European Central Bank

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Prices Are an Ocean Apart...For Now

Price movements have grabbed the headlines in recent weeks. Commodity prices are falling, and as always, there are various arguments about the reasons this time. The implications are serious, so the debates are warranted. But the more pressing issue is recent movement in the general price level. Overall price growth has weakened lately, and there is renewed worry about disinflation and deflation (the dreaded Ds). Five years beyond the crisis, and we are still worried about this? What's going on?
AP

Island Of Tranquility?

BRUSSELS - Cyprus secured a package of rescue loans in tense, last-ditch negotiations early Monday, two EU diplomats said, saving the country from a banking system collapse and bankruptcy.The cash-str...
CP

Eurozone Unemployment At Record High

BRUSSELS - Unemployment in the 17-country eurozone unexpectedly spiked to 10.7 per cent in January, its highest rate since the euro was established in 1999, while inflation pushed beyond the European...
ap

Not Gonna Take It Anymore

FRANKFURT - A top European Central Bank official has publicly discussed the reasons for his surprise resignation, saying he is not satisfied with the direction Europe's currency union has taken.Juerge...
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Berlusconi To Resign

ROME - Italian Premier Silvio Berlusconi resigned Saturday after parliament's lower chamber passed European-demanded reforms, ending a 17-year political era and setting in motion a transition aimed at...
AP

Massive Selloff On Greek Stock Market

ATHENS, Greece - Shares on the Athens Stock Exchange are plunging, with the general price index down 4.8 per cent at levels not seen since the mid 1990s. The general index stood at 1,011.70 as global...
AP

Moody's Slashes Greek Debt Rating, Warns Default All But Certain

ATHENS, Greece - Moody's downgraded Greece's bond ratings by a further three notches Monday and warned that it is almost inevitable the country will be considered to be in default following last week's new bailout package.The agency said the new EU package of measures implies "substantial" losses for private creditors. As a result, it cut its rating on Greece by three notches to Ca -- one above what it considers a default rating.