(RTTNews) - European Central Bank policymaker Jens Weidmann on Tuesday said that the politicians' attempts to solve the problems in Europe and to erase the crisis symptoms are weakening people's confidence in authorities and in the deals agreed among institutions.
September 14, 2011
Geithner to take crisis message to European finance talks
Treasury Secretary Timothy F. Geithner plans to urge European Union finance ministers to step up their crisis-fighting strategy when he meets with them this week in Poland, a euro-area official said.
The official spoke on the condition of anonymity because preparations for the meeting, which takes place in Wroclaw, Poland, on Sept. 16 and 17, are confidential. It will be the first time Geithner has attended a session of Europe’s Economic and Financial Affairs Council, known as Ecofin.
The official spoke on the condition of anonymity because preparations for the meeting, which takes place in Wroclaw, Poland, on Sept. 16 and 17, are confidential. It will be the first time Geithner has attended a session of Europe’s Economic and Financial Affairs Council, known as Ecofin.
September 13, 2011
Car industry urges bold action over euro debt crisis
Car industry executives from around the globe urged Europe's politicians to take bolder steps to solve the bloc's two-year-old debt crisis, warning its single currency could be derailed without more decisive action.
The euro was under pressure again on Tuesday with debt markets increasingly pricing in a Greek sovereign debt default and the U.S. government voicing its alarm at Europe's inability to get a grip on the crisis.
The euro was under pressure again on Tuesday with debt markets increasingly pricing in a Greek sovereign debt default and the U.S. government voicing its alarm at Europe's inability to get a grip on the crisis.
Debt crisis in euro zone likely to drive crude oil futures higher
Inventories of crude oil are likely to drop for a second-straight week in the U.S., pushing up oil prices on Tuesday, according to published reports.
In anticipation of a not-yet released report from the U.S. Department of Energy stating supplies dropped by as many as 3 million barrels because of tempests manifesting in the Gulf of Mexico, the energy commodity gained in value in the U.S., which is the globe's top consumer of oil. Bloomberg reports the immediate climb was roughly 2 percent within hours of the opening bell on Tuesday morning.
In anticipation of a not-yet released report from the U.S. Department of Energy stating supplies dropped by as many as 3 million barrels because of tempests manifesting in the Gulf of Mexico, the energy commodity gained in value in the U.S., which is the globe's top consumer of oil. Bloomberg reports the immediate climb was roughly 2 percent within hours of the opening bell on Tuesday morning.
Euro crisis rains on UK bank reform's parade
Reforms proposed this week could make British bank shares attractive again, ringfenced from investment banking risk, but in the short term they are irrelevant to investors running scared of the euro zone debt perils.
A government-sponsored commission unveiled reforms on Monday that said banks should shield retail units from riskier investment banking and hold billions more in extra capital.
A government-sponsored commission unveiled reforms on Monday that said banks should shield retail units from riskier investment banking and hold billions more in extra capital.
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