A public clash between Greece’s international lenders over how Athens can bring its debts down to a sustainable level has reignited fears that the crisis could flare up anew. Euro zone finance ministers suggested that Greece, where the euro zone …
Leading world economies pressed the United States on Sunday to act decisively to avert a rush of spending cuts and tax hikes, warning that the so-called fiscal cliff is the biggest short-term threat to global growth. Unless a fractious Congress …
“The booming Latin American energy industry is not insulated from the threat of a euro zone collapse or hostilities in the Middle East,” warned global insurance broker Willis. Speaking to a gathering of energy companies in Foz Do Iguacu, Brazil, …
“The European debt crisis is affecting the global economy, definitely,” said Kurt Karl, Swiss Re’s chief economist in an interview at the recent Reinsurance Rendezvous in Monte Carlo. He did indicate that it’s affecting the U.S. a bit less, as …
The euro zone debt crisis was born in Greece. Nearly three years and two bailouts on Europe must decide whether to give the country yet more help or cut it loose. For all its complexities, Greece’s problems essentially come down …
EU leaders go into a Brussels meeting today, Thursday June 28, more openly divided than at any time since the euro crisis began, with Germany’s Chancellor Angela Merkel showing no sign of relenting in her refusal to back other countries’ …
Chancellor Angela Merkel rebuffed pressure on Thursday for Germany, Europe’s most powerful economy, to underwrite debt or guarantee bank deposits in the euro zone, as Spain’s soaring borrowing costs raised new alarm. Spain’s 10-year bond yield hit a euro lifetime …
Euro zone finance ministers rushed Spain into an EU-funded rescue for its debt-stricken banks to pre-empt the threat of a bank run if Greece’s debt crisis flares again but any respite for Madrid and the euro may be short-lived. After …
“Over the next 18 months it’s estimated that Ireland will spend 100 million euros (app. $125 million) on preparations for Solvency II (SII),” said Garvan O’Neill, a partner in PricewaterhouseCoopers’ financial services practice, who headed a panel discussion on the …
In many ways Ireland is a “microcosm for Europe,” said Danny McCoy, the Director General of the Irish Business & Employer’s Confederation (IBEC) at the EIF Forum. He described the present situation as a “crisis of government and of business …
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