Tuesday, April 12, 2011

Euro Crisis

DPA

Endangered Currency

First Greece -- then Ireland, Italy, Spain and Portugal: The European common currency has come under pressure from large national debts and the effects of the global financial crisis, ultimately requiring a rescue package close to a trillion euros.

The Never-Ending Crisis

Greek Debt Restructuring Looks Inevitable

SPIEGEL ONLINE - 11.04.2011

Europe's sovereign debt crisis is threatening to take on new dimensions as Portugal becomes the third euro-zone member to ask the EU for a bailout. Germany is opposed to giving Greece any more financial aid, meaning that Athens will have little choice but to restructure its debt.By Peter Müller, Christian Reiermann and Christoph Schult mehr...

Combating Debt and Inflation

European Central Bank Faces Interest-Rate Dilemma

SPIEGEL ONLINE - 08.04.2011

The European Central Bank wants to show toughness. On the day Portugal requested a multi-billion-euro bailout package, the ECB moved to raise interest rates for the first time in nearly three years. But the interest rate increase remains far too small, and success is highly questionable. An Analysis by Henrik Müller mehr... [ Forum ]

The World from Berlin

'Euro-Zone Leaders Need the Courage to Tell the Truth'

SPIEGEL ONLINE - 08.04.2011

A day after Portugal formally requested aid from the European Union to help ease ongoing debt problems, Madrid on Friday insisted that it was "out of the question" that Spain would be next. German commentators aren't so sure, and say that it's time for European leaders to reveal the true extent of the problems. mehr...

Kissing an Era Goodbye

To Fight Inflation, Europe Ends Cheap Money Strategy

SPIEGEL ONLINE - 07.04.2011

The era of cheap money is ending: For the first time since the financial crisis, the European Central Bank raised interest rates by a quarter point to 1.25 percent on Thursday. ECB President Jean-Claude Trichet wants to limit inflation and apply the brakes on speculators. mehr... [ Forum ]

'A Grave Moment for Our Country'

Portugal Forced to Request EU Bailout

SPIEGEL ONLINE - 07.04.2011

Portuguese Prime Minister Jose Socrates has been insisting for months that he would not ask the EU for help. But on Wednesday he announced he was doing just that, after bond yields reached an unsustainable level. The bailout could amount to as much as 80 billion euros.mehr...

Time for a Haircut?

IMF Pressures Greece to Restructure Debt

SPIEGEL ONLINE - 04.04.2011

The International Monetary Fund has been pushing Athens behind the scenes to restructure its debt. The organization no longer believes that the current austerity measures and EU bailout will be enough to extract Greece from its fiscal mire. mehr...

New Euro Threat Emerges

Irish Banks Fail Stress Tests

SPIEGEL ONLINE - 01.04.2011

Ireland's banks performed so badly in the latest EU stress tests that the country's last remaining major independent financial institutions will likely be nationalized. The entire banking sector is set to radically shrink, but that might carry significant risks for Ireland's European partners. By Carsten Volkery mehr... [ Forum ]

Castles in the Sky

The Fundamental Problem with Efforts to Save the Euro

SPIEGEL ONLINE - 30.03.2011

In the battle to save its common currency, Europe is too busy focusing on the same old failed policies. Rather than set aside ever higher sums for bailouts, the bloc needs to set up an independent institution to oversee the debts of EU nations. An Essay by Michael Sauga mehr... [ Forum ]

Breakthrough in Brussels

European Leaders Agree to Euro Rescue Program

SPIEGEL ONLINE - 25.03.2011

EU leaders achieved a breakthrough in Brussels on Thursday night, reaching a deal on the permanent crisis fund that will come into effect in 2013. Nevertheless, worries that Portugal could soon require emergency aid money loomed large over the talks. By Sven Böll in Brussels mehr... [ Forum ]

Solving the Euro Crisis

'At Some Point, People Will Speculate against Germany'

SPIEGEL ONLINE - 24.03.2011

European leaders are gathered in Brussels on Thursday and Friday to hammer out a long-term solution to the euro's problems. SPIEGEL ONLINE spoke with German government advisor Lars Feld about the dangers posed by Greece, the fragility of European banks and why Germany must begin paying down its debt. mehr...

Prime Minister Resigns

EU Bailout Looms as Portugal Government Collapses

SPIEGEL ONLINE - 24.03.2011

Portugal's Prime Minister Jose Socrates has resigned after the country's parliament rejected his latest package of austerity measures. His move makes it more likely that the cash-strapped nation will have to ask the European Union for a bailout. By Stefan Schultz mehr... [ Forum ]

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