Europe Economy

Euro

From Politics & Policy 3:56 pm

Global Losses From Greek Euro Zone Exit Could Reach €1 Trillion

The financial markets appear to have already priced in Greece’s departure from the euro bloc.

France's new President Hollande and newly-named French Prime Minister Ayrault leave after a traditional ceremony at Paris city hall

From Politics & Policy 2:18 pm

France’s New Socialist Government Names Cabinet

Interestingly, Martine Aubry, the leader of the Socialist party rejected an offer to head a "super ministry."

Euro

From Economy 1:38 pm

Forex: What Happens If Greece Leaves The Euro?

The growing possibilities of an imminent Greek exit from the single currency bloc could drive up the value of safe-haven currencies such as the U.S. dollar and the British pound, while hurting a number of emerging Asian currencies that are sensitive to investors' risk appetite.

Leader of the Left Coalition party Tsipras smiles during a meeting with Greek President Papoulias in Athens

From Politics & Policy 1:27 pm

Greece: Syriza Leader Attacks EU And Merkel, As Caretaker Government Takes Shape

Tsipras has said he wants Greece to remain in the euro zone, but has demanded that bailout agreements be renegotiated by providing more favorable terms.

A sculpture showing the Euro currency sign is seen in front of the ECB headquarters in Frankfurt

From Politics & Policy 12:00 pm

ECB Stops Operations With Some Greek Banks: Sources

The European Central Bank has stopped monetary policy operations with some Greek banks as they have not been successfully recapitalized, euro zone central bank sources said on Wednesday.

Anthoula Christoula, former wife of Dimitris Christoulas, cries over his coffin during a funeral procession in Athens

From Economy 11:54 am

Greece: Economic Crisis Sparks Surge In Suicides

The surge in people killing themselves can be directly linked to “increased insecurity and uncertainty for the future.”

Mervyn King

From Politics & Policy 11:29 am

Mervyn King and the Politics of Uncertainty

The Bank of England under the direction of its governor Mervyn King today revised down its growth projections for the British economy this year and is now saying that the nation will not reach pre-crisis levels until 2014.

Greece

From Politics & Policy 9:48 am

Euro Plunges On Expectations Greece Will Leave Euro Zone

The euro fell to its lowest levels since January following the news Greece would have to hold a new round of elections, making the prospect of the dissolution of the euro zone economic union significantly more compelling.

Elderly Greek villager

From Politics & Policy 9:27 am

Greece: Possible Expulsion From Euro Zone Would Raise Questions About ‘European’ Identity

Although Greece is considered the “cradle of Western Civilization,” the nation has had a vastly different history and trajectory from the dominant countries of Western Europe.

Greece

From Politics & Policy 9:03 am

Global Markets Signal Imminent Greek Departure From Euro Zone

Signs that a Greek departure from the euro zone has become inevitable proliferated worldwide Wednesday with Hong Kong's main stock index plunging more than 3 percent, bank runs in Athens and Britain's central bank finalizing contingency plans for a euro zone breakup.