Spanish and Italian bond yields rose on Monday and financial market investors saw little chance of respite in the euro zone's debt crisis from a meeting of finance ministers later in the day.
Spanish ten-year yields rose another 10 basis points to sit above the critical seven percent level seen as unsustainable in the longer-term. The euro fell to a two-year low against the dollar, reflecting doubts over how measures agreed last month to stem the crisis will be implemented.
Finance ministers - who only start meeting as European markets are closing - face a raft of questions over how they will aid indebted states and banks and construct a new banking oversight regime, but the latest talks may only highlight the initial deal's limitations.
Read more: EURO GOVT-Spanish yields rise ahead of finmins meeting | Reuters
Showing posts with label euro debt crises. Show all posts
Showing posts with label euro debt crises. Show all posts
1/31/12
Eurozone unemployment hits Euro-era high of 10.4%
Unemployment in the 17-nation eurozone ended 2011 at 10.4 per cent, a new record high for the single currency since its launch at the start of 1999, official figures showed Tuesday.
Eurostat, the EU's statistics office, said the rate in December was unchanged, as November's was revised upwards from a previous estimate of 10.3 per cent. Unemployment has been steadily rising over the past year — in December 2010, it stood at 9.5 per cent — largely because of Europe's debt crisis. The agency said just under 16.5 million people were unemployed in the eurozone, up 751,000 on the year before.
The highest unemployment rate remains in Spain, where 22.9 per cent of the working population were without work, though Greece is nearing with 19.2 per cent rate. The lowest rate in the eurozone is Austria's 4.1 per cent.
For more: Eurozone unemployment hits Euro-era high - Business - CBC News
Eurostat, the EU's statistics office, said the rate in December was unchanged, as November's was revised upwards from a previous estimate of 10.3 per cent. Unemployment has been steadily rising over the past year — in December 2010, it stood at 9.5 per cent — largely because of Europe's debt crisis. The agency said just under 16.5 million people were unemployed in the eurozone, up 751,000 on the year before.
The highest unemployment rate remains in Spain, where 22.9 per cent of the working population were without work, though Greece is nearing with 19.2 per cent rate. The lowest rate in the eurozone is Austria's 4.1 per cent.
For more: Eurozone unemployment hits Euro-era high - Business - CBC News
11/3/11
Europe debt action back on course after Greeks abandon vote - by Lesley Clark and Kevin G.Hall
Leaders of the world's most industrialized nations, gathered here for the annual G-20 summit, scrambled Thursday to rescue a European Union deal to restructure Greek debt and prevent a regional financial crisis from spreading and creating further global economic disruption.
President Barack Obama and his European Union counterparts held closed-door meetings looking for ways to salvage last week's marathon EU deal and get the world's economy back on the path of growth.
For more: Europe debt action back on course after Greeks abandon vote - KansasCity.com
President Barack Obama and his European Union counterparts held closed-door meetings looking for ways to salvage last week's marathon EU deal and get the world's economy back on the path of growth.
For more: Europe debt action back on course after Greeks abandon vote - KansasCity.com
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