Euro Still Vulnerable Despite Rising Against Dollar

The euro rose broadly on Monday, as euro zone banks repatriated foreign-held assets before year-end and after the European Central Bank chief said there was no urgent need to cut interest rates.

EU's Herman Van Rompuy sees European economic revival in 2014

BRUSSELS: European Council president Herman Van Rompuy on Sunday forecast an economic upswing for Europe in 2014 in an interview with a Flemish-speaking broascaster.

Euro hits two-year high as banks shore up balance sheets

LONDON, Dec 27 (Reuters) - The euro jumped to its strongest level against the dollar in more than two years on Friday as banks adjusted positions for the year end.

France jobless rise despite President Francois Hollande's vow to buck trend

PARIS: France's number of registered jobseekers rose by 17,800 in November to 3.29 million, the labour ministry said Thursday, challenging government claims to have bucked a trend of spiralling unemployment.

Euro Outlook For 2014 Looks Rosier as Central Bank Lends its Support

The Euro finished strongly into the end of the year, ringing in as a top-performing G10 currency in Q4 and for all of 2013. Many factors changed that initially had the Euro looking lower in 2013.

Fidelity to Amundi Seek Euro Shelter as Treasuries Swoon

Bond investors seeking to avoid the first successive losses on Treasuries in at least 35 years are finding shelter in Europe.

Euro needs ground-up reform before any United States of Europe

The European Union has earned its place as an instrument for peace in Europe. Free trade has brought prosperity to its peoples, and the freedom to choose a place of residence guards against the resurgence of totalitarian regimes.

Italian, Spanish bond yields rise on talk local banks may sell

LONDON, Dec 23 (Reuters) - Spanish and Italian bond yields rose on Monday amid speculation that banks in both countries may reduce their holdings before the European Central Bank reviews their balance sheets next year.

Recession-hit Spain holds huge Christmas lottery

MADRID (AP) — Champagne corks popped around Spain on Sunday as jubilant winners celebrated scooping up prizes in the country's famed Christmas lottery, the world's richest.

EU loses AAA rating in S&P downgrade

Credit rating agency Standard & Poor's incited the ire of European Union officials on Friday when it snatched away the region's top AAA rating, citing tensions between member states and a deterioration in their overall financial health.

EU Parliament head Martin Schulz warns of tough talks on banking union

BRUSSELS: European Parliament head Martin Schulz warned Thursday that EU leaders face "very long negotiations" with lawmakers over a new bank regulatory system which many of them believe falls well short of what it should be.

France on edge of return to recession, increasing pressure on Hollande

François Hollande's beleaguered socialist government was under increased pressure to boost the eurozone's second largest economy after a collapse in manufacturing orders tonight left it on the cusp of another recession.

Euro-Area Factory Output Expands Faster Than Forecast: Economy

Euro-area factory output grew at a faster pace than economists forecast in December, led by Germany, as the currency bloc continued its gradual recovery from a record-long recession.

Euro zone to share costs of bank closures gradually: Proposal

BRUSSELS: The cost of closing down a euro zone bank will initially be borne almost fully by its home country, but the obligations of euro zone partners will gradually rise to be shared equitably after 10 years, under the terms of an EU proposal seen by Reuters on Saturday.

In landmark for EU, Ireland leaves its bailout behind

DUBLIN, Dec 13 (Reuters) - Three years after going cap in hand to international lenders to avert bankruptcy, Ireland has officially ended its bailout in a landmark for the euro zone's efforts to resolve its debt crisis.

Euro zone employment shows no change in third quarter

BRUSSELS (Reuters) - The number of people with jobs in the euro zone was unchanged for the second consecutive quarter in the three months to September, showing the bloc's economic recovery has not yet filtered through to the labour market.

Eurozone industrial output in surprise slump

LONDON (AP) -- Industrial production across the 17 European Union countries that use the euro unexpectedly slumped in October, official figures showed Wednesday, in another sign that the region's recession is getting worse and weighing on big economies like Germany.

Euro coins a hit with Latvians ahead of eurozone entry

Riga (AFP) - Latvians queued up Tuesday to be among the first to get their hands on the euro coins that will replace the Baltic state's lats currency on January 1.

EU raps new member Croatia over deficit, debt

BRUSSELS: The European Commission said Tuesday new EU member Croatia is in breach of rules on the public deficit and debt and will have to take measures to remedy the problem.

Exclusive: Euro zone bailout fund should be allowed to help close failing banks - document

BRUSSELS (Reuters) - The euro zone's bailout fund should be allowed to lend to help finance the closure of banks in the bloc, a proposal prepared for euro zone finance ministers showed on Monday.

Expelling Silvio Berlusconi Won't Boost Italy's Stagnant Economy

On November 27th the Italian Senate expelled the three-time former Prime Minister Silvio Berlusconi, following his conviction for tax fraud, and in doing so deprived him of parliamentary immunity.

Greece passes 2014 budget

ATHENS, Greece (AP) — Greek lawmakers passed the government’s 2014 budget, which forecasts a return to growth after six consecutive years of deep recession, early Sunday.

Euro Hits December Highs as ECB Downplays Policy Pivot

The European Central Bank left its monetary policy firmly on hold today, offering a change in neither the key benchmark interest rate nor the deposit facility rate.

Spain borrowing costs fall after Moody's raises outlook

The Spanish Treasury sold 3.524 billion euros ($4.8 billion) in bonds of three and five years, with demand outstripping demand by a ratio of 2.7 to one, the central bank said.

Euro zone likely to backstop banks with promises rather than cash

BRUSSELS (Reuters) - Euro zone governments have set aside almost no money to make good on their promise to recapitalise ailing banks after a health check next year.

House building drives surge in UK construction activity

Britain's construction sector has enjoyed its strongest pick-up in business since before the financial crisis plunged the industry deep into recession, according to the latest in a string of upbeat economic reports.

Ukraine looks to China for money as debt crunch looms

(Reuters) - Ukrainian President Viktor Yanukovich will head to China on Tuesday looking for loans and investment, despite the massive protests unleashed by his decision not to sign a trade pact with the European Union.

Euro still at risk without closer union - Italy central bank head

MILAN (Reuters) - The European single currency will remain at risk if Europe is not able press ahead with closer political and economic union, the governor of the Bank of Italy said in an interview published on Sunday.

Euro zone has long way to go in climb out of crisis: ECB's Mersch

(Reuters) - The euro zone is early on its climb out of economic crisis but it is on the right track, ECB Executive Board member Yves Mersch said on Friday.