euro

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Europe Asks China for Bailout Help

But China wants guarantees first

(Newser) - The head of the eurozone bailout fund met with Chinese leaders yesterday to urge them to invest in its rescue scheme. No agreement has been reached yet—indeed, Klaus Regling said that there weren’t even formal negotiations—but the expectation is that China will toss about $100 billion into...

Sarkozy: Letting Greece Join Euro Was a Mistake

Country wasn't ready to be part of eurozone, he says

(Newser) - Nicolas Sarkzoy has made it clear that tensions remain in the eurozone despite agreement on a debt crisis deal . The French president says that while he backs reforms intended to allow Greece to remain in the euro, it was a mistake to let the country join the single currency a...

Paul Krugman: Europe's Got a Hole in the Bucket'
 Europe's 
 Got a 'Hole 
 in Its Bucket' 
paul krugman
Oct 24, 2011 12:51 PM CDT

Europe's Got a 'Hole in Its Bucket'

Eurozone countries face self-perpetuating crisis: Krugman

(Newser) - The euro crisis is dire indeed—but Paul Krugman can’t help seeing the gallows humor in it. “As one rescue plan after another falls flat, Europe’s Very Serious People just keep looking more and more ridiculous,” he writes in the New York Times . The core of...

Germany Rips 'Stupid' US Euro Plan

Who is Obama to talk, grumbles finance chief

(Newser) - Get your own house in order first, miffed German officials are telling the US, blasting America's call to pump up a bailout fund as a not-so-bright idea. "I don't understand how anyone can have such a stupid idea," said German Finance Minister Wolfgang Schauble, referring to...

George Soros: Double-Dip Recession Is Here

Rejection of stimulus a big mistake: investor

(Newser) - Worry no longer about an impending double-dip recession—it’s already here, says George Soros. “I think we are in it already,” the billionaire investor told CNBC , citing Republicans’ rejection of fiscal stimulus as a key problem. “We have a slowdown and basically a conflict about whether...

Geithner to Europe: We're Not Lecturing

Treasury secretary in Poland to offer advice on debt crisis

(Newser) - As Europe continues to battle its debt crisis, Timothy Geithner has a suggestion. The Treasury secretary today called on euro zone officials to leverage the region’s roughly $600 billion bailout fund, an insider tells Reuters . Geithner didn’t provide details on how Europe should go about the move, nor...

Europe's Economy Teeters, Leaders Go on Holiday

Summer vacations send 'terrible signal to the markets'

(Newser) - Europeans have always treasured their long summer vacations, and that goes for their leaders as well. As the European economy teeters on the precipice, Nicolas Sarkozy is by the Mediterranean in his swimming trunks. His prime minister is vacationing in Tuscany. British Chancellor George Osborne is in California, where he...

Debt Crisis Could Slam Italy Next: Officials

European council calls emergency meeting

(Newser) - Top European officials scheduled a last-minute meeting today amid fears Italy would be the next country hit hard by the euro zone debt crisis. Though a rep for the European Council president says Italy isn’t on the agenda, other officials privately contradict him. Last Friday saw a 2.45%...

Soros: Euro on Verge of Major Collapse

'Inevitable' a country will leave euro, he warns

(Newser) - Billionaire investor George Soros had harsh words for the euro zone yesterday, saying it had "fundamental flaws," "no plan B," and that the system is "on the verge of an economic collapse," reports Reuters . The core flaw, says Soros, is that the euro is...

Strauss-Kahn Saga Would Make Great Movie

Would tell the tale of 'crisis of European dream': Ross Douthat

(Newser) - Dominique Strauss-Kahn’s story might seem like Law & Order fodder, but it would actually make for a “sprawling, complex, kaleidoscope-of-globalization” movie—something along the lines of Traffic or Babel, writes Ross Douthat, who summarizes the plot as he sees it in the New York Times . It would tell...

US Dollar Value Near 3-Year Low
 Dollar Nears 3-Year Low 
Apr 29, 2011 4:45 AM CDT

Dollar Nears 3-Year Low

Set for biggest weekly plunge since January

(Newser) - The dollar’s value today remained near its lowest in three years against multiple currencies, and it’s set for its largest weekly drop since January, Reuters reports. The figures follow the Federal Reserve’s suggestion that it had no immediate plans to tighten its monetary policy, prompting a big...

Euro Plummets on Greek Default Fears

Developments in Portugal, Finland deepen market panic

(Newser) - The euro took a nose dive today, and so did the bonds of weak eurozone nations, as investors panicked over fresh speculation that Greece will have to restructure its debt in the near future, and the election of an anti-Euro party in Finland. German government sources tell Reuters that they...

Why the Euro Was a Horrible Mistake
Why the Euro Was
a Horrible Mistake
paul krugman
Jan 13, 2011 12:34 PM CST

Why the Euro Was a Horrible Mistake

And how Europe can rectify it

(Newser) - Europe is a little like a classic Greek tragic hero, brought low by a singular act of hubris: the creation of the euro. In a lengthy piece in the New York Times , Paul Krugman argues that the euro was always a dubious idea, but European leaders “engaged in magical...

As Crises Spread, Europe Scrambles for an Answer
As Crises Spread, Europe Scrambles for an Answer
analysis
Dec 1, 2010 10:04 AM CST

As Crises Spread, Europe Scrambles for an Answer

Even healthier countries now feeling pinch

(Newser) - Financial crises in Greece, Ireland, and Portugal have stoked fears for Italy, Belgium, and the more robust Germany as Europe struggles to find a solution, the New York Times reports. Worry that Germany may have to pay the brunt of bailout costs have prompted the sale of its debt; investor...

Germany Must Step Up in Euro Crisis
Germany Must Stop Carping, Step Up in Euro Crisis 




roger cohen
Nov 29, 2010 1:59 PM CST

Germany Must Stop Carping, Step Up in Euro Crisis

Berlin's not getting the bigger picture, writes Roger Cohen

(Newser) - Is the euro the new League of Nations—a grand experiment that eventually gets abandoned and left to waste away? With bailouts in Greece and Ireland and threats to Portugal and Spain, the currency “can no longer take its survival for granted just because its collapse would be unthinkable,...

Ireland: OK, OK, We'll Take the Bailout

'It will happen, absolutely,' says Central Bank governor

(Newser) - Ireland finally dropped the denial act today, with central bank chief Patrick Honohan saying that, yes, fine, the country would take a bailout from Europe and the IMF. “It is my expectation that will happen, absolutely,” he said. “It will be a large loan, because the purpose...

Euro in 'Survival Crisis' as Portugal Heads for Bailout

Finance ministers meet to discuss new stability plan

(Newser) - The euro, and the European Union, may be in serious trouble. Portugal suggested yesterday that there was a “high risk” it would need the same bailout treatment as Ireland and Greece. European finance ministers will meet in Brussels tomorrow to discuss a European stability plan that would lend billions...

World Turns to Blogger for Euro Advice

Edward Hugh saw the euro's troubles coming

(Newser) - A British man who's made his living as a part-time English teacher in Spain for decades is suddenly the hottest name in economics, because he got it right. Blogger Edward Hugh correctly predicted the current Eurozone crisis, pinpointing the reason as the difference in demographics between Germany and countries like...

Eurozone Sets Up $1 Trillion Bailout Fund

Europe hopes 'umbrella' will boost sagging currency

(Newser) - Eurozone nations are setting up a trillion-dollar "umbrella" fund to restore investor confidence and halt the euro's plunge. Finance ministers say the bailout fund will be available to any eurozone nation risking debt default, AP reports. Investors fear Spain or Portugal are likely to follow Greece into needing a...

Dr. Doom: Europe on Path to Recession

And America might 'run into the wall'

(Newser) - Dr. Doom isn't happy with what he sees happening in Europe, which the NYU economist (real name Nouriel Roubini) says is on the path to recession or something very much like it. Some interview highlights, as reported by Reuters and Bloomberg :
  • In the euro zone, "growth will fall toward
...

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