Central bankers getting ready if Greece crashes out of eurozone

Greece’s default was a non-event (almost) for investors. But markets won’t be as calm if the country crashes out of the euro, so central bankers are getting ready. The European Central Bank said Thursday it is now ready for the first time to buy the bonds of a number of companies in the eurozone, in […]

ECB: 25 banks fail stress test with $32 billion shortfall, but capital holes mostly plugged

(Reuters) – Roughly one in five of the euro zone’s top lenders failed landmark health checks at the end of last year but most have since repaired their finances, the European Central Bank said on Sunday. Painting a brighter picture than had been expected, the ECB found the biggest problems in Italy, Cyprus and Greece […]

Top 10 Weekly Forex Market Headlines – 08.08.2014

1. Portugal splits BES into ‘good’ and ‘bad’ banks in €4.9 billion rescue August 4, Portugal’s central bank has split the troubled Banco Espirito Santo into “good” and “bad” banks in a rescue that will cost billions but protect taxpayers and bank customers. Under the €4.9 billion ($6.6 billion) plan, most of the bank’s deposits, […]

Daily Forex Market Review 08/04/14 (+40 pips)

Today’s Trade Result: +40 pips July 2013: +160 pips June 2013: +336 pips May 2013: -50.5 pips April 2013: +851.5 pips March 2013: +327.5 pips February 2013: +127.5 pips January 2013: +1107.5 pips December 2012: +29 pips November 2012: +35.5 pips October 2012: +259.5 pips September 2012: +112.5 pips August 2012: +365.5 pips July 2012: […]

Portugal’s central bank calls urgent meeting to approve new BES management

LISBON—Banco Espírito Santo SA’s new chief executive officer is expected to take over as early as Monday, as Portuguese regulators seek to shoo away fears about the lender’s financial health amid troubles at its parent group…

Portuguese PM tries to ease fears; BES assures losses will not put bank at risk

(Reuters) – Portugal’s government and central bank assured investors on Friday that the southern European country’s financial system was sound, aiming to quell worry about the spillover effects of trouble at the Espirito Santo business empire…

Wall Street tumbles, joins global selloff over Portugal worries

Stocks fell sharply at the opening in New York on Thursday in a global selloff after soft data from Italy and as investors worried about one of Portugal’s top banks. The Dow Jones Industrial Average, which rose 78 points on Wednesday, was 173 points…

European central banks likely to follow ECB’s lead amid inflation lows

Other Central Banks Likely to Follow ECB’s Lead by Providing Fresh Stimulus. The annual rate of inflation in the 28-member European Union fell to levels seen in the wake of the 2009 global recession, raising expectations that other central banks in the bloc will follow the European Central Bank with…

Euro zone growth could surprise on upside if reforms sustained: ECB’s Praet

(Reuters) – The European Central Bank has played a key role in stabilizing the euro zone but governments must now keep up economic reforms to allow growth in the bloc to “surprise on the upside”, a top ECB policymaker said on Tuesday…

Do Greek workers put in more hours on the job than Germans?

FORTUNE — Take a wild guess: Which country’s workers put in more hours on the job, Germany or Greece? A Madrid think tank called the Institute of Economic Studies (IEE, in Spanish) recently released the kind of provocative study meant to incite debate. Based on…

Deflation, Euro’s rally raise pressure on ECB to cut rates again

LONDON (CNNMoney) Alarm bells are ringing again over the health of the European economy, after a surprising fall in inflation last month. With eurozone unemployment stuck at record levels above 12% and…

Euro zone posts trade surplus of 18.2 billion euros in July

(Reuters) – The euro zone’s trade surplus widened in July thanks to a revival in exports, another sign that sales to the rest of the world are proving to be central to the bloc’s recovery…

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