Ongoing fears that the euro zone debt crisis could spread throughout the world sent Asian markets falling today with Japan’s Nikkei index down 246 points to 9,784.54.
Over the week, the index has lost over 6.5% – its largest weekly drop since January 2009.
On Wall Street yesterday, the Dow Jones industrial average slumped 376.36 [...]
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 [...]
Spanish Prime Minister, Jose Luis Rodriguez Zapatero, is set to unveil massive budget cuts later as fears mount that the debt crisis in Greece may spread to Spain.
The country’s deficit is currently 11% of GDP and Spain plans to reduce it by 4.7% by the end of next year.
There have been fears that the Greek [...]
Asian shares have fallen sharply today as fears mount that Greece’s crisis would spread to other European countries.
In an interview with French newspaper, La Parisien, the head of the International Monetary Fund (IMF), Dominique Strauss-Kahn, admitted earlier this week that the possible spread of the crisis was a concern.
He said: “We have to succeed [...]
The European Commission has predicted that the 16-member euro zone will see growth of 0.9% this year – slightly better than the 0.7% forecast earlier this year.
However, Greece‘s economy, which has been in recession since the second quarter of 2009, is expected to contract by 3% this year, as the country in in the [...]
Standard & Poor’s (S&P) have today downgraded Spain’s credit rating by one notch to AA from AA+ and comes as the head of the International Monetary Fund (IMF) warned that the crisis in Greece could spread throughout Europe.
Following the news, the euro fell against the dollar to $1.3129 – a level not seen since [...]