The U.S. dollar climbed to multi-year peaks against the euro and yen in Asia on Tuesday amid starkly diverging outlooks for interest rates globally, while currencies from emerging markets came under mounting pressure from risk aversion.
Tags: European Union
EU to tell Greece time, patience running out
Euro zone leaders will tell Greece on Thursday that time and patience are running out for its leftist-led government to implement agreed reforms to avert a looming cash crunch that could force it out of the single currency.
Germany will do all it can to avoid 'Grexident': govt official
Germany will do all it can to avoid Greece stumbling out of the euro zone, a senior government official said on Wednesday ahead of a meeting of European Union leaders in Brussels.
Dreary home market spurs Spanish banks on to foreign climes
Subdued growth prospects at home are pushing mid-sized Spanish banks into foreign acquisitions that would have been impossible a few years ago as they struggled under the weight of bad loans.
No more Blue Banana, Europe's industrial heart moves east
Once depicted as a "Blue Banana" stretching from Manchester to Milan, Europe's industrial heartland has moved eastwards just as its political center of gravity has shifted to Germany.
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The International Monetary Fund's bailout program for Ukraine assumes Kiev will be able to get $15.4 billion from talks with its creditors, according to four sources familiar with the IMF's documents.
Prime Minister Alexis Tsipras denied on Friday that Greece would need yet another international bailout, and a poll showed surging support for his government even though it had to back down to win a temporary lifeline from the euro zone.
The S&P 500 ended above 2,100 at another record high on Tuesday as optimism grew that a debt deal would be reached with Greece and as bond prices sold off.
Japanese shares touched an eight-year high on Monday following a record close on Wall Street, with investors cautiously optimistic the European Union would make progress this week on a debt deal with Greece.
Greece will make every effort to reach an agreement with its euro zone partners at Monday's meeting of euro zone finance ministers on how to transition to a new support program, its government spokesman said on Friday.
Greece's new leftist government and its international creditors failed to agree on a way forward on the country's unpopular bailout and will try again on Monday, with time running out for a financing deal.
Leftist Prime Minister Alexis Tsipras laid out plans on Sunday to dismantle Greece's "cruel" austerity program, ruling out any extension of its international bailout and setting himself on a collision course with his European partners.
Greece's new leftist-led government, isolated in the euro zone and under pressure from the European Central Bank, said on Friday it wanted no more bailout money with strings attached from the European Union and International Monetary Fund.
Greece's leftist government on Sunday began its drive to persuade a sceptical Europe to accept a new debt agreement while it starts to roll back on austerity measures imposed under its existing bailout agreement.
