News

Papademos Gets Cabinet Approval for 2nd Bailout

Greek Prime Minister Lucas Papademos obtained approval from his Cabinet for deeper budget cuts needed to secure a second package of international aid, clearing the latest hurdle in his race to prevent financial collapse. Cabinet approved the 287-page document...

11
Feb

Greece Must Back Cuts or Risk Euro: Venizelos

Greek Finance Minister Evangelos Venizelos pressed domestic political leaders to yield to conditions for a bailout, saying a refusal would open the way for the country’s exit from the euro. Venizelos said his euro-area counterparts refused to approve a...

10
Feb

Greece Rebuffed on Aid Over Austerity Vote

European finance ministers held back a rescue package for Greece in a rebuff that left lawmakers in Athens under government pressure to endorse a newly minted austerity plan or exit the euro. “In short: no disbursement without implementation,” Luxembourg...

10
Feb

Asia Stocks, Euro Gain on U.S. Growth, Europe

Asian stocks (MXAP) jumped the most in almost three weeks, the euro and won strengthened and bond risk dropped after Chinese Premier Wen Jiabao pledged support for exports, better-than-forecast U.S. housing starts and a decline in Spanish borrowing costs....

21
Dec

Euro Set for Biggest Weekly Drop in 3 Months

The euro headed for the steepest weekly decline in three months as European nations prepare for bill auctions next week amid concern policy makers are struggling to stem the region’s two-year debt crisis. The 17-nation euro traded 0.5 percent...

16
Dec