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.
Governments around the world sought on Friday to calm financial markets hit by fears that Greece's debt crisis could cause turmoil in other European economies.
Governments around the world sought on Friday to calm financial markets hit by fears that Greece's debt crisis could cause turmoil in other European economies.
Stocks worldwide plunged as fears about Greece's debt crisis went global, with investors seeing it as an omen of turmoil in other European economies and governments struggling to calm markets.
Stocks worldwide plunged as concerns about Greece's debt crisis went global, with investors seeing it as an omen of turmoil in other European economies and governments struggling to calm markets.
Did anyone really see that coming? Last night's price action in the market has mirrored the beginning of the financial crisis in 2008.
The Federal Reserve is closely watching for signs the European sovereign debt crisis could derail a fragile U.S. economic recovery, a top Fed official said on Thursday.
The European Central Bank resisted market pressure to ride to the rescue of struggling euro zone countries on Thursday, giving verbal support to Greece's tough savings plan but stopping short of any fresh action.
The Greek parliament prepared to adopt a harsh austerity plan in the face of violent unrest, as European Central Bank inaction disappointed markets fearful a debt crisis will engulf the euro zone.
The Greek parliament prepared to adopt a harsh austerity plan on Thursday in the face of violent unrest, as markets looked to the European Central Bank to prevent a debt crisis engulfing the euro zone.
* Fears of dollar squeeze seen in Thai, Indian markets
* Worries grow that Greek debt crisis will spread
* New Zealand swaps curve shifts upwards, rate hike seen
Greece's economic crisis sent shivers of fear through global markets on Thursday over concern it could spread like wildfire through Europe and beyond.
The Australian Dollar fell again overnight, trading to a low of USD0.9025 due to ongoing risk aversion.
Stocks sagged on Wednesday as more signs emerged that the fallout from the Greek debt crisis could spread to bigger European economies.
