European Parliament ’s main chamber, forcing its closing, one member, Nigel Farage of the U.K. Independence Party, proclaimed that he would “work for the day that the whole democratic facade of the European Parliament is shut as well,” the New York Times reports.
New measures to ease costs for average Germans come at a time when Chancellor Angela Merkel has been pressing struggling European partners to slash public spending. The changes underscore just how uneven the economic outlook is across the continent. The New York Times reports.
Spanish Prime Minister Mariano Rajoy has deferred seeking help from a financial assistance program that Europe has tailored to Spain’s needs. But many are increasingly worried about the costs of further delay.
More than a quarter of the work force in Spain or Greece is without jobs, but there is a city on the Danube north of Munich that has the opposite problem: not enough workers, the New York Times reports.
It may be the age of austerity for many in Britain. For a former doctor, Geoffrey Lipman, it is anything but. Dr. Geoffrey Lipman, who is retired, gets about $78,000 a year in his government pension.
Spain's economic crisis has prompted a movement within Spain dubbed it “rurbanismo,” a term invented to describe the reverse migration from city to country that has stemmed a generations-old trend that has long been the usual pattern in most advanced industrial economies, the New York Times reports.
Lawyers within the Treasury Department have recommended a preliminary settlement with Standard Chartered, clearing the path for the British bank to pay a penalty to state and federal prosecutors and to move beyond claims that it flouted laws governing international money transfers. The NYT reports.
In September 1992, the Federal Reserve culminated a long-running effort to stimulate the sluggish economy by cutting its benchmark interest rate to 3 percent, the lowest level it had reached in almost three decades.
When fear gripped the European markets in April, the money manager Robert Tipp decided to buy more Portuguese government bonds. He figured that European officials wouldn’t let the country turn into another Greece.
You know me. I am like a Joan of Arc of the European Central Bank. For the better part of its existence I have reported about and vigorously defended its mandate and most of the time its policies and strategy. Even at times when it was facing a barrage of criticism from infuriated or frustrated markets. So nobody, nobody ever accuse me of being an ECB-, let alone euroskeptic.
Anastasia Kastaniotou, a struggling mother of three, stood near the Greek Parliament building on Wednesday and threw up her hands as she contemplated an €11.5 billion austerity package that her country’s government was trying to tie up this week to keep Greece in the euro, the New York Times reports.
Prosecutors say they have unearthed evidence in recent international money-transfer investigations that Chinese banks may have flouted United States sanctions against Iran. The NYT reports.
A top German official at the European Central Bank on Monday defended the bank’s plans to intervene in bond markets to push down borrowing costs for businesses and encourage economic growth. The position puts him at odds with the president of Germany's central bank and highlights a growing split in the country’s policy-making elite.
Greece's official lenders are signaling a growing reluctance to keep paying the bills of the nearly bankrupt nation, even as the government seeks leniency on its bailout terms.
Signs that cracks in the euro zone are widening sent markets on the Continent down sharply on Monday, as doubts grew about Greece’s ability to make good on its debt payments and Spain’s economy — the region’s fourth largest — was straining under the pressure of the government’s austerity measures, the NYT reports.