Italian Senators dig in against Renzi's reform plans

(Reuters) - Italian Senators clashed furiously on Tuesday over Prime Minister Matteo Renzi's plan to strip the upper house of most of its powers as part of a wide-ranging package of reforms to Italy's system of government and economy.

Russia sanctions threaten to blow euro zone off course

(Reuters) - The knock to confidence from harsher European sanctions on Russia could spoil the euro zone's budding economic recovery even if it shrugs off the fallout on trade.

Germany to reject EU-Canada trade deal: Sueddeutsche newspaper

(Reuters) - Germany is to reject a multi-billion free trade deal between the European Union and Canada which is widely seen as a template for a bigger agreement with the United States, a leading German paper reported on Saturday.

IMF urges 'steady implementation' of Ukraine loan program

(Reuters) - The International Monetary Fund urged Ukraine's leaders on Friday to press forward with "steady implementation" of economic reforms agreed with the fund, a day after the prime minister tendered his resignation.

Eurogroup's Thomas Wieser sees euro zone reforms biting slowly

VIENNA: Reforms to cut public and private debt in euro zone countries could take up to a decade to have a sustainable effect on growth in the bloc, the head of the Eurogroup's working group told a newspaper.

UK economy back at pre-crisis level

The UK economy grew by 0.8% in second quarter of 2014, official figures show The figures, from the Office for National Statistics (ONS), show the economy is now 0.2% ahead of its pre-crisis peak, which was reached in the first quarter of 2008.

Euro zone business on solid footing in July but firms cut prices - PMI

(Reuters) - The euro zone's private sector expanded at the fastest rate in three months in July, although faster growth in new business was driven mainly by companies cutting prices again, surveys showed on Thursday.

Euro zone's debt rises in first quarter, set to peak this year

(Reuters) - Euro zone public debt rose to 93.9 percent of economic output in the first quarter of this year, approaching the peak it is expected to reach later in 2014, official data showed on Tuesday.

Europe Stocks Rally on Ukraine as Gold Drops; China Share

July 22 (Bloomberg) --European equities advanced with Russian stocks while gold and Treasuries slipped as the stand-off surrounding a downed passenger jet in Ukraine eased.

Ukraine crisis hits European shares; auto and leisure lag

LONDON, July 21 (Reuters) - European shares fell on Monday as fighting erupted in eastern Ukraine, the first major eruption of violence there since a Malaysian airliner was shot down last week.

French economy minister blames the EU for the lack of growth, seeks new economic strategy

PARIS – France's economy minister is blaming European authorities for the lack of growth in France and Europe, and says it's time for a new economic policy that shuns austerity measures.

Pound Advances Versus Euro With Inflation Gap Most Since October

The pound gained versus the euro this week as reports strengthened speculation that the U.K. economy is recovering fast enough to withstand tighter monetary policy while other European economies require more stimulus.

Schaeuble says EU must focus on competitiveness, not exchange rate

(Reuters) - Europe must focus on improving the competitiveness of its economy rather than the exchange rate, German Finance Minister Wolfgang Schaeuble said on Friday, brushing aside French calls for EU action to weaken the euro.

Signs of turnaround in international use of euro: ECB

Frankfurt (AFP) - The eurozone attracted more foreign investment in 2013 than in 2012, but the euro's share of foreign exchange reserves and its role in international financing declined slightly, the European Central Bank said on Wednesday.

European Stocks Climb on Chinese Economic Growth Report

European stocks advanced, rebounding from yesterday’s decline, as a report showed China’s economy expanded in line with the government’s target. U.S. index futures and Asian shares were little changed.

BES slide, tumbling German sentiment hit markets

(Reuters) - European stocks and the euro fell on Tuesday after shares in Portugal's biggest listed bank hit a record low, while a plunge in German economic sentiment pushed up borrowing costs for some peripheral euro zone countries.

IMF warns further shocks would stall euro zone recovery

BRUSSELS (Reuters) - Any new shocks could halt the euro zone's economic recovery, spoil improving market sentiment and eventually tip the region into deflation, the International Monetary Fund warned on Monday.

BRICS bank to defy Western clout in global finances

(Reuters) - Leaders of the BRICS emerging market nations meet next week to launch a development bank and emergency reserves fund, an ambitious challenge to Western-run multilaterals that have shaped global finances since the end of World War Two.

UK construction shrinks in May, dampens some second quarter growth hopes

(Reuters) - British construction output suffered a steep fall in May, raising the prospect that overall economic growth may fall short of expectations in the second quarter.

Faltering Germany casts cloud over fragile euro zone

(Reuters) - Germany's faltering economy has cast further doubt over the euro zone's prospects for recovery this year, with no other big country strong enough to pick up the slack. Since late last year, the 18 countries using the euro have been climbing steadily out of a two-year recession.

ECB’s Draghi calls for rules on economic reforms

European Central Bank President Mario Draghi on Wednesday called for a new set of rules for euro-zone members that would apply to economic reforms and be analogous to the standards that govern borrowing by governments.

Monthly house prices for June drop 0.6%, Halifax reports

House prices experienced a bigger monthly fall than analysts had expected in June, knocking £1,100 off the average property value, according to the Halifax.

Italy hits resistance to softer European spending rules

(Reuters) - Italy and its allies will receive no special leeway in meeting EU budget rules, European officials agreed on Tuesday, as Germany resisted attempts to soft-pedal on long-promised spending reforms.

Euro zone Sentix index shows surprise rise in July

(Reuters) - Sentiment in the euro zone showed a surprise improvement in July with investor optimism boosted by the European Central Bank's growth measures and improved expectations for the global economy, according to the Sentix index survey.

IMF chief hints at cut in growth forecasts

Global economic activity should strengthen in the second half of the year and accelerate in 2015, although momentum could be weaker than expected, Christine Lagarde, head of the International Monetary Fund, said on Sunday, hinting at a slight cut in the fund's growth forecasts.

Portugal Aid Balk Highlights Crisis Tools Built for Show

German Finance Minister Wolfgang Schaeuble says the euro area’s firewall isn’t there to be used. Portugal has taken the hint.

Irish GDP revision eases debt target

Research and development (R&D) costs and illegal activities have been added into Ireland's GDP for the first time, enlarging the economy by 10bn euros ($13.6bn; £7.9bn).

Is Europe's troubled union really ready to change?

BRUSSELS (Reuters) - After six decades of relentless if incremental integration, might the European Union be about to go into reverse?

Renzi Says Italy to Push for European Growth Not Ask for Handout

Italian Prime Minister Matteo Renzi said his nation will use the next six months to push for growth across Europe, not to seek leeway for its own benefit.

Eurozone unemployment level sees slight fall

The number of people unemployed in the eurozone dipped slightly in May, but not by enough to dent the unemployment rate.

Euro-Area Inflation Steady at 0.5% Shows Draghi Challenge

The euro-area inflation rate held steady in June at less than half the European Central Bank’s target, underscoring the challenge faced by Mario Draghi as he tries to stoke prices and ignite growth.