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Markets Now Seeing Once-Unthinkable Greek Eurozone Exit as Inevitable

Talk of Greece voluntarily leaving -- or being kicked out of -- the eurozone was once verboten. Now bank economists, investors, and even central bankers are talking about it as though it's a done deal. The divide between rhetoric is also growing. Those predicting the future Greek exit are calling it "manageable," while those saying it won't happen are labeling the possibility "catastrophic."
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Monti warns of Greek-style risk to Italy

Italy risked a Greek-style economic collapse which could threaten the future of the euro without the austerity package approved by the government, Prime Minister Mario Monti said on Monday, calling on European partners to do their part.
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Merkel says marathon crisis will take years to solve

The euro zone debt crisis cannot be solved overnight, German Chancellor Angela Merkel said on Friday, urging instead a long-term approach that relies on tougher fiscal rules being enshrined in European treaties.
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Central banks act as euro zone crisis rages

The world's major central banks acted jointly on Wednesday to provide cheaper dollar funding to European banks facing a credit crunch as the euro zone's debt crisis drove EU ministers to urge more IMF help to avert financial disaster.
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UNESCO 'Intangible Heritage' List: 19 Cultural Traditions in Danger of Extinction

The United Nations has announced that Mexican mariachi music, Chinese shadow puppetry and poetic dueling competitions in Cyprus are among several cultural traditions that are both crucial to a living culture and are at risk of dying out, prompting moves to protect and encourage their practice. UNESCO has placed 19 new items on the Intangible Heritage List.
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Europe's Markets Rise for Fourth Straight Session

European shares extended a rally into a fourth session on Wednesday, with miners reversing earlier losses after resource-hungry China cut the reserve requirement for banks to ease credit strains and bolster its economy.
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Caution on Eurozone Bailout Progress Hits Asian Shares

Asian shares fell and the euro trimmed gains on Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.
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Asian Shares Fall on Caution over Euro Bailout

Asian shares fell and the euro trimmed gains Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.
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European share rally ends

A two-day rally in European shares came to a halt on Tuesday, while the euro slipped from highs on investor caution ahead of an Italian bond auction and widespread skepticism over whether European policymakers will be able to prevent debt contagion.
Traders work at their desks at the Frankfurt stock exchange

Asian Shares Extend Rally on Eurozone Hopes

Asian shares and the euro extended a rally into a second day Tuesday as investors were buoyed by expectations that European policy makers will outline details of how they will leverage a bailout fund to avert contagion in sovereign debt markets.
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Asian shares gain amid rally on euro zone hopes

Asian shares and the euro extended a rally into a second day on Tuesday, as investors were buoyed by expectations that European policy makers will outline details of how they will leverage a bailout fund so as to avert contagion in sovereign debt markets.
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Moody's says may cut EU banks' subordinated ratings

Ratings agency Moody's said on Tuesday it could downgrade the subordinated debt of 87 banks across 15 European Union nations on concerns that governments would be too cash-strapped to bail out holders of riskier bank debt in times of stress.
Molten gold

Gold Prices Surge on Fresh Hope for Eurozone

Gold prices surged Monday as German and French leaders worked on emergency plan to save the Eurozone within weeks rather than months and strong U.S. retail buying bolstered equities.
Moody's sign on 7 World Trade Center tower in New York

EU Sovereign Ratings at Risk, Moody's Warns

Moody's Investors Service warned on Monday the rapid escalation of the euro zone sovereign and banking crisis threatens the credit standing of all European government bond ratings.
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Rio Tinto says commodities customers more cautious

Global miner Rio Tinto warned on Monday that further cracks may be emerging in global commodities markets as the economies of Europe and the United States waver, with its customers increasingly cautious on the outlook.

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