Articles About European Central Bank

Greece’s dire financial crisis is taking a toll on the nation’s psyche in more ways than mere worries over whether the economy will survive. A team of technical experts, primarily from the European Union (EU), are in Greece monitoring the state of its debt-stricken economy – and they are well aware of how dire the situation […]

World Bank President Robert Zoellick believes the world will not slide into a double-dip recession. Zoellick was in Singapore, attending an economic conference amid plummeting world stock prices and worries over a slowdown in U.S. economic growth.  Zoellick believes the United States and the world will avoid a “double-dip” recession, but admitted that growth is […]

Italian Prime Minister Silvio Berlusconi said he would speed the passage of a 40 billion-Euro ($56 billion) deficit-cutting plan to stop a market selloff that threatens Europe’s single currency.  The “crisis prompts us to speed up” approval of the budget cuts, Berlusconi said since Italian stocks lost nearly 7.5 percent over two sessions and bond […]

European finance ministers are working to resolve a quandary over how to talk banks into “voluntarily” contributing to a second Greece bailout and avoiding a destructive debt default. This attempt to rescue Greece’s finances hinges on how far banks, pension funds and insurers will accept new terms on old debts prior to repayment by Athens.  […]

Portugal has become the third European nation to accept a financial bailout to the tune of € 78 billion, with € 12 billion going directly to the Iberian nation’s banks.  It is the third of four PIGS nations (Portugal, Ireland, Greece, Spain) to require a bailout.  Caretaker Prime Minister Jose Socrates announced that he had […]

The Federal Reserve is unlikely to follow the European Central Bank’s (ECB) recent decision to raise interest rates and will hold off until there is looming inflation.  The ECB’s move may be the first of several this year as high oil costs drive consumer prices above its target.  That’s not to say that some members […]

Iceland’s economic collapse, the result of a reckless government and a lack of financial regulation, is an object lesson to Americans who fear increased — but necessary – markets oversight. Icelandic debt is 10 times the country’s GDP!  In the United States, our debt would have to be close to $100 trillion to put us […]