November 13, 2012 |
Stocks turned mixed after European leaders put off an aid payment to Greece, adding to investor worry over protraction of the Eurozone debt crisis. After initially opening lower, the Dow Jones industrial average turn slightly positive. The Dow added 5 points, essentially unchanged at 12,820. The Standard & Poor's 500 index was down 1 point, or 0.1%, at 1,379. The Nasdaq was down 10 points, or 0.3%, to 2,895. European finance ministers meeting in Brussels gave Greece an additional two years to meet conditions of its bailout package, the Associated Press reported.
June 20, 2012 |
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke said the central bank was hoping for the best concerning the European debt crisis but was ready to step in with more forceful action if needed. "We are hoping for the best ... but we are prepared in case things get worse to protect the U.S. economy and the U.S. financial system," Bernanke told reporters Wednesday. He defended the move by the Federal Open Market Committee on Wednesday to extend a program designed to lower long-term interest rates, a modest step in the face of slowing growth in the U.S. and abroad.
June 20, 2012 |
LOS CABOS, Mexico - President Obama back-slapped and smiled through another gathering of world leaders this week, but left a meeting of G-20 nations Tuesday in much the same place he was in when he arrived: waiting for Europe to prevent disaster. The Eurozone's debt crisis continues to present a growing menace to the American economy. And that puts Obama in a position all presidents hope to avoid, especially in an election year: His political fortunes could be at the mercy of events out of his control.
June 19, 2012 |
LOS CABOS, Mexico — Relief over the pro-euro currency vote in the Greek elections quickly faded Monday amid signs of persistent troubles for the Eurozone, as world leaders grappled with the grim reality that Europe's debt and political crises are far from over. Greek conservatives, who support a bailout for the struggling nation, scrambled to form a coalition government after winning national elections Sunday but fell short of an outright majority in Parliament. Stocks fell sharply in Italy, and the cost of borrowing for Spain reached a euro-era high amid investors' fears that it would become the next Eurozone nation to request a full-fledged government bailout.
June 19, 2012 |
Declaring that there is only "one president at a time," President Obama dismissed criticism from Mitt Romney's campaign over his handling of the European economic crisis and suggested his rival's team had commented without full knowledge of the situation. In a news conference at the end of the Group of 20 summit in Los Cabos, Mexico, Obama also denied fearing that his reelection chances could be tied to whether Europe puts its fiscal house in order. His primary focus, the president said, is the state of the American economy.
June 18, 2012 |
LOS CABOS, Mexico - European leaders appealed for patience from the world as they came under increasing pressure after market relief from the Greek election proved short-lived and Spain came under renewed financial strain. The presidents of the European Commission and European Council, in a news conference shortly after the opening of the G-20 summit, insisted that Europe has the political will to fix the continent's debt crisis. They said they were encouraged by Greece's election outcome, and indicated a willingness to help Athens, once a governing coalition is formed, hit financial targets to meet its bailout obligations.