Eurozone

ASSOCIATED PRESS

What the Greek Tragedy Means for Canadians

Greece does not have its own currency to devalue to gain economic relief. And so the nation's debt problem can't be fixed by issuing more loans with conditions that kill economic growth. If truth be told, there has never been a bailout designed to bail out the Greeks. The aid issued to date has been all about buying time to play musical bondholders.
ASSOCIATED PRESS

Why Canada Should Cautiously Monitor Greece's Financial Crisis

A Greek crisis cannot be good for the world right now, and we cannot/should not be mute spectators. Here are some reasons why we in Canada in particular, and the rest of the world in general, have to cautiously monitor the current events in Greece, and should try to guide or help Greece get out of the crisis before it becomes contagious. Canada already has internal financial stresses, just like many other countries around the world do, at this moment; this Greek crisis can add to external stress for many countries, and this really is bad timing, and an unwanted occurrence for the world economy.

Currencies Are Another Casualty of Quantitative Easing's Final Act

Just over a year ago, markets went into a tailspin. At that time then-Fed Chairman Bernanke made what was supposed to be a benign announcement that gave new meaning to the word "taper." Currencies were thrust into the mayhem well ahead of the statement becoming action, as markets tried to anticipate the pricing effects of this new monetary regime. Tapering is now well underway; how are currencies weathering the storm?
AP

Is That You, Europe?

BRUSSELS - Europe's economy is growing faster, raising hopes for a sustainable recovery, but that may not be enough to bring sky-high levels of unemployment down anytime soon.The economy of the euro b...
PA

The World's Most Modest Superpower

Polls in Germany today show Dr. Angela Merkel will win the next election, a stunning result despite her steady hand in support of bailing out the deadbeat neighbours in Europe. She is a political phenomenon and the most powerful female in the world. She is a brilliant, but modest PhD in Quantum Chemistry, who, appropriately, leads the world's most modest superpower.
AP

Eurozone Economy Actually Grows

MADRID - Minube, a travel startup on the outskirts of Madrid, is doing something that many Spanish companies haven't thought about for years: It's hiring.The company, which sells bookings as it helps...
Getty Images

The Contagion Spreads

LONDON - The eurozone economy has passed another bleak milestone.Official figures Tuesday showed that unemployment across the 17 European Union countries that use the euro has struck 12 per cent for t...
AP

Protests Greet Merkel In Greece

ATHENS, Greece - German Chancellor Angela Merkel got a hostile reception from many ordinary Greeks Tuesday when she flew into Athens on her first visit to the country since its debt crisis erupted thr...
AP

Merkel Braves Protesters In Greece

ATHENS, Greece - German Chancellor Angela Merkel makes her first visit to Greece since the eurozone crisis began here three years ago. Her five-hour stop is seen by the government as a historic boost...

Keep Your Mittens Off Canada

Mitt Romney is touring the UK, Israel, and Poland this week ­-- but not Canada. Why not? Wait, wait, hear me out: This is not the usual "they forgot Canada again!" lament. The political purpose of Romney's foreign tour was to accuse President Barack Obama of straining relationships with key allies. Right now, the bilateral U.S.-Canada relationship is working very well for both countries. A photo-op of a smiling Mitt Romney wearing a hardhat beside a pipeline in Fort McMurray, Alta., would not help.
AP

Spain, Ireland, Italy and Greece: Which One Doesn't Belong?

If no longer -- thank goodness -- the geo-political cockpit of Europe (caught between rival ideologies in the civil war era), Spain cannot be dismissed as a periphery or marginal country out of step with the European project. Spain has all the features of a highly efficient and accountable country, from its ability to produce majority governments from both the respectable left and right, its elaborate system of federalism, and its increased multicultural identity.
Alamy

What Italy's Victory Over Germany Really Means

The irony of Germany's loss to Italy in the Euro 2012 cup will not be lost on those who have been watching the Eurozone financial crisis play out in recent weeks. Germany's Chancellor Angela Merkel has been steadfast in her opposition to a plan for a common debt issuance program (so-called "euro bonds"), while her electorate have turned up their collective noses to calls for additional handouts to the problem centres like Greece.
AFP

Will a Soccer Match Decide Greece's EU Fate?

Greeks will watch the Euro 2012 soccer match between their country and Russia before going to the polls on June 17. If the Greeks lose, the country will vote to stay in the Eurozone. If they win, all bets are off. But, like football, forecasting is impossible (unless the games are rigged) which means that anything can happen. Here are three possible scenarios.
CP

Not Making Friends In Europe?

OTTAWA - It's unclear whether Stephen Harper made any European friends during his visit this week. It's a safe bet, however, that his Conservative MPs in Ottawa made none.As the prime minister jetted...