Tag Archive | "financial crisis"

WATCH Queen Elizabeth lectures Bank of England economists

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Queen Elizabeth II visited the Bank of England on Thursday where she discussed about the financial crisis with financial policy expert Sujit Kapadia. The Queen asked the expert why no one had been able to predict the arrival of the financial crisis and if “people had got a bit lax.” “Complacency crept in,” one bank [...]

Greece on the edge but still functioning

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ATHENS, Greece (AP) – A conversation in struggling Greece is, often as not, about the superlatives of doom: The country is on the edge, the people are headed toward catastrophe, and the state, drained of cash and lasting political consensus, has effectively ceased to function. Yet in Athens, home to nearly half the population, the [...]

Spain yield lower after Greek election

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MADRID (AP) – Spanish markets breathed a sigh of relief Monday with stocks opening higher and the country’s borrowing costs dipping slightly after pro-bailout parties won the elections in Greece. The Ibex-35 stock index opened about 1.5 percent higher while the interest rate Spanish 10-year bonds, a benchmark of market confidence in a country’s ability [...]

Spain benchmark rate down but still high

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MADRID – Spain’s closely watched borrowing rate dropped slightly but remains dangerously close to the level that forced Greece, Ireland and Portugal to ask for bailouts of their public finances. The interest rate, or yield, on the country’s benchmark 10-year bonds slipped Friday morning to 6.84 percent, still close to the 7 percent level considered [...]

What will Merkel do if the euro fails?

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BERLIN – Germany’s Chancellor Angela Merkel has insisted repeatedly that “if the euro fails, Europe fails.” Now the crisis in the 17 countries that use the euro is coming back to the boil, with Spain admitting it needs help to rescue its banks and voters in Greece deciding whether to back a party that could [...]

Spain bond yield inches closer to 7 percent

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MADRID – The interest rate Spain would have to pay to raise money on the world’s bond markets continued to rise Wednesday amid worries that a planned bank bailout might not be enough to save the country from needing an overall financial rescue. The interest rate – or yield – on Spanish 10-year bonds started [...]

Spain’s relief may be short-lived warn economists

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As much as 100 billion euro will be poured into Spain’s banking system after the country announced Saturday it would ask Europe for financial aid. Spain’s finance minister Luis De Guindos said that the amount of cash could restore confidence in the eurozone. Under the plan, as much as 100 billion euro could be heading [...]

Spain’s economic plight to continue says Rajoy

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MADRID – Spain’s prime minister said Sunday that the country’s economy will continue to contract despite its request for financial aid. Mariano Rajoy says Spain will stay stuck in its second recession in three years, and unemployment will rise above the current level of nearly 25 percent, the highest among the 17 nations that use [...]

Spain accepts 100 billion euro rescue plan

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Spain said Saturday it would forward a request to Europe for financial aid, thus becoming the fourth euro zone member to draw on rescue money to fix its troubled banking sector, writes The Wall Street Journal. As much as 100 billion euro ($125 billion) will be injected by Spain’s government in its banks. Spanish finance [...]

Greece looking for some respite at Euro 2012

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WARSAW, Poland (AP) – With the financial crisis causing a surge in unemployment and poverty, Greece’s national football team is looking to provide some respite from the problems back home. Greek football association president Sofoklis Pilavios tells The Associated Press that the squad in Poland for the European Championship had learned to ignore other difficulties [...]

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