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.

Step by Step: Merkel Lowers Expectations for Quick Euro Fix

Step by Step: Merkel Lowers Expectations for Quick Euro Fix

SPIEGEL ONLINE - June 07, 2012

Both Britain and the US want to see Europe move quickly toward a solution to the euro crisis. But Chancellor Merkel prefers a more methodical approach. In comments on Thursday morning, she sought to lower expectations ahead of the European Union summit in late June. more...

Interview with Greek Writer Nikos Dimou: 'We Like to Live Beyond Our Means'

Interview with Greek Writer Nikos Dimou: 'We Like to Live Beyond Our Means'

SPIEGEL ONLINE - June 07, 2012

In a SPIEGEL interview, Greek writer Nikos Dimou analyses the state of his country's psyche, describing the "deep fears that torment the Greek soul." He blames Greek politicians for the current crisis but insists the EU and Germany only have themselves to blame for the resentment that many Greeks feel. more... Comment ]

The World from Berlin: Spain's Bailout Refusal Is 'Kamikaze Politics'

The World from Berlin: Spain's Bailout Refusal Is 'Kamikaze Politics'

SPIEGEL ONLINE - June 06, 2012

Pressure is growing for Spain to tap into European Union bailout money to stem its banking crisis, but the country has stubbornly refused. Instead, Madrid hopes to get around bailout conditions with direct aid to its banks. German commentators on Wednesday say that the time for pride has passed. more...

European Bailout: Possible Deal Takes Shape on Aid for Spain's Banks

European Bailout: Possible Deal Takes Shape on Aid for Spain's Banks

SPIEGEL ONLINE - June 06, 2012

Spain has been reluctant to ask for European bailout money for its struggling banking sector. Now, a German newspaper is reporting that a possible compromise may have been found. With the Spanish economy struggling more than ever, a solution would come not a moment too soon. more...

Euro Troubles: The End of Germany's Illusions

Euro Troubles: The End of Germany's Illusions

SPIEGEL ONLINE - June 05, 2012

Germany's booming economy and plummeting unemployment has long insulated the country from the euro crisis on Europe's periphery. Those times, however, are coming to an end. The German economy is now showing it is vulnerable after all, and Chancellor Merkel will now be forced to make sacrifices. A Commentary by Stefan Kaiser more...

Combating the Crisis: Berlin and EU Weigh Greater Bank Oversight

Combating the Crisis: Berlin and EU Weigh Greater Bank Oversight

SPIEGEL ONLINE - June 05, 2012

Chancellor Merkel and European Commission President Barroso on Monday met to talk about creating a banking union to increase oversight over systemically important European banks. The move could mark a step toward providing direct aid from Brussels to ailing EU financial institutions. more...

Crisis Pushes Down Returns: Big Investors Don't Know Where to Put Their Cash

Crisis Pushes Down Returns: Big Investors Don't Know Where to Put Their Cash

SPIEGEL ONLINE - June 05, 2012

As the debt crisis makes government and bank bonds look increasingly unattractive, institutional investors are finding themselves with plenty of cash but nowhere to put it. Pension funds and insurance companies are desperately looking for safe havens which promise even modest returns. But some argue that the crisis creates opportunities for those with an appetite for risk. By Sven Böll and Martin Hesse more... Comment ]

Rising Currency Concerns: Berlin Wants Spain to Accept Bailout Money

Rising Currency Concerns: Berlin Wants Spain to Accept Bailout Money

SPIEGEL ONLINE - June 04, 2012

With Madrid struggling to recapitalize its struggling banking sector, Chancellor Angela Merkel is pressuring Spain to accept bailout money. Spanish premier Rajoy has thus far resisted the move, but with central banks in developing countries now rapidly reducing their euro holdings, the situation is becoming dire. more...

Banking Woes: Ireland Still Long Way from Overcoming Debt Crisis

Banking Woes: Ireland Still Long Way from Overcoming Debt Crisis

SPIEGEL ONLINE - June 04, 2012

Irish voters have approved the fiscal pact in a closely watched referendum, to the relief of European leaders. But the country is still a long way from solving its debt crisis, and its banks will soon need additional billions in fresh capital. By Christoph Pauly in Dublin more... Comment ]

'Sigh of Relief': Irish Approve Fiscal Pact in Referendum

'Sigh of Relief': Irish Approve Fiscal Pact in Referendum

SPIEGEL ONLINE - June 01, 2012

Ireland has approved the European fiscal pact in a closely watched referendum, averting a possible setback for a key element of Chancellor Merkel's approach to fighting the euro crisis. Although analysts say it's a sign of support for Europe, they point out that Ireland still has more serious problems to worry about. more... Comment ]

Growing Concern: World Bank Blasts Europe's Euro-Crisis Management

Growing Concern: World Bank Blasts Europe's Euro-Crisis Management

SPIEGEL ONLINE - June 01, 2012

Is the euro entering the end game? With Spanish banks on the brink and the Greek political situation uncertain, many senior economic leaders say that the time for drastic action is swiftly approaching. On Friday, World Bank head Robert Zoellick argued that it is almost time to "break the glass" on the emergency alarm. more...



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