ECB Plans to Set Yield Targets for Bond Purchases

Interest rates on Spanish sovereign bonds have been rising to dangerous levels in recent weeks. Now, SPIEGEL has learned that the European Central Bank plans to use a new instrument to stop the trend: The bank is considering setting yield targets on the bonds of euro-zone countries. Should interest rates exceed those levels, the ECB … Continue reading

Greek deal to cut spending does not end debt drama

FRANKFURT, Germany (AP) — More than two years after it came clean about its addiction to debt, Greece may finally have begun its long and painful road to recovery. Greece’s fractious political leaders struck a deal Thursday to make deep cuts in government jobs and spending to help save the country from a default that … Continue reading