A massive relief rally in financial markets on news of a $1 trillion deal to resolve Europe's debt crisis fizzled on Tuesday on nagging doubts about how Greece and other debt-laden euro zone countries will reduce their budget deficits.
Excitement over the euro zone's mammoth $1 trillion rescue package gave way on Tuesday to doubts whether its weakest economies can meet their end of the bargain and deliver drastic debt cuts, driving the euro and stocks lower.
A massive relief rally in world stocks on news of a $1 trillion deal to resolve Europe's debt crisis slowed down on Tuesday in Asia on nagging doubts about how Greece and other debt-laden euro zone countries will reduce their budget deficits.
Global equity markets staged a massive relief rally on Monday after officials agreed to a $1 trillion emergency rescue package to halt a festering sovereign debt crisis in Europe from engulfing the rest of the world.
Global equity markets staged a massive relief rally on Monday after officials agreed to a $1 trillion emergency rescue package to avert a festering sovereign debt crisis in Europe from engulfing the rest of the world.
A $1 trillion global emergency package to stabilize the euro unleashed a spectacular rally in European stocks and bonds on Monday but analysts said EU leaders had only bought time to tackle deep-seated fiscal problems.
Who says gold is the safe haven for investors now? It seems, if you take into consideration the present scenario in the global markets, gold is the most unsafe investment now. As is the tradition, gold thrives whenever there is a crisis or tragedy. This time around, it was Greece financial crisis, Spain and Portugal dilemma and the Iceland volcano mess and the gold ETFs fraud unraveled by the US commodity exchange regulator. Even as analysts made a big fuss about the gold's safe haven importance...
The euro rose and Asian stocks jumped on Monday after the European Union and IMF carved out an emergency loan package of up to 750 billion euros ($1 trillion) to keep Greece's debt crisis from spreading through the euro zone.
Global policymakers cobbled together an emergency rescue package worth about $1 trillion to stabilize world financial markets and resolve the Greek debt crisis that threatened to sink the euro and unravel euro-zone unity.
Global policymakers unleashed an emergency rescue package worth about $1 trillion to stabilize world financial markets and prevent the Greek debt crisis from destroying the euro currency.
The European Union agreed on a 500 billion-euro ($670 billion) emergency fund in the early hours of Monday to protect highly indebted eurozone countries from the wolfpack of financial markets.
The extreme market volatility of recent days has shaken investors, who still are seeking a clear explanation of what sent U.S. stocks into Thursday's dizzying intraday spiral.
The extreme market volatility of recent days has shaken investors, who still are seeking a clear explanation of what sent U.S. stocks into Thursday's dizzying intraday spiral.
European Union finance ministers on Sunday promised to counter the wolfpack of the financial markets as they sought agreement on a 600 billion euro ($805 billion) plan to keep Greece's debt crisis from spreading.
European Union finance ministers promised to counter the wolfpack of the financial markets and defend the euro before talks on Sunday on ring-fencing Greece's debt crisis to stop it spreading.
European Union finance ministers called for strong action to ensure stability before they met on Sunday to discuss ways of ring-fencing Greece's debt crisis to stop it spreading to countries like Portugal and Spain.
European Union officials were working out the details of a financial support mechanism on Saturday to prevent Greece's debt turmoil spreading to Portugal and Spain, ready for approval by EU finance ministers on Sunday.
Portugal's prime minister has promised his European Union counterparts that he will cut the budget deficit further than planned this year, to 7.3 percent of gross domestic product, a government source said on Saturday.
It seems gold is heading for a perfect future as almost all incidents unraveling across the world in April and May months are helping the yellow metal gain. If you take into consideration the recent developments like the Greece debt crisis, Spain and Portugal economic woes, the Euro situation, China's decision to control the realty sector and the May 7 verdict by India's Supreme Court in the Ambani gas row case, all of this have contributed to the further push of gold in global and India markets...
Sovereign risks have risen due to the turmoil in the euro zone, but the woes Greece faces are not the same as in other European nations and the situation can be resolved, the chair of a meeting of sovereign wealth funds said.
Euro zone leaders decided on Friday they have special measures ready before financial markets open on Monday to prevent financial turmoil in Greece spreading to other countries such as Spain and Portugal.
In a week of market turmoil resulting from Greece's fiscal crisis, oil went from an intraday high above $87 on Monday - its highest point in more than a year and a half - to plunge briefly below $75 on Friday. The Greek crisis, exacerbated by a still-unexplained glitch in U.S. stock trading on Thursday that saw the Dow Jones Industrial Average plunge 9% in a matter of minutes before recovering, sent financial speculators scrambling for the sidelines, liquidating their long positions.
