Euro zone, IMF to press Greece for foreign agency to sell assets

BRUSSELS: Greece's international lenders will press Athens next month to transfer state-owned real estate to a holding company managed by the euro zone to spur flagging privatisation efforts, officials said on Thursday.

We Are All Europeans Now

Alexander Mirtchev, Contributor

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The broadening cracks in the European economic framework now appear to be undermining the whole European structure, as if a ‘contagion’ is spreading from the Southern European economies outwards.

Italy must still meet targets after scrapping property tax, says Rehn

(Reuters) - European authorities will want to ensure Italy can still meet its fiscal commitments after scrapping a property tax, the European Commission's top economic official said on Thursday.

Greece eyes fresh aid, but wary of more austerity

Stuck in its debt crisis but confident of progress made after two major bailouts, recession-mired Greece is unsure of what an inevitable third package will look like.

Euro-Area Economic Confidence Seen Up to 17-Month High

Economic confidence in the euro area probably rose to the highest level in 17 months in August, adding to signs that the currency bloc’s recovery from a record-long recession is gathering pace.

Poland’s Outlook Cut to Stable at Fitch on Wider Budget Deficit

Poland had its rating outlook reduced to stable from positive at Fitch Ratings, which cited the country’s reduced fiscal credibility.

Bank of England's rate guidance aims to boost confidence: Charlie Bean

LONDON: The Bank of England's decision to provide explicit guidance on the path of interest rates was motivated by the desire to give consumers and firms more confidence to spend, deputy governor Charlie Bean said on Saturday.

Greek bailout talk inserts euro crisis into German vote, gives Merkel opponents ammunition

BERLIN – Chancellor Angela Merkel's opponents are assailing her credibility after her finance minister said Greece will need a third bailout package — injecting Europe's debt crisis for the first time into the campaign for next month's German elections.

Former ECB policymaker says euro zone crisis may flare up again

NICOSIA: A former senior ECB policymaker on Friday said the euro zone's debt crisis was far from over, and that a messy bailout for Cyprus had taken the island backwards by at least a generation.

Portugal raises $1.34 billion amid recovery hopes

LISBON, Portugal (AP) — Portugal raised 1 billion euros ($1.34 billion) in an auction of short-term debt Wednesday amid signs the country's deep recession has bottomed out, though investors remain wary of the political and economic risks of planned new austerity measures.

Key Euribor rate steady as ECB rate cut hopes dim

(Reuters) - The key Euribor bank-to-bank lending rate held steady on Monday as expectations of an ECB interest rate cut faded after data last week showed the euro zone exited recession in the second quarter.

Economy Is a Casualty in Germany's 'Noncampaign'

BERLIN — Germans sleep better, Bismarck once said, when they don’t know how sausages and laws are made. A century and a half later, Chancellor Angela Merkel seems to be modeling an election campaign on the musings of Bismarck, the “Iron Chancellor.”

France, Germany call for immediate end to Egyptian clashes

BRUSSELS, Aug. 16 (UPI) -- The leaders of France and Germany on Friday called for an immediate end to the violence in Egypt and a return to dialogue between the opposing sides.

Eurozone inflation flat, trade surplus higher: Eurostat

BRUSSELS: Inflation in the 17-nation eurozone was flat in July at an annual rate of 1.6 per cent, official data showed on Friday.

Euro Zone Returns to Growth

The euro-zone economy emerged more strongly than expected from its longest postwar contraction in the three months to June, but a resolution to its banking and fiscal crises remains a distant prospect.

German economy grows by 0.7 per cent in second quarter

BERLIN: The German economy, Europe's biggest, gained steam following a weak start into the year, growing by 0.7 per cent in the April-June quarter compared with the previous three-month period, the country's Federal Statistics Office said on Wednesday.

UK inflation rate falls to 2.8% in July

The rate of consumer prices index (CPI) inflation fell to 2.8% in July, down from 2.9% in June, according to the Office for National Statistics (ONS).

Euro zone could well be out of red but full recovery may take longer

The euro-area economy probably edged back to growth last quarter for the first time since 2011, ending the longest recession since the single currency union started 14 years ago.

Victims of Greek bail-out get chance of class action

Aggrieved investors who lost tens of billions of euros in Greece’s bail-out are being given the chance to bring class actions in America and Europe after a landmark deal between two US law firms.

High yield investors turn to Europe as US returns go south

LONDON: High yield investors once viewed Europe as a distraction from the developed US market, but are now scrambling to increase their exposure to the region in light of recent outperformance coupled with a less generous approach to equity investors.

UK trade deficit shrinks more than expected in June

LONDON: The deficit in Britain's trade in goods narrowed more than expected in June to its lowest level in nearly a year as exports picked up, giving a boost to hopes for a broader economic recovery.

Steinbrueck Says Merkel Misleading Voters on Euro Debt Crisis

German chancellor candidate Peer Steinbrueck criticized Angela Merkel for misleading voters over the true cost of the European debt crisis, saying he’ll be upfront about the policy decisions needed after fall elections.

Euro-Zone Business Activity Grows for First Time Since Jan 2012

Activity among businesses in the euro zone grew modestly in July for the first time in a year and a half, adding to evidence the crisis-hit economy is stabilizing after a long recession.

Eurozone officially enters recession

The eurozone is now officially in recession, mainly due to a slump in Germany, Europe's biggest economy, and Italy, while France has narrowly escaped the same fate.

Europe's 'downgrade diary' flags up new market pressures

LONDON: New European rules requiring credit agencies to announce their rating decisions to a pre-set timetable are likely expose the region's shaky sovereign borrowers to more bursts of market pressure. But they may also have an impact further afield.

A stable euro is good news for all

DALLAS (MarketWatch) — A year ago, European Central Bank chief Mario Draghi promised to “do whatever it takes” to save the euro.

IMF warns of tough Spain jobs outlook

MADRID: The IMF told Spain on Friday it faces five more years with an unemployment rate topping 25 percent as it pressed Madrid to enact new reforms including measures to help firms slash wages instead of axing staff.

Italian, Spanish Bonds Rise Third Week as Economic Data Improves

Italian and Spanish government bonds advanced for a third week after reports showed factory output in the euro area expanded for the first time in two years and the number of people unemployed in Germany declined.

Euro Rises to Near One-Month High Against Dollar Ahead of FOMC

The euro on Wednesday strengthened against the dollar as traders prepared for the possibility that the Federal Reserve will flag weak U.S. economic data.

Irish unemployment rate dips to 13.5%: Official data

DUBLIN: Ireland's unemployment rate retreated last month to the lowest level since April 2010, official data showed on Wednesday.