Tag: Eurozone

• Monday, June 4th 2012 - 03:40 UTC

  Berlin conditions Euro area bonds to an EU fiscal authority to control budgets

  

  When former European Central Bank Jean-Claude Trichet called last June for the creation of a European finance ministry with power over national budgets the idea seemed fanciful, a distant dream that would take years or even decades to realize, if it ever came to be.

• Saturday, June 2nd 2012 - 03:22 UTC

  Argentine experts on alert in Athens to help with bail-out if Greece exits the Euro

  

  American International Group Inc (AIG) has assigned staff from Argentina to advise their counterparts in Athens as the bailed-out insurer prepares for a possible Greek exit from the Euro.

• Saturday, June 2nd 2012 - 02:49 UTC

  Euro zone unemployment hits a new record low: 17.4 million out of work

  

  Euro zone unemployment has hit a record high, and job losses are likely to keep climbing as the bloc's devastating debt crisis eats away at businesses' ability to hire workers while indebted governments continue to cut staff.

• Tuesday, May 22nd 2012 - 03:11 UTC

  Banker launches another challenging controversial book with Germany as the “Euro-zone hostage”

  

  Former German central banker Thilo Sarrazin, whose musings on Muslim immigrants sparked outrage in 2010 has triggered fresh controversy with a book that paints Germany as the Euro zone's hostage, forced to pay out vast sums to atone for the Holocaust.

• Tuesday, May 15th 2012 - 16:08 UTC

  Greek exit from the Euro could cost French taxpayers 66.4bn Euros, says report

  

  An exit of Greece from the Euro zone could cost the French taxpayer up to 66.4 billion Euros and saddle the country's banking system with 20 billion Euros in lost loans, according to a study published on Tuesday.

• Tuesday, May 15th 2012 - 15:53 UTC

  Economy receives Hollande with anaemic performance: zero growth in Q1

  

  France's economy stalled in the first quarter as household consumption flat lined, businesses pared back investment and exports slowed, underlining the challenge facing Socialist President Francois Hollande who took office on Tuesday.

• Monday, May 14th 2012 - 05:34 UTC

  EC brighter outlook for 2013: UK expands 1.7% and Euro zone 1.3%

  

  The slow economic recovery is in sight across Europe, the European Commission said on Saturday, with the UK in line for 1.7% growth next year compared with an EU average of 1.3%.

• Friday, May 11th 2012 - 13:10 UTC

  Irish experience advice on how to rid banks of toxic real estate assets

  

  Spain’s plan to rid banks of toxic real estate assets is reviving the politically heated debate over how creditors and taxpayers should share the vast losses still being incurred by the Euro zone debt crisis. Nowhere is the issue in sharper relief than in Ireland.

• Thursday, May 10th 2012 - 05:28 UTC

  Spain takes over fourth largest bank to try and calm markets

  

  Spain took over Bankia, the country's fourth biggest lender, on Wednesday, trying to dispel concerns over the government's ability to clean up the financial sector four years after the banks were hit by a property market crash.

• Friday, May 4th 2012 - 00:36 UTC

  ECB calls on governments to put “growth at the centre of the agenda”

  

  The European Central Bank, meeting in Spain on Thursday, held interest rates at historic lows but insisted it was up to governments to find ways of boosting growth without busting fiscal rules.