E.U. Bank Capital Deal Fails
Although discussions dragged on till the wee hours of the morning, E.U. finance ministers were unable to put together a deal on toughening bank capital rules.
German Cabinet Approves Bigger Rescue Fund
The members of German Chancellor Angela Merkel’s Cabinet gritted their teeth and passed a measure on Wednesday that would provide for a larger rescue fund in response to the euro zone debt crisis.
Greece Sees Second Rescue as Euro Bond
Greece's Prime Minister George Papandreou said that the bond repurchase measure in the country's second bailout amounted to a joint euro zone bond in what he called a move beyond a monetary union for the group of 17 nations sharing a single currency.
Euro Zone Pledges Help for Greece, But Sets No Timetable
Euro zone ministers discuss ways to help Greece out of its debt crisis as fears mount of the spread of problems to Italy and Spain.
Greek Protests Turn Violent; Euro Zone Debt Talks Fail
Greeks protesting austerity measures turned violent in Athens on Wednesday, a day after after euro zone talks on the nation's debt failed.
Eurozone Squabbles Over Greek Rescue
Eurozone nations weighed in on the Greek financial crisis as the International Monetary Fund (IMF) and European Central Bank (ECB) rejected the involvement of private creditors, lest ratings agencies see their cooperation as coerced and term the measure a default.
Greek Bond Yields Driven Higher on Restructuring Fears
The yield on Greek bonds, particularly for short-term paper, skyrocketed Thursday as worries over the possibility of haircuts drove investors’ fears. Portuguese, Italian, and Spanish bonds followed, since anything that would initiate a Greek restructuring would likely affect the other troubled nations as well.
Merkel, Weber, Schaeuble to Meet for ECB Chief Job
Angela Merkel, chancellor of Germany, was due to meet on Friday with Axel Weber, head of the Bundesbank, and Wolfgang Schaueble, Germany’s finance minister, to discuss Weber’s withdrawal from the race for the top slot at the European Central Bank.
Eurozone Debt Crisis: EU Meets, Germany Resists Aid Expansion
Euro zone leaders gathered Monday in Brussels to discuss a new report from the International Monetary Fund (IMF) and to call for additional measures to restore calm in the financial markets, as Germany resisted expansion of aid efforts.