PIIGS

The Financial Landscape: No Bailout Yet for Greece

The financial world Monday morning is focused on Greece. E.U. finance ministers postponed agreement on a bailout until they see proof that its government will follow through on austerity measures. Meanwhile, some big U.S. firms say that a generous tax break would help them expand their domestic operations.

Why the European Debt Crisis Is Far From Over

The European debt crisis is back: Portugal is in political turmoil, and may need a major bailout, and Spain may too. But the E.U.'s strong healthy are rebelling against propping up their weaker neighbors. The real issue, though, is that the E.U. hasn't yet addressed the fundamental flaw built into it at the euro's creation.

Best and Worst Global Stock Markets of 2010

The big national stock market winners of 2010 scored returns far above those of U.S. markets by piggybacking on China's ferocious growth. But rebounding American equities look mighty impressive next to the year's real losers: the victims of the eurozone debt crisis.

Ireland's Austerity Budget:
Not Likely to Avoid Default

Despite its planned austerity budget, the long-term solvency of Ireland is still in doubt. Simply put, the losses which Irish taxpayers must cover are larger than the nation's economy can support, making sovereign debt default likely even with a promised bailout from the EU and IMF.

Europe's Debt Crisis: Here We Go Again?

Europe's shakiest economies managed to ride out a sovereign debt crisis this spring with a lot of help from their more stable neighbors and the major central banks. But with global recovery faltering, the data coming out of Europe suggests we may soon see a replay of the debt default crisis.

Europe Needs to Think Big About Its Bailout

Ratings downgrades for Spain, Portugal and Greece have alarmed already-rattled credit markets, sending borrowing costs sky-high. As contagion spreads, Europe's politicians need to stop dithering over the bailout and take dramatic steps to reassure markets.

Portugal Rate Cut Weighs On Global Markets

Shares in Europe were broadly lower Wednesday after the move, and the ratings agency warns of a possible further downgrade if the country doesn't drastically curtail its mounting budget deficits.

The Dow's Jump Doesn't Mean All's Well in Europe

The Dow surged Tuesday on reports the European Union was hatching a plan to end the Greek debt crisis, but just because the blue-chip index sits above 10,000 again doesn't mean the latest threat to equities is over. Investors should brace themselves for more tremors to come.