European Commission calls for direct aid for indebted banks

Source: Bloomberg
On Wednesday European Commission supported Spain in offering than prospective permanent bailout fund inject money into banks rather than channel cash through countries' governments. Proposals for direct aid meet resistance from main creditor nations Finland, Germany and the Netherlands. Common currency plunged versus US Dollar to almost two-year record low at USD 1.2386. 
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Thu, 31 May 2012 07:30:07 GMT

Euro drops to two-year record low versus US Dollar

The 17-nation currency plunged to almost two-year record low on Wednesday boosted by growing concerns over rising tensions across Europe. Italy auctioned less than planned amount of debt at surging yields. Spain kept struggling with its indebted banks and loss in investor confidence. European Commission's announcement permanent bailout fund should inject money directly into banks was not supported by main

Wed, 30 May 2012 20:10:05 GMT

Ireland seeks for support from the ESM

Ireland hopes to ensure additional funding beyond the received EUR 85 billion in December, which will be determined by the upcoming referendum Thursday 31 May. The purpose of the referendum is to receive the approval (or rejection) of the Irish people for imposing austerity in terms of taxes and spending control. According to Enda Kenny, Prime Minister, if the Irish agree to the treaty, the

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