Debt Crisis

10:54am

Mon January 30, 2012
The Two-Way

At E.U. Meeting, Countries Expected To Agree That Austerity Is Not Enough

In this photo provided by the German Government Press Office, Italy's Prime Minister Mario Monti, France's President Nicolas Sarkozy and Germany's Chancellor Angela Merkel speak at a meeting at the European Council in Brussels ahead of the European Union leaders summit on Monday.
Getty Images

European Union leaders are meeting in Brussels today to discuss the monetary union's ongoing economic crisis. According to The New York Times, the countries will decide that austerity is not enough to curb the sovereign debt crisis.

The Times reports:

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11:53am

Fri January 27, 2012
The Two-Way

Fitch Downgrades Credit Of 6 E.U. Countries, Including Spain, Italy

Fitch Ratings announced it was cutting the ratings of Italy, Spain, Belgium, Slovenia, and Cyprus.

Italy and Spain, two of the biggest eurozone economies, suffered a two-notch drop. Italy went from A+ to A- and Spain went from A to AA-.

Bloomberg reports:

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10:01pm

Wed January 25, 2012
Planet Money

No, Hedge Funds Can't Foreclose On The Acropolis

Originally published on Mon May 7, 2012 10:12 am

DIMITAR DILKOFF AFP/Getty Images

Greece is broke. But there's no blueprint for a country to declare bankruptcy, so Greece's creditors are sort of making things up as they go along.

"You're taking some sort of loss," Hans Humes of Greylock Capital Management told me. "But it's like, how much of a loss do you take? There's this thing called sovereign immunity. You can't go in and take the Acropolis."

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2:04pm

Wed December 21, 2011
Latin America

What Greece Can Learn From South America

Originally published on Wed December 21, 2011 3:08 pm

Greek demonstrators protest in Athens on Nov. 8. Similar economic crises in Argentina and Uruguay a decade ago may be instructive for Greece today.
Orestis Panagiotou EPA /Landov

As Greece struggles with a financial crisis, there have been violent protests, creditors demanding their money, people losing their jobs and officials hunkering down.

A decade ago, that was the scene in South America when Argentina and Uruguay defaulted. The two handled the economic calamity in very different ways. Economists say their approaches — and what's happened in each country since — are instructive for European leaders as they try lifting Greece from its turmoil.

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7:04am

Mon December 5, 2011
Whiteboard Video

Why does the EU want U.S. dollars?

Marketplace Money Senior Producer Paddy Hirsch explains why Europe needs dollars instead of Euros as the EU tries to sort out its financial problems.

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