Spain pain scuttles the euro rally and Switzerland keeps growing - it's time for your FX Fix.
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.
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For years, law enforcement officers and smugglers have played cat and mouse in Europe, where contraband cigarettes are stashed in everything from furniture shipments to loads of Christmas trees, the New York Times reports.
As big banks face the fallout from a global investigation into interest rate manipulation, American and British lawmakers are scrutinizing regulators who failed to take action that might have prevented years of illegal activity, the New York Times reports.
While it was big news when the Barclays chairman, Marcus Agius, resigned Monday over his bank’s role in the Libor rate-fixing scandal. Less noticed was his other resignation that same day, the New York Times reports.
As the Libor fixing scandal embroils the UK banking sector, the question is: which other banks will be slapped with fines?
One in five Swiss banking clients predict the Euro will collapse and they are keeping a third of their portfolio in cash.
The French President is determined to show the French that he is willing to stand up to Berlin, to push the German Chancellor to contribute even more than before toward a lasting solution of the euro mess. The New York Times reports.
The head of the European Central Bank and other euro zone leaders worked on Saturday on a grand vision for the euro zone meant to reassure investors and allies that flaws in the currency union will be addressed quickly.
"I do think that we will see a flow into safe havens like Switzerland" after the Greek election, Megan Greene, Senior Research Analyst, Roubini Global Economics, said. She added that she didn't believe the Swiss cap on the franc's appreciation was sustainable and it may even break in the next two months.
As Europe works to prop up Spain’s wobbling banks, its leaders still face a problem that plagues the Continent’s increasingly vulnerable financial institutions — a longstanding addiction to the borrowed money that provides the day-to-day financing they need to survive.
As European leaders grapple with how to preserve their monetary union, Greece is rapidly running out of money, the New York Times reports.
The European bailout of 130 billion euros ($163.4 billion) that was supposed to buy time for Greece is mainly servicing only the interest on the country’s debt — while the Greek economy continues to struggle, the New York Times reports.
Whether it’s wealthy French or Americans fleeing the prospect of higher taxes or wealthy Russians and Chinese trying to escape political uncertainty, millionaires and billionaires around the world are migrating like never before, according to government statistics and relocation experts.
French President, Francois Hollande has cast himself as the European leader pushing hardest to forge a growth-oriented “new path” through the euro zone’s grinding debt crisis, pitting him against the austerity-minded German Chancellor Angela Merkel, the New York Times reports.
Despite efforts at official reassurance, no one really knows the consequences of a Greek exit from the euro zone, or how rapidly big countries like Spain and Italy, and their banks, will feel the effects, The New York Times reports.