Euro zone rescue fund may not reach 1 trillion Euros Euro zone countries had hoped to increase the EFSF’s lending capacity by December, combining bond insurance with investment vehicles. But after the government in Athens fell and bond markets pushed … Continue reading
Italy is a country in which tax evasion is so ingrained that former Italian Prime Minister Silvio Berlusconi once called it a “natural right.” Let me give you some numbers to think about. Italy is the seventh wealthiest country in … Continue reading
Italy’s GDP is $2.05 trillion, making it the third largest economy in the EU and the EU’s biggest financial headache. It has the second worst Debt to GDP ratio in Europe (behind Greece) and the third largest bond market in … Continue reading
The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the … Continue reading
Weaker spending by consumers worried about Europe’s debt crisis and the shutdown of eight nuclear plants were key factors behind Germany’s poor growth performance in the second quarter, the state statistics agency said Thursday. Consumers spent 0.7 percent less, the … Continue reading
Oil prices hovered below $89 a barrel Friday in Asia as investors awaited a key jobs report later in the day for evidence about the strength of the U.S. economy. Benchmark oil for October delivery was down 25 cents to … Continue reading
Greece will miss its budget deficit target this year, the government and its international lenders said on Thursday, but they disagreed on how big the fiscal derailment will be and what is to blame. The dispute is complicating negotiations before … Continue reading
In his numerous fund-raising and policy speeches around the country these days, President Obama often bemoans the difficult economic times and uncertainties afflicting millions of Americans, including the nearly 14 million still seeking work unsuccessfully. The Democrat argues that his … Continue reading
China’s local government debt burden may be 3.5 trillion yuan ($540 billion) larger than auditors estimated, putting banks on the hook for deeper losses that could threaten their credit ratings, Moody’s said on Tuesday. Addressing the estimate by China’s state … Continue reading
When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on … Continue reading