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Euro Bailout Fund

Top 10 Nations Stockpiling Gold

Source: ThinkstockDiscussions involving gold hoarders tend to generate images of the stereotypical nervous Nellie hiding out somewhere in the wilderness. Uncivilized and irrational, they count their so-called barbaric stacks of gold, which are located next to a lifetime supply of canned goods. While this portrayal may be amusing, the biggest hoarders of gold are some of the most advanced nations in the world.Global gold demand reached 3,756.1 tonnes last year, valued at $170 billion, according to the World Gold Council. Demand was down from the prior year due to heavy outflows in exchange-traded funds and similar products, but bar and coin demand surged 28 percent year-over-year as investors still had an appetite for hard assets.With gold prices posting their first annual loss in more than a decade, central banks around the world purchased 368.9 tonnes of gold in 2013, above the five-year average of 282.6 tonnes. Let's take a look at the ten nations with the largest gold reserves, base...

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  1. ECB says rates to stay at record low for extended period

    The European Central Bank will keep interest rates at record lows for an extended period and could yet cut them further, the bank's chief, Mario Draghi, said on Thur...

  2. EU leaders pledge to push on with banking union

    European Union leaders confirmed on Friday they want agreement by the end of the year on a way to resolve failed banks at European rather than a national level, sign...

  3. EU ministers seek resolution on who pays if banks fail

    European Union finance ministers are under pressure to agree who pays for failing banks after failing to reach a deal last week, with Germany and France at odds on h...

  4. EU to decide who pays when banks fail

    The European Union sought on Friday to forge rules to force losses on large savers of failed banks, a taboo that was broken in this year's bailout for Cyprus.Finance...

  5. EU Bail Fund Conditions Get Complicated

    The European Union sought on Friday to forge rules to force losses on large savers when banks fail, a divisive reform that will shape how the euro zone deals with it...

  6. Euro ministers to set bank bailout rules on Thursday

    Euro zone finance ministers will decide on Thursday when and how their bailout fund can invest in a bank to save it from failure, a long-promised move that aims to b...

  7. Euro ministers to decide direct bank recapitalization rules on Thursday

    Euro zone finance ministers will decide on Thursday when and how their bailout fund can invest in a bank to save it from failure, laying a cornerstone of the banking...

  8. Exclusive: Creditors, governments must pay in any euro bank rescue - document

    Bondholders and governments will always have to contribute to shoring up a failing euro zone bank even when the bloc's bailout fund ESM offers direct aid, according ...

  9. Ireland Still Hoping to Refinance Bank Debts Through ESM

    Ireland's government is still hoping the euro area authorities will allow it to refinance huge debts it ran up during the country's deep financial crisis to save its...

  10. European Credit Market Holds Steady; EFSF Sells 10-Year Bonds

    A spare smattering of new bonds were sold in Europe on Wednesday as credit markets spent the session hovering near unchanged.A quasi-sovereign borrower, a bank, and ...

  11. EU Commission or ESM could wind down ailing banks: report

    People involved in negotiating a European banking union are discussing entrusting the European Commission or the euro zone's bailout fund with winding down ailing ba...

  12. Euro -Zone Banks Assets to Undergo Evaluation

    Banks that will be supervised by the upcoming euro-zone supervisory mechanism headed by the European Central Bank will undergo an asset-quality review beforehand, a ...

  1. German Court Rules Euro -zone Bailout Fund Legal

    Germany's highest court ruled Tuesday that the euro zone's permanent bailout facility does not undermine the German parliament's sovereignty over the country's budge...

  2. Europe prepares to come clean on hidden bank losses

    Euro zone countries will consider on Monday how to pay for the repair of their broken banks after health checks next year that are expected to uncover problems that ...

  3. Europe's plan to address weak banks risks unraveling

    The European Central Bank's (ECB) plan to test the health of the euro zone's largest lenders without the means to plug any holes it uncovers risks foiling what some ...

  4. Germany, Finland, query Commission's planned role in bank decisions

    Germany and Finland said on Friday the European Commission should not have the final say on when and how a euro zone bank could be closed, a position that could furt...

  5. Ireland to seek 10 billion euro post-bailout backstop

    Ireland will seek a 10 billion euro precautionary credit line to insulate it against possible market shocks when its bailout expires at the end of this year, Finance...

  6. Recovering UBS to Buy Back Toxic Asset Fund

    UBS will buy back a fund set up to purge the Swiss bank of toxic assets, drawing a line under a humiliating state bailout in 2008 and raising the prospect of an earl...

  7. Greece Gets OK For Bailout Payment Of 4 Bln Euros

    Euro-zone officials have given the green light for Greece to receive its latest sub-tranche of bailout funds, the European Commission said Friday. Simon O'Connor, sp...

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