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Finance ministers from the 17 countries that use the euro as their currency met on Tuesday in yet another effort to avoid a financial collapse that could mean the end of the euro. The finance ministers are discussing a wide range of possible solutions to the current sovereign debt crisis. The...

Moody's Investors Service sounded the alarm early on Monday morning that the credit ratings of all members of the European Union were now at risk because of the financial crisis that has been escalating in Europe for more than a year. The ratings agency said that the financial crisis that has...

Germany is denying reports that Germany, France and four other Eurozone members with triple A credit ratings are reportedly considering issuing "Elite Bonds". According to German magazine Die Welt, the governments of Germany, France, Austria, Finland, Luxembourg and the Netherlands have discussed...

German Finance Minister Wolfgang Schaeuble said the European Union needs to quickly enact treaty changes in order to better deal with the eurozone financial crisis. The German Finance Minister said that a treaty change was needed so that the European Union could have veto power over the budgets of...

Moody's Investors Service dropped a bombshell on the markets late on Monday when the credit rating agency said that it will "monitor and assess” France's Aaa credit rating. The markets have reacted negatively to much of the recent news out of Europe. The possibility of a downgrade to France's...

Slovakia put the future of the euro in jeopardy yesterday when the tiny, poor European country voted against enhanced powers for the European Union that are needed in order to prevent a financial meltdown. Slovakia's ruling party failed to get enough votes to give the European Financial Stability...

European Central Bank President Jean-Claude Trichet warned the European Parliament in Brussels on Tuesday that the financial crisis facing the eurozone is systemic and that Europe's leaders must take decisive action in order to prevent it from escalating and spreading. Trichet will soon be stepping...

Dexia SA agreed to sell its Belgian banking retail operations to the Belgian government for 4 billion euros ($5.4 billion) in order to prevent the Belgian-French financial institution from going bankrupt. Dexia had recently lost access to short term funding because of concerns over its debt...

Banking stocks across Europe have been rising since European Commission President Jose Manuel Barroso said that the eurozone's leaders were considering recapitalizing the region's banks. Banking stocks had already been given a boost after German Chancellor Angela Merkel said that Europe needed to...

The government of German Chancellor Angela Merkel won a victory on Thursday when the German parliament passed a vote expanding the powers of the institution charged with saving troubled eurozone members like Greece, Ireland and Italy from default. The German Parliament overwhelmingly approved a...

Moody's Investors Service downgraded 8 Greek banks on Friday, citing the banks' exposure to Greek government bonds and a worsening Greek economy. Earlier this year, all of Greece's major banks agreed to a government bond swap that resulted in them reporting billions of euros in losses, which hurt...

The Capitol of Greece was brought to a standstill on Thursday as thousands of public transport workers went on strike in protest of the latest round of austerity measures that are aimed at convincing Greece's international creditors that the country is serious about reducing its fiscal deficits....

It was reported on Tuesday morning that the state-run Bank of China has halted FOREX swaps with several top European banks. The banks included Societe Generale and Credit Agricole, which were downgraded by Moody's Investors Service last week, and BNP Paribas, which Moody's said it will need more...

Chinese Premier Wen Jiabao crushed the hopes of many European optimists on Wednesday when he said while attending the World Economic Forum that it was up to European countries to "put their own houses in order" instead of hoping for cash rich China to bail them out. Premier Wen was responding in...

European stocks were near a two year low as French banking stocks took a beating during trading in Europe on Tuesday. There are growing concerns that French banks are facing a liquidity crisis that will worsen if Greece defaults on its national debt. French and German financial institutions are...