Jul 11, 2012 In Spain today, the government announced new austerity measures to meet the terms of the bank bailout early this month: $80 billion worth of tax increases and pay and benefit cuts.
Jun 6, 2012 There was no cut in interest rates from the European Central Bank today, but some would like the ECB to take action soon.
May 31, 2012 Spain's Deputy Prime Minister, Soraya Saenz, will head to Washington to discuss ways to resolve the Spanish banking crisis with Treasury Secretary Tim Geithner.
May 22, 2012 The Organization for Economic Cooperation and Development warns the eurozone nations of severe recession risk, and calls on the European Central Bank to step in to stem the crisis.
Stacey Vanek Smith
Nov 16, 2011 The U.S. central bank, known as the Federal Reserve, is the lender of last resort. Its bond-buying orgy bailed out banks during the financial crisis and rescued the economy. But its European equivalent has neither the ability not the will to do the same for the eurozone.