Connect to share and comment

European Parliament approves 'banking union' reforms

The European Parliament approved Tuesday the last elements of a new regulatory system meant to prevent failing banks from ever again driving EU member states into bankruptcy. With 'banking union' passed by a very large majority, "we now have in place a true European system to supervise the eurozone banks and deal with any future failures," EU Financial Markets Commissioner Michel Barnier said. cel/may/bmm/hd

Eurozone outlook brighter on better German forecasts

The outlook for the crisis-battered eurozone brightened Thursday as Germany's leading economic think tanks raised their growth forecast for Europe's top economy this year and next year. Greece, one of the hardest-hit euro members, also returned to the debt markets for the first time in four years, raising 3.0 billion euros ($4.1 billion) in a landmark five-year bond sale. Throughout the long crisis, the German economy has managed to escape with only a few bruises.

Eurozone outlook brighter on better German forecasts

The outlook for the crisis-battered eurozone brightened Thursday as Germany's leading economic think tanks raised their growth forecast for Europe's top economy this year and next year. Greece, one of the hardest-hit euro members, also returned to the debt markets for the first time in four years, raising 3.0 billion euros ($4.1 billion) in a landmark five-year bond sale. Throughout the long crisis, the German economy has managed to escape with only a few bruises.

France growth to pick up after sluggish start to 2014

France's economy barely expanded at the start of this year, but growth should pick up if fall short of government forecasts, the national statistics agency said Thursday. INSEE's forecasting arm said in its quarterly outlook report that it believes the French economy expanded by 0.1 percent in the first quarter. The Bank of France last month forecast 0.2 percent growth for the January to March period. Both their forecasts are a slowdown to the 0.3 percent growth rate that France turned in for the final quarter of last year.

Greece fully funded 12 months ahead, does not want another bailout: Eurogroup head

ATHENS (Reuters) - Greece is fully financed for the next 12 months and does not want to ask the euro zone for a third bailout, although it is to early to say if it can fulfill that ambition, the chairman of euro zone finance ministers Jeroen Dijsselbloem said on Tuesday. "We had assurance from the Troika institutions that Greece is fully financed for the coming 12 months," Dijsselbloem told a news conference after a meeting of finance ministers.

Eurozone unemployment rate dips below 12% in February

The Eurozone unemployment rate dipped below 12.0 percent in February, according to official data on Tuesday which also revised the rates for recent months. There were about 18.96 million unemployed people in the eurozone in February, down 35,000 from the January level and 166,000 from a year earlier, the Eurostat statistics agency said. arp/ccr/hd

Portugal's budget deficit falls, remains on target as bailout program nears completion

LISBON, Portugal - Portugal's statistics agency says the country's budget deficit fell to 4.9 per cent of GDP last year — significantly lower than the 5.5 per cent target set by its bailout creditors. The fall was encouraging news for the eurozone's continuing efforts to move on from a debt crisis that rattled its 18 member countries. Portugal's deficit ballooned to 10.1 per cent by 2010, and it became one of four eurozone countries that needed a bailout, receiving 78 billion euros ($107.6 billion) in 2011.

IMF likely to confirm Italy GDP to grow around 0.6 percent this year: source

ROME (Reuters) - The International Monetary Fund is likely to confirm that Italy's economy will grow around 0.6 percent this year and 1.1 percent in 2015 when it issues new forecasts next month, a source close to the matter said on Monday. "There's unlikely to be much change," said the source, who asked not be named, when asked if the forecasts will be revised in the IMF's World Economic Outlook, to be issued in the first week of April. The current forecasts were released in January.

Slovenia jobless rate hits highest level in a decade

Slovenia's unemployment rate surged in January to its highest level since the country joined the European Union in 2004, official data showed Tuesday, as the eurozone country struggles to get out of recession. The country's statistics office said the number of registered unemployed reached 14.2 percent of the workforce. There were nearly 130,00 people unemployed in January, compared to just more than 124,000 in December 2013, the statisticians said.

Slovenia forecasts return to growth in 2014

Slovenia's government forecast on Friday a return to economic growth in 2014, in another sign of recovery for the small eurozone member that last year came close to needing a bailout. Having previously expected output would contract by 0.8 percent, the official Macroeconomic Analysis and Development Institute (UMAR) now predicts expects an expansion of 0.5 percent. For 2015 it projects gross domestic product will expand by 0.7 percent, up from an earlier forecast of 0.4-percent growth made last year.
Syndicate content