PARIS — The day after Francois Hollande rode to power in France on a slogan of “change now,” the conversation in Europe was already different Monday: Austerity had become a dirty word.
BRUSSELS — The countries that use the euro pulled Greece back from an imminent and potentially catastrophic default on Tuesday, when they finally stitched together a euro130 billion ($170 billion) rescue they hope will also provide a lifeline to their common currency.
In what now seems to be a weekly ritual, U.S. financial markets fluctuated throughout the past week based upon anticipated future economic and political developments. But as has become more and more common, it is not the potential outlook for our country that has memorized financial market participants, but rather that of the European Union’s 27 country confederation, or even more specifically, the euro-zone’s 17 member nations that utilize a common currency, the euro.
BRUSSELS (AP) — The European Union said Friday that 26 of its 27 member countries are open to joining a new treaty tying their finances together to solve the euro crisis. Only Britain remains opposed, creating a deep rift in the union.
PARIS (AP) — Seeking to restore confidence in the euro, the leaders of France and Germany jointly have called for changes to the European Union treaty so that countries using the euro would face automatic penalties if budget deficits ran too high.
WASHINGTON — President Barack Obama said Monday the United States stands ready to do its part to help Europe with its deepening debt crisis, even as the White House ruled out any financial contributions from U.S. taxpayers.
ATHENS, Greece — The Greek prime minister survived a crucial confidence vote early Wednesday, keeping alive a government dedicated to averting a debt default that could spark a financial maelstrom around the world.