Europe has begun to prepare for a possible Greek exit from the euro zone ahead of elections next month that are fast becoming a referendum on the country's membership in the common currency.
James Dimon personally approved the concept behind J.P. Morgan's disastrous trades, but didn't monitor how they were executed. A behind-the-scenes account offers details about the drama inside the bank.
James Dimon personally approved the concept behind J.P. Morgan's disastrous trades, but didn't monitor how they were executed. A behind-the-scenes account offers details about the drama inside the bank.
Spain moved to quell fears of massive deposit withdrawals in Bankia as its shares were pummeled by a report that depositors had withdrawn around $1.27 billion.
In an action unrelated to U.S. sanctions against Tehran, Bank of Tokyo-Mitsubishi UFJ said it has frozen financial transactions with Iran's government and central bank, as ordered by a U.S. federal court.
Alexis Tsipras, head of Greece's radical left party, said in an interview with the Journal that there is little chance Europe will cut off funding to the country and if it does, Greece will repudiate its debts.
Returning to a national currency after more than a decade of using the euro and having its money managed by the ECB would catapult Greece into a financial, legal and political no-man's land.
Greece mandated a senior judge to form a government as caretaker prime minister ahead of new elections next month, after political parties failed to agree on a political or technocratic heavyweight for the job.
Returning to a national currency after more than a decade of using the euro and having its money managed by the ECB would catapult Greece into a financial, legal and political no-man's land.
Asian markets ended mixed, stabilizing after the previous day's heavy selling as worries over Europe subsided for the moment; the Shanghai Composite gained 1.4%.
