The ECB faces mounting pressure to begin Quantitative Easing in a bid to prevent a two-speed Europe. Nathalie Thomas examines the consequences...
FORMER prime minister Sir John Major has warned that it would be “catastrophic” if debt-ravaged Greece defaulted before Europe’s banks had enough money to cover their losses.
THE powerhouse German economy has fallen victim to sluggish global growth, figures have revealed, in a surprise downbeat assessment of the country.
GERMANY and France last night proposed a collective "eurozone government" led by the EU president to pull the region away from ecomomic turmoil.
Economist Ottmar Issing has fired an excoriating attack on the course European history is taking
A DEFIANT Barack Obama last night vowed that the US would always be a triple-A economy, despite its ratings agency debt downgrade.
THE Obama administration has attacked the competence of the credit ratings agency that downgraded the United States last Friday.
GLOBAL stock markets were battered again yesterday as the European Central Bank failed to quell the panic by buying Italian and Spanish bonds.
FIRST Minister Alex Salmond has called for a "Plan B" to protect Scotland's economy during the global economic crisis.
THIS deal on debt is key for policy makers, elite members of the European Commission and heads of the European Central Bank.
CREDIT-RATING agencies, such as Standard & Poor's, exist to assess the credit-worthiness of bond issuers - companies or, as in this case, countries, who borrow money by issuing IOUs known as bonds.
THE European Central Bank (ECB) last night announced it was ready to implement a bond-buying programme in an attempt to stop the eurozone plunging into deeper financial crisis.
The lesson from the continent is that greater fiscal autonomy does not always result in better governance
THE eurozone needs to make further changes to its bailout fund - including boosting its size - to ensure it can effectively stem the worsening debt crisis, the president of the European Union's executive has said.
GREECE'S credit rating was cut by two notches to CC yesterday, with a negative outlook.
Business Secretary Vince Cable yesterday launched an attack on "right-wing nutters" in the US who are threatening to cripple the world economy.
WORLD markets rallied yesterday after eurozone leaders agreed a new €109 billion (£96 billion) rescue deal for debt-laden Greece, allaying fears of the collapse of the single currency.