Euro Zone Set to Keep Shrinking

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.