The once taboo subject of a Greek departure from the eurozone cracked in the past couple of weeks, primarily with threats to Greece.
Today the exit discussion dam broke wide open as Eurozone tells members to make contingencies for "Grexit"
Euro zone officials have told members of the currency area to prepare contingency plans in case Greece decides to quit the bloc, an eventuality which Germany's central bank said would be "manageable".
MILAN — Financial investors would prefer Italy avoided new elections, concerned they would just postpone economic reform and bring little hope of resolving a parliamentary deadlock, a survey by U.S. bank Morgan Stanley showed on Friday.
Only significant funding problems and a much deeper recession would reignite the sort of fear that pushed Italy’s 10-year bond yields above 6.5% in July, according to the survey of 317 market participants carried out this week.
I was debating on what to write about tonight–either the update on Nobel Prize winner Peter Diamond’s failed nomination to the Federal Reserve Board (with his very public withdrawal as shared via the New York Times), or Minnesota governor (and Republican presidential candidate) Tim Pawlenty’s speech on his “economic plan” (text of speech
Nobel economics laureate Maurice Allais, the only Frenchman to ever win the distinction, died on Saturday at the age of 99, France's higher education ministry said Sunday.Allais was awarded the Nobel in 1988 for his "pioneering contributions to the theory of markets and efficient utilisation of resources", according the official Nobel Prize website.Born in Paris on May 11, 1911, Allais the author of more than 100 books, and much of his work focused on the development of mathematical economics.
China faced fresh criticism Thursday over its angry reaction to dissident Liu Xiaobo's Nobel Prize, with Norway calling it "inappropriate" and Japan urging Beijing to free the jailed peace laureate.The comments came after the peace laureate's wife Liu Xia complained bitterly on Wednesday over her "illegal house arrest", which had already drawn a rebuke from Washington and Brussels.
Nobel peace laureate Muhammad Yunus brought ideas for creating micro "social businesses" from Bangladesh to Europe Saturday with support from several of the world's leading corporations.Yunus, who won the 2006 Nobel Peace Prize for developing micro-credits that allow poor people to start companies, said the global economic crisis had given the world "an opportunity to reflect and redesign" business models.