No agreement has yet been reached on scaling up the size of the Eurozone's bailout fund to better tackle the debt crisis, two senior European Union officials said on Wednesday.
No agreement has yet been reached on scaling up the size of the euro zone's bailout fund to better tackle the debt crisis, two senior European Union officials said on Wednesday.
European stock index futures jumped on Wednesday, tracking a rise in Asian shares, but a cut to Spain's sovereign credit rating from Moody's Investors Service kept investors' risk appetite in check.
A double-notch downgrade to Spain's credit ratings has piled more pressure on European leaders to make rapid progress on solving the region's debt crisis or face unbearable borrowing costs.
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A double-notch downgrade to Spain's credit ratings has piled more pressure on European leaders to make rapid progress on solving the region's debt crisis or face unbearable borrowing costs.
A double-notch downgrade to Spain's credit ratings has piled more pressure on European leaders to make rapid progress on solving the region's debt crisis or face unbearable borrowing costs.
Moody's Investors Service on Tuesday cut Spain's sovereign ratings by two notches, saying high levels of debt in the banking and corporate sectors leave the country vulnerable to funding stress.
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Britain's Guardian newspaper reported on Tuesday that France and Germany had agreed to boost a euro zone financial rescue fund to two trillion euros ($2.76 trillion), pushing U.S. stocks and the euro higher despite doubts about whether there was such an agreement.
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France and Germany have agreed to boost a euro zone financial rescue fund to two trillion euros ($2.76 trillion), part of a plan to resolve the bloc's debt crisis that should win support at Sunday's EU crisis summit, Britain's Guardian newspaper said on Tuesday.
Stocks surged late in trading on Tuesday as buyers latched onto another report of agreements to strengthen the euro zone's rescue fund to bid up stocks aggressively.
France and Germany have agreed to boost a euro zone financial rescue fund to two trillion euros ($2.76 trillion) as part of a plan to resolve the bloc's debt crisis that should win support at Sunday's EU crisis summit, Britain's Guardian newspaper said on Tuesday.
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The leaders of the most powerful nations in Europe, France and Germany, have reportedly agreed to increase the size of the Eurozone’s rescue fund to 2 trillion euros ($2.7 trillion) – up from the current 440 billion euro ($604 billion) lending capability -- as part of comprehensive program to find a solution to the debt crisis wreaking havoc across Europe.
