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Tagged: euro crisis

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June 29, 2012
14:36 • 10 months ago

  • cause In an effort to salvage the economies of many nations in the Eurozone, European leaders financially united their nations and created a banking union last night.
  • effect The union, which effectively makes the Euro’s banking system more like the United States’, gave investors faith — the Dow jumped by 200 points this morning. source

June 10, 2012
20:53 • 11 months ago
“Nobody pressured me; I was the one who pressured to get credit.” Those are the words of Spanish Prime Minister Mariano Rajoy, regarding the $125 billion bailout his country asked for over the weekend. Rajoy initially denied such a bailout would be necessary during his first months in office, but the countries struggling banks forced his hand. Rajoy, who has had some success in sorting out the country’s labor system (which has extremely high unemployment partly due to extremely strict hiring rules), faces a very uncertain public who he may have trouble convincing that the country’s banks are safe. (photo by Dani Pozo/AFP/Getty Images)

“Nobody pressured me; I was the one who pressured to get credit.” Those are the words of Spanish Prime Minister Mariano Rajoy, regarding the $125 billion bailout his country asked for over the weekend. Rajoy initially denied such a bailout would be necessary during his first months in office, but the countries struggling banks forced his hand. Rajoy, who has had some success in sorting out the country’s labor system (which has extremely high unemployment partly due to extremely strict hiring rules), faces a very uncertain public who he may have trouble convincing that the country’s banks are safe. (photo by Dani Pozo/AFP/Getty Images)

September 17, 2011
11:45 • 1 year ago
 

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