Tag: Eurozone

• Monday, October 22nd 2012 - 03:04 UTC

  Landslides for Rajoy in Galicia but Basques raise the question of ‘independence’

  

  Spanish Prime Minister Mariano Rajoy conservative Popular Party on Sunday retained power in his home region of Galicia despite recession and biting austerity measures, official results showed.

• Thursday, October 11th 2012 - 23:28 UTC

  IMF asks for “a bit more time” for Greece and Spain but Germany says it will affect confidence

  

  The IMF on Thursday backed giving debt-burdened Greece and Spain more time to reduce their budget deficits, cautioning that cutting too far, too fast would do more harm than good.

• Tuesday, September 25th 2012 - 08:15 UTC

  IMF to cut global growth forecast because of Euro crisis and US ‘fiscal cliff’

  

  The International Monetary Fund is set to cut its forecast for global growth next month when it updates its projections for the world economy, the head of the IMF said.

• Monday, September 24th 2012 - 19:56 UTC

  German fears of recession as business climate index drops for fifth month running

  

  German business sentiment dropped for a fifth straight month in September to its lowest since early 2010, raising fears of recession and underlining that a bold bond-buying plan laid out by the European Central Bank is no economic blessing.

• Wednesday, September 19th 2012 - 21:15 UTC

  Don’t wait for the end of the EU crisis: boost trade among emerging economies, recommends Brazil

  

  Brazilian finance minister Guido Mantega said that resolving Europe’s economic problems are likely to drag out over coming years due to a complex and slow process of decision-making in the region and recommended emerging economies to promote domestic consumption and trade among them.

• Wednesday, September 12th 2012 - 01:41 UTC

  Euro-Rescue-Day: German constitutional court rules on support for the EU currency

  

  Germany's Constitutional Court rejected on Tuesday an attempt to further delay a ruling on the European Stability Mechanism (ESM) and fiscal compact, which had previously been pushed back by months while the judges reviewed whether the German parliament is permitted under the constitution to ratify the treaties.

• Saturday, September 8th 2012 - 06:31 UTC

  Merkel supports ECB debt-plan despite strong protests and threats in Germany

  

  Chancellor Angela Merkel defended the European Central Bank on Friday after its plan to buy the debt of troubled Euro zone states stirred outrage in Germany and threats from some in her own party to try and block the scheme.

• Friday, September 7th 2012 - 02:55 UTC

  OECD warns recession is “taking hold” of Euro zone including largest economies

  

  Europe's debt crisis is pushing the 17-country Euro-zone toward recession and dragging down the global economy, the Organization for Economic Cooperation and Development said in a report.

• Tuesday, September 4th 2012 - 01:17 UTC

  Since 2003 an estimated 261bn dollars have fled from Greece, says NGO

  

  Greek nationals have deposited overseas an estimate 261 billion dollars from illegal activities, from tax evasion and elusion to criminal actions or simple from rampant corruption, according to economist and head of the Non Government Organization, Global Financial Integrity, Raymond Baker.

• Tuesday, September 4th 2012 - 00:31 UTC

  Poll shows Germans want Greece out of the Euro; doubts about reforms’ implementation

  

  Only about a quarter of ordinary Germans are in favor of debt-stricken Greece remaining in the Euro area, a poll published by the Financial Times on Monday indicated. It revealed strong reluctance to grant Greece yet another bailout installment.