ireland

The euro suffered heavy losses on Monday, as debt fears moved from Greece to Italy, the Eurozone's third largest economy. At the moment, the euro lost 0.764% of its value to trade around $1.4155. At the same time, the euro suffered smaller losses against the Japanese yen, falling 0.625% to ¥114.32...

European Union politicians are up in arms over the latest in a series of downgrades of the sovereign debt of troubled EU member states by the United States-based rating agencies Moody's Investors Service, Standard & Poor's and Fitch Ratings. The uproar was spurred by the Moody's Investors...

Asian stocks climbed higher again during Friday trading in Asia, as the markets reacted positively to the Greek Parliament passing a second set of austerity measures that allowed Greece to receive the latest 12 billion euro ($17 billion) installment of its emergency loan from the European Union (EU...

It looks as though Greece will avoid plunging the international financial system into turmoil, as the Greek Parliament is preparing for a second vote on austerity measures that the European Union (EU) demanded in order for Greece to receive the next installment of the 110 billion euro bailout that...

It is no secret that China has massive foreign reserve holdings. Some economic and political commentators have expressed vague warnings regarding this fact frequently in recent years. Yet, there really has been no substantive economic reason to fear the quantity of China's reserves. That is, until...

The European Union said that the Greek Parliament must pass the latest round of austerity measures in order to receive the next installment of the 110 billion euro loan from the European Union and the International Monetary Fund. Without the next loan installment, the Greek government could run...

It looks as if it is all but certain that Greece will eventually default on its debt, whether it receives the next tranche of its bailout package or not. Just look at the spreads on Greek debt over comparable German debt. The spreads are astronomic. Late Friday before the bell, Moody's hit us...

Irish Finance Minister Michael Noonan is out with some comments on Greece, and the potential spillover to other Eurozone countries. Noonan said that Ireland fears "adverse consequences" from Greece. There is talk of a potential Greek default, and the worry is that if Greece were to default, then...

On Tuesday, an emergency meeting of euro finance chiefs failed to produce a plan for a privately financed Greek bailout, Bloomberg reported. Over the past several weeks, European politicians—particularly French President Nicolas Sarkozy and German Chancellor Angela Merkel—have been indicating that...

Stocks are selling off again, this time moving towards the lows of the session, and the losses are accelerating. At last check, the Dow was off 116 points, the NASDAQ was lower by 26 points, and the S&P 500 was off 13 points. The losses are being caused by worse than expected economic data,...

The likelihood that Greece will default on its debts increased yesterday after the Standard & Poor's rating agency gave Greece the lowest credit rating of any country that it covers in the world. This immediately sent Greece's borrowing costs higher as 10-year Greek bonds with yields above 17...

Speaking from Ireland last night, U.S. President Barack Obama expressed optimism for the European country's future. “Yours is a history frequently marked by the greatest of trials, and the deepest of sorrows, but yours is also a history of proud and defiant endurance,” he said at an address in...

The market has reacted negatively to local and regional voting results out of Spain in which the country's ruling Socialist party suffered embarrassing losses. The elections followed a week of protests led by youths that are unhappy with the country's extremely high unemployment rate and are also...

German Finance Minister Wolfgang Schaeuble said that if Greece has trouble financing its debt, Germany will be willing to help but that any new aid will have to be tied to "clear conditions". The problem is that the Greek government has a problem with accepting agreed upon financial conditions...

German Finance Minister Wolfgang Schaeuble said that if Greece has trouble financing its debt, Germany will be willing to help but that any new aid will have to be tied to "clear conditions". The problem is that the Greek government has a problem with accepting agreed upon financial conditions...