European Union (EU) finance ministers Monday continued at their monthly meeting discussion of a comprehensive solution to the sovereign debt crisis, but no final decisions are expected.
"Today with the euro group we will push forward with our discussion to arrive at a comprehensive package that causes the euro zone to be more stable and solves our problems," Greek Finance Minister George Papaconstantinou said after on arrival for the meeting.
February 15, 2011
February 14, 2011
ECB's Draghi - some sovereign spreads overshooting
Portuguese bond spreads over benchmark German Bunds soared to a euro-era high last week as a perceived lack of progress on reforms to tackle the euro zone debt crisis unnerved investors.
"There is an 'overshooting' effect now, an upwards exaggeration, just as there was an understatement before," Draghi told the German daily Frankfurter Allgemeine Zeitung.
"There is an 'overshooting' effect now, an upwards exaggeration, just as there was an understatement before," Draghi told the German daily Frankfurter Allgemeine Zeitung.
February 13, 2011
Dollar Strengthens Amid Egypt Turmoil & Euro Debt Crisis
The dollar strengthened against the euro for the 3rd week in a row and rose against the majority of its major counterparts as concern grew over the ongoing Egyptian unrest and the debt crisis in Europe.
Investors sought the relative safety of the dollar as speculation increased over Portugal’s funding costs rising to an unsustainable level along with Egyptian President Hosni Mubarak stepping aside and handing power over to the military. Investors were further encouraged to seek out greenbacks with positive U.S.jobs data recently released along with a forecast increase in January retail sales.
Investors sought the relative safety of the dollar as speculation increased over Portugal’s funding costs rising to an unsustainable level along with Egyptian President Hosni Mubarak stepping aside and handing power over to the military. Investors were further encouraged to seek out greenbacks with positive U.S.jobs data recently released along with a forecast increase in January retail sales.
February 10, 2011
Hopes raised, punches pulled
European leaders look set to fudge the latest test of their resolve.
EVER since the sovereign-debt crisis erupted a year ago bond markets have repeatedly tested the resolve of European leaders to avoid government defaults. On each occasion euro-zone members have done something—but not quite enough to quell the crisis. This year looks like following the same pattern.
EVER since the sovereign-debt crisis erupted a year ago bond markets have repeatedly tested the resolve of European leaders to avoid government defaults. On each occasion euro-zone members have done something—but not quite enough to quell the crisis. This year looks like following the same pattern.
February 09, 2011
Forex focus: sterling turns the corner
It’s up against the US dollar and the euro, as well as against last year's strongest currencies - the Swiss franc, Japanese yen and Aussie dollar.
This is great news for pensioners and those living off savings held in sterling. You could be getting the best rates for two years.
This is great news for pensioners and those living off savings held in sterling. You could be getting the best rates for two years.
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