Tag Archive | "euro"

Greece downgraded from developed to developing nation

Tags: , , ,

ATHENS, Greece - Index provider MSCI Inc. (MSCI) has downgraded Greece’s status from developed nation to emerging-market. The decision came on the heels of the country’s onging recession and the consistent loss of the country’s stock market value. Since 2007, Greece’s stock exchange has lost 91 percent of its value. Businessweek reports that the New York based [...]

Portugal And Slovenia Next In Line For a Bailout?

Tags: , , ,

The eurozone is still struggling to find a solution to its debt crisis. Cyprus needs to raise extra €6 billion as part of its bailout deal but many pundits are wondering which country will soon need to be bailed out. As Zero Hedge notes, Portugal and Slovenia are the countries that could soon ask EU officials [...]

EU Crisis: Cyprus Forced To Raise Extra €6bn Under New Bailout Deal

Tags: , , ,

  Cyprus will be forced to find an extra €6bn to secure a EU-IMF funded loan raising the total cost of its bailout to €23bn.  Initially, the plan to rescue Cyprus was going to cost €17bn but after a month of negotiations a draft plan presented by the country’s international creditors raised that estimate and the extra money will [...]

ATM of Happiness dispenses 100 euro notes for free in Spain (Video)

Tags: , , ,

A cash machine dubbed the ‘ATM of Happiness’ is dispensing 100 euro notes ($131) for free in crisis-stricken Spain. The video is part of a campaign launched by Coca-Cola called “Open Happiness”. The only condition recipients have to follow is to use the money to spread a little happiness in a country that is going through its [...]

Moody’s cuts ESM and EFSF rating

Tags: , , ,

Europe’s top financial firewalls, the European Stability Mechanism (ESM) and the European Financial Stability Facility (EFSF), were downgraded by ratings agency Moddy’s investors Sevice due to credit risks involving the countries lending supporters. The ESM rating was cut from Aaa to Aa1 and given a negative outlook. The EFSF faced the same cut, fromm Aaa [...]

Further Greek debt renegotiations are off the list warns Germany

Tags: , ,

BERLIN – Greece’s hope to renegotiate its bailout terms were dashed in an interview published on Sunday. German Finance Minister Wolfgang Schaeuble told the Welt am Sonntag that Greece’s rescue loan program has already been negotiated several times and “scope for further concessions” aren’t on the country’s creditors list. Under the rescue loan program, Greece needs to [...]

Germany welcomes ECB decision to save the euro

Tags: , ,

BERLIN – The decision of European Central Bank’s president Mario Draghi to do “whatever it takes to preserve the euro” was welcomed Germany’s finance minister Wolfgang Schaeuble. Mr Draghi didn’t explain how he would preserve the euro but his speech was enough to partially restore confidence in Europe’s financial markets. On Thursday Mario Draghi committed Europe’s [...]

Euro stronger than dollar

Tags: ,

NEW YORK – It’s Euro’s day, people have it that the dollar is falling against other major currencies as the euro and the British pound rally thanks to an agreement in Europe that should make it easier to bail out troubled banks. The euro is up about 1.8 percent, its biggest jump in months, to [...]

Yield on Spanish bonds move away from danger zone

Tags: ,

MADRID – Pressure on Spanish bonds eased in early morning trading Friday following European lawmakers’agreement to give struggling banks access to money via euro zone bailout funds. The interest rate for Spain’s benchmark 10-year bond has moved away from the high 7-percent. The rate is an indicator of investor wariness to lend to the country. [...]

Italy and Spain beat Germany at euro zone summit

Tags: , , , , , , ,

BRUSSELS -Germany yielded to some of the requests of euro zone members after 14 hours of negotiations on the first day of the Brussels summit on Friday. European lawmakers told the press at the end of the draining talks that they had agreed to funnel money directly to struggling banks via the eurozone’s bailout funds. [...]

Page 1 of 1712345678...Last »