Ireland Applies for European Union Loans Ireland has applied for massive EU loans. Ireland has formally submitted a request for loans to stop the huge capital flight that is occurring there. Ireland’s banks need assistance and the large EU-IMF loan will add more capital to its base to help ease the banking credit issues. AP…
Regulators around the globe have agreed to reforms for banks worldwide. Banks will have to increase their reserve requirements to protect against risky, large investment losses. The Basel Committee on Banking Supervision detailed some of the new requirements today and investors are evaluating how these reforms will effect bank balance sheets. New requirements for many…
Greece Seeks to Assure Investors. Greece works to keep investor confidence up. Greek government officials are working to help increase confidence that Greece will not need to restructure its debt. Greece will be auctioning over 1 billion in six-month Treasury bills and is looking for buyers. Analysts are looking for data to show that the…
The second quarter numbers are in. The strong euro continued to grow from last quarter at a rate of 1 percent in the second quarter. This helped the German economy grow at a rate of 2.2 percent. The German economy performed well among the euro zone countries but Greek, Portugal and Spain economies did not…
Wyclef Jean is in the news for something other than music. The former star of the 1990′s hip hop group the Fugees has big aspirations. He is running for president of Haiti. Recent events including the earthquake that leveled much of the capital have caused Wyclef Jean to get serious about running for president of…
