Euro Crisis News Page 12.html

The pound ascended to a 10-week high compared to the dollar on Tuesday, but more gains are limited due to concerns over Portugal’s debt woes. The pound hit 1.5797 against the dollar in the morning, the highest since November 21; but consolidated at 1.5776, reports the website Forex Rate It. Early gains were also made by the pound...

The euro has dropped against the dollar as attention continues to focus on a proposed deal between Greece and its creditors. The country’s finance minister, Evangelos Venizelos, has reacted angrily to a suggestion that Greece should let European institutions take control of budget policy. The euro has fallen 0.3 per cent to $1.3178. The...

The world's economy lies deep in the danger zone due to risks from the eurozone, according to the International Monetary Fund. As reported by BBC News, the IMF predicts that the global economy can grow by 3.25 per cent in 2012, which is down from the earlier forecast of four per cent. The UK economy's growth forecast has also been slashed...

Finance ministers from across the eurozone who have been meeting for talks in Brussels have called for Greece and its private sector debtors to reach an agreement in the coming few days. Although ministers have said that 130 billion euros have been made available to the country, they added that the funds would not be handed over until...

The UK's Europe minister David Lidington has claimed that the choice to reject the EU’s fiscal co-operation pact rather than taking part in negotiations was ‘cleaner’ for the government. Speaking to a Lords committee, he said “bad-tempered wrangling” would have been the only result of saying yes to the talks and then no to a treaty...

The French government is defending its economic policies of debt reduction and reform after the country lost its top credit rating on Friday with Standard and Poor’s. The agency downgraded France from AAA to AA+. French Prime Minister Francis Fillon said that the country had come into the firing line because of its exposure to the...

The euro sank to its lowest rate against the US dollar since September 2010 today. The euro bottomed at 1.2763 to the dollar on electronic trading platform EBS, with the decline expected to continue due to exacerbating euro zone debt problems. The euro’s health is likely to hinge on next week's bond sales by the governments of Spain and...