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European Central Bank
Latest European Central Bank Items
Greece's new interim Cabinet was sworn in Friday, with former European Central Bank Vice President Lucas Papademos at its helm as prime minister and the key position of finance minister unchanged.
A Japanese aid worker was among 10 people killed by a second earthquake in eastern Turkey, and angry residents protested Thursday that authorities should have closed down two collapsed hotels that were damaged by the first temblor.
Expectations that respected economist Mario Monti will lead a new interim Italian government helped calm market fears Thursday as the country was heading for a Greek-style crisis that would threaten the existence of the entire eurozone.
Greece appointed senior banker Lucas Papademos prime minister Thursday of an interim unity government that will seek to cement a European debt deal and stave off national bankruptcy.
Financial markets pounded Italy on Wednesday as investors hoped that Premier Silvio Berlusconi would not linger in office and delay reforms. Italy's president responded by declaring there was no doubt that Mr. Berlusconi would leave soon, appearing to soothe investors.
Pressure mounted on Premier Silvio Berlusconi to resign so a new government could pass the economic reforms Italy needs to avoid financial disaster.
News that Greece will scrap a referendum on unpopular budget cuts and an unexpected interest rate cut in Europe sent the Dow Jones industrial average up nearly 210 points Thursday, the second day in a row of big gains.
In the spring of 1947, I was on deck as one of that dying breed of trans-Atlantic liners was tugged into Le Havre. Despite decades of experience, there was incredible confusion as French stevedores hassled over tying up the ropes.
Chancellor Angela Merkel won the support of German lawmakers to increase the firepower of the eurozone's bailout fund Wednesday and indicated that private investors such as banks should take a write-down of at least 50 percent on their Greek debt holdings.