Spain’s borrowing costs “unsustainable”
14.06.12 Spain's borrowing costs have risen to 7% this morning, a level which is widely regarded as unsustainable. This is a Euro-era record high as Moody's cut Spain's credit rating to one notch above "junk" status.The increase comes just before...

Obama sees Europe 'consensus for progress'
20.05.12 President Barack Obama has said that there's an "emerging consensus" that more must be done to promote jobs growth in Europe, following economic talks at Camp David.Obama's positive message follows an expression of hope on behalf of the...

G-8 leaders put focus on Eurozone crisis
19.05.12 The Eurozone debt crisis is expected to dominate the summit of the G8 group of major world economies this weekend. President Barack Obama and leaders of Germany, France, Canada, Italy, Britain, Russia, and Japan were looking to build...

G-8 leaders hope for Greece eurozone stay
19.05.12 The United States and other members of the Group of Eight industrial nations expressed hope Saturday that Greece will remain in the Eurozone, anxious to keep its economic troubles from spreading around the world.The leaders said all of...

16 Spanish banks downgraded
18.05.12 Ratings agency Moody's has downgraded 16 Spanish banks, as fears grow about the stability of the country's financial sector.    Ten of the banks have also been put on negative credit watch, meaning further downgrades are...

Interim Greek cabinet sworn in
17.05.12 Greece has sworn in a caretaker cabinet that will lead the country into elections next month. The 16-member cabinet is mainly comprised of university professors, former ministers and diplomats.The emergency government is headed up by a...

Noonan lifts economic mood as Greece prepares for elections
16.05.12 The Minister for Finance delivered a positive outlook for the Irish economy today, saying that a Greek exit from the Eurozone would not have a dramatic effect on Ireland. As Athens undergoes preparations for new elections on June 17th,...

Hollande and Merkel meet
16.05.12 Talks have taken place between the new French Preisdent Francois Hollande and the German Chancellor about the European crisis.   Both leaders pledged their support to try and keep Greece in the Euro.   The meeting was...

Hollande sworn in as French President
15.05.12 The new French President, Francois Hollande, has been sworn in.The inauguration ceremony, which took place at the Elysee Palace in Paris, was a low-key affair and was not attended by any other heads of state. Mr Hollande was keen...

Greece talks to continue
15.05.12 Further talks on forming a Government will resume in Greece today, but the threat of new elections is still a real possibility. The Greek President has suggested that politicians stand aside to allow technocrats or a panel of experts in...