Spain’s Suffering Continued in July, Q2
Both individuals and businesses pulled deposits from Spanish banks in July, as the country’s GDP continued to fall in the second quarter under austerity measures.
Spain Risks ECB Wrath With Unemployment Extension
Calling the move “just” in a country with unemployment near 25%, Prime Minister Mariano Rajoy also said that he was still considering asking for help from Europe to combat cripplingly high bond yields.
Italy, Spain Resist ECB Requirement
Neither Spain nor Italy is prepared to ask the European Central Bank (ECB) for aid in order for the ECB to begin buying their countries’ bonds. At least not yet.
ECB Battle: Draghi vs. Weidmann
ECB President Mario Draghi is challenging Bundesbank President Jens Weidmann’s opposition to a plan for the ECB to reenter the bond markets.
Draghi Tested on Euro Crisis
Should ECB President Mario Draghi fail to come up with an effective tactic to quell market fears over the eurozone crisis, it could make the situation worse than ever.
Eurozone Unemployment Sets Record
Unemployment throughout the eurozone hit a record, statistics revealed, with the numbers for many individual nations following suit.
Europe Tries Sticks, Carrots in Battling Crisis
The eurozone is trying to combine rewards with punishments as it seeks to thwart a stubborn debt crisis that has embroiled the region for the past few years.
Italy May Ask for Aid
Proof that the eurozone debt crisis is far from over came as Prime Minister Mario Monti of Italy said he might look for financial help from the rescue fund to shore up the country’s bonds.
European Banking Union Not Enough: Investors
Investors, apparently, not only lack faith in officials to take decisive action on the debt crisis but also do not seem to believe that a bold solution proposed by some can work—because it does not go far enough.
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.