€urosclerosis: Two elections

From Socialists Secure Majority in France By DAVID GAUTHIER-VILLARS And GABRIELE PARUSSINI PARIS—President François Hollande secured the parliamentary majority he says he needs to revive France’s economy and help repair the euro zone, after voters gave his Socialist Party a commanding lead in Sunday’s legislative elections. Because a Socialist-led coalition already controls the Senate, the …

Continue reading ‘€urosclerosis: Two elections’ »

€urosclerosis: The €urozone props up Spain with €100 billion

That’s roughly $125 billion, or roughly one month of Spain’s gross domestic product.1 Eurozone agrees to lend Spain up to €100 billion By Jan Strupczewski and Julien Toyer | BRUSSELS/MADRID | Sat Jun 9, 2012 8:27PM EDT (Reuters) – Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros ($125 …

Continue reading ‘€urosclerosis: The €urozone props up Spain with €100 billion’ »

€urosclerosis: A Greek is revolting

From Greek Leftist Leader Throws Down Gauntlet on Debt By JAMES ANGELOS And ALKMAN GRANITSAS ATHENS—The head of Greece’s radical left party says there is little chance Europe will cut off funding to the country and if it does, Greece will repudiate its debts, throwing down a gauntlet that could increase tensions between Greece’s recalcitrant …

Continue reading ‘€urosclerosis: A Greek is revolting’ »

€urosclerosis: The Greeks are revolting

From CNN: Greeks set election date amid possibility of bank panic From Antonia Mortensen and Matthew Chance, CNN | May 16, 2012 — Updated 1212 GMT (2012 HKT) Athens, Greece (CNN) — Greece will hold new elections on June 17, state media reported Wednesday, after Greeks pulled hundreds of millions of euros out the banking …

Continue reading ‘€urosclerosis: The Greeks are revolting’ »

€urosclerosis: the Tower of Pisa leans further still

From The Telegraph: Italy’s banks shaken as economic slump deepens As Greece erupts, Italy is moving into the eye of the storm. Its economy is contracting at speeds not seen since the depths of the slump in 2009 as draconian austerity bites, greatly increasing the risk of social revolt and a banking crisis. By Ambrose …

Continue reading ‘€urosclerosis: the Tower of Pisa leans further still’ »

€urosclerosis: The Greeks are revolting

From European Officials Warn Greece By COSTAS PARIS, GEOFFREY T. SMITH and VANESSA MOCK BRUSSELS—European finance ministers urged Greece to stay the course on Monday, warning the country it risks being ejected from the European Union if it doesn’t form a new government and stick to the terms of its bailout deal. While several finance …

Continue reading ‘€urosclerosis: The Greeks are revolting’ »

€urosclerosis: The Greeks are revolting! Updated: Standard & Poors raises Greece’s credit rating to junk status

From May Day Protesters Take Aim at Austerity By DARCY CROWE and ART PATNAUDE in Madrid and ALKMAN GRANITSAS in Athens Demonstrators turned out in large numbers for May Day rallies in hard-hit European countries on Tuesday, protesting their governments’ push for austerity and flexing populist muscle ahead of key Greek and French elections. Protesters …

Continue reading ‘€urosclerosis: The Greeks are revolting! Updated: Standard & Poors raises Greece’s credit rating to junk status’ »

€urosclerosis: Can Europe save itself? And can we learn from their mistakes?

From Geithner to Europe: Take Strong Action on Debt Crisis By Ian Talley WASHINGTON—U.S. Treasury Secretary Timothy Geithner said Saturday that the euro zone needed stronger action from authorities, including the European Central Bank, to tame a potential deterioration in the debt crisis. “The success of the next phase of the crisis response will hinge …

Continue reading ‘€urosclerosis: Can Europe save itself? And can we learn from their mistakes?’ »

€urosclerosis: The Portuguese are revolting!

They’ve lived beyond their means for years, and now they are upset that they can’t do that anymore. From Portugal Hit by Strike By Patricia Kowsmann LISBON—A nationwide strike against austerity measures froze public-transport services, shrank hospital staffs and disrupted trash collection across Portugal on Thursday, but there were signs that fewer people joined in …

Continue reading ‘€urosclerosis: The Portuguese are revolting!’ »

€urosclerosis: The Greek bailout

From Europe Reaches a Greek Deal By Geoffrey T. Smith, Ainsley Thomson and Costas Paris BRUSSELS—Euro-zone finance ministers early Tuesday agreed to an ambitious €130 billion ($172.1 billion) rescue deal that will see Greece’s private creditors take an even larger loss in order to put the debt-laden country on a sustainable footing and avert a …

Continue reading ‘€urosclerosis: The Greek bailout’ »