Tag: Eurozone

Saturday, December 12th 2015 - 04:18 UTC
“Mama Merkel” or Euro-zone “austerity priestess”, the German chancellor is Time's person of the year

Time magazine named German Chancellor Angela Merkel as its person of the year for 2015, hailing her leadership during debt and refugee crises that threatened to tear the European Union apart. In power for a decade at the helm of Europe's biggest economy, the world's most powerful woman beat runners-up, the leader of the Islamic State extremist group and Donald Trump as Time's dominant personality of the year.
Friday, November 6th 2015 - 08:23 UTC
Recovery at “a modest pace” in the EU and Euro-zone next year

The economic recovery within the European Union and the eurozone should continue at “a modest pace” next year, the EU has forecast. The economy of the 28-nation EU is set to grow by 1.9% this year, 2.0% in 2016 and by 2.1% the year after.
Monday, July 20th 2015 - 08:06 UTC
France calls for an 'Euro government” led by a 'vanguard of countries'

France favors a “stronger organization” behind the Euro led by “a vanguard of countries”, French President Francois Hollande said in an interview published Sunday. In the past week “the European spirit prevailed” in addressing the Greek crisis, he told the weekly Journal du Dimanche.
Thursday, July 9th 2015 - 06:10 UTC
Greek banks to remain closed until next Monday as ECB caps funding

The European Central Bank capped the amount of emergency funding it is providing to the Greek banking sector at €88.6 billion on Wednesday, in a sign that the central bank is awaiting the outcome of this weekend’s crunch talks on Greece before deciding whether to extend a further financial lifeline to the indebted country.
Wednesday, July 8th 2015 - 08:12 UTC
Grexit Day next Sunday, Euro Zone members warn Tsipras

Euro zone members announced on Tuesday that they have given Greece until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe's currency bloc and into economic ruin.
Monday, June 29th 2015 - 06:20 UTC
Greek banks closed and Tsipras takes the dispute with ECB and IMF to the brink

Greek banks are to remain closed and capital controls will be imposed, Prime Minister Alexis Tsipras announced. Speaking after the European Central Bank (ECB) said it was not increasing emergency funding to Greek banks, Tsipras underlined Greek deposits were safe.
Wednesday, May 13th 2015 - 07:00 UTC
Cameron puts pressure on Europe for major changes and revamped links

Prime Minister David Cameron will hold an early referendum on membership of the European Union if he can first reach a deal that satisfies his demands for major changes in Britain's relationship with the bloc, his spokesman said yesterday.
Friday, May 1st 2015 - 06:22 UTC
Euro zone scrapes out of deflation in April; unemployment remains above 11%

Consumer prices in the Euro zone scraped out of deflation in April after four months, official data has shown, boosting hopes of economic recovery in Europe. The inflation rate in the 19 nations that use the Euro stood at 0% in April, up from a rate of -0.1% in March. Eurostat said that low energy costs were continuing to cut living costs.
Friday, March 6th 2015 - 18:25 UTC
ECB stimuli bond-purchase to begin next Monday, announces Dragui

Following a meeting of the European Central Bank's rate-setting Governing Council in Cyprus on Thursday, ECB president Mario Draghi said the bank would start buying sovereign bonds from Euro zone countries on Monday next week.
Friday, February 20th 2015 - 05:00 UTC
Negative inflation in France adds to Euro-zone stagnation and deflation fears

Inflation in France, the Euro zone's second-biggest economy, was negative in January for the first time in more than five years, the national statistics agency said on Thursday.Prices declined by 0.4% in January compared to the same month last year, INSEE said, noting that France has not seen negative inflation since October 2009.