Which country will serve as the trigger for the next financial crisis? Given the continuing rise in debt-to-gross domestic product (GDP) ratios in many countries, it is apparent that a new financial crisis will occur. Most of the speculation has been about when, rather than where.
German Chancellor Angela Merkel got a hostile reception from many ordinary Greeks on Tuesday when she flew into Athens on her first visit to the country since its debt crisis erupted three years ago.
German Chancellor Angela Merkel got a hostile reception from many ordinary Greeks on Tuesday, when she flew into Athens on her first visit to the country since its debt crisis erupted three years ago.
Greece may get more time to cut its budget, its creditors indicated Friday in another sign of increasing flexibility and optimism across the 17 countries that use the euro, while Spain appeared to be inching closer to making a formal request for financial assistance.
Fear that Spain may need a bailout sent its borrowing costs soaring, the euro to a two-year low against the dollar and stocks around the world tumbling as investors pulled back Monday from all manner of risk.
The Turkish ambassador this week accused the top Democrat on the House Foreign Affairs Committee of a cynical assault over the divided island of Cyprus in an election-year political stunt.
Greece's creditors agreed Friday to take cents on the euro in the biggest debt writedown in history, providing much-needed breathing room for European nations living beyond their means.
Stock market gains accelerated Thursday on indications that a deal to restructure Greece's debt would succeed. That news overshadowed a small increase in applications for unemployment benefits last week.
Calm returned to the stock market Wednesday, a day after the biggest dive this year. Stocks rose smoothly as reassuring reports on productivity and hiring overshadowed jitters about the Greek debt crisis.