Topic: Olli Rehn

EU austerity hawks shrug off criticism of flawed academic paper

Despite a new paper detailing flaws in the Rogoff-Reinhart study that has been used to argue in favor of austerity policies, Europe's austerity advocates are holding course.

Japanese yen plunges to four-year low. G7 unlikely to act.

Japanese yen's plunge vs. the dollar makes its exports cheaper and its companies more competitive. G7 finance ministers will focus on the Japanese yen at talks in the UK this weekend.  

Global markets drop with no clear winner in Italian elections

Some election results in Italy are inconclusive, as of Tuesday. And world economic markets are reacting to the news in a negative manner.

EU says eurozone economy will shrink this year

Eurozone economy will contract 0.3 percent, the European Union predicts, but bottom out in the first half of 2013. Eurozone growth estimate for 2014: 1.4 percent. 

When Britain talks Europe exit, who cares about 'euro crisis'?

'Brexit' replaces 'Grexit' even as last year's prophets of doom go in hiding: Greek, Italian, Spanish crises seem on auto-pilot as continent's glitterati ski at swanky Davos.

European debt crisis: a dangerous week ahead

European debt crisis enters a dangerous phase with a German court ruling, Dutch election, and EU finance ministers meeting this week. A reversal of support for the EU's beleaguered nations could intensify the European debt crisis. 

Spain makes official debt bailout request

Spain bailout: The country has made a formal request for a loan  to help clean up its troubled banking sector. The Spain bailout could take up to $77.7 billion to help the country's banks survive.

The Circle Bastiat The euro exodus from Greece and Spain

Wary depositors are hauling billions of euros our of Greek and Spanish banks, reflecting the nervous mood of the people.

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. 

Biggest debt restructuring in history buys Greece only 'a bit of time'

Private investors agreed to write off 85.8 percent of Greece's private debt, but analysts warn that if Greece doesn't address underlying problems, the deal will not fix things for long.

Greece to investors: take a haircut so we can get our bailout (+video)

For Greece to receive its second international bailout, private lenders need to agree to a substantial debt write-off. The deadline for an agreement is tonight.

For bailout nations, new EU treaty is high price to pay

A new EU fiscal treaty could help keep national governments from overspending. But for EU nations already receiving bailouts, its conditions would be a big blow to their economies and national pride.

Greece secures last-minute bailout deal, but it will hurt

Greece has agreed to implement painful austerity measures – including a 22 percent cut in the minimum wage – in order to receive the money it needs to pay off debt due in March.

Greece, private investors struggle to agree on high-stake debt deal

The Greek government and private investors are locked in negotiations over how much Greek debt private investors will write off. 

Italian PM announces new austerity measures

Italian prime minister Mario Monti will present a new austerity plan to his country's parliament on Monday.

Jobs report eases US market, but EU feeling heat

A better-than-expected US jobs report helped abate selling pressures on Wall Street. But Europe's debt problems are pressuring EU officials to act.

European markets tumble as investors fear Italian default

Investors in Europe have set their sights on Italy, speculating that if a Greek bailout isn't approved and Athens defaults on its government debt, Italy is next.

Why Italy may need a bailout, too

With high debt and falling stocks, Italy appears to be the next European economy on the brink. Investors and European officials are now sounding alarm bells.

What's at stake in Greek confidence vote

If Prime Minister George Papandreou survives tonight's confidence vote, he will push for the austerity measures needed to secure further financial aid from EU and IMF to avoid a default.

Thinking the unthinkable: Let the euro-chips fall

French and German banks hold nearly a trillion euros worth of other European nations' debt: Ireland, Spain, Portugal, Italy, France, Greece. What would happen if they were allowed to collapse?

European debt crisis 101

A look back at the world since the advent of the euro.

Ireland's $90 billion question: Does it need a bailout?

Ireland is set to host EU and IMF officials Thursday in ongoing talks about a bailout for the debt-stricken nation.

Ireland gives thumbs down to EU bailout

EU ministers continue to worry that Ireland's debt crisis will drag down financial markets. Ireland says its debts are covered until mid-2011.

Thought bite: Quote for May 11, 2010

The Monitor's View: Greek debt crisis begets euro crisis. How much is it fear driven?

The fear of contagion from the debt crisis in Greece may have helped create the reality of it in financial markets.