Tag Archives: eu debt

World facing worst financial crisis in history, Bank of England Governor says (8)

The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night. Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee … Continue reading

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Spain’s white elephants – how country’s airports lie empty (10)

Only 11 of Spain’s 48 regional airports are profitable and its newest project has yet to see a single passenger through its terminal. The gleaming new air traffic control tower shimmers in the midday heat, visible for miles around, it … Continue reading

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Harris: Frankenstein finance (11)

A spectre is haunting Europe: the spectre of capitalism. A vast and highly unstable mixture of debt — trillions of dollars of sovereign, corporate and private borrowing accumulated over decades — is strapped to the advanced Western economies like a … Continue reading

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IMF ‘can’t afford to save the Euro’ as it emerges that current threat is ‘worse than crisis in 2008′ (15)

The International Monetary Fund last night issued an extraordinary warning that it might not have enough cash to stem the crisis engulfing the Eurozone, prompting fears that Britain could be forced to find billions more to bail out  debt-stricken economies. … Continue reading

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Reguly: Saving Greece is just killing the euro zone (8)

When the gory euro zone debt crisis is dissected to determine what went wrong when, the “what” will, of course, be Greece and the “when” will be early 2010. By then, it should have been apparent to any sentient central … Continue reading

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Lloyd’s Exits EU Debt, Some Banks Amid Euro Zone Crisis (7)

LONDON (Dow Jones)–The Lloyd’s of London insurance market said Wednesday it had reduced its exposure to European government debt and pulled deposits from some of the region’s banks, joining a growing list of institutions that are limiting exposure to Europe … Continue reading

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Editorial: Action is needed to save Europe from paralysis (12)

At The Daily Telegraph’s Festival of Business in Manchester yesterday, George Osborne, the Chancellor, outlined the very welcome programme of initiatives the Government has launched to help enterprise and get the economy going again. But overshadowing his speech was a … Continue reading

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Obama warns eurozone ‘endgame’ in sight as debt crisis threatens to engulf Greece (11)

Barack Obama last night scorned the lack of leadership in the eurozone amid warnings that the ‘endgame’ for the single currency is ‘approaching fast’. The U.S. President called on Germany and France to take responsibility as the crisis in debt-riddled … Continue reading

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Markets in chaos as Greece lurches closer to the abyss (14)

Stock markets and the euro tumbled yesterday as debt-riddled Greece lurched towards bankruptcy. More than £22billion was knocked off the value of Britain’s blue-chip companies on a day of turmoil in dealing rooms across Europe. French bank shares dived more … Continue reading

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Evans-Pritchard: Germany and Greece flirt with mutual assured destruction (11)

Bild Zeitung populism has prevailed. Germany is pushing Greece towards a hard default, risking the uncontrollable chain reaction so long feared by markets. First we learn from planted leaks that Germany is activating “Plan B”, telling banks and insurance companies … Continue reading

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German Finance Minister Prepares for Possible Greek Bankruptcy (5)

With doubts growing about Greece’s ability to implement important savings measures and reforms, there are concerns that insolvency may be inevitable. In Germany, officials in Wolfgang Schäuble’s Finance Ministry are exploring what Athens’ financial collapse would mean for the euro zone. German … Continue reading

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