G-20 Boosts IMF Firewall, Pressures Germany
At the summit meeting of G-20 leaders in Los Cabos, Mexico, the focus was on strengthening the firewall of the IMF and pushing Germany to relent on pooled debt and increasing deficit spending.
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.
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.
Spanish Banks Downgraded
Moody’s cut the ratings of 16 Spanish banks, taking Banco Santander and Banco Bilbao Vizcaya Argentaria down three notches each. Fitch, meanwhile, dropped Greece into its lowest level in junk territory.
Elections Leave Greeks Lacking Coalition, Others Rethinking Austerity
Successful votes against austerity from Greece to France have pushed officials to consider other ways to cope with the debt crisis in the euro zone.
Will Election Results Push Euro Down to Its Fair Value?
Jim O'Neill of Goldman Sachs says a drop to 1.20 euros to the dollar is more likely than not.
Sarkozy, Austerity Are Losers in E.U. Elections
Europe could be in for change, if voters in three different countries over the weekend have anything to say about it.