Europe Makes It Tougher For the Fed To Raise Rates
Europe is going to have zero interest rates for a lot longer, and that is going to make it harder for the United States to stop having them itself. On Thursday, the European Central Bank all-but-announced it’s about to start doing more to keep its nascent recovery from not being one at all. That could mean buying bonds with newly printed money not just until September 2016, like it has said, but well past it. Or it could mean buying...
Greek Crisis Could Affect U.S.
The financial crisis in Greece has upended the lives — and livelihoods — of residents of the Mediterranean nation. The shutdown of the banking system has resulted in long lines at ATMs to withdraw a daily maximum of just 60 euros, about $67. Citizens have stockpiled food and fuel, leading to empty shelves at grocery stores and crowded gas stations. Business leaders have warned that shortages of crucial medicines could be next. It is...
Europe Urges Greece Remain in Eurozone
Athens, Greece — Anxious pensioners swarmed closed bank branches Monday and long lines snaked outside ATMs as Greeks endured the first day of serious controls on their daily economic lives ahead of a referendum that could determine whether the country has to ditch the euro currency and return to the drachma. Greek Prime Minister Alexis Tsipras was defiant, urging voters to reject creditors’ demands, insisting a “No” vote in Sunday’s...
Greece Will Hold Pivotal Vote
Athens, Greece — Greece’s parliament voted early today in favor of Prime Minister Alexis Tsipras’ motion to hold a July 5 referendum on creditor proposals for reforms in exchange for loans, with the country’s future in the eurozone looking increasingly shaky. Tsipras’ surprise call stunned Greece’s international debt negotiators, and the country took a big step closer to falling out of the euro currency union after fellow eurozone...
Greece Debt Talks Crumble
Last-ditch negotiations in Brussels between Greece and its creditors collapsed after just 45 minutes on Sunday, setting up a week that could decide the fate of Europe’s most indebted country. The euro dropped as the European Commission said the talks had broken up with the divide between what creditors demanded and what Greece was prepared to do unbridged. The focus now shifts to a June 18 meeting in Luxembourg of euro-area finance...
