September 16, 2011
General view of the European parliament in Strasbourg, eastern France. The European Union moved closer on Thursday to toughening budget rules to punish overspenders after the EU Parliament and governments reached a compromise to prevent future debt crises. Governments that run excessive public deficits could face financial sanctions under the deal, although the measures would [...]
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September 15, 2011
EU commissioner for Economic and Monetary Affairs Olli Rehn has said eurozone economy was set to come to a “virtual standstill” in the second half of the year, but he assured that Europe would avoid another recession. The eurozone’s runaway debt crisis is dragging down growth, the EU warned on Thursday as finance ministers headed [...]
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November 14, 2009
The dollar ended the week lower against major currencies as a growth of the euro zone economy boosted investors’ risk appetite, which lacked support in previous sessions. Gross Domestic Product (GDP) increased by 0.4 percent in the euro zone, and by 0.2 in the 27-nation European Union (EU) during the third quarter of 2009, according [...]
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November 12, 2009
Treasury Secretary Timothy Geithner smiles during a Finance Ministers news conference at the APEC Summit in Singapore November 12, 2009. US Treasury Secretary Timothy Geithner said Asia-Pacific nations need âmarket-orientedâ currencies that are in line with their economic fundamentals to encourage new sources of growth. Members of the Asia-Pacific Economic Cooperation group, which make up [...]
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November 10, 2009
It is still too early to remove stimulus, and climate change financing remains the key to success of the Copenhagen conference, the G20 finance ministers and bank governors said Saturday. Britain’s Prime Minister Gordon Brown (L) talks to the Chairman of the U.S. Federal Reserve Ben Bernanke (back to camera), U.S. Treasury Secretary Timothy Geithner [...]
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October 4, 2009
Finance leaders of G7 warned Saturday of disorderly movements in exchange rates and welcomed China’s commitment to make the exchange rate of its currency more flexible. G-7 Finance Ministers and their central bank governors hold a meeting at the Istanbul Congress Center October 3, 2009. “Excess volatility and disorderly movements in exchange rates have adverse [...]
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October 2, 2009
European Union (EU) finance ministers on Thursday agreed on some principles of an exit strategy to phase out their economic stimulus, but left a question mark on when to put it into practice. Sweden’s Finance Minister Anders Borg arrives for the dinner of the G20 Finance Ministers’ meeting at the Guildhall in the City of [...]
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September 6, 2009
Finance ministers and central bank governors of G20 pledged to boost the global economic recovery and to plan an exit strategy from the extraordinary economic stimulus. Britain’s Chancellor of the Exchequer Alistair Darling fields questions at a news conference after the G20 Finance Ministers meeting in London, capital of the U.K., Sept. 5, 2009. G20 [...]
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September 5, 2009
(From left) US Treasury Secretary Tim Geithner, British Finance Minister Alistair Darling and French Finance Minister Christine Lagarde pose during the G20 finance ministers meeting in London. G20 finance leaders struggled on Saturday to pin down specific measures to tighten bank pay and lending rules to prevent a repeat of the financial chaos that triggered [...]
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September 5, 2009
The finance ministers and central bank governors of Brazil, Russia, India and China — the so-called BRIC countries — gathered in London on Friday Finance Ministers from Russia, China, Brazil and India Alexey Kudrin, Xie Xuren, Guido Mantega and Pranab Mukherjee (R-L) host a press conference after their meeting in London, capital of the U.K., [...]
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