European Central Bank President Mario Draghi pledged on Thursday to do whatever was necessary to protect the euro zone from collapse, sending a strong signal that inflated Spanish and Italian borrowing costs were in his sights. Fears about the euro …
EU leaders go into a Brussels meeting today, Thursday June 28, more openly divided than at any time since the euro crisis began, with Germany’s Chancellor Angela Merkel showing no sign of relenting in her refusal to back other countries’ …
A.M. Best Co. has commented that the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings of “a” of the members of MAPFRE USA Group are unchanged following the recent market volatility surrounding Spain’s economic conditions, derived from …
A.M. Best Europe – Rating Services Limited has commented that the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of MAPFRE RE, Compania de Reaseguros, S.A. are unchanged following the recent market volatility surrounding …
The leaders of Germany, France, Italy and Spain agreed on Friday on a €130 billion ($163 billion) package to try to revive economic growth in Europe but differed over whether and how to launch joint bonds to combat the euro …
Europe won support from world leaders on Tuesday for an ambitious, but slow-moving, overhaul of the euro zone, even as pressure built in financial markets for quicker solutions to its debt crisis that threatens the world economy. European countries showed …
Authorities in the world’s major economies are preparing for a possible market storm or public panic after cliffhanger Greek elections this weekend, officials said on Thursday, should radical leftists win and cast doubt on the nation’s future in the euro …
Chancellor Angela Merkel rebuffed pressure on Thursday for Germany, Europe’s most powerful economy, to underwrite debt or guarantee bank deposits in the euro zone, as Spain’s soaring borrowing costs raised new alarm. Spain’s 10-year bond yield hit a euro lifetime …
Euro zone finance ministers rushed Spain into an EU-funded rescue for its debt-stricken banks to pre-empt the threat of a bank run if Greece’s debt crisis flares again but any respite for Madrid and the euro may be short-lived. After …
As Best announced in conjunction with these current rating actions, they follow a series of actions taken last December to address the implications for euro zone insurers. Generally it changed the outlook on the ratings, including MAPFRE PRAICO, to negative …
