Noonan Says Greece Should Seek Irish-Style Solution to Debt Woe

(Bloomberg) -- Irish Finance Minister Michael Noonan said Greece should seek to reduce interest rates on its debts and push for later repayment dates rather than the “nuclear” options of leaving the euro area and writing off loans.

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.

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).

Irish finance minister says new EU calculation could add over 1 percent to GDP

(Reuters) - New EU rules on calculating economic output could boost Ireland's gross domestic product by over 1 percent and mean a little less austerity next year, Finance Minister Michael Noonan said on Wednesday.

Spain's budget to focus on nascent recovery, reforms

MADRID (Reuters) - Spain will boost economic and job forecasts in the 2014 budget to be presented on Friday, moving away from tough spending cuts and relying instead on lower borrowing costs and momentum from previous reforms to achieve fiscal targets.

ECB's Asmussen says Ireland should stick to austerity target

DUBLIN (Reuters) - Ireland should not ease up on austerity in its annual budget next month but stick to a target of 3.1 billion euros ($4.2 billion) worth of spending cuts and tax hikes, European Central Bank Executive Board member Joerg Asmussen said on Saturday.

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.

Spain marks two years of contraction in second quarter

MADRID: Spain's two-year economic slump showed signs of coming to an end in the second quarter, data showed on Tuesday, but weak domestic demand and looming fresh austerity measures mean a sustained recovery may still be far off.

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.

Osborne faces limited budget options

LONDON (Reuters) - Chancellor George Osborne has limited options for pulling the economy out of its rut when he presents his fourth annual budget on March 20.

German Bunds Snap Drop on Jobs Data; French Yields Fall at Sale

Germany’s government bonds snapped a decline from yesterday after a government report showed the nation’s jobless total increased for a ninth month in December.

Fiscal cliff setback rattles global shares, euro

LONDON – Global stock markets weakened on Friday and both the euro and gold slipped, as a new setback in talks to avert a U.S. fiscal crisis and evidence of Europe's ongoing economic difficulties stoked investor nerves.

Greece bailout funds approved

Greece is to get the latest tranche of bailout funds needed to keep the country going, eurozone finance ministers have said.

Swiss Re sees 30% risk of Europe, U.S. recession in 2013

LONDON: There is a 30 percent chance of severe recession i n Europe and the United States next year, though moderately rising growth is the likeliest outcome, according to the world's No. 2 reinsurer.

Greece extends buyback offer to reach 30 billion-euro target

ATHENS/BRUSSELS (Reuters) - Greece extended its offer to buy back debt until Tuesday, seeking more bids from bondholders after falling short of a target to retire bonds worth 30 billion euros at a cost of just 10 billion euros.

Greece Pushes Through Last Minute Reforms

ATHENS--Greece used special powers to pass a law introducing reforms demanded by international creditors in exchange for the country's next aid tranche in time for Tuesday's Eurogroup meeting.

Eurozone falls back into recession

The eurozone has returned to recession as the region's debt crisis continues to hurt demand, figures show.

Angst returns on German recession fears and US fiscal cliff

Stock markets skidded across the world and investors retreated to safe-haven assets on fears that Europe’s festering crisis has spread to Germany and a bitterly-divided Washington may struggle to avert a fiscal crisis.

Greece recession and debt problems even worse

Greece's draft budget for 2013 has forecast a deeper recession and worse debt problems than previously thought.

Spain jobless rate hits new high in third quarter

About a quarter of working-age people in recession-hit Spain are unemployed, new figures have shown.