Michael GoldfarbJanuary 12, 2012 13:32

Europe: Daily economic round-up

Draghi speaks, bonds sell, euro rises, markets calm

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Mario Draghi at his monthly press conference today. His words were like balm on troubled financial market waters (DANIEL ROLAND/AFP/Getty Images)

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ECB chief Mario Draghi held his monthly news conference today and re-iterated he is not changing anything. Interest rates on ECB lending would remain at 1 percent. The bank plans to make further three year loans available for euro zone retail banks starting next month.

The first tranche of three year loans was made available just before Christmas. Almost half a trillion euros was borrowed by around 500 banks. Since then almost as much money has been deposited every night at the ECB leading critics to say the banks were borrowing the money but not getting it out in to the general economy by lending to businesses or buying euro zone nations' sovereign debt.

Draghi told the press conference that the program was working.

Michael GoldfarbJanuary 12, 2012 11:33

Spain: A bit of good economic news

Tourism revenues were up significantly in 2011

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Germany may have a great economy but Spain has great beaches as this German tourist in Mallorca would probably be willing to admit. (JAIME REINA/AFP/Getty Images)

Despite the trouble and strife around the world last year Spain's tourism industry recorded very solid growth. In fact it is because of the trouble and strife that Spain's tourist numbers went up by 8.1 percent.

The political unrest across North Africa meant that European sun worshippers forsook Tunisian and Egyptian beaches for Spanish ones.

Google scores biggest enterprise deal to date

Luke BrowneJanuary 11, 2012 08:23

The BBVA deal is part of Google's efforts to step up competition against rival Microsoft and take on the latter’s Office software by offering products accessed over the Internet.

Michael GoldfarbJanuary 6, 2012 10:39

A Tale of Two Continents

Unemployment reaches record high in euro zone, while falling a bit in the U.S.

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Greek workers protesting last month about job losses. Unemployment in Greece is currently over 18 percent contributing heavily to record high levels of joblessness in the euro zone (LOUISA GOULIAMAKI/AFP/Getty Images)

this story is part of globalpost's continuing coverage of world business. for more visit our new business page.

The good news first: the U.S. economy added 200,000 jobs last month. That dropped the headline unemployment rate to 8.5 percent from 8.7 percent. (The broader measure of unemployment, U6, which includes those out of work for more than 12 months and discouraged workers and those with part-time jobs who want full-time work remains in double digits).

Michael GoldfarbJanuary 3, 2012 09:56

Europe unemployment: lows and highs

Spanish unemployment continues inexorably upward, German joblessness continues to fall

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German Labor minister Ursula von der Leyen makes a point at a press conference where she announced a post-reunification record low level of unemployment. (ODD ANDERSEN/AFP/Getty Images)

A tale of two Europe's: German unemployment down, Spanish unemployment up

Michael GoldfarbDecember 30, 2011 11:25

European financial markets say goodbye and good riddance to 2011

Major exchanges were up on the day but down for the year

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The twin symbols of the European economies catastrophic 2011: an Occupy protester outside the European Central Bank (Ralph Orlowski/AFP/Getty Images)

Europe's financial markets lost ground in 2011. Next year doesn't look much better as one of Europe's big economies, Spain, tries to halve its deficit by cutting spending and raising taxes

Michael GoldfarbDecember 27, 2011 08:09

Spain is back in recession

Economy Minister says Spain has "relapsed" in the last quarter of 2011

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It's a tough job but somebody has to do it. Luis de Guindos arrives for his first day of work as Spain's Economy Minister (PEDRO ARMESTRE/AFP/Getty Images)

this story is part of globalpost's continuing coverage of world business. for more visit our new business page.

Economy Minister says Spain has "relapsed" into recession in the last quarter of 2011. Further contraction is expected next year.

Michael GoldfarbDecember 20, 2011 13:15

Europe: Markets easing up

Christmas? or a sense that perhaps the patient has stabilized?

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Santa is smiling in Germany. A respected study of business leaders published today shows optimism for the economy in 2012 despite the euro zone's woes. (Sean Gallup/AFP/Getty Images)

Christmas? or a sense that perhaps the patient has stabilized?

Michael GoldfarbDecember 20, 2011 05:58

Spain: sombre times ahead

New Prime Minister Mariano Rajoy tells Spanish Parliament the truth: things are bad and be prepared for them to get worse before they get better

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Mariano Rajoy, Spain's new Prime Minister, just before he addresses Parliament yesterday, looks like he's wondering what mess have I got myself into? (DANI POZO/AFP/Getty Images)

New Spanish Prime Minister Mariano Rajoy says times are tough and they will get tougher

Michael GoldfarbDecember 13, 2011 11:40

Spanish Royal Scandal

The son-in-law is not rising as Spanish Royal family try to cut off scandal at the knees

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Iñaki Urdangarin and his wife Princess Cristina on official duty last year. The couple will no longer be given any official duties. (Pascal Le Segretain/AFP/Getty Images)

Spain's King Juan Carlos takes his son-in-law down a peg as financial scandal surrounds the husband of his youngest daughter