European Central Bank
Economy
Bernanke: Greek Economy Remains in Deep Recession
Financial stress in Europe has eased recently, but risks remain for U.S. financial institutions and money market funds, Federal Reserve Chairman Ben Bernanke said in remarks prepared for a Wednesday congressional hearing.
Strains on the European banking system could spread...
Economy
European Central Bank Suspends Use of Greek Bonds as Collateral
The European Central Bank said on Tuesday that it would temporarily refuse to accept Greek bonds as collateral, but said national central banks would provide funds to any banks in need.
The ECB said in a statement that Greek bonds...
Economy
Papandreou Changes His Mind, Refuses to Step Down as PASOK Leader
ATHENS – PASOK Socialist leader George Papandreou, who had promised to step down so that his party could have a new leader and candidate for Prime Minister in elections scheduled for April, said he won’t give up just yet...
Cyprus
ECB Orphanides: EMU Would Benefit From Greek PSI Reversal
European Central Bank Governing Council member Athanasios Orphanides called on European leaders to reverse their decision to have private holders of Greek sovereign bonds take losses, arguing that the Eurozone as a whole would benefit from such a reversal...