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.” ...
IMF money for Greece contingent on debt buy back
WASHINGTON - The International Monetary Fund will not disburse Greece's next bailout tranche until the country completes a voluntary buy back of its debt, an IMF spokesman said on Thursday.
Found more than 1 month ago on channel Reuters
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
IMF open to negotiating terms of Greece's bailout
WASHINGTON -- The International Monetary Fund is open to adjusting the terms of a Greek bailout and will send a team to Greece next week to meet with the new government....
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.