Debt Crisis

  • Protesters block streets around European Central Bank June 1, 2013

    Frankfurt: Crowds of anticapitalist 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 steady...
  • US kills idea of $1 trillion platinum coins January 14, 2013

    Washington: So much for the $1 trillion platinum coin idea. The US Treasury Department said on Saturday it will not produce platinum coins as a way of generating $1 trillion in revenue and avoiding a battle in Congress over raising the US debt ceiling. The idea of creating $1 trillion by...
  • S&P cuts Greek outlook to 'negative' August 8, 2012

    New York: Standard & Poor's Ratings Services on Tuesday lowered its outlook on Greece's longterm credit rating, saying that the financially troubled nation will likely need further aid from its international lenders amidst a worsening economy and delays implementing harsh austerity measures. The ratings firm downgraded Greece's longterm sovereign credit rating...
  • World View: Will the Eurozone break up? May 26, 2012

    Suhasini Haider: Hello and welcome to Worldview with me Suhasini Haider. Tonight we're taking a close look at what NATO's plans for a pullout mean for Afghanistan and for Afghans in particular. In our studio, Fawad Paikar, he's the Bureau chief of the Spanish news agency EFE there in Kabul,...
  • Centre cannot deny responsibility for debt crisis: Mamata May 2, 2012

    Kolkata: West Bengal Chief Minister Mamata Banerjee on Wednesday hardened her stance on the demand for a threeyear moratorium on interest payment for accumulated debts, saying the Centre "cannot deny its responsibility in the matter". "We are not going with a begging bowl. We are not asking for a special package....
  • IMF poised to secure $ 400 bn in crisis funding April 20, 2012

    Washington: The Group of 20 nations on Friday stood ready to commit at least $400 billion to bulk up the International Monetary Fund, though Brazil wants to tie the cash to a pledge that emerging market voting power at the IMF will increase. The IMF has been aiming to raise at...
  • Germany approves second Greek bailout package February 28, 2012

    Berlin: German Chancellor Angela Merkel scraped through a parliamentary vote endorsing a second bailout for Greece on Monday but faced a growing backbench revolt against pouring in more money in support of the euro zone. The comfortable 49690 victory, with five abstentions, was inflated by centreleft opposition support, but only 304...
  • Eurozone seals Greek bailout worth 130 bn euros February 21, 2012

    Brussels: Eurozone finance ministers approved on Tuesday a second bailout for debtladen Greece that will resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy. After a marathon 12 hours of talks through the night, euro zone officials said ministers had agreed measures to cut Greece's debt...
  • EU leaders pledge to stimulate growth, create jobs January 31, 2012

    Brussels: European leaders promised to stimulate growth and create jobs, in a tacit acknowledgment that their exclusive focus on austerity has had painful side effects. Heads of European state and government meeting in Brussels on Monday pledged to offer more training for young people to ease their transition to the...
  • Europe poses global recession threat: IMF January 25, 2012

    Washington: Europe's debt crisis could tip the world economy into recession and a bigger firewall is urgently needed to keep the damage from spreading, the International Monetary Fund said. The IMF chopped its estimate for 2012 global growth to 3.3 percent from 4 percent just three months ago and warned it...
  • Banks examining options for AI's debt recast January 19, 2012

    Mumbai: Bankers on Thursday explored various options including conversion of the Rs 18,000 crore loans to SLR as part of the debt restructuring of the ailing Air India carrier and may finalise the bailout package next week. "We are looking at various instruments like SLR, longterm bonds and nonconvertible debentures among...
  • Debt crisis will help emerging mkts: Mark Mobius January 11, 2012

    Dr Mark Mobius, executive director, Templeton Emerging Markets Group, tells Pravin Palande and Shishir Prasad that he is optimistic about India and in many cases, a weak rupee may actually benefit some companies in the country. Dr Mark Mobius Profile: Executive director, Templeton Emerging Markets Group Career high point: Consistently voted as one...
  • Debt relief: A time for forgiveness December 27, 2011

    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 Occupy movement...
  • Japan to enter dollar swap agreement with India December 25, 2011

    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. Both countries...
  • Is the Eurozone heading towards a breakup? December 21, 2011

    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 fullfledged 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 December 10, 2011

    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 December 10, 2011

    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. It...
  • Brussels Summit: EU leaders agree on fiscal pact December 9, 2011

    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 EU...
  • Brussels Summit: EU meets to end financial crisis December 9, 2011

    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 December 9, 2011

    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, is...
  • Eurozone crisis to hit global airlines hard: IATA December 8, 2011

    Geneva: The Eurozone crisis is turning out to be the biggest threat to the profitability of global aviation industry, with airlines in AsiaPacific 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 the European...
  • Euro zone sees 0.2 pc growth in September quarter December 6, 2011

    London: The 17nation 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 the...
  • Debt crisis strikes at heart of Europe November 21, 2011

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

    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 is...
  • Greek protests as France, Spain face squeeze November 18, 2011

    Paris: Greek police clashed with antiausterity 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 test...
  • Now, Jet Airways seeks funds to pay off debts November 16, 2011

    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 stands at...
  • New Italian, Greek Govts race to limit damage November 14, 2011

    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 Commissioner...
  • Mahindra Satyam Q2 net soars; Euro crisis a worry November 10, 2011

    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 10fold jump in its quarterly profit. Europe is the largest market after the United States for India's $ 76 billion information technology industry that gets...
  • Asian stocks plunge on Europe debt crisis setbacks November 10, 2011

    Bangkok: Setbacks in Europe's efforts to isolate a debt crisis before it blows up into an allout 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 dropped...
  • Italian borrowing costs reach breaking point November 9, 2011

    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 longpromised economic reforms. Italian 10year bond yields shot above the 7 per cent level that is widely deemed unsustainable, reflecting investors' concerns that...