http://www.mail.com/int/subjects/1380-financial-crisis.html Mail.com - the best personalized free web-based Email en en http://sec-s.uicdn.com/mail.com/2.28/img/mailcom_logo_rss.png http://www.mail.com/int/subjects/1380-financial-crisis.html http://www.mail.com/int/business/markets/2102400-eu-steps-up-fight-tax-evasion-2013.html BRUSSELS (AP) — The European Union's leaders took a major step in tackling tax-dodgers Wednesday by pushing to end bank secrecy across the bloc's 27 members by the end of the year. German Chancellor Angela Merkel hailed the agreement to set up an automatic exchange of bank information among the EU's tax authorities — which has been long resisted by Austri... Wed, 22 May 2013 18:48:33 GMT http://www.mail.com/int/business/markets/2102400-eu-steps-up-fight-tax-evasion-2013.html 2013-05-22T18:48:33Z http://www.mail.com/int/news/world/2102680-richard-carrion-declares-ioc-presidential-bid.html LONDON (AP) — Richard Carrion of Puerto Rico entered the IOC presidential race Wednesday, promising to use his business experience to guide the Olympics through the world's troubled financial times and proposing to deploy IOC staff permanently in host cities to help organize the games. The 60-year-old Carrion, a banking executive who chairs the IOC financ... Wed, 22 May 2013 13:36:45 GMT http://www.mail.com/int/news/world/2102680-richard-carrion-declares-ioc-presidential-bid.html 2013-05-22T13:36:45Z http://www.mail.com/int/business/economy/2048448-correction-cyprus-breaking-barriers-story.html NICOSIA, Cyprus (AP) — In a story April 27 marking the 10th anniversary of the breaching of the barriers carving up Cyprus, The Associated Press erroneously reported that Yiannis Maratheftis had written a book detailing his experiences. The book was about Maratheftis' experiences, but not written by him. It was written by Panikos Neocleous. A corrected ve... Tue, 21 May 2013 09:25:05 GMT http://www.mail.com/int/business/economy/2048448-correction-cyprus-breaking-barriers-story.html 2013-05-21T09:25:05Z http://www.mail.com/int/news/world/2094904-pope-leads-pep-rally-vatican-meets-with-merkel.html VATICAN CITY (AP) — Pope Francis lamented that investment losses by banks trigger more alarm in the economic crisis than the struggle of people to feed their families, as he led a huge rally Saturday to invigorate the church's moral conscience, hours after he held talks at the Vatican about the economic crisis with Germany's leader. Some 200,000 people, f... Sat, 18 May 2013 23:26:21 GMT http://www.mail.com/int/news/world/2094904-pope-leads-pep-rally-vatican-meets-with-merkel.html 2013-05-18T23:26:21Z http://www.mail.com/int/business/economy/2095142-union-leads-march-rome-calling-job-creation.html ROME (AP) — A union of Italian metal workers has led thousands of people in a march through the heart of Rome to press the new government for measures to spur job creation. FIOM union leader Maurizio Landini said Saturday's protest was held because Italy is "going nowhere" in terms of signs of economic growth amid a stubborn recession. The union is aligne... Sat, 18 May 2013 16:47:55 GMT http://www.mail.com/int/business/economy/2095142-union-leads-march-rome-calling-job-creation.html 2013-05-18T16:47:55Z http://www.mail.com/int/business/economy/2093730-cyprus-drops-limits-8-foreign-banks.html NICOSIA, Cyprus (AP) — Cyprus on Friday got rid of limits on money transfers and withdrawals for international clients of another eight foreign banks doing business in the debt-laden country. The Finance Ministry said in a new decree the capital control exemptions now apply to Lebanon's Banque Bemo, BBAC, Credit Libanais and Bank of Beirut, France-based B... Fri, 17 May 2013 20:03:18 GMT http://www.mail.com/int/business/economy/2093730-cyprus-drops-limits-8-foreign-banks.html 2013-05-17T20:03:18Z http://www.mail.com/int/business/markets/2093268-glance-europes-key-institutions.html Following the chaotic bailout of Cyprus, top European Union officials are saying it's time to rethink how the region manages its crisis — and who should be involved. Here is a look at the key institutions involved in Europe's economic policymaking: —EUROPEAN UNION An economic and political partnership among 27 European countries. It has a combined populat... Fri, 17 May 2013 18:20:26 GMT http://www.mail.com/int/business/markets/2093268-glance-europes-key-institutions.html 2013-05-17T18:20:26Z http://www.mail.com/int/business/economy/2092882-greece-faces-slow-jobless-recovery-year.html ATHENS, Greece (AP) — Greece's deep, six-year recession is likely to end in 2014, but growth will be weak and unemployment will remain above 20 percent for another three years, the country's international debt inspectors said. The European Commission issued the gloomy predictions Friday in a 237-page assessment of Greece's bailout agreement, as the countr... Fri, 17 May 2013 17:33:48 GMT http://www.mail.com/int/business/economy/2092882-greece-faces-slow-jobless-recovery-year.html 2013-05-17T17:33:48Z http://www.mail.com/int/business/economy/2093436-fitch-downgrades-slovenia-amid-banking-concerns.html LONDON (AP) — Fitch Ratings agency has downgraded Slovenia's credit grade by one notch, citing a weak economic outlook and a frail banking system. It cut the government bond rating to BBB+ from A-, which is still investment grade. It left a negative outlook, suggesting there's a risk of another downgrade. Fitch said the prospects for Slovenia's economy an... Fri, 17 May 2013 17:02:52 GMT http://www.mail.com/int/business/economy/2093436-fitch-downgrades-slovenia-amid-banking-concerns.html 2013-05-17T17:02:52Z http://www.mail.com/int/business/economy/2093046-imf-cyprus-risk-deeper-recession.html WASHINGTON (AP) — The IMF said Friday that substantial risks still loom for the Cypriot economy even after a multi-billion dollar international bailout aimed at averting a debt default. A new IMF report predicted a deep recession in Cyprus this year and next and said there is a danger that the downturn could be even more severe if authorities do not adher... Fri, 17 May 2013 15:37:31 GMT http://www.mail.com/int/business/economy/2093046-imf-cyprus-risk-deeper-recession.html 2013-05-17T15:37:31Z http://www.mail.com/int/news/world/2093224-top-officials-call-to-overhaul-euro-institutions.html BERLIN (AP) — Engineering a financial bailout for Cyprus in March was such a chaotic process that top European officials say it is time to rethink how the region manages its crisis — and who should be involved. Officials say the International Monetary Fund, which has contributed financial expertise and billions in emergency loans, may no longer be needed ... Fri, 17 May 2013 15:32:04 GMT http://www.mail.com/int/news/world/2093224-top-officials-call-to-overhaul-euro-institutions.html 2013-05-17T15:32:04Z http://www.mail.com/int/business/economy/2090920-cyprus-presell-gas-reserves-to-ease-crisis.html NICOSIA, Cyprus (AP) — Cyprus may presell the country's offshore natural gas reserves to raise cash quickly and pull it out of its deep financial crisis, the country's finance minister said Thursday. Harris Georgiades said the country's nascent gas sector still has some way to go before such weighty decisions are taken. But all options that will help the ... Thu, 16 May 2013 19:24:16 GMT http://www.mail.com/int/business/economy/2090920-cyprus-presell-gas-reserves-to-ease-crisis.html 2013-05-16T19:24:16Z http://www.mail.com/int/business/economy/2089898-merkel-hollande-odds-europes-way-forward.html BERLIN (AP) — Germany and France recognize that their cooperation is key to overcoming Europe's persistent economic crisis, but comments Thursday by the leaders of the continent's No. 1 and 2 economies suggested they still have diverging priorities. French President Francois Hollande argued that the 17-nation eurozone should integrate more, calling for gr... Thu, 16 May 2013 17:55:32 GMT http://www.mail.com/int/business/economy/2089898-merkel-hollande-odds-europes-way-forward.html 2013-05-16T17:55:32Z http://www.mail.com/int/entertainment/lifestyle/2089870-greek-strikes-halt-air-travel.html ATHENS, Greece (AP) — Flights in Greece were halted for four hours Thursday as the country's two largest labor unions staged work stoppages to protest austerity measures and a government decision to cancel a teachers' strike. Flights resumed after being grounded between 12:00 and 4:00 p.m. (0900-1300 GMT), when air traffic controllers joined the protest c... Thu, 16 May 2013 17:11:00 GMT http://www.mail.com/int/entertainment/lifestyle/2089870-greek-strikes-halt-air-travel.html 2013-05-16T17:11:00Z http://www.mail.com/int/business/economy/2090040-ratings-firm-warns-economic-slowdown-russia.html MOSCOW (AP) — Russia faces harsh times ahead for its economy unless the government improves the country's poor investment climate and implements long-delayed privatizations and reforms, U.S ratings agency Standard & Poor's has warned. Russia has seen more than a decade of largely uninterrupted economic growth, thanks to its lucrative oil and gas industrie... Thu, 16 May 2013 15:16:03 GMT http://www.mail.com/int/business/economy/2090040-ratings-firm-warns-economic-slowdown-russia.html 2013-05-16T15:16:03Z http://www.mail.com/int/news/world/2090120-slovenia-govt-confirms-union-agreed-wage-cuts.html LJUBLJANA, Slovenia (AP) — Slovenia's government has formally approved an agreement it reached with trade unions to cut public sector wages by up to 4.8 percent as part of budget austerity measures the country needs to avoid an international bailout. The agreement, which was confirmed Thursday, is expected to save 108.6 million euros ($141 million) this y... Thu, 16 May 2013 12:58:01 GMT http://www.mail.com/int/news/world/2090120-slovenia-govt-confirms-union-agreed-wage-cuts.html 2013-05-16T12:58:01Z http://www.mail.com/int/business/economy/2086772-eurozone-recession-longest-currency-bloc.html PARIS (AP) — The eurozone is now in its longest ever recession — a stubborn slump that has surpassed even the calamity that hit the region in the financial crisis of 2008-2009. The European Union statistics office said Wednesday that nine of the 17 EU countries that use the euro are in recession, with France a notable addition to the list. Overall, the eu... Wed, 15 May 2013 19:21:06 GMT http://www.mail.com/int/business/economy/2086772-eurozone-recession-longest-currency-bloc.html 2013-05-15T19:21:06Z http://www.mail.com/int/business/economy/2086834-bank-england-sees-modest-sustained-recovery.html LONDON (AP) — The Bank of England predicted a modest and sustained economic recovery for Britain on Wednesday, but tempered hope that the worst might be over with predictions that inflation will remain above its targets for the next two years. In presenting the central bank's quarterly inflation report, Governor Mervyn King offered a twinkling of optimism... Wed, 15 May 2013 17:05:38 GMT http://www.mail.com/int/business/economy/2086834-bank-england-sees-modest-sustained-recovery.html 2013-05-15T17:05:38Z http://www.mail.com/int/business/economy/2086838-greece-to-break-up-power-company-money.html ATHENS, Greece (AP) — Greece's conservative-led government on Wednesday announced plans to break up the state-run Public Power Corporation by 2016, as part of a privatization program demanded by the crisis-hit country's creditors. Government spokesman Simos Kedikoglou said that about 30 percent of PPC's resources would be spun off to create a rival compan... Wed, 15 May 2013 16:23:32 GMT http://www.mail.com/int/business/economy/2086838-greece-to-break-up-power-company-money.html 2013-05-15T16:23:32Z http://www.mail.com/int/business/economy/2086896-portugal-pays-lower-interest-rates-debt-auction.html LISBON, Portugal (AP) — Portugal has collected 1.75 billion euros ($2.3 billion) in a debt auction, with a sharp drop in interest rates providing further evidence that market confidence in the bailed-out country is returning. Investors stopped buying Portugal's debt in 2011 amid a broader crisis in the 17-nation eurozone. That forced the country to seek a... Wed, 15 May 2013 12:17:40 GMT http://www.mail.com/int/business/economy/2086896-portugal-pays-lower-interest-rates-debt-auction.html 2013-05-15T12:17:40Z http://www.mail.com/int/business/economy/2083988-fitch-upgrades-greeces-credit-rating.html ATHENS, Greece (AP) — Debt-hobbled Greece got a new morale boost Tuesday, with Fitch ratings agency upgrading its sovereign credit grade, a day after the country's European creditors backed the release of a new rescue loan payment. However, the one-notch upgrade from CCC to B- still leaves Greece's government debt six levels deep in junk status — that is,... Tue, 14 May 2013 18:14:17 GMT http://www.mail.com/int/business/economy/2083988-fitch-upgrades-greeces-credit-rating.html 2013-05-14T18:14:17Z http://www.mail.com/int/news/us/2084828-turkish-cypriot-leader-seeking-us-help-talks.html WASHINGTON (AP) — The prime minister of the breakaway Turkish north of ethnically divided Cyprus was in Washington on Thursday looking for ways to revive stalled reunification talks with the Greek south. Irsen Kucuk said he sees opportunities to move toward a settlement this year and wants help from the U.S. "We believe that 2013 could be a very conducive... Tue, 14 May 2013 17:30:26 GMT http://www.mail.com/int/news/us/2084828-turkish-cypriot-leader-seeking-us-help-talks.html 2013-05-14T17:30:26Z http://www.mail.com/int/business/markets/2083696-eu-to-shift-bill-bank-failures-to-creditors.html BRUSSELS (AP) — European Union governments want to shift the cost of rescuing troubled banks from taxpayers to the banks' creditors — including the holders of large deposits— as part the region's plan to shore up its shaky financial system. Finance ministers from the 27-country bloc meeting in Brussels on Tuesday sought to hammer out the new rules on how ... Tue, 14 May 2013 17:15:02 GMT http://www.mail.com/int/business/markets/2083696-eu-to-shift-bill-bank-failures-to-creditors.html 2013-05-14T17:15:02Z http://www.mail.com/int/news/world/2084340-slovenia-government-unions-agree-wage-cuts.html LJUBLJANA, Slovenia (AP) — Slovenia's government and trade unions on Tuesday reached a tentative agreement to cut public sector wages by up to 4.8 percent as part of budget austerity measures the country needs to avoid an international bailout. The deal is expected to save 108.6 million euros ($141 million) this year and 182.6 million euros in 2014 for de... Tue, 14 May 2013 14:55:07 GMT http://www.mail.com/int/news/world/2084340-slovenia-government-unions-agree-wage-cuts.html 2013-05-14T14:55:07Z http://www.mail.com/int/sports/soccer/2084300-greek-club-aek-athens-to-declare-bankruptcy.html ATHENS, Greece (AP) — Troubled Greek football club AEK Athens is planning to declare bankruptcy and seek voluntary relegation to the country's third division. The club, hit by debts and Greece's financial crisis, held an emergency shareholders meeting Tuesday and announced plans to formally launch liquidation procedures after its new board meets on June 7... Tue, 14 May 2013 13:57:36 GMT http://www.mail.com/int/sports/soccer/2084300-greek-club-aek-athens-to-declare-bankruptcy.html 2013-05-14T13:57:36Z http://www.mail.com/int/business/markets/2084034-pension-reform-crucial-ailing-portugal.html LISBON, Portugal (AP) — A leading international economic body says Portugal must push ahead with changes to pension entitlements, even though the planned reforms are threatening to tear apart the coalition government and will likely trigger a spate of legal challenges. The Organization for Economic Cooperation and Development said in a report Tuesday that... Tue, 14 May 2013 11:38:57 GMT http://www.mail.com/int/business/markets/2084034-pension-reform-crucial-ailing-portugal.html 2013-05-14T11:38:57Z http://www.mail.com/int/business/markets/2082928-poll-favorable-views-eu-sharp-decline.html BRUSSELS (AP) — Positive views of the European Union by its citizens are near all-time lows. And no EU country is plunging faster into the abyss of gloom than France. Germans are broadly perceived as being the most trustworthy Europeans — but also the least compassionate. Britons, often seen as deeply skeptical of the benefits of EU membership, are in fact split right down t... Mon, 13 May 2013 22:05:18 GMT http://www.mail.com/int/business/markets/2082928-poll-favorable-views-eu-sharp-decline.html 2013-05-13T22:05:18Z http://www.mail.com/int/business/economy/2081572-euro-ministers-urge-troubled-slovenia-to.html BRUSSELS (AP) — European finance ministers on Monday urged Slovenia to move swiftly in addressing the problems in its banking sector and get its public finances under control in a bid to avoid the nation from becoming the bloc's sixth member to require a bailout. "The Slovenian government has to take swift and decisive action," said Jeroem Dijsselbloem, w... Mon, 13 May 2013 20:11:58 GMT http://www.mail.com/int/business/economy/2081572-euro-ministers-urge-troubled-slovenia-to.html 2013-05-13T20:11:58Z http://www.mail.com/int/news/world/2081232-europe-odds-steps-to-banking-union.html BERLIN (AP) — European leaders are increasingly at odds over how to create a full-fledged banking union, the bloc's key project to stabilize its financial system and turn the tide in its stubborn debt crisis. A majority of the 17 countries in the European Union's common euro currency union want to swiftly create a central banking regulator as well as an a... Mon, 13 May 2013 19:41:31 GMT http://www.mail.com/int/news/world/2081232-europe-odds-steps-to-banking-union.html 2013-05-13T19:41:31Z http://www.mail.com/int/business/economy/2081336-greece-uses-emergency-power-striking-teachers.html ATHENS, Greece (AP) — The Greek government said Monday it will use emergency powers to prevent protesting teachers from disrupting university entrance exams this month. Civil servants' unions retaliated by calling a 24-hour strike for Tuesday. It is the third time this year that the conservative-led coalition government has used the emergency civil mobili... Mon, 13 May 2013 17:31:18 GMT http://www.mail.com/int/business/economy/2081336-greece-uses-emergency-power-striking-teachers.html 2013-05-13T17:31:18Z