Mario Draghi: The Man Who Would Save Europe
There is one reality for bankers, another for the rest of us. That is the lesson most easily drawn from the Jan. 10 press conference of the European Central Bank (ECB). Just hours earlier, Greece had released its latest labor statistics: a steep overall jobless rate of 26.8% masking even worse news for young Greeks, with over half of them — an astonishing 56.6% — out of work. The human toll of the country’s struggle to avoid a ragged departure from the European single currency could scarcely be starker. In 2012 the 17-nation euro zone lost more than 2 million jobs as it grappled with its fierce debt crisis. Yet the mood at the ECB, and especially of its president Mario Draghi, appeared chipper, at least by the sobersided standards of the institution and the office holder. “We spoke a lot about contagion when things go poorly, but I believe there is a positive contagion when things go well,” he said. “And I think that’s also what is in play now. There is a positive contagion.” ...
Stocks lower with fiscal cliff and Greece in spotlight
U.S. stocks opened lower Monday as investors returned to work with one eye on the results from the first weekend of the holiday shopping season, and the other on upcoming economic negotiations in Washington and Europe.
Found more than 1 month ago on channel CNN Money
PODCAST: The Fed's next move, a perfect work record
The Fed will wrap up a meeting today in Washington, and experts are guessing that policymakers will launch more monetary stimulus to boost the economy. With austerity still the hot button word in Europe, here in the U.S., the Postal Service could be going the way of Greece if Congress doesn't pass a restructuring plan to close a multi-billion dollar budget gap. And why public transit riders aren't so happy about Apple's new operating system for iPhones and iPads.
Relieved Europe hints at more time for Greece
BERLIN/ATHENS - Euro zone paymaster Germany, relieved at a narrow election victory for Greece's pro-bailout parties, signaled on Monday it may be willing to grant Athens more time to meet its fiscal targets to avert a catastrophic euro exit.
Found more than 1 month ago on channel Reuters
As Greece votes, world investors hold their breath
WASHINGTON -- Greece's angry voters could set off a chain of events Sunday that takes down Europe's single currency, roils world stock markets and carries financial chaos around the globe....