NEW THINGS: Death Spiral?

Wednesday, May 9, 2012

Death Spiral?

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Nothing has changed so far.

There is a pay wall at the WSJ.

http://www.telegraph.co.uk/finance/financialcrisis/

More than £25bn wiped off UK's biggest companies

Graffiti, depicting the Euro symbol as a grenade about to be thrown by a soldier, sits on a wall in Athens, Greece

More than £25bn was wiped off the value of Britain's biggest companies on Tuesday as traders dumped risky assets and fled to safety as fears grew that Greece will leave the euro and trigger a fresh crisis.

08 May 2012

| 80 Comments

Greece drifts closer to euro exit

Leader of the Left Coalition party Alexis Tsipras smiles during a meeting with Greek President Karolos Papoulias in Athens May 8, 2012

A rudderless Greece was drifting closer towards a euro exit on Tuesday night as the man tasked with forming a new government vowed to abandon its austerity promises.

08 May 2012

| 3 Comments

Crisis escalates as insurrection breaks German control of Europe

German chancellor Angela Merkel, right, steers an electric vehicle during her visit at the vocational training center of German Siemens AG alongside student Alexander Wegner, Berlin, Monday, May 7, 2012

The political dam has broken in Europe. German Chancellor Angela Merkel no longer has enough allies in the club of EU prime ministers to impose her hairshirt agenda. Her methodical plans are disintegrating on every front.

08 May 2012

| 164 Comments

Stability has been the Coalition’s key success

Telegraph View: Two years in to the Coalition, and the two leaders can be reasonably satisfied with their efforts.

08 May 2012

| 34 Comments

Debt crisis: as it happened - May 8, 2012

French and Greek elections have overthrown Angela Merkel, the German chancellor, as the dominant force in European politics, newspapers in Germany have concluded.

Leader of left-wing Syriza party says Greeks voted against the "barbaric bailout" and austerity pledges are "null and void", while British 10-year borrowing costs drop to historic lows.

08 May 2012

| 1041 Comments

Germany 'vulnerable' to southern European crisis

The IMF has warned that Germany remains vulnerable to the problems brewing in southern Europe, even if its domestic economy is solid.

08 May 2012

| 11 Comments

European markets slump on Greek and French fears

European stock markets slumped on Tuesday amid question marks over Greece's commitment to its bailout pledges and France's future following weekend elections.

08 May 2012

| 38 Comments

Italy facing uphill battle to ratify EU's fiscal compact

Mario Monti, the Italian prime minister faces an uphill battle to ratify the EU's fiscal compact following local elections results which saw a swing to the centre left as voters gave the thumbs down to his government's tough austerity measures.

08 May 2012 Last updated at 23:37 ET