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Euro Zone

Conducting Business

In the Wake of Austerity, Europe Grapples with Arts Cuts

Monday, August 06, 2012

Classical music organizations throughout Europe have suffered from funding cuts in the wake of the euro crisis. Has the fat lady sung?

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The Takeaway

How Long Until Spain Is Bailed Out?

Tuesday, July 24, 2012

Over the past few months, the Spanish economy has been in critical condition. Now, a full bailout could be closer than expected. 

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The Takeaway

Wolfson Economic Prize Recognizes the Best Plan for Leaving the Euro

Thursday, July 05, 2012

The 2012 Wolfson Economic prize has been won by Roger Bootle, who came up with a plan for how to cope with the demise of the euro. Bootle led a team from Capital Economics that submitted a plan called "Leaving the Euro: A Practical Guide" (PDF). It was deemed ...

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The Takeaway

European Leaders Reach Deal to Help Banks

Friday, June 29, 2012

After 13 hours of emergency talks, European leaders have reached an agreement today to directly recapitalize some of the continent's struggling banks. The plan is to use the euro zone's bailout fund to directly support the troubled banks in countries including Italy and Spain.

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The Takeaway

Pro-Bailout Party Wins Greek Elections

Monday, June 18, 2012

The pro-bailout New Democracy captured the most seats in the general election Sunday. Antonis Samaris, the leader of that party, will attempt to build a coalition among other Greek political parties who support the bailout, or the euro zone, in some form.

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The Takeaway

Why a Falling Euro Might Not Make for a Cheaper Vacation

Friday, June 08, 2012

The Eurozone is in complete disarray, and the Euro has fallen against the dollar. Does that mean it will be cheaper for American to travel to Europe? Not exactly, says Barbara Peterson, senior aviation correspondent at Conde Nast Traveler. Airfare costs depend on more than the exchange rate. 

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The Takeaway

This Week's Agenda: Trouble in the Euro Zone, Latino Voter Litmus Test for Romney in Texas, New Unemployment Numbers and Annan in Syria

Tuesday, May 29, 2012

Exploring the news for the week ahead are Callie Crossley, host of The Callie Crossley Show on WGBH, and Marcus Mabry, editor at large at The International Herald Tribune, the international edition of our partner, The New York Times.

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The Takeaway

The Euro Crisis Intensifies: Questions on Greece and the Debt

Thursday, May 24, 2012

Greece spent a decade working to become a full member of the European Union. Now it appears it's doing its best to get thrown out. At a summit meeting in Brussels last night, Euro leaders stepped up contingency planning for a possible Greek exit from the euro zone. Meanwhile, Europe's leaders are struggling to overcome their differences on how to resolve the EU's debt crisis. Joining us is Matthew Price, Brussels Correspondent for our partner the BBC.

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The Takeaway

Details on the Greek Bailout

Tuesday, February 21, 2012

How much will it cost Europe to keep Greece out of bankruptcy? $172 billion, that's how much. EU finance members gave approval to a second bailout package in Brussels overnight but Athens has to accept deep spending cuts and permanent monitoring. The chairman of the Euro group says the deal would secure Greece's future in the euro zone, but required the efforts of all parts of Greek society.

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The Takeaway

Euro Zone Agrees on Greece Debt Deal

Tuesday, February 21, 2012

Has Greece been saved for good? Euro zone leaders have agreed to a second bailout to save Greece from bankruptcy but Athens has to accept deep spending cuts and permanent monitoring. This has caused many Greeks to revolt. Joining The Takeaway is Steve Evans, correspondent for our partner the BBC.

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The Leonard Lopate Show

Backstory: EU and Debt

Thursday, January 19, 2012

Earlier this week, Standard & Poor’s downgraded the credit of nine European countries. In Greece, the government and private creditors continue to meet to renegotiate the debt there. On today’s first Backstory, Stuart Kirk, the head of the Lex column in The Financial Times, discusses this week’s negotiations, why many in Europe are now bracing for a Greek default, and how Europe is trying to cope with its continuing debt crisis in the new year.

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The Takeaway

The Economic Forecast for 2012

Friday, December 30, 2011

As evidenced by the Congressional debt panel's failure, MF Global's $600 million missing investor funds, and lagging employment numbers, the U.S. has a long way to go in terms of solving the economic problems that created the 2008 financial crisis. And there are plenty of potential pitfalls abroad — China's inflation rate is at 10 percent, and the euro zone's ongoing debt crisis. Yet, there are bright spots with many manufacturing, energy, and tech sector jobs growing.

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The Takeaway

This Week's Agenda: Holiday Retail; 2012 Economy; Euro Zone

Monday, December 26, 2011

Every Monday, The Takeaway looks at the big news stories from the week ahead. Christmas retail numbers and post-Christmas sales are expected to be stronger this year than in 2011. Heading into a presidential election year, voters will be looking to see how much the economy has improved. And the U.S. is not the only country that might see a shakeup in elected officials. Both China and Russia are likely to makes changes in leadership in the new year, as are a number of European countries.

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The Takeaway

EU Leaders May Face Tough Sell for Treaty at Home

Wednesday, December 14, 2011

A deal reached last week by European Union leaders to sign an intergovernmental treaty to save the euro may be in jeopardy. Some European leaders fear they may have signed a deal that they cannot sell to their governments at home. The news comes as the value of the euro on Wednesday morning fell to its lowest level since the beginning of the year. The BBC's Mark Gregory reports on the latest from London.

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The Takeaway

This Week's Agenda: Economy, Euro, GOP and Jobs

Monday, December 12, 2011

Every Monday, The Takeaway looks at the big stories that will dominate headlines in the week ahead. The euro zone may be on the brink of an agreement that will set into motion budget crunching measures throughout the continent. The GOP is heading into the home stretch in Iowa. And Congress looks to possibly pass a jobs bill.

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The Takeaway

Pact Redefines Sovereignty for European Union

Friday, December 09, 2011

A new treaty agreed to in the early hours of Friday by 23 European Union countries, including all 17 euro zone states, may be the most direct discussion of what constitutes sovereignty since the creation of the United Nations. The intergovernmental pact is a major step toward closer integration for the 17 countries that use the euro as currency, as well as the six that hope to join in the future. British Prime Minister David Cameron vetoed a plan by France and Germany to make changes to the EU treaties that would affect all 27 EU nations, saying the deal was not in the U.K.'s interests.

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The Takeaway

UK Vetoes EU Treaty

Friday, December 09, 2011

Twenty-three European Union countries, including all 17 that use the euro, agreed to an intergovernmental treaty that dictates strict tax and budget rules early Friday. The measure fell short of Germany and France's goal to get all 27 EU nations to back changes to the union's treaties after objections from Britain. Prime Minister David Cameron had sought exemptions for the U.K.'s financial sector. The fiscal compact, which penalizes members for breaking deficit rules, was welcomed by Mario Draghi, the new head of the European Central Bank.

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The Takeaway

Weighing Solutions for Euro Zone Crisis

Thursday, December 01, 2011

In an effort to help alleviate the symptoms of Europe's debt crisis, the Federal Reserve, the European Central Bank, and other international banks funneled U.S. dollars into European financial systems on Wednesday. The move helped markets by making American dollars more easily available outside the U.S. Stocks shot up in reaction to the news. The increased liquidity had the immediate effect of boosting the Dow Jones industrial average by 484 points. It was the biggest single day gain since March 2009. Some wondered, however, whether the move was a smart long-term investment, or just a temporary fix.

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The Takeaway

What's At the Heart of the Euro Zone Crisis?

Tuesday, November 29, 2011

Much of the political turmoil surrounding the euro zone crisis has centered around the question of whether fiscally stronger nations, such as Germany and France, should have to bail out Greece and other struggling economies. German Chancellor Angela Merkel has held the purse strings along with other leaders who have demanded strict austerity measures in those countries receiving assistance. Merkel is under political pressure at home with many in her government feeling that the Greeks, like the German people, should have lived within their means.

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The Takeaway

President Obama Hosts US-EU Summit

Monday, November 28, 2011

President Obama is hosting European Union leaders at the White House for this year's US-EU summit. Dominating discussions will be the issue of the European debt crisis. Eighteen months into its sovereign debt crisis, Europe is running out of time to find a real solution, and fears of contagion are growing.

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