Europe’s financial crisis dominate G8 summit
CAMP DAVID, Maryland (Reuters) - World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil while revitalizing their economies, which are increasingly threatened by Europe's debt crisis. In a bold statement of support for Europe, the Group of Eight leaders of the world's major economies meeting at the wooded Camp David in the Cactoctin Mountains of Maryland said the global economic recovery shows promising signs but "significant headwinds persist. ...
Europe’s debt woes dominate G8 summit
CAMP DAVID, Maryland (Reuters) - World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil while revitalizing their economies, which are increasingly threatened by Europe's debt crisis. In a bold statement of support for Europe, the Group of Eight leaders of the world's major economies meeting at the wooded Camp David in the Cactoctin Mountains of Maryland said the global economic recovery shows promising signs but "significant headwinds persist. ...
Echoes of Eurozone crisis at NATO meeting
The NATO meeting in Chicago is a chance for alliance leaders to proclaim solidarity and promise success. But the two-day gathering that begins Sunday probably won't resolve the underlying anxiety about sharing the burdens of defense, a concern heightened by Europe's economic crisis and America's growing weariness at carrying the heaviest load.
Europe’s economic woes dominate G8 gathering
CAMP DAVID, Maryland (Reuters) - President Barack Obama will press European leaders to ease up on fiscal austerity and focus on economic growth at a summit on Saturday that will discuss ways to stem turmoil in the euro zone and head off the risk of global contagion. At the wooded Camp David retreat in Maryland's Catoctin Mountains, Obama and leaders from other large economic powers will try to forge a common approach to tackling a crisis that threatens the future of Europe's 17-nation single currency. ...
Obama presses ailing Europe to focus on growth
CAMP DAVID, Maryland (Reuters) - A growing chorus of world leaders on Friday pushed for a shift toward more pro-growth policies to help ease a European crisis that threatens to oust Greece from the euro zone and reverberate throughout the global economy. Setting the tone for a weekend G8 summit, President Barack Obama aligned himself with the new French president's drive for more economic stimulus in recession-plagued Europe, in a swipe at the tough austerity programs that have been spearheaded by German Chancellor Angela Merkel. ...
Wall St Week Ahead: The market is oversold, but major signs say "sell"
NEW YORK (Reuters) - Normally a big decline would set up Wall Street for a technical rebound. But that may not be the case next week, even after the market posted its worst weekly loss for the year and the S&P fell for six straight sessions. With the corporate earnings season drawing to an end and recent U.S. economic data raising doubts about the pace of growth, the S&P 500, which is down 7.3 percent so far in May, could decline further next week as concerns about the financial health of Europe persist. ...
Obama presses Europe for shift to growth focus
WASHINGTON (Reuters) - U.S. President Barack Obama pressed Europe on Friday to shift toward a more pro-growth policy and away from austerity to tackle a crisis that threatens to push Greece out of the euro zone and send economic shockwaves worldwide. Setting the tone for a weekend G8 summit, Obama made clear he was aligning himself with the new French president's drive for more economic stimulus in the recession-plagued euro zone instead of emphasizing belt-tightening programs spearheaded by Germany. ...
Europe thinks the unthinkable on Greece
BRUSSELS/LONDON (Reuters) - European officials are working on contingency plans in case Greece bombs out of the euro zone, the EU's trade commissioner said on Friday, while Berlin said it was prepared for all eventualities. German Finance Minister Wolfgang Schaeuble, one of Greece's harsher critics, said market turmoil fuelled by the euro zone debt crisis could last another year or two. "Regarding the crisis of confidence in the euro ... in 12 to 24 months we will see a calming of the financial markets," he said. ...
Oil prices lower ahead of G8 summit
Oil prices are lower ahead of a weekend meeting where leaders of the world's biggest economies will look for ways to help Europe resolve its debt crisis.
US stocks edge lower on Europe worries
It looks like it will take more than Facebook's initial public offering to push stocks into positive territory.
WP Cumulus Flash tag cloud by Roy Tanck and Luke Morton requires Flash Player 9 or better.