Top 16 Most Optimistic Countries in Europe
Who’s feeling optimistic in Europe? It may be counterintuitive, but according to this Gallup poll, the most optimistic people are those who rate their current lives poorly.
S&P Warns of Euro Zone Downgrades if Recession Recurs
David Beers, who presided over the downgrade of the U.S. credit rating after the great debt debacle in Congress, said Wednesday that ratings in the euro zone are in danger of cuts should large parts of the region sink back into recession.
European Union Banks to Raise Capital Buffers by June
European governments will force their largest banks to quickly increase their cushions of capital to ride out market turmoil brought on by the debt crisis, officials said Wednesday.
Roubini, PIMCO’s El-Erian: Kick Out Greece to Save Euro
Mohamed El-Erian, CEO and co-CIO of PIMCO, said that one way to save the euro was by cutting the size of the 17-nation bloc through the exit of Greece and one or two other unspecified countries.
Soros Warns Europe: Fix Debt Crisis or Face Meltdown
Billionaire investor George Soros on Thursday told European officials that the time for postponing substantive action on the euro zone debt crisis is over—otherwise they risk the launch of another Great Depression.
Greek Debt Swap Feared Short of Goal
Banks and insurers, who were supposed to declare Friday whether they would join the bond exchange that was a condition of a second bailout for Greece, were slow to declare themselves, and a shortfall was feared at midday.
Swiss Takes Surprise Action to Protect Franc, Slashing Rates
In an attempt to safeguard the Swiss franc against skyrocketing value, the Swiss National Bank on Wednesday said it would slash already-low interest rates in a move that shocked markets.
Greek Bond Swap to Cost Creditors 21%
Swaps of existing Greek bonds for new ones with longer maturity dates will cost private bondholders 21%, according to Greece's deputy finance minister, who said Tuesday that exchanges for the new debt instruments would begin in August.
Europe’s Market Euphoria Over Greek Rescue Turns Sour
European markets gave back gains made on initial euphoria over last week’s Greek rescue plan, with the bond market in particular voting no confidence.
Moody's Downgrades Greece, Says Default Almost Inevitable
Moody's pushed Greece down to a single notch above default at Ca on Monday after the deal put together to rescue Athens from its debt woes proved unacceptable to the ratings agency.