France's Hollande hits companies with 75 percent wealth tax

PARIS (Reuters) - French President Francois Hollande declared on Thursday that companies would have to pay a 75 percent tax on salaries over a million euros after his plan for a "super-tax" on individuals was knocked down by the constitutional court.

Euro zone corporate loan gain offers euro zone hope

FRANKFURT (Reuters) - Lending to euro zone businesses rose on the month in February for the first time since July, showing patchy and fragile gains that offer a glimmer of hope for the euro zone's crisis-hit economy.

U.K. Banks Seen Avoiding Share Sales After BOE Capital Review

U.K. banks including Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc (LLOY) may avoid the need to sell new shares to bolster their balance sheets after the Bank of England used more lenient rules than those advocated by European regulators.

Hollande's popularity at new low as he grapples with French economy: poll

PARIS (Reuters) - French President Francois Hollande's popularity rating has fallen to its lowest level since he came to power, a poll found on Wednesday, a day before he is due to address the nation to ask for patience as he attempts to revive the economy.

Croatia gets final thumbs up to join EU

BRUSSELS: Brussels deemed Croatia ready to become the 28th European Union member in July in a final report issued Tuesday stating that it complied with EU rules, though more work was needed to fight crime and corruption.

Sir Mervyn King: global crisis 'far from over'

The global crisis is "far from over" and countries can expect several "twists and turns" before the economy fully recovers, the Governor of the Bank of England has warned.

Cyprus Teeters on Brink as Euro Chiefs Battle Crisis

European governments battled to save Cyprus from financial ruin, seeking to prevent the woes of the euro area’s third-smallest economy from reviving the debt crisis and rattling markets.

French Economy to Stay Stalled in First Half, Insee Predicts

The French economy will extend two years of stagnation in the first half as consumers hold off on spending and companies cut investments, national statistics office Insee predicted.

Most Germans expect euro zone crisis to worsen: poll

BERLIN (Reuters) - Nearly two thirds of Germans expect the euro zone crisis to worsen and almost half fear for their savings, according to an opinion poll released on Friday, amid rising concerns that Cyprus may be forced to quit the common currency.

New Slovenia PM vows to help growth, jobs before parliament vote

LJUBLJANA (Reuters) - Slovenia's new prime minister, Alenka Bratusek, is determined to revive the country's economy and overhaul its crumbling banks to avoid an international bailout, she told parliament on Wednesday.

Euro crisis: Why a Cyprus bailout must be seen as 'fair'

As Europe tackles its latest euro crisis, a Cyprus bailout deal must follow the path of being perceived as 'fair.' A tax on small-time savers isn't seen that way.

Czech left's leader says "deadly cuts spiral" must end

OSTRAVA, Czech Republic (Reuters) - The Czech Republic's likely next prime minister says he plans to increase taxes on big firms and banks and put new emphasis on creating jobs to pull the economy out of a "deadly spiral".

Cyprus becomes fifth eurozone bailout

BRUSSELS: Eurozone finance ministers agreed early Saturday on a bailout for Cyprus, the fifth international rescue package in three years of the debt crisis.

Cameron's allies dismiss talk of leadership threat to PM

LONDON (Reuters) - Two senior members of Prime Minister David Cameron's ruling Conservative party spoke out to calm growing talk of a leadership challenge against him on Friday, days before a closely watched budget.

Greek fiscal targets are unrealistic: Bank group

ATHENS: Heavily-indebted Greece was set fiscal targets that were not achievable, in contrast to Ireland, which is emerging as a success story, a global bank lobby group said this week.

Germany agrees 'historic' balanced budget for 2014

BERLIN: The German government on Wednesday approved a draft budget for 2014 with the lowest deficit in 40 years, hailed by the economy minister as a "historic" step in the battle against debt.

Osborne faces limited budget options

LONDON (Reuters) - Chancellor George Osborne has limited options for pulling the economy out of its rut when he presents his fourth annual budget on March 20.

Spain hasn't seen unemployment this bad since Franco

Not since the days of Franco has Spain suffered such high unemployment rates. The country was virtually a feudal, agrarian economy the last time almost six million workers were unemployed.

Italy’s Rating Cut by Fitch as Election Threatens Gridlock

Italy’s credit rating was cut one level by Fitch Ratings as an inconclusive election in February produced political paralysis that threatens the country’s ability to respond to a recession and the European debt crisis.

Greece may still have to quit euro - Merkel ally

BERLIN (Reuters) - Greece remains the biggest risk for the euro zone despite a calming of its economic and political crisis and may still have to leave the common currency, a senior conservative ally of German Chancellor Angela Merkel said.

French central bank sees flat economy in first quarter

PARIS: France will barely dodge recession in the first quarter of the year, with the weak economy hurting the government's efforts to rein in the budget deficit, data showed on Friday.

Europe's recession deepens - ECB

The European Central Bank downgraded its forecast for the eurozone economy Thursday but decided against cutting interest rates to a new record low despite tame inflation, record unemployment and political instability in Italy.

French unions lead protests over labor deal

PARIS (Reuters) - Tens of thousands of protesters marched in towns across France on Tuesday against plans to allow companies to cut workers' hours during economic downturns - a policy central to President Francois Hollande's jobs and growth strategy.

Euro Leaders Demand Austerity as Italy Nears New Vote

European leaders demanded that euro members press on with budget cuts to end the debt crisis as Italy edged closer to a new election after an anti-austerity vote last week resulted in political deadlock.

Time to act again, Mr. Draghi?

Further European Central Bank action to jump start the eurozone economy: Let me get back to you.ECB President Mario Draghi says he's doing what he can.

Eurozone crisis to be over by September, predicts RBI Governor D Subbarao

NEW DELHI: If RBI Governor D Subbarao's prediction is anything to go by, the Eurozone crisis is likely to be over with expiry of his term in September this year.

Greece faces bailout review, plays down public sector job losses

(Reuters) - Officials from the European Union and the International Monetary Fund return to Athens on Sunday to assess Greece's performance under a bailout plan as the government plays down the prospect of public sector job cuts.

Euro-Area Unemployment Climbs to Record on Recession

The euro-area inflation rate fell below the European Central Bank’s 2 percent ceiling for the first time in more than two years and unemployment climbed to a record as the currency bloc remained mired in recession.

Eurozone crisis still choking credit demand: ECB

FRANKFURT: Bank lending to private households in the euro area remains weak as the long-running debt crisis continues to choke demand for credit, European Central Bank data showed on Wednesday.