EU leaders struggle

EU leaders struggle

European leaders struggled to reconcile austerity with growth on Monday at a summit due to approve a permanent rescue fund for the euro zone and put finishing touches to a German-driven pact for stricter budget discipline. Officially, the half-day summit was meant to...
Germany and France push change

Germany and France push change

The president of the European Commission appealed to EU leaders on Thursday to set aside their differences and unite to rescue the euro from a sovereign debt crisis that is menacing the world economy. Jose Manuel Barroso was speaking hours before a potentially...
EU to bolster capital ratio of banks

EU to bolster capital ratio of banks

Brussels – European leaders have reached agreement on bolstering the capital ratio of banks in the Eurozone to 9.0 percent in order to provide additional capital buffer amid the ongoing sovereign debt crisis in some of the countries, says Polish Prime Minister...

Policy alone cannot solve economic crisis

Pretoria – Monetary policy alone cannot solve the global economic crisis, Reserve Bank Governor Gill Marcus said on Tuesday. The governor said that normal cyclical downturns are often reinforced by tight monetary policies in response to an overheating economy...