The extra fiscal stimulus in the form of tax cuts approved in December could produce a 4 percent growth rate for the U.S. economy in the first half of 2011, but there are lingering risks that could lead to a cold shower in 2012, according to the American Enterprise Institute (AEI).
The European Union's top economics official called on Wednesday for a strengthening of Europe's financial safety net as Portugal, widely seen as the next candidate for a bailout, returned to the market for funds.
The euro rose weakly against the dollar on Wednesday while Asian stocks edged higher, but investors were increasingly nervous ahead of a key bond sale by ailing euro zone member Portugal later in the day.
The effective lending capacity of the euro zone's financial rescue fund should be reinforced and the scope of its activity widened, the European Union's economic chief said on Wednesday.
Euro zone finance ministers are likely to consider next week the option of raising the effective lending capacity of the currency bloc's rescue fund as part of efforts to calm sovereign debt markets, euro zone sources said.
Euro zone finance ministers are likely to consider next week the option of raising the effective lending capacity of the currency bloc's rescue fund as part of efforts to calm sovereign debt markets, euro zone sources said.
Euro zone finance ministers are likely to consider next week the option of raising the effective lending capacity of the euro zone rescue fund as part of efforts to calm sovereign debt markets, euro zone sources said.
The Greek budget deficit narrowed more than targeted last year, mainly led by a drop in government spending.
As the European debt crisis worsens there appears to be more help coming from Asia, with Japan on Tuesday offering to buy Irish bonds coming up for sale this month.
Matthew Lynn, a business writer, gives a detailed explanation of this failure in his book Bust: Greece, the Euro and the Sovereign Debt Crisis.
Portugal does not need to apply for EU aid, Spain's Economy Minister said on Monday, as pressure mounted on Lisbon to seek outside help in managing its finances and risk premiums on both countries' debt widened.
Economy in both the euro area and the EU27 grew at a much slower pace in the second quarter, according to the second estimate by Eurostat, the official statistical office of the European Union
There is euphoric expectation that China, armed with its $2.6 trillion reserves, will emerge as the ultimate white knight for Europe. Is that belief founded on facts and substantiated by strategic thinking?
Silver and Gold Prices both unwound the last of late Dec.'s gains in early London trade on Wednesday, retreating to $29.20 and $1370 respectively per ounce on what several analysts called profit taking as world stock markets also fell.
Firefox has dethroned Internet Explorer (IE) in December 2010 to become the number one browser in Europe, as Google’s Chrome stole share from the Microsoft browser, a report said.
Chinese ambassador to Spain said on Monday China will contribute to efforts to secure Spain's financial stability and economic recovery as the debt-hit nation is trying to shore up investor confidence and avert any sovereign crisis.
Russia is not ready for the growth of domestic and inbound tourism as the country still has bad roads and undeveloped infrastructure.
Germany is committed to the euro currency and the German people are now stronger in the wake of Europe’s economic crisis, said Chancellor Angela Merkel in her annual televised New Year’s message.
Despite all the turmoil surrounding it, the euro zone will welcome its seventeenth new member, Estonia, when the clock strikes midnight in Eastern Europe, making it the first former Soviet state to adopt the euro currency.
The Vatican has established a new financial authority that seeks to combat money laundering and make its financial activities more transparent.
A sum up of top events that shaped US in past decade (2000-2010). Part 3 covers 2009 & 2010 on Michael Jackson’s death, US economy and jobs, Obama closing Guantanamo Bay detention, troops in Afghan, Tea Party, Sarah Palin and Nobel Peace Prize.
Euro zone reforms designed to penalize spendthrift peripheral nations are still not adequate to alleviate the currency bloc’s problems, said European Central Bank (ECB) governing council member Yves Mersch.
