The head of Austria’s central bank, Ewald Nowotny, and German finance minister Wolfgang Schaeuble have both made statements over this weekend that affect bailout options for Spain.
In particular, Nowotny says Spain must seek help before ECB buys bonds.
Spain would have to apply for a rescue package before qualifying for inclusion in the European Central Bank’s plan to buy debt of struggling euro zone members, ECB policymaker Ewald Nowotny said.
Nowotny told Austria’s [...]
At this weekend’s G20 meeting, European countries are likely to press for an increase in the International Monetary Fund’s resources as a means to bolster the firewalls against the eurozone debt crisis. The other G20 members must resist such pressure until Europe starts showing more signs that its getting its act together.
The balance sheet of the IMF is already heavily exposed to the eurozone crisis. Greece, Ireland and Portugal [...]
(Reuters) – Four people were shot dead and dozens wounded in protests in Afghanistan which flared for a second day on Wednesday in several cities over the burning of copies of the Koran, Islam’s holy book, at NATO’s main base in the country, officials said.
The American Embassy said its staff were in “lockdown” and travel had been suspended as thousands of people expressed fury over the burning, a public relations disaster for [...]
by Peter Wallsten and Karen Tumulty
A near-panic has taken hold among some core conservative activists, who are now scrambling to devise a strategy to deny Mitt Romney the Republican presidential nomination.
Many of these activists see South Carolina’s primary on Jan. 21 as their last best hope of stopping Romney by consolidating in a united front against him. But many acknowledge that they have yet to figure out which of the remaining conservative rivals to [...]
By Annika Breidthardt and Daniel Flynn
BRUSSELS (Reuters) – Private holders of Greek debt may need to accept losses of up to 60 percent on their investments if Greece’s debt mountain is to be made more sustainable in the long-term, a downbeat analysis by the EU and IMF showed on Friday.
Euro zone finance ministers threw Greece a lifeline on Friday by agreeing to approve an 8 billion euro loan tranche that [...]
By Leila Fadel and Ernesto Londono, Updated: Wednesday, August 3, 4:05 PM
CAIRO — Disgraced Egyptian leader Hosni Mubarak said Wednesday that he did not order the killing of protesters during the recent uprising that ousted him, speaking at the start of an epic trial that could further rock Egypt’s turbulent transition to democracy.
Mubarak’s attorney suggested that the leader of Egypt’s ruling military council, Mohammed Hussein Tantawi, [...]
UK government announces its just raised terrorist threat level from moderate to substantial:
As Ireland and Northern Ireland sink into economic depression, with rising unemployment and youth with hopes for a better future dashed, and the haves with money seen to be doing alright, partying like Wall Street banksters and the have-nots, Main street living hand to mouth, losing jobs, getting wage cuts losing their homes theyâ€™ve worked hard for, marriage [...]