The European Union says it has a plan in place to solve the debt problems plaguing the eurozone. But this crisis has been simmering for three years, and was decades in the making; can it be solved so easily?
Tuesday saw global markets take a dive on fears the proposed Greek referendum will lead to a messy debt default.
Everyone is feeling the pinch. According to two separate reports, individual Canadians and corporations are having more and more trouble trying to gain ground in this weak economy.
The average Canadian expects to retire debt-free at age 63, according to a new Harris/Decima poll commissioned by CIBC. However, the poll also shows that older Canadians are less optimistic about reaching their savings goals and expect to carry at least some debt into retirement.
The Eurozone crisis continues to be an albatross around the neck of the world desperately hoping for some semblance of ever-eluding economic recovery.
As the world economy stares into the abyss, the path to recovery seems long and painful. And as a massive flight to safety continues among nervous investors, many of the world's developed economies face a bumpy ride ahead.
The outcome of the European debt crisis is “genuinely unpredictable” with politicians facing “horrifying” choices, according to Martin Wolf, associate editor of the Financial Times, who spoke in Ottawa Monday at an event organized by Canada 2020.
Plans announced yesterday by the Federal Reserve to purchase more long-term U.S. debt was translated by worldwide financial markets to mean America’s economic malaise won’t ease any time soon. European markets tanked shortly after opening.
With Greece on the edge of default, president Obama has drawn a hard line on deficit reduction, aimed at mimicking the tactics of his GOP counterparts.
There's yet more evidence that Canadians are clueless about when they might realistically be free of debt. And the current low interest rate environment is to blame for that, according to consumer debt survey by Manulife Bank of Canada.