Canada Eurozone

Why Canada Should Cautiously Monitor Greece's Financial Crisis

Gerry Som | Posted 07.06.2015 | Canada Business
Gerry Som

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.

Greek Finance Minister Quits

CP | Elena Becatoros And Demetris Nellas, The Associated Press | Posted 07.06.2015 | Canada Business

ATHENS, Greece - Greek Finance Minister Yanis Varoufakis resigned Monday, saying he was told shortly after Greece's decisive referendum result that so...

Confusion Reigns As Greece Heads To The Polls

CP | Gregory Katz And Theodora Mavropoulos, The Associated Press | Posted 07.03.2015 | Canada Business

ATHENS, Greece - Greek voters facing a momentous vote Sunday that may determine the country's future in Europe can be forgiven for scratching their he...

As Greeks Live Through Disaster, Tourists Hit The Beach

CP | Gregory Katz, The Associated Press | Posted 06.30.2015 | Canada Business

ATHENS, Greece - There's an early morning buzz at Varvakios Market in downtown Athens as dozens of butchers prepare cuts. Knives slice through fresh m...

Greece To Default On IMF Payment, Finance Minister Says

CP/HuffPost Canada | Elena Becatoros, The Associated Press | Posted 06.30.2015 | Canada Business

ATHENS, Greece (AP) — Greece is set to become the first developed nation to not pay its debts to the International Monetary Fund on time, as the cou...

BMO Sees Bright Side Of Greek Crisis: Cheap Yogurt, Feta, Ouzo

The Huffington Post Canada | Daniel Tencer | Posted 06.29.2015 | Canada Business

Monty Python taught us always to look on the bright side of life, and the Bank of Montreal takes that advice to heart in a new report on the Greek deb...

Markets Tumble As Greece Bailout Talks Break Down

CP | Pan Pylas And Lorne Cook, The Associated Press | Posted 04.19.2015 | Canada Business

BRUSSELS - Greek shares led a European retreat Tuesday as investors reacted negatively to the breakdown in talks between Greece and its creditors in t...

Greenspan: Greece Will Leave Euro

CP/HuffPost Canada | Derek Gatopoulos, The Associated Press | Posted 04.11.2015 | Canada Business

Greece's exit from Europe's monetary union is just a matter of time, and when it comes, it will be a shock to the global financial system, Alan Greens...

And The Biggest Economic Surprise of the Year Goes To...

Peter Hall | Posted 02.16.2015 | Canada Business
Peter Hall

Six years beyond the onset of global crisis and the lamentation seems louder: pundits are increasingly perplexed by the planet's prolonged period of perpetual perturbations. So, does anything stand out in 2014 as an "out of the blue" development?

Currencies Are Another Casualty of Quantitative Easing's Final Act

Peter Hall | Posted 07.28.2014 | Canada Business
Peter Hall

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?

Quebec Could Turn Into Greece If It Kept Loonie: Report

The Huffington Post Canada | Daniel Tencer | Posted 03.20.2014 | Canada Business

Parti Quebecois leader Pauline Marois recently suggested that an independent Quebec would keep the Canadian dollar, and would try to keep a seat on th...

Is That You, Europe?

CP | Juergen Baetz, The Associated Press | Posted 04.16.2014 | Canada Business

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 unempl...

The World's Most Modest Superpower

Diane Francis | Posted 11.24.2013 | Canada Politics
Diane Francis

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.

Eurozone Economy Actually Grows

CP | Alan Clendenning And Pan Pylas, The Associated Press | Posted 10.13.2013 | Canada Business

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 hir...

On Bitcoin, the Tulip Mania and Stock Market Booms

Diane Francis | Posted 06.12.2013 | Canada Business
Diane Francis

Bubbles occur all the time, along with financial inventions. The most recent, and controversial, launched in 2009: A virtual currency called Bitcoin that enabled holders to trade directly and to hide their assets from governments.

The Contagion Spreads

CP | Pan Pylas, The Associated Press | Posted 06.02.2013 | Canada Business

LONDON - The eurozone economy has passed another bleak milestone.Official figures Tuesday showed that unemployment across the 17 European Union countr...

Protests Greet Merkel In Greece

CP | Derek Gatopoulos,Nicholas Paphitis, The Associated Press | Posted 12.09.2012 | Canada Business

ATHENS, Greece - German Chancellor Angela Merkel got a hostile reception from many ordinary Greeks Tuesday when she flew into Athens on her first visi...

Merkel Braves Protesters In Greece

CP | Derek Gatopoulos,Nicholas Paphitis, The Associated Press | Posted 12.08.2012 | Canada Business

ATHENS, Greece - German Chancellor Angela Merkel makes her first visit to Greece since the eurozone crisis began here three years ago. Her five-hour s...

Eurozone Gets New Bailout Fund

CBC | Posted 12.08.2012 | Canada Business

A new permanent bailout fund for the eurozone will come in to force later Monday at a meeting of eurozone finance ministers in Luxembourg. ...

Keep Your Mittens Off Canada

David Frum | Posted 09.27.2012 | Canada
David Frum

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.

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

Andrew Cooper | Posted 09.17.2012 | Canada Business
Andrew Cooper

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.

What Italy's Victory Over Germany Really Means

Andrew Pyle | Posted 08.29.2012 | Canada
Andrew Pyle

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.

Will a Soccer Match Decide Greece's EU Fate?

Diane Francis | Posted 08.18.2012 | Canada
Diane Francis

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.

Not Making Friends In Europe?

CP | Julian Beltrame, The Canadian Press | Posted 08.07.2012 | Canada Politics

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...

Frustrated Harper Warns About Europe Woes, Global Recession

CP | The Canadian Press | Posted 08.05.2012 | Canada Politics

OTTAWA - Prime Minister Stephen Harper is warning that Europe is running out of time to fix its debt problems, but his government has prepared "contin...