Spain Financial Crisis

The US dollar rallied on Tuesday after a string of healthy economic data boosted near-term rate hike prospects, while Greece's financial crisis and signs of growing opposition to austerity in Spain weighed further on the euro.

Germany votes on Sunday with Chancellor Angela Merkel poised to win a third term, making her Europe's only major leader to survive its financial crisis but potentially forced into governing with her main rivals.

World shares were heading for their worst week since November and gold was nearly at a one-month high on Friday as Cyprus scrambled to avoid a meltdown of its banks and exit from the euro that could upset the whole region.

International lenders struck a deal on Saturday to hand Cyprus a bailout worth 10 billion euros to stave off bankruptcy, a senior euro zone official said. Cyprus is the fifth country after Greece, Ireland, Portugal and Spain to turn to the euro zone for financial help in the wake of the sovereign debt crisis that started in 2010.

The countries worst hit by the European financial crisis are also perceived as being among the most corrupt in the European Union, and those perceptions appear to be getting increasingly negative, an international watchdog said in a new report released Wednesday.

The euro zone fell into a recession in July-September, the second since the global financial crisis in 2009, as French resilience could not make up for a slump across Europe and the three-year debt crisis slowed Germany to a crawl. Economic output in the 17-country euro zone fell 0.1 percent in the third quarter, the EU's statistics office Eurostat...

Squeezed by financial markets and denounced in the streets, Spain's government will adopt on Thursday a 2013 austerity budget which could be a precursor to a full-blown bailout. The final step before a rescue is likely to come a day later, analysts say, when Madrid unveils an independent audit of its limping banks to determine how much capital they...

Spain's Parliament has taken on the appearance of a heavily guarded fortress with rows of metal barriers manned by dozens of police blocking access from every possible angle, hours ahead of a protest against the conservative government's handling of the economic crisis.

Peter Doyle said the IMF's failed to issue timely warnings for both the 2007-2009 global financial crisis and the euro zone crisis.

The island nation said it required assistance following "negative spillover effects through its financial sector, due to its large exposure in the Greek economy."

Europe's latest efforts to quell its financial crisis left investors exasperated, causing steep losses in stocks.

For months, governments and economists have weighed two different paths to ease the financial crisis.

U.S. indexes opened lower then drifted between modest gains and losses. The Dow closed down 0.2%.

Madrid's key borrowing rate closed at a euro-era high, indicating deep investor concern about the government's financial stability.

Developing countries should brace for a long period of financial market volatility and weaker growth, it says.

The US dollar rallied on Tuesday after a string of healthy economic data boosted near-term rate hike prospects, while Greece's financial crisis and signs of growing opposition to austerity in Spain weighed further on the euro.

Germany votes on Sunday with Chancellor Angela Merkel poised to win a third term, making her Europe's only major leader to survive its financial crisis but potentially forced into governing with her main rivals.

World shares were heading for their worst week since November and gold was nearly at a one-month high on Friday as Cyprus scrambled to avoid a meltdown of its banks and exit from the euro that could upset the whole region.

International lenders struck a deal on Saturday to hand Cyprus a bailout worth 10 billion euros to stave off bankruptcy, a senior euro zone official said. Cyprus is the fifth country after Greece, Ireland, Portugal and Spain to turn to the euro zone for financial help in the wake of the sovereign debt crisis that started in 2010.

The countries worst hit by the European financial crisis are also perceived as being among the most corrupt in the European Union, and those perceptions appear to be getting increasingly negative, an international watchdog said in a new report released Wednesday.

The euro zone fell into a recession in July-September, the second since the global financial crisis in 2009, as French resilience could not make up for a slump across Europe and the three-year debt crisis slowed Germany to a crawl. Economic output in the 17-country euro zone fell 0.1 percent in the third quarter, the EU's statistics office Eurostat...

Squeezed by financial markets and denounced in the streets, Spain's government will adopt on Thursday a 2013 austerity budget which could be a precursor to a full-blown bailout. The final step before a rescue is likely to come a day later, analysts say, when Madrid unveils an independent audit of its limping banks to determine how much capital they...

Spain's Parliament has taken on the appearance of a heavily guarded fortress with rows of metal barriers manned by dozens of police blocking access from every possible angle, hours ahead of a protest against the conservative government's handling of the economic crisis.

Peter Doyle said the IMF's failed to issue timely warnings for both the 2007-2009 global financial crisis and the euro zone crisis.

The island nation said it required assistance following "negative spillover effects through its financial sector, due to its large exposure in the Greek economy."

Europe's latest efforts to quell its financial crisis left investors exasperated, causing steep losses in stocks.

For months, governments and economists have weighed two different paths to ease the financial crisis.

U.S. indexes opened lower then drifted between modest gains and losses. The Dow closed down 0.2%.

Madrid's key borrowing rate closed at a euro-era high, indicating deep investor concern about the government's financial stability.

Developing countries should brace for a long period of financial market volatility and weaker growth, it says.