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Italy places 30-year bond in four-year first

Agence France-PresseMay 15, 2013 14:24
Italy on Wednesday placed a 30-year bond, the first time it has done so since September 2009, which should help the country spread out the repayment period of its massive debt. The Italian Treasury raised 6 billion euros ($7.7 billion) at a yield of 4.985 percent, according to an economy ministry statement. Italian media said bids for the bonds had totalled more than 12 billion euros.

Eurozone, EU economies contract in 1st qtr.

Agencia EFEMay 15, 2013 09:53
Brussels, May 15 (EFE).- The Eurozone's gross domestic product contracted 0.20 percent in the first quarter of this year, compared to the prior three-month period, while the European Union's GDP declined 0.10 percent during the January-March period, Eurostat said Wednesday. The countries in the single-currency zone registered a drop of 0.60 percent in their GDP in the last quarter of 2012, while the GDP of the 27-member EU fell 0.50 percent during the final three months of last year.

EU ministers reach deal on fisheries reform

Agence France-PresseMay 15, 2013 07:30
EU ministers agreed early on Wednesday a reform of the EU's fishing quota system that must now be approved by the European Parliament, where lawmakers are set on curbing overfishing. Ireland, which is chairing the talks under the country's six-month EU presidency, is trying to reconcile the conflicting interests of member states with the hardline stance of the European Parliament. The key sticking point is Parliament's insistence that discards -- the wasteful practice of dumping unwanted fish overboard -- should be banned.

French economy is back in recession, spelling trouble for region

The Canadian PressMay 15, 2013 02:45
PARIS - France's economy is in recession again — and that could spell more trouble for Europe. The national statistics agency, Insee, said Wednesday that gross domestic product fell 0.2 per cent in the first quarter of the year. The agency also revised its data for the fourth quarter of last year, saying GDP fell 0.2 per cent, up from a 0.3 per cent retraction. A recession is defined as two consecutive quarters of negative growth.

Small euro coins may be dropped: EU

Agence France-PresseMay 14, 2013 22:26
Small change in the euro, one and two-cent coins, expensive to make and a nuisance for many, may have no future, the European Commission said Tuesday. Small and awkward they may be: but they have cost the eurozone about 1.4 billion euros since 2002, the Commission said. The Commission outlined four possible scenarios for the coins, based on a cost-benefit analysis of their use -- the status quo, making cheaper versions, and a speedy or a gradual withdrawal. It said public attitudes are mixed overall.

Small euro coins may be dropped: EU

Agence France-PresseMay 14, 2013 22:00
Small change in the euro, one and two-cent coins, expensive to make and a nuisance for many, may have no future, the European Commission said Tuesday. Small and awkward they may be: but they have cost the eurozone about 1.4 billion euros since 2002, the Commission said. The Commission outlined four possible scenarios for the coins, based on a cost-benefit analysis of their use -- the status quo, making cheaper versions, and a speedy or a gradual withdrawal. It said public attitudes are mixed overall.

Small euro coins may be dropped: EU

Agence France-PresseMay 14, 2013 22:00
Small change in the euro, one and two-cent coins, expensive to make and a nuisance for many, may have no future, the European Commission said Tuesday. Small and awkward they may be: but they have cost the eurozone about 1.4 billion euros since 2002, the Commission said. The Commission outlined four possible scenarios for the coins, based on a cost-benefit analysis of their use -- the status quo, making cheaper versions, and a speedy or a gradual withdrawal. It said public attitudes are mixed overall.

Greece selling debt cheaper after getting new batch of rescue loans

The Canadian PressMay 14, 2013 14:46
ATHENS, Greece - Greece saw the interest rate it has to pay to get investors to lend it money fall further Tuesday, a day after its European creditors backed the release of the country's next batch of rescue loans. The Public Debt Management Agency said it raised 1.3 billion euros ($1.7 billion) from the sale of 13-week loans at an interest rate of 4.02 per cent — that's the lowest rate since April 2011 and the second lowest in 28 equivalent auctions that started that year.

EU agrees extra 2013 budget, with caveats

Agence France-PresseMay 14, 2013 12:31
EU finance ministers agreed Tuesday to add 7.3 billion euros to the bloc's 2013 budget, a hotly contested move which was crucially tied to a wider accord on its 2014-20 spending plans. Ministers "reached a political agreement" on amending the budget, adding the first tranche of what could be a total 11.2 billion euros to cover shortfalls in member state commitments. This money would be focused on "measures to support economic growth, create jobs and tackle unemployment, especially among youth," a statement said.

Cyprus aims to regain trust by 2016 after bailout cash

Agence France-PresseMay 14, 2013 09:05
Cyprus aims to recover market confidence by 2016 after receiving the first tranche of a 10 billion euro rescue package to save its recession-hit economy, Finance Minister Haris Georgiades said Tuesday. The EU on Monday handed over the first two billion euros of loans agreed under the controversial Cyprus aid deal, the bloc's European Stability Mechanism said in a statement.
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