euro zone financial crisis News

Commentary: World Economy Entering Into Financial Hurricane Season

The North Atlantic hurricane season runs from mid-August to October, with a strong peak in storm activity around the middle of September. A less familiar but even more destructive pattern of disturbances is the financial hurricane season, which coincides with …

ECB President Draghi Says EU Crisis Summit Delivered ‘Tangible Results’

European Central Bank President Mario Draghi said on Friday he was pleased with steps taken at the summit of EU leaders, including a decision to allow direct recapitalization of banks, but added that future aid must be tied to strict …

Best Affirms Allianz SE’s Ratings, Removes from Review, Outlook Stable

Following the rating actions taken in December 2011, A.M. Best Europe announced that it has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Germany’s Allianz Societas Europaea and its subsidiaries, as …