Italy economy to shrink 1.4% in 2013, figures forecast

Italy's economy will shrink by 1.4% this year, a much sharper contraction than previously forecast, according to the national statistic agency.

Eurozone crisis deepens as German 'sado-monetarists' refuse to back QE

The countries of the eurozone are running into austerity fatigue and no wonder, with unemployment at catastrophic levels, except in Germany.What scope is there to take action to boost the economy?

Europe Warns of Harder Economic Times to Come

BRUSSELS — A deteriorating economy in the European Union is expected to drive unemployment to new highs this year in countries including Spain and Portugal that already are feeling acute pain, the Union’s top economics official warned on Friday.

EU sees deeper recession in gloomy outlook

BRUSSELS: Recession in the crisis-hit eurozone will be deeper than expected for the rest of the year, hitting even Europe's biggest economies and leaving unemployment at record levels, the EU warned Friday.

Euro Drops as Draghi Open to Negative Rates; Dollar Strengthens

The euro fell for the first time in five days against the dollar after European Central Bank President Mario Draghi said policy makers may take the unprecedented step of charging banks to hold excess reserves.