LONDON--An indicator that has correctly recorded contractions in the euro zone suggests the currency area's economy shrank for a seventh straight quarter in the three months to the end of June, extending its longest postwar slump.
June 30, 2013
June 29, 2013
Euro zone economic mood rises to 13-month high in June
BRUSSELS (Reuters) - Euro zone economic confidence improved by more than expected in June, rising to its highest level in a little over a year, a sign that Europe could be emerging from nearly three years of slump brought about by its debt and economic crisis.
June 28, 2013
UK double-dip recession revised away
The UK economy did not experience a double-dip recession at the beginning of 2012, official figures have shown.
June 27, 2013
Swiss government sees slight budget deficit in 2014
ZURICH: The Swiss government expects its budget to run a slight deficit in 2014 after parliament suspended planned savings measures, but sees a renewed balance over the next few years provided the global economy picks up.
June 26, 2013
Draghi defends ECB crisis measures
BERLIN (AP) -- European Central Bank head Mario Draghi again defended the ECB's bond-buying program Tuesday, saying the crisis backstop was more important now following recent market turbulence sparked by other central banks around the world.
June 25, 2013
Euro bonds move in unison; is that a good thing?
It’s tempting to take a glass-half-full reading of this week’ selloff in euro-zone bonds. After all, they have, for once, moved cohesively in the same direction.
June 24, 2013
EU's Barroso 'fuelling' far-right: French minister
(Reuters) - Outspoken French Industry Minister Arnaud Montebourg accused European Commission President Jose Manuel Barroso on Sunday of fueling far-right groups across Europe as France's National Front made gains in a parliament by-election.
June 23, 2013
Italy economy seen shrinking at slower pace in Q2: Central bank
ROME: Italy's economy is expected to contract at a slower pace in the second quarter of this year and could stabilise in the second half, the deputy director general of the Bank of Italy Fabio Panetta said on Friday, citing analyst forecasts.
June 21, 2013
Five U.K. Banks Must Raise Extra $21 Billion Capital
Five U.K. banks must find 13.4 billion pounds ($21 billion) to plug a 27.1 billion-pound capital shortfall by the end of the year, the Bank of England said.
June 20, 2013
Euro crisis needs a continental solution
WASHINGTON (MarketWatch) — Angela Merkel seems surer than ever to win her third term as German chancellor in September, Antonin Samaras survived as prime minister after a court blocked his effort to shut down Greece’s state-run broadcaster, and Enrico Letta finally produced a “budget-neutral” package of measures to boost the Italian economy.
June 18, 2013
Greece TV: Samaras in crisis talks with allies
The Greek Prime Minister, Antonis Samaras, is holding crisis talks with coalition allies over his decision to shut down the national broadcaster.
June 17, 2013
Britain tries to stem tax dodges ahead of G8 summit
LONDON: Britain turned up the pressure on other rich economies to clamp down on secretive money flows at a summit next week by pressing its overseas tax havens into a transparency deal and announcing new disclosure rules for British firms.
June 16, 2013
Euro-Zone Employment Falls to Lowest Level in 7 Years
A sharp fall in the number of people in work in the euro zone in the first quarter left employment at its lowest level in more than seven years, official data showed Friday.
June 15, 2013
G8 to say risks to economy lower, reforms needed: draft
LONDON (Reuters) - Leaders of the world's richest nations are likely to say next week that they are not content with progress so far in fixing their economies after the financial crisis.
June 14, 2013
UK banks fear cyber attack more than euro crisis: BoE's Haldane
LONDON (Reuters) - Worries over hacking and other cyber attacks has pushed aside the euro zone crisis as the top risk for Britain's banks and they must do more to protect themselves, a senior Bank of England official said on Wednesday.
June 13, 2013
Greece back in crisis mode on state TV shutdown, downgrade
ATHENS: Greece's fragile government faced an internal revolt and fierce public protest on Wednesday over the sudden closure of state broadcaster ERT, hours after the humiliation of seeing its bourse downgraded to emerging market status.
June 12, 2013
Euro zone industrial output shows surprise rise in April
BRUSSELS (Reuters) - Industrial output from euro zone factories defied market expectations of a month-on-month decline and rose in April, data showed on Wednesday, but the pace of expansion was slowed by a drop in production of energy and durable consumer goods.
June 11, 2013
Euro-Area Investor Confidence Rises as Recovery Seen This Year
Euro-area investor confidence rose in June on increased optimism that the economy will return to growth this year and turbulence in the sovereign debt crisis has been overcome for now, the Sentix research institute said.
June 10, 2013
Merkel Says Euro Nations Must Follow Germany’s Lead on Growth
Chancellor Angela Merkel said euro nations must follow Germany’s lead in tightening budgets and reshaping labor markets to return to growth as she seeks to stave off any crisis eruptions before elections in September.
June 09, 2013
Germany could expand small business loan scheme to EU strugglers
BERLIN: Portugal and Greece are interested in the same kind of support for lending to small business that Germany agreed with Spain this week, a spokeswoman for the German finance ministry said on Saturday, but they will need a state financing body to qualify.
June 08, 2013
Down So Long, It Looks Like Up to the Euro Zone
FRANKFURT — This is what passes for good economic news in Europe: Spain just added 265 jobs.“Clearly encouraging,” the nation’s prime minister, Mariano Rajoy, said of the development.
June 07, 2013
Eurozone to shrink 0.6% in 2013, grow 1.1% in 2014: ECB
FRANKFURT, GERMANY: European Central Bank President Mario Draghi has announced a cut in the bank's growth outlook for the 17 countries that use the euro currency.
June 06, 2013
IMF On Greece: We Screwed Up But It's Really The Eurozone's Fault
For Euro crisis enthusiasts, today’s IMF review of its Greek program is a real treat. By official standards, the document is thoroughly honest and clear.
June 05, 2013
IMF trims German 2013 growth forecast to 0.3 per cent
FRANKFURT: The International Monetary Fund lowered Monday its forecast for German growth this year, but predicted that Europe's biggest economy will experience a recovery in the second half of 2013.
June 04, 2013
Italy April Unemployment Rate Rises to New Record
ROME--Italy's unemployment rate hit an all-time high of 12% in April, official data from Istat showed Friday.
June 03, 2013
Euro to Rally as ECB Fails to Implement Negative Rates
The Euro was a top performer this week despite flashes of excessive volatility – the EURUSD saw prints close to $1.3100 and 1.2800 – as a slight uptick in data coupled with general anxiety over several of the single currency’s counterparts allowed gains to be found.
June 02, 2013
Eurozone unemployment rate hits record high
Unemployment in the eurozone touched a fresh high in April, fuelling fears that the deepening jobs crisis threatens the social fabric of the currency bloc.
June 01, 2013
Crisis states lead way as euro zone's economic mood brightens
BRUSSELS (Reuters) - Confidence in the euro zone economy grew by more than expected in May, with hope that the worst of the crisis may be over spreading to countries that have been on its frontline.
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