ATHENS, Greece — Greece was in turmoil and the world economy in limbo Thursday as a high-stakes game of political brinkmanship in Athens led Prime Minister George Papandreou to abandon his explosive plan to put a European rescue deal to a referendum.
Last week, after much angst and indecision, the 17 nations making up the core of the European Union (which fully utilize the euro as their common currency) agreed to a framework to resolve their financial crisis. In a nutshell, the countries involved needed to address three core issues.
NEW YORK (AP) — An agreement to contain the European debt crisis electrified the stock market Thursday, driving the Dow Jones Industrial average up nearly 340 points and putting the Standard & Poor’s 500 index on track for its best month since 1974.
BRUSSELS (AP) — European leaders yet again put off the tough decisions needed to save the continent from its debt crisis but promised Sunday that a comprehensive plan is still coming.
The stock market buckled Monday under the weight of a crisis in Europe and danger of recession at home. Reeling from a downgrade of American debt, the Dow Jones industrials plunged 634 points. It was the worst day for the market since the financial crisis in the fall of 2008 and extended Wall Street’s sudden, sharp decline. Stocks have lost 15 percent of their value in just two and a half weeks.
NEW YORK — U.S. investors will have their first chance today to react to Standard & Poor’s decision to strip the U.S. government of its top credit rating. But the bigger issues facing Wall Street and stock markets worldwide remain debt-ridden countries in Europe and concerns that the global economy is weakening.
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.
BEIRUT — Syrian security forces fired on thousands of protesters Friday, killing a teenage boy and at least 15 other civilians as accounts emerged of more indiscriminate killing and summary executions by the autocratic regime of President Bashar Assad, activists said.