Europe is facing a make-or-break month. Its economy is sinking and the debt crisis that has hit some of its members threatens global economic disaster. Now its central bank is poised to hold off from helping — in the hope that Europe's divided leaders will be pushed into action.
In a way, Europe should be thrilled that financial markets barely batted an eye at the crisis in Cyprus, which reached a bailout deal with the eurozone Sunday.
But Europe has a problem on its hands that’s bigger than Cyprus: The economy stinks.
In a way, Europe should be thrilled by the week that was because financial markets barely batted an eye at the crisis in Cyprus. But Europe has a problem on its hands that's bigger than Cyprus: the economy stinks.
Proposals to use geoengineering to fight global warming are in the news. Indeed, humans have been intentionally modifying weather for climate control for decades. But geoengineering has not always been thought of as a way to fight global
BEIJING (AP) — One wore a cowboy hat. Another sang some opera and played guitar. Chinese leaders have set a colorful path for President Xi Jinping to follow on his trip to the U.S. this week, the latest in a string of visits since formal diplomatic relations were established between Washington and Beijing in 1979. Much attention was focused on the first visit by Deng Xiaoping in 1979 and again on Jiang Zemin's nearly two decades later in 1997 — the first in a dozen years and the first since the Tiananmen crackdown.
ATHENS: Greeks overwhelmingly rejected conditions of a rescue package from creditors on Sunday, throwing the future of the country's euro zone membership into further doubt and deepening a standoff with lenders. As the euro slid more than 1 percent against the dollar and European stock and bond markets were poised to take a sharp hit with the resumption of trade on Monday, stunned European leaders called a summit for Tuesday to discuss their next move.
When Goldman says sell, everyone knows they really mean buy. However, when less specialized banks in the art of Kermit rapage, such as Bank of America, come out with a report saying that now is a good time to hunker down, they may just actually mean that. From BofA's Ethan Harris: