Tag: Euro zone

• Friday, July 28th 2023 - 09:51 UTC

  Euro zone raises benchmark interest rate to 4,25% for the ninth time running

  

  The European Central Bank on Thursday increased the key interest rate in the Eurozone by 0.25 percentage points to 4.25%. The decision to hike rates for a ninth straight time is part of the ongoing campaign to bring down inflation, but as inflation pressures show tentative signs of easing, recession worries mount.

• Saturday, April 13th 2019 - 07:09 UTC

  France calls for more Euro solidarity, otherwise the EU project is “unsustainable”

  

  Widening differences over economic policy among Euro area countries are “unsustainable” and could undermine the currency union itself, French Finance Minister Bruno Le Maire said on Friday.“There isn't enough solidarity in the Euro-zone,” Le Maire told reporters on the sidelines of the International Monetary Fund and World Bank Spring meetings.

• Wednesday, October 17th 2018 - 08:52 UTC

  Another headache for the EU: Italy and its populist budget

  

  Italy's government on Tuesday pushed the country closer to a showdown with the European Union after submitting its latest budget for review. The budget proposes increases both Italy's overall government debt and its deficit in the short run pushing the deficit as high as 2.4% of GDP over the coming years. This means Italy will fall foul of a previously mandated maximum deficit level of 0.8% of GDP.

• Thursday, February 15th 2018 - 09:37 UTC

  For the first time in seven years, Euro-zone economy grew faster than UK in 2017

  

  For the first time in seven years, the Euro-zone's economy grew quicker than the UK's last year, according to data from Eurostat released on Wednesday. The preliminary growth estimates for the final quarter of 2017 showed the bloc of Euro nations growing at a combined 2.7% over the course of the year, having expanded 0.6% in the final quarter alone.

• Wednesday, March 2nd 2016 - 08:09 UTC

  Labour leader Corbyn contracts as advisor the “erratic Marxist” Varoufakis

  

  Yanis Varoufakis, the self-described “erratic Marxist” who took Greece to the brink of a Euro zone exit by battling creditors over the conditions for a bailout, has got a new role: advising Britain’s opposition Labour Party.

• Wednesday, November 26th 2014 - 10:30 UTC

  OECD warns about Euro zone 'prolonged' stagnation with global impact

  

  Global economic growth in the coming two years is facing difficulties because of problems of recession in Japan and stagnation in the European economies and prospects for healthy growth “are stuck in low gear,” the Organization for Economic Cooperation and Development said on Tuesday.

• Monday, August 11th 2014 - 22:19 UTC

  Leading economies showing overall steady growth trend, says OECD

  

  Leading economies are showing a steady growth trend overall, although Britain is doing particularly well and Japan and Germany are showing signs of losing pace, the OECD (Organization for Economic Cooperation and Development) said on Monday.

• Saturday, August 9th 2014 - 06:33 UTC

  Bank of England inflation forecast, next week could give an idea on future hike

  

  The Bank of England opted this week to keep its main interest rate at a record-low level of 0.50% against a backdrop of solid British economic growth. The central bank's nine-member monetary policy committee decided also to maintain the level of cash stimulus in the economy at £375 billion, it said in a statement.

• Tuesday, October 9th 2012 - 21:07 UTC

  World Bank further lowers China’s growth prospect as Euro zone and US falter

  

  World Bank has lowered its growth forecast for China citing weak demand for its exports and lower investment growth. The bank said it expects China's economy to grow by 7.7% this year, down from its projection of 8.2% in May.

• Monday, October 8th 2012 - 06:15 UTC

  Sunday of protests against austerity measures in cities across Spain

  

  Thousands of Spaniards on Sunday marched in cities across the country to decry tough austerity measures, part of a growing protest movement that shows no signs of abating and could culminate in a general strike in November.