The European Central Bank could begin exiting its phase of loose monetary policy from July, ECB Executive Board Member Juergen Stark was quoted as saying by German weekly magazine WirtschaftsWoche on Saturday.
European Central Bank President Jean-Claude Trichet denied the euro is under speculative attack despite its steep fall, and called instead for a quantum leap in monitoring to ensure government budgets are kept under control.
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.
Euro zone leaders approved emergency loans for Greece on Friday and governments around the world tried to calm financial markets hit by fears that Athens' debt crisis could cause havoc in other European economies.
Governments around the world tried on Friday to calm financial markets shaken by fears that Greece's debt crisis could cause difficulties for 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.
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.
Shock waves from the relatively small Greek economy reverberated around the world, as investors worried about the chances of other European governments facing a similar debt crisis.
U.S. stocks were down more than 3 percent on Thursday afternoon after briefly nosediving, with the Nasdaq at one point down more than 9 percent and the S&P 500 and Dow briefly falling into negative territory for the year, as worries about contagion from Greece's debt problems mounted.
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.
U.S. stocks were lower on Thursday after weaker-than-expected retail sales and as the European Central Bank failed to offer additional measures to stop a debt crisis from engulfing the euro zone.
The European Central Bank did not discuss buying government bonds in its policy meeting on Thursday, its head said, and he gave no indication the bank planned to introduce additional measures to boost lending.
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.
U.S. stock index futures pointed to a lower open on Thursday after weaker-than-expected retail sales and the European Central Bank left monetary policy unchanged, disappointing investors who hoped the ECB would prevent a debt crisis from engulfing the euro zone.
Euro zone policymakers and the head of the IMF warned of looming financial contagion on Wednesday unless a euro zone debt crisis is stopped in Greece, as nervous investors fled to the safe haven of the dollar.
Greece readied severe austerity measures on Thursday to secure a multi-billion-euro aid package and avoid debt default, providing relief to financial markets but drawing threats of a mighty battle from unions.
Greece readied severe austerity measures Thursday to secure a multi-billion euro aid package needed to avoid default, providing relief to financial markets but drawing threats of a mighty battle from Greek unions.
Fears that a planned rescue of Greece could stall and extend the financial crisis to other euro zone countries hit European markets on Wednesday as investors worried that Athens may default on its debt.
Greek bonds and bank shares sank to new lows on Tuesday as a budget expert from Germany's ruling party pressured private banks to accept a discount on the Greek debt they own, spreading the pain of an international bailout.
Debt-stricken Greece appealed to its European partners and the IMF for emergency loans on Friday, yielding to overwhelming market pressure to set in motion the first financial rescue of a member of the euro zone.
