Jean-Claude Trichet News
Race is on for succession to Europe's top economic posts
Europe is getting a new economic team in a complex and politically fraught game of musical chairs that will help determine the balance between austerity and spending, tight money and more central bank stimulus.
Excerpt: 'Stress Test' by Timothy Geithner
Reprinted from STRESS TEST by Timothy F. Geithner. Copyright © 2014. Published in the United States by Crown, a division of Random House LLC. By the summer of 2007, the subprime market was imploding. Borrowers with “no-doc loans” (without proof of income) and “liar loans”...
Turmoil in Europe spills into U.S. markets
Once again, turmoil in Europe spilled into U.S. markets Thursday. Fears that the debt crisis that started last year in Greece is spreading to much larger economies such as Spain and Italy roiled markets around the world, sending investors scurrying out of everything from gold to oil to stocks.
Many possible candidates to head IMF
Experts who observe the International Monetary Fund say several candidates may be considered to replace Dominique Strauss-Kahn as its managing director: Christine Lagarde, of France: Lagarde, 55, is France's finance minister. She is a noted antitrust lawyer who was the first woman to chair the
Federal Reserve Chairman Ben Bernanke Holds First Fed Press Conference in History
Westminster Abbey and the Royal Wedding are so overhyped; the historic story of the week will take place on C Street in Washington, D.C. today. At 2:15 p.m. ET, Ben Bernanke , chairman of the Federal Reserve, will make waves in the world of economists and Wall Streeters. For the first time in the
Greek Tragedy: Will the Contagion Spread?
After weeks of hesitation over the German response to the Greek crisis , Chancellor Angela Merkel is suddenly calling for swift action. "It is clear that the negotiations must now be accelerated," she said Wednesday at an appearance together with Dominique Strauss-Kahn, the head of the
Euro area economy contracted only 0.1% in Q2
The recession in the 16 countries that use the euro eased substantially between April and June after unexpected growth in Germany and France, the currency bloc's two largest economies, official figures showed Thursday. Euro zone gross domestic product fell by only 0.1% in the second quarter from
European Central Bank cuts rates, will pump up euros
The European Central Bank cut its main interest rates and took other major steps Thursday designed to ease the availability of credit and boost the 16-nation euro zone economy. ECB said it has decided to buy covered bonds issued by companies in the euro zone, and lend banks unlimited funds for up
European bank cuts key rate to record 1.25%, could go lower
The European Central Bank could further reduce its record-low interest rates, President Jean-Claude Trichet told reporters Thursday, after the bank cut its benchmark figure a quarter of a percentage point to 1.25%. Trichet said that the decision by the governing council to reduce the rate was made
G-20 finance ministers face off: stimulus vs. regulation
World Bank President Robert Zoellick warned on Friday that 2009 could be a "very dangerous year" and urged quick action to fix troubled economies ahead of a meeting of international finance officials expected to wrestle over whether to spend or regulate the way out of the global downturn. "The