The European Central Bank left interest rates at 1 percent today, dashing some market expectations that it might move quickly to combat fears about the health of the euro zone.
European Central Bank President Mario Draghi pledged today to do whatever was necessary to protect the euro zone from collapse, including acting to lower unreasonably high government borrowing costs.
European Union officials pushed to accelerate moves to stem the bloc's long debt crisis as Italian premier Mario Monti warned that economic suffering was fuelling divisive nationalism on the continent.
European finance ministers discussed ways of boosting IMF resources to build a better firewall against the debt crisis today, while also assessing plans for tighter euro zone fiscal rules that they hope will prevent the problems from worsening.
The European Central Bank should ramp up its buying of troubled euro zone debt to support Italy and prevent a "cataclysmic" collapse of the euro, David Riley, the head of sovereign ratings for Fitch, said today.
The European Central Bank held interest rates at 1.0 percent for the third month running today, pausing to assess the impact of a dramatic sweep of measures that has unsettled some at the bank.
European Central Bank President Jean-Claude Trichet said in a newspaper interview the euro zone sovereign debt crisis was not yet over and that it was too early for the all-clear signal
The European Central Bank cut interest rates by a quarter of a point today to counter the twin threats of recession and deflation in the euro zone, and is expected to unveil fresh measures to help banks hurt by the bloc's debt crisis.
A European summit deal to strengthen budget discipline in the euro zone failed to restore financial market confidence, forcing the European Central Bank to step in again gingerly.
Proposals to double the size of the IMF as part of a broader international response to Europe's debt crisis immediately ran into resistance from the United States and others, burying the idea for now and firmly putting the onus back on Europe.
A flare-up over the European Central Bank and political turmoil in Italy kept the euro zone on edge on the eve of a summit meant to confront the currency bloc's worsening sovereign debt crisis.
Euro zone leaders intend to multiply the capacity of their rescue fund around fourfold to one trillion euros but details of how they plan to draw a line under Europe's worsening debt crisis will not be nailed until next month, sources said.
The top German official at the European Central Bank resigned unexpectedly in conflict with the bank's policy of buying government bonds to combat the euro zone's debt crisis.
The European Central Bank kept interest rates on hold today as broadly expected and is expected to launch a set of fresh liquidity measures to help banks to weather the euro zone's worsening debt storm.
European Central Bank President Jean-Claude Trichet issued the dramatic warning as chairman of the European Systemic Risk Board, created to avoid a repeat of the 2008 financial crisis, amid growing fears that Greece will default on its massive debt.
The European Central Bank intervened dramatically in bond markets today, backing up a verbal pledge to support Spain and Italy with action in an attempt to avert a financial meltdown in the euro zone.
Prime Minister Silvio Berlusconi promised an emergency decree to approve austerity measures agreed with the European Central Bank but faced union opposition over concern that the cuts would hit ordinary Italians.
The Italian Senate approved the government's widely criticised austerity programme aimed at staving off financial crisis in a vote of confidence called by Prime Minister Silvio Berlusconi.
The European Parliament formally endorsed Italy's Mario Draghi to be the next president of the European Central Bank today.
EU leaders appointed today Italy's Mario Draghi as the next president of the European Central Bank but it was unclear whether another Italian on the ECB's Executive Board would step down to smooth the process.
European Union leaders are poised to hold an emergency summit after finance ministers acknowledged for the first time that some form of Greek default may be needed to cut Athens' debts and stop contagion to Italy and Spain.