Debt forgiveness could ease eurozone woes

The eurozone debt crisis never went away. It merely acquired a misleading veneer of resolution thanks to grand promises, political chest-thumping and frazzled financial markets that were desperate to believe in happily ever after.

Germany should drive economic recovery in Europe, IMF chief says

Geneva (AFP) - IMF chief Christine Lagarde wants Germany to play a bigger role in propelling economic recovery in Europe, she hinted in an interview broadcast on Monday, suggesting that German wages should rise.

Crisis-hit Portugal sees record tourism numbers in 2013

Bailed-out Portugal welcomed a record number of tourists in 2013, official data showed on Thursday, providing a much-needed boost to the crisis-hit economy.

France and Germany rebuild ties but EU waits for old axis

Brussels (AFP) - With France and Germany apparently patching up their economic differences, their decades-old axis could retake its place at the heart of Europe, but analysts are waiting for actions to back up the rhetoric.

Euro crisis: Why a Cyprus bailout must be seen as 'fair'

As Europe tackles its latest euro crisis, a Cyprus bailout deal must follow the path of being perceived as 'fair.' A tax on small-time savers isn't seen that way.

Economic data shows eurozone steadier, still weak

FRANKFURT: The euro area's economy is making faltering progress toward recovery, as the latest round of figures Wednesday showed improving consumer optimism and steadier bank finances - but weak demand for loans from businesses.

Spain and Italy ban short selling

Securities regulators in Spain and Italy both instituted short-selling bans Monday as financial markets tumbled.

Crisis clouds gather over German economy

FRANKFURT: Exports and consumer demand are cushioning Germany against recession, data showed on Thursday, but crisis clouds are gathering over Europe's biggest economy as business confidence falls sharply.

Spain forces banks to set aside €30bn

Madrid, Spain (TOE) - The Spanish government has announced a new set of financial reforms, particularly aimed at cleaning up country's banking system infested with bad loans.

UK double-dip recession to drag on into summer, economists warn

Britain's collapse back into recession will drag on until June at the earliest and condemn the country to another lost year, economists have warned.

Spain 'headed towards' 2013 financial crunch

Spain, sucked back into the centre of the eurozone debt crisis, is headed towards a financial crunch in 2013 that may force it to seek international help, analysts warn.

2012 will be a worse year for equities than 2011: Jim Walker

MUMBAI: Warning that negative signs persist in the global economy, Jim Walker, Founder of Asianomics on Tuesday said that he could see a re-run of the beginning of 2008 financial crisis.

Global economic crisis hits China's exporters

Wedding dress maker Wang Lujia earns a living making brides happy, but the global economic crisis is casting a chill over her small business in southern China.

Euro in Crisis 8% Stronger Than Average Since 1999 as Losses Seen for 2012

The euro, after falling to its weakest level against the dollar since January, is poised to depreciate further as traders lose confidence in the ability of European leaders to contain the region’s debt crisis.

German exporters shrug off crisis as shipments rise

German exports rose in August for the first time in three months.

Shipments grew 3.5% over the month, according to seasonally adjusted data from the Federal Statistics Office.

About 90.5bn euros ($122.9bn, £78.5bn) of goods were exported. Imports were unchanged at 76.7bn euros.

Merkel to hold talks on eurozone crisis

BRUSSELS — German leader Angela Merkel was to hold talks at the European Commission Wednesday amid efforts to contain the eurozone debt crisis, as markets reacted nervously to an EU plan to help troubled banks.

The talks come after two days of negotiations between EU finance ministers ended without a breakthrough and as Athens was again denied the next eight billion euro ($10.7 billion) tranche of bailout cash it needs to avoid default.

European stocks fall on Greek crisis

LONDON — European equities and the euro fell on Wednesday on fresh concerns over banks' exposure to indebted Greece, but losses were capped by expectations of more stimulus measures from the US Federal Reserve.

London's FTSE 100 index of leading shares slid 0.37 percent to 5,344.07 points in midday deals, Frankfurt's DAX 30 lost 0.98 percent to 5,517.05 points and in Paris the CAC 40 dropped 0.87 percent to 2,958.16.

George Osborne to make statement to MPs on economy

Chancellor George Osborne is to make a statement to MPs on Thursday about the economic situation.

Mr Osborne is taking advantage of the rare summer recall of Parliament, to outline the UK's view on the economy and to answer questions from MPs.

There have been heavy falls in stock markets over recent weeks and fears over some euro members' economies.

German consumer confidence slips on euro debt crisis worries

BERLIN — A new survey finds that German consumer confidence is slipping amid unease about the potential impact of the eurozone debt crisis.

The GfK research group said Tuesday its forward-looking confidence indicator for August stands at 5.4 points. It is down from 5.5 in July, a figure that GfK revised down from its initial forecast of 5.7.

German unemployment rate dips to 6.9 percent in June as economy booms

BERLIN — Germany’s unemployment rate dipped to 6.9 percent in June as the booming economy bolstered the country’s labor market further, official figures showed Thursday.

The unadjusted jobless rate was down from 7 percent in May, and the number of people registered as unemployed was 2.893 million — the lowest figure for June since 1992. The total was 67,000 lower than the previous month and down 255,000 from a year earlier.