The Fruit of Knowledge
Posts tagged debt crisis
Wall Street little changed on growth concerns
Mar 4th
NEW YORK (Reuters) – Wall Street was little changed on Monday as investors took worries about global growth and the euro zone debt crisis as opportunities to take a breather from equities that have risen near record highs. Stocks faced technical resistance as they climbed in recent weeks without a significant or prolonged pullback. The S&P and Dow are up more than 6 percent and 7 percent, respectively, for the year so far. "We are hitting a bit of technical resistance here, but the momentum is still there and the market is still seen undervalued. …
Wall Street little changed as global growth worries weigh
Mar 4th
NEW YORK (Reuters) – Wall Street was little changed on Monday as investors took worries about global economic growth and the euro zone debt crisis as opportunities to step back from equities that have risen near record highs. Plans to tighten curbs on the housing market in China and a slowdown in growth of that country's services sector prompted worries about growth in the world's second largest economy. …
Cash airlift helped avert Greek bank run during debt crisis: paper
Mar 3rd
ATHENS (Reuters) – Greece's central bank had billions of euros of banknotes shipped in from other central banks to avert a bank run during the country's debt crisis as depositors withdrew their money, newspaper To Vima reported on Sunday. Fears the debt-laden country might ditch the euro and return to the drachma led Greeks to pull out billions of euros of savings in the last three years, stashing their cash under mattresses or in safe deposit boxes. "While many talked about a lack of liquidity in the economy, the cash circulating … …
World shares slide on Italy vote, German Bunds gain
Feb 26th
LONDON (Reuters) – Italy's inconclusive election result sparked a selloff on world equity markets on Tuesday and sent safe-haven German bond yields sharply lower as investors feared a resurgence of the euro zone debt crisis. The euro briefly touched a seven-week low against the dollar to trade near $1.30 after no clear majority emerged from the vote, raising the prospect of weeks of political uncertainty and potentially another election later in the year. "This is the worst possible outcome from the market's point of view," said Alessandro Tentori, Citigroup's head of global rates. …
Hitting the debt limit: What bills would be paid?
Jan 14th
In the summer of 2011, when a debt crisis like the current one loomed, President Obama warned the GOP that seniors might not get their Social Security checks unless there was a deal to raise the nation's borrowing limit.
Merkel sets limits on euro zone risk-sharing
Dec 14th
BRUSSELS (Reuters) – European leaders agreed on Friday to press on with further steps to tackle their debt crisis but German Chancellor Angela Merkel threw out a proposal to boost risk-sharing with a fund to help euro zone states in trouble. Germany's rejection of an idea strongly backed by France showed the potential for more tensions over crisis management, a day after the bloc clinched a deal on euro zone-wide banking supervision and approved long-delayed aid to Greece. …
Germany’s Merkel sets limits on euro zone risk-sharing
Dec 14th
BRUSSELS (Reuters) – European leaders agreed on Friday to press on with further steps to tackle their debt crisis but German Chancellor Angela Merkel threw out a proposal to boost risk-sharing with a fund to help euro zone states in trouble. Germany's rejection of an idea strongly backed by France showed the potential for more tensions over crisis management, a day after the bloc clinched a deal on euro zone-wide banking supervision and approved long-delayed aid to Greece. …
Banking deal boosts EU leaders in fighting crisis
Dec 13th
BRUSSELS (Reuters) – The European Union reached a landmark deal on Thursday to make the European Central Bank the bloc's top banking supervisor, giving EU leaders greater confidence that they are gaining the upper hand over the euro zone's debt crisis. EU finance ministers forged a deal on the single supervisor in the early hours of Thursday after marathon talks. Leaders will give their stamp of approval at a summit starting later in the day, their last of 2012, and also discuss closer fiscal ties for their troubled currency area. …
Euro falls on grim economic outlook, U.S. data eyed
Dec 7th
LONDON (Reuters) – The bleak outlook for the European economy knocked the euro and stalled gains the region's share markets on Friday, as investors waited to see if nonfarm payrolls data in the United States might affect its monetary policy plans. A day after the European Central Bank cut its forecasts for growth across the 17-nation euro area next year, Germany's Bundesbank said there was a chance the region's debt crisis could send Europe's biggest economy into recession. The euro dropped 0.25 percent to a low of $1. …
Asian shares ease on uncertainty over Greek bailout, U.S. fiscal cliff
Nov 20th
TOKYO (Reuters) – Asian shares eased on Wednesday as investors refocused on the euro zone debt crisis after European officials failed to reach a deal on a bailout for Greece, while Federal Reserve Chairman Ben Bernanke highlighted the dangers of a U.S. fiscal crisis. The euro fell 0.4 percent to $1.2759, extending losses and retreating further from Tuesday's two-week high of $1.28295. Euro zone finance ministers will meet again on Monday, after their meeting in Brussels ended on Wednesday without an agreement on the next tranche of loans to Greece. …
