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European Debt Crisis
Greece proposes changes to bailout terms
As tens of thousands of anti-austerity demonstrators poured into the streets of Greece, the new finance minister faced off Wednesday against his Eurozone counterparts in Belgium in a bid to renegotiate the nation's bailout package. After a six-hour emergency session in Brussels described as both tense and informal, Eurozone officials haggled over the wording of a statement following Greek Finance Minister Yanis Varoufakis' short-term proposal to buy time and stave off a funding crunch that could push his country into default. Dutch Finance Minister Jeroen Dijsselbloem, chairman of the Eurogroup of finance ministers, said, “There was no joint conclusion … and we...
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Greece proposes changes to bailout terms
As tens of thousands of anti-austerity demonstrators poured into the streets of Greece, the new finance minister faced off Wednesday against his Eurozone counterparts in Belgium in a bid to renegotiate the nation's bailout package.
After a six-hour...
Greece's effort to rework bailout meets resistance in foreign capitals
A charm offensive by Greece's new leaders appears to have done little so far to persuade the country's skeptical creditors to modify the terms of the hated bailout that has kept its economy afloat since 2010.
Greece's far-left Syriza party was swept to...
Greek debt and California debt: so very different
The Times' editorial Tuesday about Greek voters rebelling against the austerity measures demanded by international authorities led several readers to liken Greece's budget problems to those closer to home.
"The benefits of a democracy in voting to...
Catalonia vows to defy Spain, hold secession vote
Spain's northeastern region of Catalonia vowed Tuesday to defy both the central government and the country's highest court and proceed with a much-disputed weekend vote on whether to secede from Spain.
Hours earlier, Spain's Constitutional Court...
Stocks edge higher after three days of declines
NEW YORK — U.S. stocks rose slightly in early trading Wednesday, stabilizing after three days of losses on Wall Street. Investors continue to focus on Europe's economic malaise and tensions in the Middle East after the U.S. and Arab nations attacked the...
ECB surprises markets with rate cut, asset purchases
The European Central Bank, in a surprise move Thursday, cut its main interest rate to rock bottom and said it would buy certain securities and bonds in a bid to stimulate growth and combat increasing risks of deflation.
In addition to lowering its key...
Resentment is growing within the EU ranks
Fringe groups in Germany have a harrowing history. But the latest one, says Hugh Bronson, has the right idea.
Founded last year, the protest party Alternative for Germany has made a splash with its ominous warnings of Germany being held back by the euro,...
Irish president welcomed by Queen Elizabeth II on historic visit
LONDON — In a historic first, the president of Ireland began a state visit to Britain on Tuesday to mark the growing reconciliation between his nation and the one that long ruled it from afar through centuries of oppression and rebellion.
After a...
As EU doors open, Bulgarian and Romanian migrants see minds closing
BERLIN — The last time she checked, Katya Tasheva had the normal number of limbs and eyes. So she feels a nasty shock of non-recognition, she says, when German news reports warn of a coming invasion of people like her — Bulgarians — as if they were aliens...
After painful cuts, Portugal set to exit Eurozone bailout
Three years after it was forced to seek a humiliating international rescue, Portugal is set to become the latest Eurozone country Saturday to exit its bailout program and regain control of its finances amid a halting economic recovery.
At the order of...
Stocks end lower after bank scare in Europe
Stocks fell Thursday as worries about the soundness of a European bank spooked U.S. investors, prompting them to sell stocks and snap up less risky assets like gold and governments bonds. Fears emerged overnight about the financial stability of Espirito...
Stocks stabilize, but end down for the week
U.S. stocks stabilized on Friday and ended with a small gain, but it wasn't enough to prevent the market's biggest weekly drop since April. Investors became more cautious this week as corporate earnings for the April-June period began trickling in....
Money issues dominate final televised debate on Scottish independence
The campaigns for and against Scottish independence held a final televised debate Monday night in Glasgow that polls suggested was won by Scotland’s First Minister Alex Salmond. It was a victory he sorely needed: His “Yes” campaign has consistently...
Eurozone economy stalls, adding new worries for American recovery
The Eurozone's feeble recovery came to an outright halt in the second quarter, the latest in a batch of disappointing global economic indicators that have clouded the prospects for American growth.
Economic output in the 18-nation Euro area stalled in...
Weakness in Eurozone, Asia pose risks to U.S. economy
Troubles in the global economy have dogged the American economy since early in the recovery, with the Eurozone debt crisis, the so-called Arab Spring in the Middle East and the Japanese tsunami all swiping momentum from U.S. growth in varying degrees.
...
After six quarters of decline, Eurozone economy expands
The Eurozone, which has struggled with a debt crisis and a prolonged recession, saw its economy expand for the first time in 18 months, according to figures released Wednesday.
Eurostat, the European Union’s statistical agency, said the economies for the...
Germans go to the polls; Merkel the likely winner
LONDON — Germans began heading to the polls Sunday morning in an election that will probably see their popular chancellor, Angela Merkel, voted in for a third term but forced to share power in government with one of the runner-up parties.
The balloting...
Germany's Angela Merkel begins tricky task of forming new government
LONDON -- Fresh from her party’s best election showing in more than 20 years, German Chancellor Angela Merkel started the tricky task Monday of forming a new government after her preferred coalition partner was ousted from parliament in a shocking result....
Apple shares tumble as stocks fall for second day in last three
The stock market endured its second broad decline in three days, as investors fretted about weak earnings in the U.S. and deepening economic stagnation in Europe.
Companies ranging from Apple Inc. to Bank of America Corp. were battered as investors...
Treasury official Lael Brainard to step down, could be Fed nominee
WASHINGTON -- Lael Brainard, the Treasury department's top official in dealing with global financial issues, will step down this week amid speculation she could be nominated to the Federal Reserve Board.
Brainard has served as undersecretary for...
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