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Financial markets

Eurozone ministers OK $10.7 billion Greek loan

Mario Monti, Evangelos Venizelos
With Italy sinking rapidly into financial chaos, the eurozone's 17 finance ministers scrambled Tuesday to find enough money to give their rescue fund a veneer of credibility and the markets some reason to believe their embattled currency won't break up. Read More

Spanish conservatives win general elections

Mariano Rajoy, Elvira Fernandez Balboa
Spain's opposition conservatives swept commandingly into power and into the hot seat Sunday as voters enduring a 21.5 percent jobless rate and stagnant economy dumped the Socialists — the third time in as many weeks Europe's debt crisis has claimed a government. Read More

Italy's Monti to map debt strategy in Brussels

Mario Monti, Pope Benedict XVI
Premier Mario Monti says he's going to Brussels next week to meet with the European Commission and the French and German leaders to map out his strategy for saving Italy from the debt crisis. Monti announced the trip during a speech Friday to Italy's lower Parliament chamber ahead of a confidence vote for his new government. Read More

Monti forms new Italian govt with no politicians

Mario Monti
Premier Mario Monti formed a new Italian government without a single politician Wednesday, drawing from the ranks of bankers, diplomats and business executives to create a team to steer Italy away from financial disaster. Read More

Let the Greeks drown in their drachmas

“If you die,” Crito pleaded with the imprisoned Socrates, “people who do not know you and me will believe that I might have saved you if I had been willing to give money, but that I did not care.” Socrates replied: “But why, my dear Crito, should we care about the opinion of the many?” With that reply, Socrates signaled his refusal to be released from jail through bribery and thence to flee Athens. Read More
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