Finance ministers and central bankers from the world’s largest economies said on Sunday that heightened trade and geopolitical tensions risk derailing global growth and called for greater dialogue, according to the final communique of a G20 meeting.
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.
Fourteen Caribbean countries are among 30 territories blacklisted by the European Union (EU) as the world’s worst tax havens. The list published by the EU on Wednesday includes Antigua and Barbuda, Bahamas, Barbados, Belize, Bermuda, Grenada, St. Vincent and the Grenadines, St. Kitts and Nevis, and the British Overseas Territories of Anguilla, Bermuda, British Virgin Islands, Cayman Islands, Montserrat, and the Turks and Caicos Islands.
After months of political wrangling over the appointment to the European Commission, Jean Claude Juncker and his team officially replaced his predecessor, Jose Manuel Barroso, and his Commission on Saturday. The first vice president, former Dutch Foreign Minister Frans Timmermans, is to serve as Juncker's right-hand man.
The incoming head of the European Commission, Jean-Claude Juncker, unveiled an EU executive team on Wednesday that handed key economic responsibilities to French and British commissioners but overseen by others in a new-look hierarchy.
President Francois Hollande's government will stick to planned economic reforms and spending cuts despite being punished in local elections where the anti-immigrant National Front (FN) made gains, the French finance minister said on Monday.
The Group of 20 nations declared there would be no 'currency war' and deferred plans to set new debt-cutting targets in an indication of concern about the fragile state of the world economy.
French President François Hollande called on the Euro zone on Tuesday to develop an exchange rate policy to help protect the common currency from “irrational movements”. His comments came amid growing concern that the Euro, now trading around 1.35 to the US dollar, is too strong and could undermine the country’s exporters and hence wider economic growth.
The European Union reached a landmark deal on Thursday to make the European Central Bank the bloc's top banking supervisor, giving EU leaders greater confidence that they are gaining the upper hand over the Euro zone's debt crisis.
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.