Debt Crisis

  • Protesters block streets around European Central Bank 01-06-2013 07:03 AM

    Frankfurt: Crowds of anti-capitalist protesters on Friday blocked streets leading to the European Central Bank in Germany's financial capital, Frankfurt, to protest its role in pushing for austerity cutbacks as a way to fight the continent's debt crisis. Members of the Blockupy alliance linked arms for several hours in a...
  • Four more years!

    Delhi Musings |  Shormishtha Panja
    Now that Barack Obama has won a second term, let's look at some of the reasons for his victory in what was predicted as a...

  • Debt relief: A time for forgiveness 27-12-2011 03:28 PM

    This article appeared on the parent Website on December 23 at 8:21 pm By Martin Sandbu As Christmas Eve dawns, the tent hamlet that popped up in front of St Paul's Cathedral more than two months ago is still there. Today, the mood in the London outcrop of the global...
  • Japan to enter dollar swap agreement with India 25-12-2011 06:31 PM

    Tokyo: The Japanese government is considering a dollar swap arrangement with India to provide emergency liquidity in case the European debt crisis reaches emerging economies, the Nikkei business newspaper said on Sunday. The agreement would set the total swap arrangement at $10 billion, or 780 billion yen, the Nikkei said....
  • Is the Eurozone heading towards a breakup? 21-12-2011 03:59 PM

    The health of the Eurozone is dire. What started out as a sovereign debt crisis in a minor periphery economy of the Eurozone, Greece, has now morphed into a full-fledged crisis involving the giants " Italy and France. It was always clear that if the crisis spread to these bigger...
  • Brussels Summit: UK rejects Eurozone deal 10-12-2011 08:57 AM

    European leaders reached a new deal on Friday to try and resolve the Eurozone debt crisis without UK's approval. ...
  • EU forges fiscal union, sees way out of crisis 10-12-2011 07:52 AM

    Brussels: Working almost to exhaustion and persuading countries one by one, European leaders agreed Friday to redefine their continent - hoping that by joining their fiscal fortunes they might stop a crippling debt crisis, save the euro currency and prevent worldwide economic chaos. Only one country said no - Britain....
  • Brussels Summit: EU leaders agree on fiscal pact 09-12-2011 11:34 AM

    Brussels: European Union leaders sealed a new fiscal pact ensuring tougher budget discipline but failed to agree on a treaty change to enshrine the rules, meaning a deal may now involve the 17 euro zone nations plus any others that want to join, diplomats said. An agreement involving all 27...
  • Brussels Summit: EU meets to end financial crisis 09-12-2011 07:56 AM

    At the two day summit in Brussels, French President Nicolas Sarkozy and German Chancellor Angela Merkel have called for treaty changes including tighter budgetary rules and deficit caps. ...
  • Brussels summit: EU seeks more unity to save euro 09-12-2011 07:46 AM

    Brussels: European leaders are wrestling over how much of their sovereignty they are willing to give up in a desperate attempt to save the ambitious project of continental unity that grew from the ashes of World War II. At stake at the summit in Brussels, which began on Thursday evening,...
  • Eurozone crisis to hit global airlines hard: IATA 08-12-2011 11:59 AM

    Geneva: The Eurozone crisis is turning out to be the biggest threat to the profitability of global aviation industry, with airlines in Asia-Pacific expected to post losses worth $ 1.1 billion out of a total industry loss of $ 8.3 billion next year, global airlines body IATA has said. With...
  • Euro zone sees 0.2 pc growth in September quarter 06-12-2011 06:55 PM

    London: The 17-nation euro zone clocked an economic growth of just 0.2 per cent in the three months ended September as the debt contagion continued to worsen. Most of the euro area economies, especially Greece, that share the common currency euro are grappling with debt turmoil that threatens to push...
  • Debt crisis strikes at heart of Europe 21-11-2011 06:23 PM

    Brussels: The euro zone's debt crisis struck again at the heart of Europe on Monday despite a clear-cut election victory in Spain for conservatives committed to tougher austerity. Spain's Socialists became the fifth government in the 17-nation single currency area to be toppled by the debt crisis this year. Portugal,...
  • Rupee hits 32-month low, crosses 51 per dollar 18-11-2011 10:26 AM

    Mumbai: The rupee fell past 51 per dollar on Friday for the first time in nearly 32 months as worries Europe's debt crisis may spill over into the global economy boosted dollar demand. The rupee has slumped 14.2 per cent from its highest point in 2011 hit late July and...
  • Greek protests as France, Spain face squeeze 18-11-2011 01:48 AM

    Paris: Greek police clashed with anti-austerity protesters and Italy announced sweeping reforms in response to a European debt crisis that on Thursday pushed borrowing costs for France and Spain sharply higher. More than 30,000 Greeks took to the streets of Athens in a protest rally that marked the first public...
  • Now, Jet Airways seeks funds to pay off debts 16-11-2011 03:53 PM

    New Delhi: After Kingfisher, which is facing financial crunch, now the Jet Airways has expressed the need to raise funds in order to pay off its debt. According to Jet Airways, the depreciation in rupee has impacted debt levels for the company. The current debt in books for Jet Airways...
  • New Italian, Greek Govts race to limit damage 14-11-2011 06:15 PM

    Rome: Technocrat leaders in Italy and Greece rushed to form governments as they sought to limit the damage from the euro zone debt crisis on Monday, and the euro climbed on relief that a key Italian bond auction drew decent demand from investors. The president of Italy asked former European...
  • Mahindra Satyam Q2 net soars; Euro crisis a worry 10-11-2011 03:08 PM

    Hyderabad: Software services exporter Mahindra Satyam warned on Thursday the euro zone debt crisis could dent demand for outsourcing, after beating estimates with a more than 10-fold jump in its quarterly profit. Europe is the largest market after the United States for India's $ 76 billion information technology industry that...
  • Asian stocks plunge on Europe debt crisis setbacks 10-11-2011 08:03 AM

    Bangkok: Setbacks in Europe's efforts to isolate a debt crisis before it blows up into an all-out recession sent Asian stock markets tumbling on Thursday. Japan's Nikkei 225 index fell 2.1 per cent to 8,569.79 while Hong Kong's Hang Seng index plummeted 4.1 per cent to 19,189.30. South Korea's Kospi...
  • Italian borrowing costs reach breaking point 09-11-2011 05:52 PM

    Rome/London: Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's promise to resign failed to raise optimism about the country's ability to deliver on long-promised economic reforms. Italian 10-year bond yields shot above the 7 per cent level that is widely deemed unsustainable, reflecting investors' concerns...
  • Italy: Europe debt crisis brings down Berlusconi 09-11-2011 03:34 AM

    Rome: Italian Prime Minister Silvio Berlusconi said on Tuesday said he would resign after suffering a humiliating setback in parliament that showed a party revolt had stripped him of a majority. Berlusconi confirmed a statement from President Giorgio Napolitano that he would step down as soon as parliament passed urgent...
  • Berlusconi will resign, says Italian president 09-11-2011 01:30 AM

    Rome: Italian Prime Minister Silvio Berlusconi will resign following a humiliating vote in parliament on Tuesday, President Giorgio Napolitano said. The president said after meeting Berlusconi that the 75-year-old prime minister would step down as soon as parliament passed urgent reforms demanded by euro zone leaders to cut Italy's huge...
  • Italy bond yields soar; euro zone troubles deepen 08-11-2011 12:41 PM

    Athens: Italian government bond yields soared to near 15-year highs, putting the euro zone's third largest economy front and center of the region's debt crisis, despite scrambling efforts by policymakers to stem the growing contagion. Italy, the world's eighth largest economy, overtook Greece as the prime threat to the stability...
  • Greek leaders to pick PM of new government 07-11-2011 03:15 PM

    Athens: The leaders of Greece's two biggest parties are due to resume talks on Monday to agree on who should be the country's new prime minister, after reaching a historic power-sharing deal to push through a massive financial rescue deal and prevent imminent bankruptcy. Europe's markets and government, however, remained...
  • Euro, equities fall on Italy debt concern 07-11-2011 02:48 PM

    London: The euro and global stocks fell on Monday as political uncertainties in Greece and Italy fueled concerns that Europe's debt crisis was intensifying, prompting investors to cut exposure to riskier assets. Concern over political instability in Italy, the euro zone's third biggest economy, overshadowed a coalition deal in Greece...
  • US markets give up hopes for lasting euro solution 07-11-2011 09:50 AM

    New York: After another week of confusion and turmoil in Europe, investors are ditching whatever hopes they once had for a conclusive solution to the debt crisis. That may foreshadow a gloomy holiday season in markets, especially if wary investors opt to reduce risk in their portfolios and take refuge...
  • Greek PM George Papandreou may quit: Reports 03-11-2011 06:25 PM

    Athens: Greek Prime Minister George Papandreou is expected to offer his resignation and offer a coalition government. According to BBC, George is likely to offer a coalition government with former Greek central banker Lucas Papademos at the helm. The Greek government has been on the brink of collapse over plans...
  • European leaders warn Greece of euro exit 03-11-2011 09:51 AM

    European leaders heaped pressure on Greece over its decision to hold a referendum on its latest bailout deal. ...