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Asian stocks climbed higher again during Friday trading in Asia, as the markets reacted positively to the Greek Parliament passing a second set of austerity measures that allowed Greece to receive the latest 12 billion euro ($17 billion) installment of its emergency loan from the European Union (EU...

It looks as though Greece will avoid plunging the international financial system into turmoil, as the Greek Parliament is preparing for a second vote on austerity measures that the European Union (EU) demanded in order for Greece to receive the next installment of the 110 billion euro bailout that...

According to the French daily Liberation, Dominique Strauss-Kahn's lawyers may exploit a possible flaw in the identification procedure to get the former International Monetary Fund head off the hook for suspected rape.

Banking stocks are climbing higher early during the Wednesday trading session, after Bank of America Corporation (NYSE: BAC) announced an $8.5 billion settlement with investors who had purchased mortgage backed securities originated by Bank of America Corporation's Countrywide Financial business...

Most Asian stock markets ended Wednesday trading in positive territory, mainly on the belief that the Greek Parliament would pass a set of austerity measures aimed at getting the country's finances in order and ending the near-term possibility of a default by Greece on its debts. Earlier in the...

News just broke that the IMF board has selected French Finance Minister Christine Lagarde as the new IMF managing director. This morning, U.S. Treasury Secretary Geithner gave Lagarde his formal recommendation for backing Lagarde as the new head of the IMF.

The European Union said that the Greek Parliament must pass the latest round of austerity measures in order to receive the next installment of the 110 billion euro loan from the European Union and the International Monetary Fund. Without the next loan installment, the Greek government could run...

After U.S. Treasury Secretary Timothy Geithner endorsed French Finance Minister Christine Lagarde for the next head of the International Monetary Fund, Lagarde's nomination has been all but sealed at this point. Lagarde is expected to be selected for candidacy from the 24-member board, and make...

Acting head of the IMF, John Lipsky, formerly of J.P. Morgan (NYSE: JP) is out with some comments on Greece, and its need to compete. Lipsky said it is a critical question of whether Greece can compete or not. Lipsky also said that the Greece program has a "reasonable chance of success."

A Greek website, Capital.gr, says that the Greek no-confidence vote is likely to pass tonight. The vote is a condition of Greece receiving the European Union's portion of the next tranche of the bailout due in July. The tranche was originally scheduled to be paid this month, but has been pushed...

On Monday, the acting head of the International Monetary Fund, John Lipsky, stated that the IMF was not presently negotiating the second financial rescue package for Greece, according to Bloomberg. Instead, Lipsky stated that the IMF was focusing its efforts on the current financial rescue plan...

It became necessary to destroy the periphery in order to save the core's banks William K. Black Gary O'Callaghan, a former IMF economist has written about his distress over what he views as the European Central Bank's (ECB's) destructive policies toward the periphery. http://www.independent.ie...

A Congressional hearing on the mutual fund industry this week will likely put money market funds under scrutiny for any holdings of Greek debt and other euro zone investments. The House Financial Services Committee announced June 3 that its capital markets subcommittee would conduct a standard...

Greece Prime Minister George Papandreou pleaded for unity and strength with his constituents on Sunday, as European Union and IMF officials scrambled to avoid a catastrophic bankruptcy for the Mediterranean country. "The consequences of a violent bankruptcy or exit from the euro would be...

On Friday, the EUR/USD pair rallied as comments from German Chancellor Angela Merkel and French President Nicolas Sarkozy indicated that a new bailout package for Greece worth nearly 150 billion euros would come sometime in July, Reuters reported. The markets moved higher on the news. In the U.S...