Talks With Russia to Avert Cyprus Financial Crisis Fail
Talks between Russian officials and the Cypriot government broke up early Friday, with no agreement on a cash infusion to help the tiny island nation secure an EU bailout.
Eurozone debt crisis
Markets Shrug Off Cyprus Rejection of Bailout Plan
Financial markets on Tuesday shrugged off the Cypriot parliament's rejection of a plan to confiscate part of people's bank deposits in order to qualify for an international bailout loan.
Cyprus Bailout, Bank Run Spook Markets
Markets around the world are lower today after a run on bank deposits in Cyprus over the weekend. That followed a decision by euro-zone officials to tax depositors to help pay for a national bailout. There's concern that the new bank crisis could spread to Italy, Spain and beyond.
Eurozone OKs Terms of Bailout for Spanish Banks
Finance ministers from the 17 countries that use the euro have approved the terms for a bailout loan for Spanish banks. The first 30 billion euros of up to 100 billion euros in loans will be disbursed this month.
Double-Dip Recession Hits Eurozone as Crisis Clouds Swirl
The eurozone has sunk back into its second recession since 2009, a Reuters poll predicted on Thursday, as the debt crisis that has ravaged the continent for over two years continues to stifle growth.
Eurozone Unemployment Hits New Record High
Unemployment in the 17-country euro currency bloc hit another record high in May -- 11.1% -- as the crippling financial crisis pushed the continent toward the brink of recession, official figures showed Monday.
Fruit Loot: Spain's Economic Crisis Spawns Wave of Crop Thefts
Drop those cherries, you're under arrest! Crops and cops are converging along Spain's journey through economic crisis: A growing number of people are stealing the earth's bounty from farmers.
US Stocks Mixed as European Debt Crisis Festers
Crisis-weary investors scoffed Monday at what had appeared to be a hopeful turn in the European debt crisis: a victory for pro-Europe parties in a Greek election. U.S. stocks were little changed, and borrowing costs for Spain surged to alarming levels.
Oil Prices Hit 8-Month Low as Spain Optimism Fade
The price of oil hovered above $82 a barrel Tuesday after touching an eight-month low near $81 earlier in the session amid concern Spain's bank bailout won't be enough to stem Europe's debt crisis and suggestions OPEC could boost production targets.
Stock Markets to Eurozone: Darn it, You're Ruining Everything
That giant sucking sound you hear is money -- lots of it -- fleeing global stock markets for the safe havens of the U.S., German, and U.K. sovereign bond markets. It's fear talking -- fear of intensifying crisis in the eurozone.
'Pasty' Tax Battle Burns British Pols -- and Possibly Your 401(k)
Britons recently took to the streets to protest a plan to tax "pasties" -- popular baked goods that resemble Hot Pockets -- and the government couldn't take the heat. Here's why that tax protest victory is likely to leave a bitter taste in U.S. mouths.
OECD Warns of 'Severe Recession' Looming for Eurozone
The 17-country eurozone risks falling into a "severe recession," the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe's central bank to act quickly to keep the slowdown from spreading.
Hedge Funds Betting Against the Eurozone: Why You Should Worry
Some of the world's most prominent hedge fund managers are betting against the eurozone -- and not just the weak little countries -- we're talking Germany and France. Here's why that's bad news for all of us.
Recession in Spain Breeds Pessimism in Global Markets
Markets dipped Monday after official data confirmed that Spain is back in its second recession in three years. Investors had initially bid up stocks on hopes that the Fed would provide more stimulus to the U.S. economy.
Spain Is Struggling With Its Debt, and You Should Be Worried
Rising Spanish bond yields: If you've heard those four words in the news recently, you may not have paid much attention. But that phrase foretells a potential crisis that could swamp America's fragile economic recovery.