Economy
Canada Urges European Leader to Fasten With Their Plans to Fight Crisis
Submitted by Antonio Carretero on Mon, 10/17/2011 - 06:05
Concerned over the forecast of yet another recession, Canada’s Finance Minister Jim Flaherty has urged the European leaders to take stern steps to tackle the menace of recession. It has come to light that
if Europe didn’t controlled its financial crisis then soon the Canadian economy would become the victim of it.
During a television interview, Flaherty said, "The avoidance of a recession depends on the ability of the Europeans to take the actions they need to take”. While addressing to the banking sector of the
Eurozone Might Be On the Right Track to Recovery
Submitted by Antonio Carretero on Mon, 10/17/2011 - 06:00
It has been revealed according to a recent report that the shares from Europe might see a gain in the near future as well. This has come after the ballooned expectations that have come to the minds of the
people, after the authorities have promised that there shall soon be effective measures be taken for the Eurozone to head out of the debt crisis they are stuck in from such a long time.
With the rigorous efforts by all the member nations, there is good news coming in for the Eurozone. Their stocks are seeing consistent rise and this might be a positive development for them.
Spain Battling With Slow Growth
Submitted by Antonio Carretero on Mon, 10/17/2011 - 05:55
It has been revealed in recent reports that the year 2011 was a hard time for the finances of Spain. It was revealed by an analyst that the financial disposition of Spain saw probably the roughest times this
year, with their deficits going high and the nation going deep in to debts.
According to the Standard and Poor rating, the nation saw a credit rating AA-minus. This was merely week after the Fitch ratings had placed it on a two notches low at AA minus.
Spain’s Health Department Faces Euro Zone Crisis Effects
Submitted by Shamsher on Wed, 10/12/2011 - 14:54
No one would have got such hard blow, which Spain's public health care system has got due to euro zone crisis.
For past two years, medical suppliers have not be paid; emergency wards have been closed and doctors and other medical staff have been told that they either they should agree with the fact that they have to work with meager pay or they would be laid off.
Italy and Spain’s Credit Ratings Decline, Adds to Euro Crisis
Submitted by Shamsher on Mon, 10/10/2011 - 14:00
To worsen the prevailing debt crisis situation, Fitch reduced Italy's credit rating to A+ from AA- and Spain's credit rating to AA- from AA+.
Whole situation has gone for toss as now, Belgian bonds of 10 year also lowered when the government said that they have considered pros and cons of paying 4 billion euros for consumers of Dexia SA, and have agreed for the deal in which they would pay the loan to assure the lenders. Even, Belgium was of the view that its credit ratings could also be on the check after Italy and Spain.
Gold, Silver and Platinum Faces Fall
Submitted by Antonio Carretero on Sat, 10/08/2011 - 13:53
Popularly known as ‘investment’, gold faced a 1% downfall on Friday’s business and it is said that till the time investors would use money as a measure to cover margin calls, till then time gold would face a downfall. Same pattern becomes reason for the fall of gold this week.
Fitch Downgrades Currency of Spain, Italy
Submitted by Shamsher on Sat, 10/08/2011 - 13:50
It appears that the looming sovereign-debt crisis on the European nations has hit the financial market on Friday. Post revelation that the Fitch credit rating agency has downgraded the foreign and local currency ratings on Italy and Spain, the market saw a downfall.
Reports confirmed that UBS AG was seen slumping down by 6.2% to $11.28, and Deutsche Bank dropped by 5% to $35.15.
Obama Wants Workable Solution from Euro Zone Countries
Submitted by Antonio Carretero on Fri, 10/07/2011 - 14:15
Continuously waning condition of the US and no workable solution at hands of Euro Zone countries forced US President Obama to lash out at China, and blamed it of trading in a way which could harm Beijing one day.
One year is left with Mr. Obama to ask for votes again for his Presidency and till then, he is leaving no stone unturned to sort this problem. He has the euro zone countries to put their acts together and get a viable solution before the G 20 summit, which would be held in November.
Rescue Losses to Be Met by Spanish Banks
Submitted by Shamsher on Fri, 10/07/2011 - 14:07
It has been revealed, according to a recent report, that Spain is going to pursue its banks to bear the loss incurred due to its multibillion liberations, just before the upcoming general elections.
It was revealed by the Socialist Government of the nation that the banking sector shall be paying for any sort of losses incurred during the process of reorganizing of the local saving banks. They shall o this with aid of the deposited guarantee funds that are backed with support by the industry.
Some Respite Reaches Euro Zone as Spain Reaches Maximum Bond Sale Target
Submitted by Antonio Carretero on Fri, 10/07/2011 - 14:05
It has been revealed, according to recent market developments, that Spain has been able to meet its target of maximum bonds being sold. They have been able to sell bonds worth 4.5 billion Euros, whereas the borrowing costs of the Eurozone also saw a fall, with the debt on the secondary market of the zone being supported by the European Central Bank.
There was sale of bonds by the Treasury that were due to be sold in April of the year 2014. The average yield for the same was recorded to be 3.589%. Securities, which were due in October 2014, recorded yield of 3.495%.
