Europe Debt Crisis http://www.globalpost.com/taxonomy/term/20378/all en Can Germany save Europe? Will it? http://www.globalpost.com/dispatches/globalpost-blogs/macro/can-germany-save-europe-debt-crisis <div class="field field-type-text field-field-subhead"> <div class="field-items"> <div class="field-item odd"> An extraordinary plea today aimed at Berlin. It comes from an unlikely place. </div> </div> </div> <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomas Mucha </div> </div> </div> <!--paging_filter--><p> Europe&#39;s ongoing debt crisis took another very dramatic turn today.</p> <p> And it came from a most unlikely place, considering Germany&#39;s long and difficult history: Poland.</p> <p> Here&#39;s what Polish foreign minister&nbsp;Radoslaw Sikorski said in a speech Monday in the German capital, <a href="http://www.ft.com/intl/cms/s/0/d29da7fc-19ee-11e1-b9d7-00144feabdc0.html#axzz1f2Hgidim" target="_blank">as reported by the Financial Times</a>:</p> <blockquote><p> &quot;I demand of Germany that, for your own sake and for ours, you help it survive and prosper,&rdquo; he said. &ldquo;You know full well that nobody else can do it. I will probably be the first Polish foreign minister in history to say so, but here it is: I fear German power less than I am beginning to fear German inactivity. You have become Europe&rsquo;s indispensable nation.&quot;</p> </blockquote> <p> So much for fear of <a href="http://en.wikipedia.org/wiki/4th_Panzer_Division_(Germany)" target="_blank">German panzer divisions</a>.</p> <p> The speech was also <a href="http://www.ft.com/intl/cms/s/0/b753cb42-19b3-11e1-ba5d-00144feabdc0.html#axzz1evFui9qd" target="_blank">republished in its entirely by the FT</a>.&nbsp;</p> <p> In it, Sikorski was blunt throughout.</p> <p> It&#39;s an incredibly lucid and forthright account of the troubles facing Europe (and Germany) right now, so I&#39;ll point you to three more key points that the Polish diplomat made.&nbsp;</p> <p> He urged, among other things, a stronger role for the ECB:</p> <blockquote><p> &quot;As long as the European Council sets in stone tough new rules, the European Central Bank should become a proper central bank, a lender of last resort that underpins the credibility of the entire eurozone,&quot; Sikorski said.</p> </blockquote> <p> He also promised Germany that Poland could help save the euro zone:</p> <blockquote><p> &quot;Poland can play an important role in saving Europe. In the last four years, our accumulated growth of gross domestic product amounted to 15.4 percent.&quot;</p> </blockquote> <p> Sikorski ended his Polish pep talk with this dire warning:</p> <p><a href="http://www.globalpost.com/dispatches/globalpost-blogs/macro/can-germany-save-europe-debt-crisis" target="_blank">read more</a></p> Europe Debt Crisis Macro Mon, 28 Nov 2011 21:37:00 +0000 Thomas Mucha 5682737 at http://www.globalpost.com A euro zone break-up: Will it wreck the global economy? http://www.globalpost.com/dispatch/news/business-tech/111129/euro-zone-debt-crisis-global-economy-europe-greece-spain-italy <p> BOSTON &mdash; A euro zone break-up would not be a happy outcome for anyone &mdash; Germans, Greeks, Spaniards, or yes, Americans, Chinese and just about everyone else.</p> <p><a href="http://www.globalpost.com/dispatch/news/business-tech/111129/euro-zone-debt-crisis-global-economy-europe-greece-spain-italy" target="_blank">read more</a></p> Europe Debt Crisis Global Economy Business Debt Crisis France Brazil Europe Germany China Global Economy Italy Poland Spain Wed, 30 Nov 2011 11:16:00 +0000 Thomas Mucha 5682811 at http://www.globalpost.com Is Mario Monti's honeymoon over? http://www.globalpost.com/dispatch/news/regions/europe/italy/111130/mario-monti-euro-zone-debt-crisis-berlusconi <p> ROME &mdash; &quot;Italy is like a train left behind on an abandoned track, full of people arguing over who gets the window seat,&quot; said Stefano Quintarelli, a frequent commentator.</p> <p><a href="http://www.globalpost.com/dispatch/news/regions/europe/italy/111130/mario-monti-euro-zone-debt-crisis-berlusconi" target="_blank">read more</a></p> Debt Crisis euro zone crisis Europe Debt Crisis World Leaders Debt Crisis Italy Thu, 01 Dec 2011 11:15:39 +0000 Eric J. Lyman 5682985 at http://www.globalpost.com Italian PM to give up salary, as cabinet agrees 30bn euro austerity plan http://www.globalpost.com/dispatch/news/regions/europe/italy/111205/italy-PM-monti-salary-cabinet-30bn-euro-budget-plan <p> Italy&#39;s Welfare Minister, Elsa Fornero, broke down in tears as she outlined the pension changes, which she said would be integrated with future labor reforms.</p> <p><a href="http://www.globalpost.com/dispatch/news/regions/europe/italy/111205/italy-PM-monti-salary-cabinet-30bn-euro-budget-plan" target="_blank">read more</a></p> Europe Debt Crisis Global Economic Crisis World Leaders Debt Crisis Europe Politics Global Economy Italy Mon, 05 Dec 2011 08:47:00 +0000 Amanda Morrow 5683282 at http://www.globalpost.com European Central Bank cuts interest, rules out 'bazooka' solution http://www.globalpost.com/dispatch/news/regions/europe/111208/european-central-bank-cuts-interest-rules-out-bazooka <p> ECB president Mario Draghi also promised to offer banks unlimited credit for three years; to cut reserve requirements for commercial banks; and to accept a broader range of assets as collateral for ECB loans.</p> <p><a href="http://www.globalpost.com/dispatch/news/regions/europe/111208/european-central-bank-cuts-interest-rules-out-bazooka" target="_blank">read more</a></p> ECB Europe Debt Crisis European Debt Crisis Debt Crisis Europe Global Economy Italy Thu, 08 Dec 2011 16:13:00 +0000 News Desk 5683704 at http://www.globalpost.com Europe agrees new fiscal union treaty - without UK http://www.globalpost.com/dispatch/news/regions/europe/111209/europe-agrees-new-fiscal-union-treaty-without-uk <p> After 10 hours of talks, all 17 countries that use the single currency and six others decided to negotiate a new agreement that will sit alongside the existing EU treaty.</p> <p><a href="http://www.globalpost.com/dispatch/news/regions/europe/111209/europe-agrees-new-fiscal-union-treaty-without-uk" target="_blank">read more</a></p> EU summit euro zone crisis Europe Debt Crisis European Union World Leaders Debt Crisis France Europe Germany Politics Global Economy United Kingdom Fri, 09 Dec 2011 12:37:00 +0000 Jessica Phelan 5683793 at http://www.globalpost.com Euro zone sovereign debt crisis: Six lessons for the US http://www.globalpost.com/dispatch/news/regions/europe/111213/euro-zone-sovereign-debt-crisis-lessons-for-us <p> NEW YORK &mdash; Although it may be tempting for Americans to believe that d<em>er schuh</em> is on the other <em>fuss, </em>Europe&#39;s crisis may soon be our own.</p> <p><a href="http://www.globalpost.com/dispatch/news/regions/europe/111213/euro-zone-sovereign-debt-crisis-lessons-for-us" target="_blank">read more</a></p> euro debt crisis euro zone crisis Europe Debt Crisis Europe Opinion Wed, 14 Dec 2011 11:33:00 +0000 Michael Moran 5684177 at http://www.globalpost.com Euro's 10th anniversary: no celebrations planned http://www.globalpost.com/dispatch/news/regions/europe/111231/euro-10th-anniversary-birthday-celebration-brussels <p> The euro declined against the dollar for the second year in a row, sinking 3.2 percent to $1.2961 against the dollar in New York, Bloomberg News reported.</p> <p><a href="http://www.globalpost.com/dispatch/news/regions/europe/111231/euro-10th-anniversary-birthday-celebration-brussels" target="_blank">read more</a></p> BeNeLux euro Europe Debt Crisis Business Debt Crisis Europe Sat, 31 Dec 2011 21:36:02 +0000 Samantha Stainburn 5685587 at http://www.globalpost.com How to make a killing on the euro crash http://www.globalpost.com/dispatch/news/regions/europe/120516/how-make-killing-the-euro-crash BOSTON — It's an axiom of modern capitalism, almost as certain as death and taxes: No matter how bad an economic crisis gets, someone is bound to get rich from it. Very rich. Here’s how they’ll do it this time. <p><a href="http://www.globalpost.com/dispatch/news/regions/europe/120516/how-make-killing-the-euro-crash" target="_blank">read more</a></p> Europe Debt Crisis Debt Crisis Europe Thu, 17 May 2012 10:15:00 +0000 David Case 5704484 at http://www.globalpost.com Business Insider: European Central Bank report causes market rebound http://www.globalpost.com/dispatch/news/business/debt-crisis/120612/business-insider-european-central-bank-report-market-rebound At least one euro-zone watcher thinks Europe's end-of-day market rebound may have been caused by the European Central Bank's recent financial stability report.<p><a href="http://www.globalpost.com/dispatch/news/business/debt-crisis/120612/business-insider-european-central-bank-report-market-rebound" target="_blank">read more</a></p> Europe Debt Crisis European Central Bank stock markets Debt Crisis Europe Tue, 12 Jun 2012 18:04:00 +0000 Joe Weisenthal, Business Insider 5707644 at http://www.globalpost.com Europe is setting itself up for massive disappointment http://www.globalpost.com/dispatch/news/business/debt-crisis/120730/european-central-bank-statements-investors-hopes-disappointment-bond-buying-program Headlines generated by some promising statements from European Central Bank President Mario Draghi late last week have stirred investor belief that European leaders — and in particular the ECB — are about to announce some game-changing crisis-averting measures. But investors shouldn't get ahead of themselves just yet. <p><a href="http://www.globalpost.com/dispatch/news/business/debt-crisis/120730/european-central-bank-statements-investors-hopes-disappointment-bond-buying-program" target="_blank">read more</a></p> Europe Debt Crisis European Central Bank World Leaders Business Debt Crisis France Europe Germany Politics Italy Spain United Kingdom Mon, 30 Jul 2012 16:40:00 +0000 Simone Foxman, Business Insider 5714166 at http://www.globalpost.com Euro zone unemployment rate hits record 11.2% in June http://www.globalpost.com/dispatch/news/regions/europe/120731/euro-zone-unemployment-rate-hits-record-112-june “There looks to be a very real danger that the euro-zone unemployment rate could reach 12 percent in 2013.”<p><a href="http://www.globalpost.com/dispatch/news/regions/europe/120731/euro-zone-unemployment-rate-hits-record-112-june" target="_blank">read more</a></p> Europe Debt Crisis Business Debt Crisis Europe Tue, 31 Jul 2012 12:11:00 +0000 Allison Jackson 5714301 at http://www.globalpost.com Italy's Monti blasts democracy http://www.globalpost.com/dispatch/news/regions/europe/italy/120806/italys-monti-blasts-democracy Italian PM Mario Monti is the only leader of a huge, developed "democracy" who didn't get into their position by winning an election. Now he's apparently infuriated the rest of Europe by criticizing a key tenet of a democratic system.<p><a href="http://www.globalpost.com/dispatch/news/regions/europe/italy/120806/italys-monti-blasts-democracy" target="_blank">read more</a></p> Europe Debt Crisis European Central Bank Mario Monti World Leaders Business Debt Crisis Diplomacy Europe Politics Italy Mon, 06 Aug 2012 21:00:00 +0000 Joe Weisenthal, Business Insider 5715174 at http://www.globalpost.com EU approves overhaul of Spain's troubled banks http://www.globalpost.com/dispatch/news/regions/europe/121128/eu-approves-overhaul-spains-troubled-banks Bankia will have to lay off 6,000 workers and close 1,100 branches as part of the overhaul deal. <p><a href="http://www.globalpost.com/dispatch/news/regions/europe/121128/eu-approves-overhaul-spains-troubled-banks" target="_blank">read more</a></p> Europe Debt Crisis Business Europe Spain Wed, 28 Nov 2012 17:17:00 +0000 Kaitlin Funaro 5727420 at http://www.globalpost.com