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Tag Archives: eurozone
Fresh humiliation for eurozone
China has said it is willing to bail out debt-ridden countries in the euro zone using its $2.7trillion overseas investment fund. In a fresh humiliation for Europe, Foreign Ministry spokesman Jiang Yu said it was one of the most important … Continue reading
How to resign from the club
MEMBERSHIP of the euro is meant to be for keeps. Europe’s currency union is supposed to be immune from the sort of speculative attack that cracked the exchange-rate mechanism, the system of currency pegs that preceded it, in 1992-93. A … Continue reading
Euro Zone Is Imperiled by North-South Divide
LISBON — Sara Vale Lima, sales manager at Eical, a Portuguese textile company, feels suffocated by the euro. The common currency once meant flush banks and easy credit, but these days it has laid bare a cold reality: Portugal shares … Continue reading
Eurozone in crisis as Irish bailout fails to assuage investor fears (1)
Confidence in the eurozone was further eroded this morning as the cost of insuring government debt rose sharply to record levels, and the euro hit a 10-week low. The financial markets continued to punish the peripheral members of the eurozone, … Continue reading
Hague sparks diplomatic row (3)
William Hague sparked a diplomatic row yesterday by suggesting that the Irish debt crisis could lead to the total disintegration of the euro. Asked if he thought that Ireland’s crippled banks could cause the collapse of the EU currency, the … Continue reading
Nicolas Sarkozy and French unions clash again
French train drivers launched an open-ended strike Monday night as Nicolas Sarkozy and France’s unions clashed again over raising the retirement age by two years. They will be joined by workers from throughout the French economy on Tuesday. Both groups … Continue reading
Ireland's Problems Have Euro Zone Worried (4)
The PIIGS are not out of the woods yet. Ireland’s ongoing economic woes have financial markets concerned that the country might need an EU bailout. A new round of austerity measures could trigger a downward spiral. Sean FitzPatrick, 62, couldn’t … Continue reading
Germany's secret to recovery (1)
At 3 p.m. on Wednesday, Andreas Schieve puts one last fitting on a Mercedes truck, hangs up his tools on the assembly line and attends a brief meeting to hand the line over to the night-shift workers. Then he walks … Continue reading
Spain’s unemployment devastates residents (1)
If you could peer into the very centre of the converging economic forces tearing at the fabric of Europe, you would find a small, politely bewildered man named Jaime Cadena. This week, Spanish Prime Minister José Luis Rodríguez Zapatero became … Continue reading
