Debt Crisis | GlobalPost

European Central Bank keeps benchmark euro zone interest rate at 1%

Luke BrowneFebruary 9, 2012 12:24

The bank’s president, Mario Draghi, said the final three months of 2011 had been very weak, but that recent evidence indicated some stabilization among euro zone members.

German opposition politicians slam Merkel for backing Sarkozy

Siobhan DowlingFebruary 7, 2012 12:26

Berlin — What would become of ‘Merkozy’ and, more importantly, her crisis-driven vision for reshaping Europe, without her side-kick in Paris?

Greece emergency bailout talks delayed as France and Germany increase pressure

Luke BrowneFebruary 6, 2012 15:10

The heads of the three political parties in Greece’s national unity government have delayed a planned meeting to agree reforms until Tuesday

Greece talks on EU bailout terms to resume Monday

News Desk February 5, 2012 10:07

Finance Minister Evangelos Venizelos warned that an agreement must be finalized for Greece to avoid defaulting, while Euro Group President Jean-Claude Juncker ratcheted up the pressure on Athens, threatening to cut off funds if painful cuts could not be pushed through.

Euro zone unemployment hits highest level since currency born

Luke BrowneJanuary 31, 2012 08:49

Announcement comes a day after EU leaders meeting in Brussels promised to create millions of new jobs to try and rescue Europe’s sagging economy.

Germany warns Greece over bailout

Siobhan DowlingJanuary 30, 2012 15:11

BERLIN — Germany, frustrated with the slow pace of reform in Greece, warns that rescue is not inevitable.

Berlin resists pressure to give Greece more

Siobhan DowlingJanuary 27, 2012 13:39

BERLIN — Ahead of next week’s EU summit, pressure on Berlin is coming from all sides to dig deeper into its pockets to help Greece, but it is putting up fierce resistance.

Berlin revives crash-era Soffin bank bailout fund

Siobhan DowlingJanuary 26, 2012 10:34

Berlin — The German government insists the country’s banks are fine, but just in case, it has reactivated a rescue fund created during the mortgage crisis.

Critical Greek debt swap talks hit an impasse

Siobhan DowlingJanuary 25, 2012 09:45

Berlin — A key Greek debt relief deal has stalled as the euro zone rejects private creditors’ final offer on haircut terms.

IMF cuts global growth forecasts, saying world economy is 'deeply in the danger zone'

Luke BrowneJanuary 24, 2012 13:28

The Washington-based lender predicts that the world’s economy will grow by 3.25 percent this year, down from an earlier forecast of 4% in September.