Italians have put up valuables as collateral for loans for centuries, through plagues and sieges. Today they do it as part of the formal banking system. And business is booming.
Tag: Credit and Debt
A €750 Billion Coronavirus Recovery Plan Thrusts Europe Into a New Frontier
Adopting the proposal would make history for the bloc, vesting authority in Brussels in ways that more closely resembled a central government.
A €750 Billion Virus Recovery Plan Thrusts Europe Into a New Frontier
The European Commission wants to issue bonds to raise the funds, taking a step closer to a shared budget potentially paid for through common taxes.
Argentina Tries to Escape Default as It Misses Bond Payment
Despite the missed payment, its creditors have agreed to extend negotiations on restructuring $66 billion in foreign debt.
E.U. Moves to Shore Up Economies Reeling From Virus
As the leaders of the European Union’s 27 countries approved a half-trillion euro bailout package Thursday night, their attention immediately turned to what to do next, where much disagreement remains.
Microloans, Seen as Salvation for Poor Women, Trap Many in Debt
In Jordan, an unregulated microloan industry offers easy money. But with no way to repay loans, many women end up buried in debt, or in prison.
As Europe Confronts the Coronavirus, What Shape Will Solidarity Take?
Contentious talks over how to help economies decimated by the virus have become a pivotal political moment for the world’s richest bloc of nations.
Young Adults, Burdened With Debt, Are Now Facing an Economic Crisis
Young people who entered this financial downturn with fewer resources than previous generations are enduring pain.
Lebanon Will Default on Foreign Debt Payment Amid Deepening Economic Crisis
The decision will appease protesters who have clamored for the government to prioritize domestic concerns. But it does little to solve the nation’s financial woes.
Will the Coronavirus Cause a Recession? Keep Your Eye on the Barbershops
The Fed reduced rates to keep the effects of the outbreak from spreading to sectors not directly affected by the virus.