Global Stock Markets Saw Massive Inflows Last Week Despite Selloff
A funny thing happened in global financial markets last week, which could be a warning for future volatility.
Greece Gets Two More Years to Hit Deficit Targets
International Monetary Fund Director Christine Lagarde protested the extension of the deadline for Greece to cut its debt to a “sustainable” level to 2022, saying that the target date “has to be 2020.”
Germany, France Discuss United Front Against Lenience for Greece
Despite Greece's attempt to win additional time to comply with bailout conditions, Chancellor Merkel of Germany and President Hollande of France were discussing ways to send a firm message that Athens must adhere to its original conditions.
Greek Leader Said to Seek More Time to Meet Austerity Goals
Prime Minister Antonis Samaras of Greece hopes to achieve two objectives with eurozone policymakers: to assure them that he will carry out mandated austerity measures and to win more time to do so.
Draghi, With Credibility at Stake, Ups Ante in Debt Fight
ECB President Mario Draghi is upping the ante after saying last week he would do "whatever it takes" to preserve the euro.
Moody’s Cuts Outlook on Germany, Luxembourg, Netherlands
Germany, the Netherlands and Luxembourg saw their outlooks downgraded to negative by Moody’s Investors Service late Monday as debt woes in the eurozone continued to worsen.
Spain Gets Extra Year to Cut Debt
Spain will be given an extra year to get its deficit reduction under control, but markets were not impressed with the action.
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.
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.
Spain, Cyprus Downgraded
Moody's cut the ratings of Spain and Cyprus on Wednesday. Bond yields topped 7% for Spain, and in Italy’s first bond sale since Spain’s bailout yields surged.