Topic: European Economy
Top galleries, list articles, quizzes
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Briefing
What would happen if Greece exited the eurozone?
Rumors are rife of a Greek exit from the eurozone. While no country has yet dropped the common currency, there are some indications of what will transpire if Greece does.
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Where gas prices are highest
Gasoline is a very visible price, and closely watched by many drivers. Petroleum prices impact many products, from food to industrial production. While the cost of crude is the major factor in gasoline price volatility, some countries levy taxes on fossil fuels. Here are ten countries where high gas prices are the norm, according to British insurance firm Staveley Head.
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3 ways the US can start an economic 'reset' with Russia
After Russian President Vladimir Putin canceled his trip to Camp David for the G8 Summit this weekend, tensions between Russia and the US are running high. The United States must design a new relationship with this often difficult leader and his country. Washington needs a new reset that includes these three key components:
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Hollande's victory: The world ponders a major shift
François Hollande's victory may represent change for not just France, but Europe as a whole.
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A hard landing for China? Six top economists weigh in.
China's economy grew 8.9 percent last quarter, the slowest pace in 2.5 years, and on Monday Premier Wen Jiabao cut the nation's growth target for 2012 to 7.5 percent, an eight-year low. Worries of a Chinese hard landing, defined as a sharp and sudden deceleration in growth, have gained momentum. However, China has been proactive in its efforts to prevent a hard landing. It has fine-tuned its policies to curb inflation, boost domestic consumption, and prevent a housing bubble. The Chinese government intervened heavily from 1989 to 1991 to cool its economy, causing real growth in gross domestic product to plunge to 4.1 percent in 1989, from 11.3 percent the previous year. It stepped in again in 1993. And some argue that this time around it's no different, and that the government knows exactly what it is doing. So we asked six top China analysts whether they saw a hard or soft landing scenario and what we should keep an eye on.
All Content
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Dow plunges 275 points: Is stock market starting to smell recession?
A poor US jobs report Friday sent the stock market down sharply, and other economic data coming in from Europe and China also did not boost optimism.
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The New Economy
US jobs report: a cold blast of fear
US adds only 69,000 net jobs, the smallest gain in a year. Employers pull in their horns in the face of fears over the eurozone and worries about the US elections and the expiration of tax cuts.
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Spain capital flight doubles as risk of European bailout rises (+video)
Capital flight from Spain has doubled to a new record and the country has demanded the European Central Bank recapitalize its teetering financial system, warning that the alternative is a broader bailout that could rock the European economy.
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Robert Reich
US wages and Europe's austerity: the perfect storm
What if Europe and the US converged on a set of economic policies that brought out the worst in both – European fiscal austerity combined with a declining share of total income going to workers? Given political realities on both sides of the Atlantic, it is entirely possible.
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As Ireland votes on EU treaty, many ask if it's worth cost of membership (+video)
The strict rules of the EU fiscal treaty Ireland votes on today essentially block stimulus spending, and many Irish worry the country is stuck in an austerity-driven slump.
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Greeks shrug off Europe's warnings that turmoil could get worse (+video)
Europe's dire warnings to Greece about the consequences of a potential default engender little fear among Greeks, who say the worst has already arrived.
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EU calls for "banking union" to fight debt crisis
The European Commission proposed Wednesday that such a body should oversee banks directly, sidestepping national governments.
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Briefing
What would happen if Greece exited the eurozone?
Rumors are rife of a Greek exit from the eurozone. While no country has yet dropped the common currency, there are some indications of what will transpire if Greece does.
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US Treasury bond yields hit record low as eurozone worries mount
A decline in global stock prices Wednesday shows that many investors are taking sanctuary in US Treasury bonds, anticipating major convulsions in the eurozone – and perhaps its breakup.
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Strengthen the euro and reform the European Commission
At a time of European debt crisis, when some see a common currency as a straightjacket, Europe must follow through and strengthen the euro. Europe must also move on political reform. One place to start: Elect the president of the European Commission, the EU's executive arm.
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Woman rescued from rubble after earthquake in Italy (+video)
A woman in Cavezzo, Italy, was pulled alive from the rubble of her home Wednesday. The death toll from Tuesday's northern Italy earthquake has risen to 17.
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Stefan Karlsson
The case for a German value added tax
The continuing eurozone crisis has economists debating the case for a value added tax, or whether or not the German surplus be reduced without reducing (and preferably in fact increasing) German incomes.
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Stefan Karlsson
Europe can strengthen Greece without weakening Germany
Some experts warn that Greece can't reduce its current deficit unless Germany and other better-off nations reduce their surpluses. Here's why they're wrong.
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EU still looking for way forward on Greece, growth, and euro zone
The latest summit in Brussels concluded with wide agreement that something needs to be done but with little consensus on what to do.
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Stocks rally to erase steep losses
Stocks closed mixed Wednesday after a late rally erased steep losses. The Dow lost seven points to close at 12496
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Where gas prices are highest
Gasoline is a very visible price, and closely watched by many drivers. Petroleum prices impact many products, from food to industrial production. While the cost of crude is the major factor in gasoline price volatility, some countries levy taxes on fossil fuels. Here are ten countries where high gas prices are the norm, according to British insurance firm Staveley Head.
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Global News Blog
Amid eurozone turmoil, Germany borrows money for free
Germany sold $5.7 billion of debt today to yield 0 percent, a reflection of how much Europe's largest economy has diverged from its southern neighbors who are paying far more to borrow.
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Gordon Brown: Europe needs a global rescue
The G8 summit at Camp David failed to find a plan for economic growth in Europe and to deal with a euro crisis that goes beyond debt. It may seem strange to propose that the world’s second-richest continent needs a global rescue. But today’s European consumers are too fearful to spend.
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OECD concerned that eurozone crisis could threaten world recovery (+video)
The Organization of Economic Cooperation and Development said Tuesday the eurozone must get member nations with debt problems under control, so as to not pose problems for a less than robust world economic recovery.
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Stefan Karlsson
Will Greek default really mean leaving the EU?
German leaders have warned that if Greece cancels its austerity measures, Germany and others will stop funding the Greek budget deficit. That may not necessarily mean that Greece will be forced to exit the EU and reintroduce the drachma.
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France says 'oui' to euro bonds, but Germany says 'nein'
German finance official says Berlin continues to oppose euro bonds, which would create debt backed jointly by European Union nations. EU members meet Wednesday in Brussels to discuss euro bonds and other growth-enhancing policies.
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Gold prices to climb if Greece gets fixed
Gold prices fall when dollar strengthens, as it has during latest Greek crisis. Gold prices will recover when Greece's path is clear, says a gold expert.
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Obama, G-8: Recovery takes both growth and cutting
Confronting an economic crisis that threatens them all, President Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge.
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G8 summit: Euro crisis and possible 'Grexit' overshadow agenda
The G8 leaders hosted by Obama at Camp David have several global issues on their minds: Syria, nuclear proliferation, famine. But the eurozone debt crisis is once again the dominant concern.
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3 ways the US can start an economic 'reset' with Russia
After Russian President Vladimir Putin canceled his trip to Camp David for the G8 Summit this weekend, tensions between Russia and the US are running high. The United States must design a new relationship with this often difficult leader and his country. Washington needs a new reset that includes these three key components:
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