Eurozone

'Greece is bankrupt. Full stop. Game over'

Submitted by Rain on Sun, 08/26/2012 - 09:58

Published on Aug 23, 2012 by
 

It's 'crunch time' for Greece right now - the German leader and French president are working out whether to grant Athens the 'breathing space' it says it needs to sort its finances out.

The country's been relying on international loans for over two years, but is struggling to meet its bailout conditions.

Meanwhile, Chancellor Merkel's allies in Berlin say 'a Greek exit wouldn't have a 'great impact' on the Eurozone'.

Investment advisor Patrick Young says, whether on not Greece is provided with more time, there's no chance it'll manage to get its economy back on track within the Eurozone.

 

Max Keiser: West bankers destroy global economy

Submitted by Rain on Fri, 07/27/2012 - 05:47

Published on Jul 26, 2012 by
 

UK economic output has plummeted in the second quarter: the Diamond Jubilee and exceptionally wet weather cited as reasons for lack of growth. As a matter of fact its UK's longest double-dip recession on record. Furthermore, economic news out of Europe remains grim: From Spain's banking crisis, to manipulated interest rates, known as Libor, to the persistent eurozone debt crisis, not to mention Greece being ever closer to leaving the eurozone. Even Germany, Europe's economic powerhouse, is not immune. This edition of News Analysis takes a look at how deeply in trouble Europe is.

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Euro-Contagion: Germany outlook 'negative' over nonstop debt debacle of others

Submitted by Rain on Tue, 07/24/2012 - 18:33

Published on Jul 24, 2012 by

Rating agency Moody's has set itself on a collision course with German Chancellor Angela Merkel - after changing the country's credit outlook to negative. The agency even hinted at possible downgrades - if the Eurozone gets worse. But Merkel immediately fired back that Germany would remain Europe's financial haven, despite the Eurocrisis.

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