Topic: International Monetary Fund

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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.
France presidential elections: the candidates challenging Sarkozy

French President Nicolas Sarkozy is fighting for reelection in the April 22 presidential poll. Here are the top 5 presidential candidates.
Six reasons to keep America as No. 1 superpower

Many around the world say American decline would preserve global stability through a better balance of power. They’re wrong, says Steve Yetiv, a political science professor at Old Dominion University. It’s not that other countries or international institutions can’t play vital roles. They do. But they can't yet do what Washington does around the world, Yetiv says. Here he gives six examples.
World's cheapest gas: Top 10 countries

While Americans and Europeans bemoan the cost of gasoline at the pumps, people in some other parts of the world enjoy filling up their tanks cheaply thanks to subsidies provided by wealthy, oil-rich governments. Here are the 10 cheapest countries on Earth to fill a gas tank.
Greek bailout: 5 key conditions set by EU

European Union leaders agreed to a €130 billion ($172 billion) bailout deal for Greece early this morning after a long night of negotiations. Here are five key elements of the bailout deal.

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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.
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.
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.
Is Canada about to face US-style housing meltdown?

Skyrocketing home prices in Canada, particularly in cities like Toronto, are fueling concerns that Canadians are overspending as they assume – as the US did – that real estate prices can only go up.
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.
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.
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.
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.
Oil prices will rise, Iran says, if embargo comes

Oil prices will go up if European Union goes through with a total embargo on Iranian crude in July, Iran's economy minister says. IMF has warned oil prices could rise as much as 30 percent if Iran halts exports.
As its banking woes mount, Spain ponders where to go from here

Its banks struggling, Spain has moved closer to needing a bailout. But some argue the takeover of Bankia and other measures could mark the beginning of movement toward greater stability.
Keep Calm
Good Reads: on optimism, rise of a global middle class, and geek revivals

It may be easy to feel down in an election year, but between the rise of the global middle class and a geek resurgence, there are reasons for hope.
Caretaker government for Greece until June elections

Panagiotis Pikramenos, a senior judge, will lead an interim government of 16 until elections are held.
Briefing
What would a Greek exit from the eurozone look like?

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.
Tax VOX
JPMorgan and the London Whale: Should we tax securities investments?

Ever since the U.S. financial crash of 2008 and the beginnings of the pending Euro-zone financial collapse, governments have been debating whether securities transactions should be subject to a new tax. Such a levy would discourage bad behavior in the financial markets, but it could have dire unintended consequences.
Greece has only one chance left to avoid another election

Socialist party leader Evangelos Venizelos today became the third politician this week to fail at forming a coalition government. If the president does too, Greece will head back to the polls.
Greek impasse deepens as talks fail

Three days after Sunday's election, parties failed again to form a coalition government. A new election may be on the horizon if no majority can come together.
Is Greece headed for do-over election?

Greece's far-left party Syriza, which came in second in elections, failed to form a coalition with either mainstream party today. Third-place PASOK will get a chance next, but its prospects seem dim.
Greek political disarray, worries about Spain push euro to three-month low

Greece has still not formed a government, imperiling its bailout and increasing the chances of it being forced out of the eurozone.
Leftist Greek leader ready to walk away from EU bailout deal

Alexis Tsipras has the presidential mandate to end the Greek political impasse by forming a governing coalition by Thursday.
No government yet for Greece after Sunday's election

Voters sent a strong message of anger over austerity measures imposed by Greece's foreign lenders, but with no party in the majority a government has yet to be formed.
Hollande, the man 'no one saw coming,' prepares to lead France (+video)

Once characterized as unassuming and almost banal, France's president-elect, François Hollande, is now being tagged as 'savvy' and 'steely.'
Germany frets, markets falter over French and Greek election results

In Germany, the results of yesterday's elections are seen as a refusal to follow the austerity plan hammered out by European leaders in long, painful negotiations.
French president-elect Hollande promises 'kinder, gentler austerity' (+video)

As leader of Europe's No. 2 economy, French President-elect François Hollande has the power to challenge German Chancellor Angela Merkel's austerity doctrine.
Greece election results cause problems for bailout plans (+video)

Elections in Greece over the weekend saw both far-right and left-leaning politicians gain seats in parliament, setting up a fight over the country's economic future.
Hollande wins French presidency, signals revisit of austerity (+video)

Socialist candidate François Hollande defeated incumbent Nicolas Sarkozy for the French presidency in a vote that could reposition how the country responds to the eurozone crisis.