BRUSSELS (AP) — European leaders were wrestling Thursday over how much of their sovereignty they are willing to give up in a desperate attempt to save the ambitious project of continental unity that grew from the ashes of World War II.
BERLIN — European nations were pressed Tuesday by a credit downgrade threat and the U.S. Treasury chief to deliver on markets’ huge hopes for a solution to the 2-year-old financial crisis engulfing the continent. Germany and France downplayed Standard & Poor’s warnings to downgrade 15 eurozone nations and Europe’s bailout fund. But a downgrade of their AAA ratings would complicate their efforts to restore investor confidence in Europe.
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.
One of the more recent additions to the arsenal of tools the Delaware County District Library has to help us fulfill our mission of being our community’s information provider is the Gale Virtual Reference Library. You can access this current, accurate and authoritative collection of online reference books by clicking on the icon located on the front page of the library’s website, delawarelibrary.org.
For the past couple of weeks we have examined the critical issues facing some members of the EU. The need to properly address the unfolding crisis cannot be overstated, with a failure to calm developing market fears potentially impacting every other major economy around the world, including the United States.
ROME (AP) — Under pressure to control its dangerous debt, Italy sped a package of reforms toward approval Friday and prepared to hand its dysfunctional government over to a technocrat who Europe hopes can save the country from going broke. Financial markets around the world rallied in relief.
In a wild week that gripped the world’s financial markets, the prime minister of Greece threw a monkey wrench into a fragile (and still somewhat amorphous) plan that was supposed to bail out the financially strapped Greek economy, stabilize European banks, and recapitalize the European Financial Stability Facility (EFSF).
ATHENS, Greece (AP) — Greece’s embattled prime minister and main opposition leader agreed Sunday to form an interim government to ensure the country’s new European debt deal, capping a week of political turmoil that saw Greece face a catastrophic default that threatened its euro membership and roiled international markets.