European Central Bank

  • Can 'Super Mario' save Europe and America?

    A fragile recovery in the U.S. could get derailed by a European meltdown. ECB chairman Mario Draghi can keep things on track.

    By John Cassidy, contributor

    FORTUNE -- Who will be the most important person in economics in 2012? President Obama? Mitt Romney? Ben Bernanke? My candidate is Mario Draghi (a.k.a. "Super Mario"), who took over as chairman of the European Central Bank. Though virtually unknown to Americans, the dapper Italian technocrat could MORE

    Jan 24, 2012 5:00 AM ET
  • How low will the euro go?

    The currency remained resilient through most of Europe's turmoil last year, but investors are finally beginning to see the euro for what it is: Weak.

    FORTUNE -- Investors have been unnerved for more than a year now about the future of the embattled euro zone. Bond yields for the zone's troubled peripheral countries soared, as investors lost faith that Greece and others would be able to pay back its huge debts. And MORE

    - Jan 10, 2012 12:06 PM ET
  • Why can't Europeans get along?

    The EU has been acting like a dysfunctional family. Cultural unity could help solve the euro puzzle.

    By Pankaj Ghemawat, contributor

    FORTUNE -- EU policymakers recognize the importance of preserving a highly integrated European economy. They are, however, making the same mistake that led to the euro mess in the first place: pretending that Europe can be integrated through administrative measures alone. Remember that the euro was adopted despite worries that the MORE

    Dec 7, 2011 5:00 AM ET
  • Central banks offer aid, but not a eurozone fix

    The coordinated move by central banks to make it cheaper to borrow dollars won't solve the eurozone's debt crisis. The eurobond is the best solution, but only if done right.

    By Cyrus Sanati, contributor

    FORTUNE -- European leaders are watching the Band-Aids they stuck on the eurozone's gushing wound of debt start to peel off. The largest attempted fix, the 440 billion euro European Financial Stability Facility, finally fell off last night, MORE

    Nov 30, 2011 11:15 AM ET
  • 3 biggest holes in Europe's debt deal

    The European debt plan is a step in the right direction, but there are still too many unanswered questions. Investors are sobering up to that reality.

    By Cyrus Sanati, contributor

    FORTUNE -- The magic seems to be fading on Europe's latest efforts to bring an end to its long-running sovereign debt crisis. The controversial deal reached last week initially sent markets soaring. But a lack of specifics in key areas of the MORE

    Oct 31, 2011 12:41 PM ET
  • Europe takes a page from U.S. bailout playbook

    Europe is considering programs that resemble two successful ones implemented by the U.S. Treasury Department at the height of the mortgage crisis. It's the right idea, but the wrong proposed structure.

    By Cyrus Sanati, contributor

    FORTUNE -- The big solution to Europe's long-running sovereign debt crisis was supposed to be unveiled today. But instead of a solution, the Europeans have managed to give the markets another dose of uncertainty. The result will MORE

    Oct 26, 2011 12:30 PM ET
  • Can Ireland escape Europe's debt crisis?

    Surprise, surprise. The Celtic Tiger is seeing better-than-expected growth.

    FORTUNE -- Despite all the upheaval surrounding bank funding and debt problems in Greece and Italy, investors are betting that one country is seeing better days: Ireland.

    The Celtic Tiger, among the eurozone's peripheral economies rescued to avoid the likelihood of defaulting on soaring debts, is seeing better-than-expected growth. Its economy expanded 1.6% in the second quarter after growing 1.9% during the previous MORE

    - Oct 13, 2011 2:14 PM ET
  • Wanted: A radical idea to fix the eurozone

    Here's one: European leaders could save Greece with a big enough bailout to put it back on track, and then take a cut of its growth in future years.

    FORTUNE -- After a series of efforts to keep Europe's ongoing debt crisis from turning into a worldwide financial disaster, it seems as though little has calmed investors: Greece, Portugal and Ireland are on the brink. Italy and Spain could be next. MORE

    - Sep 28, 2011 11:02 AM ET
  • In Europe, echoes of Lehman, with much bigger consequences

    What started as a sovereign debt crisis in Europe is slowly turning into a potentially disastrous banking crisis. It's like watching a bad rerun of a movie with a worse ending.

    By Cyrus Sanati, contributor

    FORTUNE -- The European economic contagion that began 18 months ago as a sovereign debt crisis is dangerously mutating into a full-blown banking crisis. With Greece in de-facto market default, weak banks within the eurozone have started to MORE

    Sep 16, 2011 11:01 AM ET
  • What happens after a Greek default

    As Greece falls, many are wondering how the rest of the European sovereign debt crisis will play out. For the euro to survive, it needs to have a more unified economic policy behind it.

    By Cyrus Sanati, contributor

    FORTUNE -- A Greek default has already occurred in the eyes of investors, even though it technically hasn't happened yet. The market is now forcing European leaders to quickly decide how they want the MORE

    Sep 13, 2011 10:33 AM ET
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