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Market and Exchange

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  • Portugal's PM tries to soothe investors; BES says can cover any losses

    LISBON (Reuters) - Portugal's government and central bank assured investors on Friday that the southern European country's financial system was sound, aiming to quell worry about the spillover effects of trouble at the Espirito Santo business empire.
  • Dollar stable as market fears about Portugal ebb

    NEW YORK (Reuters) - The U.S. dollar was stable against the yen and the euro on Friday as Portugal's largest bank sought to reassure investors about its financial stability. Banco Espirito Santo said on Thursday night that loan losses to the troubled...

    Faltering Germany casts cloud over fragile euro zone

    BRUSSELS (Reuters) - Germany's faltering economy has cast further doubt over the euro zone's prospects for recovery this year, with no other big country strong enough to pick up the slack. Since late last year, the 18 countries using the euro have been...

    Draghi urges euro zone states 'to be sovereign together'

    LONDON (Reuters) - European Central Bank President Mario Draghi urged euro zone states to respect their joint fiscal rules and extend their cooperation to economic reforms, telling governments they must "learn to govern together". While reiterating his...

    ECB June action should suffice, says Coeure

    ATHENS (Reuters) - A batch of policy measures announced by the European Central Bank last month should be sufficient to help the euro zone economy, though the bank is ready to do more if needed, an ECB Board member said on Wednesday. To breathe life into...