EU

It looks as though Greece will avoid plunging the international financial system into turmoil, as the Greek Parliament is preparing for a second vote on austerity measures that the European Union (EU) demanded in order for Greece to receive the next installment of the 110 billion euro bailout that...

Banking stocks are climbing higher early during the Wednesday trading session, after Bank of America Corporation (NYSE: BAC) announced an $8.5 billion settlement with investors who had purchased mortgage backed securities originated by Bank of America Corporation's Countrywide Financial business...

Most Asian stock markets ended Wednesday trading in positive territory, mainly on the belief that the Greek Parliament would pass a set of austerity measures aimed at getting the country's finances in order and ending the near-term possibility of a default by Greece on its debts. Earlier in the...

The European Union said that the Greek Parliament must pass the latest round of austerity measures in order to receive the next installment of the 110 billion euro loan from the European Union and the International Monetary Fund. Without the next loan installment, the Greek government could run...

Greece is insolvent. No amount of new loans from rich EU governments and the IMF can save Athens from default on sovereign debt, and that poses a clear threat to the global financial stability. Moreover, the solutions being imposed will reduce Greeks into poverty to sustain German prosperity....

It became necessary to destroy the periphery in order to save the core's banks William K. Black Gary O'Callaghan, a former IMF economist has written about his distress over what he views as the European Central Bank's (ECB's) destructive policies toward the periphery. http://www.independent.ie...

A Congressional hearing on the mutual fund industry this week will likely put money market funds under scrutiny for any holdings of Greek debt and other euro zone investments. The House Financial Services Committee announced June 3 that its capital markets subcommittee would conduct a standard...

In what is becoming an all too familiar occurrence, on Wednesday millions of Greeks took part in nationwide strikes, with thousands taking to the streets in protest against further austerity measures. The Greek government says that the new round of austerity measures is needed in order to receive...

French President Nicolas Sarkozy spoke on Tuesday at the European Union's headquarters in Brussels. In his speech, he called for tighter controls on derivatives trading in commodity markets. Sarkozy remarked that the world had worked hard to restore economic growth after the global financial...

The likelihood that Greece will default on its debts increased yesterday after the Standard & Poor's rating agency gave Greece the lowest credit rating of any country that it covers in the world. This immediately sent Greece's borrowing costs higher as 10-year Greek bonds with yields above 17...

This is your morning news summary and trader's outlook from Benzinga for Tuesday, May 31, 2011, covering the Memorial Day weekend and Tuesday's pre-market session. Stock index futures are trading slightly higher this morning as traders await home prices data and consumer confidence reports. Higher...

European and Asian equities rallied on Tuesday, as renewed optimism for a second Greek bailout package lifted global stock markets. Germany could soon drop its negotiation terms over the rescheduling of Greek bonds, the Wall Street Journal is reporting this morning. That would potentially allow...

For a few years now, Greece has been steadily digging deeper and deeper into debt. Now, unsurprisingy, the European Union is concerned about how much "air" will this crisis will squeeze out of the 17-member union. In Greece, pensions are being reassessed and tax hikes are on the table, due to the...

This is your morning news summary from Benzinga for Friday, May 27, 2011, covering overnight and pre-market news affecting today's trending session. Stock index futures are trading relatively flat this morning versus yesterday's price levels. Despite somewhat disappointing economic news, Wall...

U.S. stock futures are lower this morning after a decline in most of the global markets. Investors are watching manufacturing and housing data today as U.S. economic indicators. The Empire Manufacturing survey was released before the bell today, and the National Association of Homebuilders will...