Tag: Eurozone

• Monday, October 31st 2011 - 20:16 UTC

  Over 23 million Europeans unemployed; inflation reaches 3% in October

  

  Over 23 million are unemployed in the 27 countries of the Euro zone, the statistical office of the European Union Eurostat informed Monday.

• Friday, October 28th 2011 - 04:39 UTC

  Sarkozy said Greece should have not joined the Euro in 2001: “it was not ready”

  

  French President Nicolas Sarkozy has said allowing Greece into the Euro zone in 2001 was a “mistake”. He said Greece was “not ready” at the time, but he added, it could be rescued thanks to Wednesday's EU deal on the euro debt crisis

• Monday, October 24th 2011 - 06:31 UTC

  Sarkozy to Cameron: “you hate the Euro so stop telling us what to do”

  

  French President Nicolas Sarkozy launched a scathing attack on British Prime Minister David Cameron at Sunday's EU summit, saying he was “sick of him telling us what to do,” Britain's press reported.

• Monday, October 17th 2011 - 06:45 UTC

  ECB president Trichet calls for deep changes in the EU treaty

  

  European Central Bank President Jean-Claude Trichet said the European Union's treaty should be changed to prevent one member state from destabilizing the rest of the bloc, and urged stronger governance of the Euro zone.

• Saturday, October 15th 2011 - 04:23 UTC

  Merkel hits back at critics, insists on regulation of financial markets

  

  German Chancellor Angela Merkel hit back at critics of her Euro zone policy saying it was unacceptable for them to demand bolder action to combat the debt crisis while at the same time resisting steps to rein in financial markets.

• Thursday, October 13th 2011 - 23:41 UTC

  IMF says China can partially offset the impact of a global crisis

  

  China has the scope to respond if global economic risks materialize, and the country's response could partially but not entirely offset the impact of a global crisis, the International Monetary Fund's Asia and Pacific director said on Thursday.

• Monday, October 10th 2011 - 22:40 UTC

  Markets react positively to Merkel/Sarkozy promise of Euro zone plan

  

  Stocks rose sharply in Europe and in the US on Monday as investor sentiment were buoyed by a renewed pledge by France and Germany to come up with a plan to tackle the Euro zone debt crisis by month's end. International pressure has been building for bold steps from Europe to avert a global economic backlash.

• Sunday, October 9th 2011 - 09:50 UTC

  With time running out Berlin/Paris summit to agree on Euro banks’ recapitalization

  

  European banks may need more than 100 billion Euros to withstand the sovereign debt crisis, Ireland estimated, ahead of a meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy to work out how to recapitalise the lenders.

• Sunday, October 9th 2011 - 07:23 UTC

  World Bank calls on Germany to take stronger political leadership in Euro crisis

  

  The World Bank has called on Germany to take a stronger political leadership role in Europe in order to end the Euro zone debt crisis.

• Tuesday, October 4th 2011 - 19:55 UTC

  Euro banks holders of Greek debt told to prepare for a further ‘shave’

  

  European finance ministers are considering making banks take bigger losses on Greek debt and have postponed a vital aid payment to Athens until mid-November, setting up a crunch point in the Euro zone's sovereign debt crisis.