The European Central Bank (ECB) has lowered the interest rates for bank deposits by 10 basis points to minus 0.5 percent. The ECB is hoping that the measure will encourage banks to lend out more, thereby stimulating the economy.
While the U.S.-China trade war and Brexit have been hogging international headlines, a quiet storm is brewing in Italy that threatens to disrupt the European economy. The country’s debt is currently sitting at 132 percent of its GDP, worrying several…
Alexis Tsipras has resigned as Greece’s Prime Minister, and so now his country faces another election that is expected to be held at the end of September.
After shutting their doors for three weeks, Greek banks reopened on Monday, but have done so in a very limited capacity amid expectations that Greece’s economy remains headed toward a deep recession.
After Greece gave a big ‘No’ to further austerity measures, market investors became even more uncertain. While the thousands of ‘No’ campaigners celebrated the results in Athens, the euro slowly plummeted downward, and the markets became even more uncertain.
What was meant to be a joke at an Apple investor conference a few years ago is actually not truly impossible. Apple’s accumulated wealth is about $194 billion—which they could actually use to buy out Greece.
With Greece’s default and dropout from the Euro being so imminent that it has cold sweat running down many peoples’ necks, there still seems to be a glimmer of hope that Greece and it’s creditors might find a compromise.