European Central Bank

Island Of Tranquility?

CP | Juergen Baetz And Don Melvin, The Associated Press | Posted 05.24.2013 | Canada Business

BRUSSELS - Cyprus secured a package of rescue loans in tense, last-ditch negotiations early Monday, two EU diplomats said, saving the country from a b...

In Sign Of Global Slowdown, Central Banks Worldwide Slash Rates

CP | The Associated Press | Posted 09.04.2012 | Canada Business

FRANKFURT - The European Central Bank cut its benchmark interest rate to a record low Thursday to spark economic growth but gave little sign it would ...

Europe's Top Banker Slams Member Countries

CP | David McHugh, The Associated Press | Posted 07.31.2012 | Canada Business

FRANKFURT - The setup of the 17-country euro currency union is unsustainable, the head of the European Central Bank has told EU leaders, warning they ...

Eurozone Unemployment At Record High

CP | The Associated Press | Posted 05.01.2012 | Canada Business

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...

The Eurozone Country Where One In Five Jobless

CP | Pan Pylas, The Associated Press | Posted 04.01.2012 | Canada Business

LONDON - Unemployment across the 17 countries that use the euro ended 2011 at a record high of one person in every 10, official figures showed Tuesday...

Bad Sign: Eurozone Banks Hoarding Record Amounts Of Cash

CP | The Associated Press | Posted 03.11.2012 | Canada Business

FRANKFURT - Banks in the countries that use the euro held a record amount overnight at the European Central Bank in a sign of unease over the eurozone...

Not Gonna Take It Anymore

CP | The Associated Press | Posted 02.17.2012 | Canada Business

FRANKFURT - A top European Central Bank official has publicly discussed the reasons for his surprise resignation, saying he is not satisfied with the ...

Why Canadians Should Care About A Euro Collapse

CBC | Posted 01.31.2012 | Canada Business

The demise of the euro would deliver a significant blow to the Canadian economy, leading to less trade, higher unemployment and a possibl...

Berlusconi To Resign

CP | Nicole Winfield, The Associated Press | Posted 01.12.2012 | Canada Business

ROME - Italian Premier Silvio Berlusconi resigned Saturday after parliament's lower chamber passed European-demanded reforms, ending a 17-year politic...

G20 Finance Ministers Feeling The Pressure To Solve Debt Crisis

CP | Gabriele Steinhauser, The Associated Press | Posted 12.15.2011 | Canada Business

PARIS - Finance chiefs of the Group of 20 rich and developing nations said Saturday that they will ensure the International Monetary Fund has the reso...

Greece's Creditors May Lose 60 Per Cent

CP | Elena Becatoros, The Associated Press | Posted 12.11.2011 | Canada Business

ATHENS, Greece - Greece is likely to receive the next batch of its bailout loans in early November, international debt inspectors said Tuesday, if the...

Moody's Downgrades 8 Greek Banks By 2 Notches

CP | Elena Becatoros, The Associated Press | Posted 11.22.2011 | Canada Business

ATHENS, Greece - Moody's downgraded eight Greek banks Friday, citing their exposure to their government's bonds and the deteriorating economic situati...

TSX, Loonie Plunge As Fear Grips Markets

CP | John Valorzi, The Canadian Press | Posted 11.22.2011 | Canada Business

TORONTO - Fears that a suffocating debt crisis could choke the life out of the world's delicate economic recovery battered the world's stock markets T...

Default Looming, Greece Faces More Austerity

CP | The Associated Press | Posted 11.21.2011 | Canada Business

ATHENS, Greece - Greece will have to take fresh austerity measures, the debt-ridden country's finance minister said Wednesday, a day after Athens move...

U.S. Presence At Eurozone Meeting Shows Reach Of Europe's Crisis

AP | Posted 11.16.2011 | Canada Business

WROCLAW, Poland (AP) - Finland's finance minister said she doesn't expect the eurozone to resolve a dispute over her country's demand for collateral f...

Shocker: Switzerland Pegs Franc To Euro

CP | John Heilprin, The Associated Press | Posted 11.05.2011 | Canada Business

GENEVA - The Swiss National Bank on Tuesday decided to fix the country's exchange rate at 1.20 francs per euro and indicated it would buy an unlimited...

Italy's Largest Union Mulls Strike Over 'Inequity' In Budget Cuts

AP | Posted 10.22.2011 | Canada Business

ROME (AP) - The leader of Italy's largest union is threatening a general strike against an austerity package that Prime Minister Silvio Berlusconi's g...

Italy Austerity Plan Sets Up Showdown WIth Labour

CP | Alessandra Rizzo, The Associated Press | Posted 10.14.2011 | Canada Business

ROME - The leader of Italy's largest union is threatening a general strike against an austerity package that Prime Minister Silvio Berlusconi's govern...

No Respite: World Markets Tank Again Tuesday

The Globe and Mail | Posted 10.09.2011 | Canada Business

Global markets were in freefall for the 10th straight trading day Tuesday, as Asian and European commodity indices plunged on inflation and debt conce...

Oil Sputters: Down $30 Per Barrel In 3 Months

CP | Posted 10.08.2011 | Canada Business

NEW YORK, N.Y. - Oil prices fell over $3 to near US$83 a barrel Monday after Standard & Poor's downgraded the U.S.'s credit rating — a blow to confi...

Massive Selloff On Greek Stock Market

CP | Posted 10.08.2011 | Canada Business

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 199...

Flaherty: Market Meltdown Will Be Averted

CP | Posted 10.08.2011 | Canada Business

OTTAWA - North American markets are likely to face more selling pressure today following a downgrade in the United States' credit rating and a worseni...

Markets Lurch On Debt Crisis, Bond-Buying

CP | Pan Pylas, The Associated Press | Posted 10.08.2011 | Canada Business

LONDON - A pledge from the European Central Bank to support the shaky bonds of Italy and Spain helped calm investor nerves in Europe Monday despite bi...

'Our Financial System Has Become A Madhouse'

The Guardian | Posted 10.06.2011 | Canada Business

What we have witnessed is a mass global flight from risk and an accompanying hoarding of cash on a huge scale. It was the worst week in the financial ...

Chaos Grips Global Currency Markets

CP | Posted 10.04.2011 | Canada Business

TORONTO - The Canadian dollar tumbled more than a U.S. cent while the U.S. dollar strengthened following a move by the Bank of Japan to control the ri...