Shares have fallen across Britain, Europe and the US today after concerns about austerity measures in Greece, Portugal and Spain have re-surfaced.
The euro also fell against the US dollar to $1.25 – the first time since March last year.
The euro has already shed 12% this year against the dollar and is set to [...]
EU finance ministers have agreed a €500 billion (£433 billion) emergency rescue package, designed prevent the Greek debt crisis from spreading to other euro zone nations.
The bail-out came after 11 hours of discussions in Brussels last week as fears grew for other heavily indebted European countries such as Ireland, Spain and Portugal.
The 16 members of [...]
A deal designed to prevent Greece from defaulting on its massive debt has been agreed over the weekend.
It is also hoped the €110 billion (£95 billion) three-year rescue package will strengthen the single currency, which has been plummeting over recent months as a result of Greece’s debt crisis.
The EU will provide €80 billion with the [...]
Moody’s Investors Services has today announced the credit ratings of the world’s four largest AAA-rated nations are viewed as safe.
According to Moody’s, the world’s four largest AAA-rated sovereign nations, which include Germany, France, the UK and the US are currently “well positioned despite their stretched finances”.
In its quarterly report assessing the prospects of the triple [...]
The Organisation for Economic Co-operation and Development (OECD) has today revealed that the unemployment rate in its member countries has crept up from 8.5% in July to 8.6% in August, up from 6.3% in August 2008.
The OECD, which includes 30 territories such as the US, Australia, Japan, Canada, New Zealand and European countries, is forecasting [...]
At last week’s G20 summit, the world’s leading nations agreed to “tough new regulations”.
Following the summit, which took place in Pittsburgh on Thursday and Friday, US President Barack Obama announced that in order to prevent another financial crisis: “We have agreed tough new financial regulations to ensure that the reckless few can no longer be [...]