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Ireland would like to see the euro zone issue common bonds as part of the solution to the bloc's debt crisis, the Irish deputy prime minister said. "It is an option I favor. It is one of a series of options that have to be looked at," Eamon Gilmore t
European Union leaders are poised to hold an emergency summit after finance ministers acknowledged for the first time that some form of Greek default may be needed to cut Athens' debts and to stop contagion spreading to Italy and Spain.
Moody's cut Ireland's credit rating to junk on Tuesday, warning that the debt-laden country would likely need a second bailout -- just the latest move amid heightening concerns about Europe's ability to address its debt crisis and prevent it from spr
In recent days, Italy has become Europe’s next weak link after Greece, Ireland, Portugal and Spain, harmed in particular by a power struggle between Prime Minister Silvio Berlusconi and his finance minister, Giulio Tremonti. The dispute threatens to
When one looks beyond the soft words of Jiabao, the real-world ramifications are startling. The Chinese government has embarked on the biggest people-moving experiment ever attempted. It wants to move some 300 million rural farmers to "urban environ
In a new report, Societe Generale argues that we're at the end of a cycle that began in 1980. The note is titled grandly: "A new world order, When demand overtakes supply."
Financial terrorism
China's booming economy has been showing signs of slowing down in recent months. Some economists say this is linked in part to rising levels of local government debt, which is the result of aggressive spending for projects like new airports, business
Vast deposits of rare earth minerals have been discovered on the seabed of the Pacific Ocean amounting to 1,000 times those on land, media reported on Monday citing a study by Japanese researchers. The deposits are estimated to amount to 100 billi
The Greek Parliament has just passed a plan for new austerity measures, but tensions remain high on the streets, showing that frustration levels are only growing.
Following the extraordinary news that the maid who brought rape charges against former IMF head and French presidential candidate Dominique Strauss-Kahn may have lied about the incident, the next question is…
Ray McGovern: My Take
Stuffing my backpack before setting out to board “The Audacity of Hope,” the U.S. boat to Gaza, I got a familiar-sounding call from yet another puzzled friend, who said as gently as the words allow, “You know you can get killed, don’t you?”
Ray McGovern: My Take
“There is for me an awareness of paying off a debt to the Jewish civil rights activists who faced death to come to the side of black people in the South in our time of need....
Ray McGovern: My Take
Israeli officials have actually bragged about “putting Gazans on a strict diet” — in other words, condemning them to a subsistence living just barely above the point where they would starve and perhaps subject Israel to charges of ethnic cleansing by
The EU will continue to prosper. What has taken place are only "bumps on the road."
As the government sits down to vote on tax hikes and spending cuts. It's viewed as the country's last chance to stave off default - something that could have ruinous consequences for the Euro.
Greek Prime Minister George Papandreou has told his fellow countrymen it is their patriotic duty to accept the austerity plan cooked up by the IMF and the EU. If not accepted, Greece will not get the fifth installment of an international bailout, he
Are you familiar with Robert Kiyosaki? He is best known for the "Rich Dad, Poor Dad" series of books. Over 26 million books authored by Kiyosaki have been sold and he is recognized as a financial expert by millions of people across the globe.
Wen Jiabao and David Cameron unveil new deals amid discussions on China's rights record and role in Libya conflict.
Decision taken to roll over holdings of maturing bonds as EU policymakers mull ways to share burden of rescue package.
Financial terrorism
European Union leaders promised more money to help Greece stave off looming bankruptcy, provided its parliament enacts an austerity plan finalized in fraught last-minute talks with international lenders. Greek Prime Minister George Papandreou prom
The head of PIMCO, the world's biggest bond fund, predicted that Greece and other European economies would default on their debts to resolve their problems as the euro area faces a debt crisis.
The rest of the world needs to sit up and take notice of what is going on in Greece right now. This is what can happen when you allow government debt to spiral out of control.
Are the powers-that-be in the midst of creating a planned depression? We call it planned because when analyzing what is going on the world, it is always necessary to keep in mind that the global economy is a pre-meditated one.
Well, it's always a little dangerous to make predictions about what's going to happen, but I think in this case the risk factor is pretty low, because that's all these fellows know how to do ... what is called QE1, QE2.
Ministers say emergency loans of 12bn euros postponed until debt-ridden country introduces further austerity measures.
The tumult in the European monetary zone is spreading concern among investors of a broader crisis in financial markets from Ireland to Spain. The worry is that the worst case, a Greek debt default, would lead to damaging losses for European banks and
Matthew Lynn suggests there will be numerous investment opportunities if the euro crumbles because of the Greek (and PIGS) budgetary crisis.
World stocks hit a three-month low on Thursday, the euro slumped to a one-month trough and top-rated government bonds rose as concerns intensified the lack of a deal on Greek debt might trigger disorderly market moves. Euro zone officials are stru
