On Tuesday, U.S. stocks rose in ahead of the upcoming EU summit later this week, during which financial leaders will discuss doubling the region’s rescue fund. “The market wants to go higher,” explained Dan Veru of Palisade Capital Management. “Europe is finally talking on a constructive manner to solving its problems. If they come up…
Category Archives: Regional News
German Finance Minister Reveals Detailed Proposal for Debt Crisis
German Finance Minister Wolfgang Schaeuble recently revealed the details of his national redemption fund proposal. The plan, which works to solve the sovereign debt crisis, will be presented at the EU leader meeting planned for next week. According to the proposal, states would place a piece of their debt in a designated national fund to…
Eurogroup Approves Plan for New Bond Issues
Financial disaster looms closer as Italy’s borrowing costs increase dramatically and the entire region grapples with debt crises. Euro zone finance ministers have agreed to boost their rescue fund, though have not revealed by how much. They may also be forced to turn to the IMF for additional aid. For the past two years, investors…
Good Time for Gold?
For those investigating different investment options vis-à-vis precious metals, now could well be a good time to look into gold. News on the gold front is that the figure stands at 0.87 percent higher than at its previous monetary-investment analysis. This, in part, is due to the unfortunate predicament from the weakened US dollar. So…
German Finance Minister Schaeuble On the EU Crisis
German Finance Minister Wolfgang Schaeuble has implied that European governments may put together a permanent rescue fund which requires bondholders to share losses in sovereign bailouts. He added that Germany may withdraw from demands that private creditors back rescues in payment for European treaty amendments which heighten limitations on budget oversight. The EU’s attempts to…
Italy’s New Prime Minister Meets European Commission President
Italy’s new Prime Minister, Mario Monti, a former European commissioner, returned to Brussels earlier this week, pledging to give the EU a primary position in his government work. He also claimed that growth and fiscal discipline could complement each other. “I don’t see any contradiction between rigor in public finance and growth via structural reform,”…
George Osborne Rejects Transaction Tax Suggestion
According to Chancellor George Osborne, a European financial transaction tax would be a fatal mistake for the continent unless countries like the US and China were to participate. EU policymaker suggested the idea, only to have Britain reject it in an effort to protect London’s role as a global financial hotspot. “Proposals for a Europe-only…
German Finance Minister Calls for More “European Level” Actions
According to Germany’s Finance Minister, Euro zone states must do more “at a European level” and work for budget setting and fiscal policy to European institutions to solve the debt crisis. Wolfgang Schaeuble to Focus, a German news magazine, that Italy is capable of resolving its problems. “The actual economic data is not so bad….
Belgian Finance Minister: Taxing Financial Transactions
As the debt crisis in Europe becomes more severe, finance ministers throughout the region have conducted numerous meetings in hopes of coming up with a new solution. According to Didier Reynders, Belgian Finance Minister, EU finance ministers should consider methods of taxing monetary transactions in order to relieve the worsening debt crisis. “If it’s possible…
Greek PM George Papandreou Wins Vote of Confidence
Greek Prime Minister George Papandreou recently won a vital vote of confidence after pledging to hold power-sharing talks. Papandreou shocked EU leaders and jolted markets by calling for a referendum on an EU deal last week, and has since faced numerous accusations and an impromptu vote. In an address to parliament he ruled out snap…
