Portugal is fighting a losing battle to contain its public debt and may be forced to impose haircuts of up to 50pc on private creditors, according to a top German institute. 26 Jan 2012 Angela Merkel has defied calls for a radical shift in strategy to lift Europe out of crisis but is increasingly isolated as the IMF and global bodies join ranks. 25 Jan 2012 European Union officials have stepped up pressure on Greece and its creditor banks in a complex game of three-way brinkmanship, signalling that they will allow a Greek default to run its course unless both sides accept more pain. 24 Jan 2012 Japan has racked up its first trade deficit in 31 years as the country's ageing crisis hits home and the Fukushima nuclear disaster raises dependence on imported fuel. 24 Jan 2012 Crucial talks between Greece and private creditors on debt restructuring stalled over the weekend, with a dispute over the interest rate to be paid on new bonds. 22 Jan 2012 Political leaders in Italy and Spain have called for a massive boost to the EU rescue fund and a blast of monetary stimulus by the European Central Bank (ECB), putting them on a collision course with Germany. 22 Jan 2012 Britain has sunk deeper into debt. Three years after bubble burst, the UK has barely begun to tackle the crushing burden left by Gordon Brown. The contrast with the United States is frankly shocking. 22 Jan 2012 The International Monetary Fund has slashed its global growth forecast for this year and exhorted the European Central Bank to boost liquidity to stave off a deeper eurozone crisis. 19 Jan 2012 Portugal's borrowing costs have jumped to record highs and are tracking the moves seen in the culminating phase of Greece's debt crisis, dashing hopes that the country will be able to stave off contagion by embracing drastic austerity. 19 Jan 2012 Property prices are falling at an accelerating rate across China and unsold inventories have reached the highest level in recent history, raising concerns monetary tightening may have gone too far. 18 Jan 2012 The World Bank has slashed its global growth forecast and told developing nations to prepare for the worst, warning that Europe’s debt crisis could trigger an even deeper slump than the post-Lehman collapse three years ago. 18 Jan 2012 The European Commission has launched legal action against Hungary's Fidesz government for violations of European Union treaty law and erosion of democracy, marking a dramatic escalation in the war of words with the EU'senfant terrible. 17 Jan 2012 So we enter Year IV of the Long Slump, the cruellest yet though not the most acute.Ambrose Evans-Pritchard
Ambrose Evans-Pritchard is International Business Editor of The Daily Telegraph. He has covered world politics and economics for 30 years, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels.
LATEST FROM AMBROSE EVANS-PRITCHARD
Investors fear mounting losses in Portugal as second rescue looms
Merkel defiant as IMF attacks Germany
EU piles on pressure with Greek default threat
Ageing Japan faces 'chronic' trade deficit after Fukushima
Greek debt talks stall over interest rate on bonds
Debt crisis: Italy and Spain call for eurozone rescue fund booster
America overcomes the debt crisis as Britain sinks deeper into the swamp
IMF slashes global forecast, with drastic falls in Italy and Spain
Portugal to need "debt haircut" as economy tips into Grecian downward spiral
China's property price slide gathers speed
World Bank: euro crisis could set off deeper slump than Lehman
Hungary faces ruin as EU loses patience
Ambrose Evans-Pritchard: 2012 could be the year Germany lets the euro die
Sunday, 29 January 2012
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