Boris Roessler/European Pressphoto Agency
Mario Draghi, the head of the European Central Bank. Through his efforts to save the currency, Mr. Draghi may now be the most powerful leader in Europe.
As expected, the European Central Bank (ECB) moved to shore up market support and reduce interest rates for bond sales in Italy and Spain: http://www.nytimes.com/2012/09/07/business/global/european-central-bank-leaves-interest-rates-unchanged-at-0-75-percent.html?pagewanted=all
As noted in an editorial it is now up to EU governments to take the appropriate measures to move their economies forward: http://www.nytimes.com/2012/09/07/opinion/the-latest-attempt-to-save-the-euro.html?src=recg
However, the ECB's Draghi's bold move to support shaky countries leads to criticism, as Steven Erlanger from the New York Times writes: http://www.nytimes.com/2012/09/08/world/europe/after-high-note-for-ecb-plan-some-discord-emerges.html?ref=europe
France's president who has only been in office for a few months must figure out a way to cut his deficit while keeping his promises to increase economic growth: http://www.nytimes.com/2012/09/08/world/europe/french-president-must-cut-deficit-but-how.html?ref=europe
"And, in a worrying sign for euro zone policy makers, much of the media and political reaction in Germany — the euro zone’s most important country — was negative" http://www.nytimes.com/2012/09/08/business/global/daily-euro-zone-watch.html?ref=europe
Unemployment is still trending up, with Greece at 24.4% in June and Spain at 25.1%, higher than many more recent members of the EU like Slovakia at 13.3 %, and Poland at 12.3%. (from http://247wallst.com/2012/09/07/nations-with-the-highest-unemployment-rates/2/)
The New York Times website "Tracking Europe's Debt Crisis" has the latest: http://www.nytimes.com/interactive/business/global/european-debt-crisis-tracker.html?ref=global
Also a link to a graphic display for "Understanding the European Crisis Now"
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