EU Reaches Debt Deal
EU leaders announced that they had reached agreement on a number of provisions to combat the debt crisis, including a plan to recapitalize banks directly and easier terms for Spanish borrowing.
Discord Rules Before EU Summit
Tempers are flaring in the run-up to the 20th EU summit since the onset of the eurozone debt crisis.
Spanish Banks Downgraded as Cyprus Seeks Bailout
The troubled eurozone continued to experience turmoil as Moody’s downgraded 28 Spanish banks and Cyprus requested a bailout that could amount to more than half its economy.
Euro Leaders, Soros Press Merkel on Joint Finance
Chancellor Angela Merkel of Germany was in a tight spot as fellow eurozone leaders turned up the heat on the issue of joint debt for the bloc.
Eurozone Slumps Further as Fidelity Predicts Bailouts for Spain, Italy
Despite the formation of a new government in Greece and a rescue for the banking sector in Spain, it looks as if a long, hot summer is in store for the eurozone.
Pro-Bailout Party Wins Greek Election
Voters in Greece on Sunday let the world know that they were not quite ready to depart the euro.
No Mercy for Greece After Summit: Germany
Although a Wednesday E.U. summit meeting ended with Greece being urged by leaders to remain in the joint currency bloc, Germany did not back down on its stance that Athens must adhere to austerity measures already agreed to.
Bundesbank Warns Greece as E.U. Leaders Meet
Germany’s Bundesbank warned Greece on Wednesday that if it failed to carry through with reforms it had previously agreed to, it would jeopardize any further aid funds.
Global Economy at Risk: OECD
According to the OECD, the euro zone debt crisis threatens not just Europe, but the world economy itself.
Greece Should Remain in Eurozone: G8
Greece should remain in the eurozone despite its financial woes, according to a communique issued by the G8 gathering at Camp David during the weekend.