Euro Zone

Euro zone economy suffering even as infections ease – ECB’s Lagarde

A second wave of coronavirus cases may be slowing down in Europe but the economy is stil bearing the brunt of the containment measures taken to address it, European Central…

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Euro zone factory activity boomed in October as Germany roared

Manufacturing growth in the euro zone soared in October but the recovery from severely depressed activity at the height of the coronavirus pandemic was again mostly driven by a buoyant…

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Euro zone banks curtail credit access amid fresh pandemic worries

Euro zone banks are tightening access to corporate credit amid a resurgence of the coronavirus pandemic, fresh data showed on Tuesday, adding to already numerous arguments for the European Central…

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Euro zone economic activity risks double-dip recession

Euro zone economic activity slipped back into decline this month as a second wave of the coronavirus sweeps across the continent, heightening expectations for a double-dip recession, surveys showed on…

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Covid-19 second wave can derail Euro zone recovery – ECB’s Panetta

The risk that the second wave of the coronavirus pandemic could derail the euro zone’s recovery from deep recession makes ultra-easy monetary policy all the more necessary, European Central Bank…

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Bulgaria and Croatia enter last phase pre-Euro zone membership

Bulgaria and Croatia took a big step toward adopting the euro currency, potentially becoming the newest members to the bloc after years of economic crises and shocks. The European Central…

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Consumers and businesses set to save money thanks to new EU cross-border payments rules

As of Monday, consumers and businesses in non-eurozone Member States will enjoy cheaper cross-border payments in euro. New EU rules will ensure that all cross-border payments in euro in non-eurozone…

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Europeans show record support for the euro, majority want to remove 1 and 2 cent coin

More than three in four citizens think that the single currency is good for the European Union, according to the latest Eurobarometer results. This is the highest support since surveys…

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Euro zone business growth grinds to a halt as services struggle

Euro zone business growth almost ground to a halt this month as activity in the bloc’s dominant services industry increased at a much weaker pace than expected and among manufacturers…

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Euro zone economic sentiment worsens as gloom spreads to services

Euro zone economic sentiment deteriorated in October for a second straight month, data showed on Wednesday, as pessimism in industry spread to services and consumers in a bad sign for…

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No sign of euro zone crisis due to political turmoil in Italy

Olaf Scholz , the German Finance Minister, said that there is no sign of a looming euro zone crisis due to political upheaval in Italy. Asked on Wednesday morning if…

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Gloomy outlook for Euro zone business growth

Euro zone business growth was weaker than expected in July, hampered by a deepening contraction in manufacturing, and forward-looking indicators in surveys published on Wednesday suggest conditions will get worse…

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EU’s 2018 bank stress test considered too mild

Last year’s European Union bank stress test did not appropriately reflect systemic risks, EU auditors said on Wednesday, a shortfall that may have produced misleading results for some lenders,…

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EU finance ministers fail to agree on euro zone budget

European Union finance ministers failed to agree in overnight talks on some of the key features of a future euro zone budget and decided to continue discussions in the coming…

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EU reviewing past money-laundering cases at banks in the EU

The European Commission is reviewing past money-laundering cases at EU banks to assess what went wrong and decide possible tweaks to rules. Under the plan, the European Commission is assessing…

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UniCredit risks EU antitrust fine

UniCredit is one of eight European banks that risk being fined by the European Commission for allegedly breaching EU competition rules, the Italian lender has said. The company said in…

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One euro zone bank falls short of ECB capital requirements

An ECB presentation showed on Monday that one euro zone bank is falling short of the European Central Bank's capital requirements for 2019, meaning it will face restrictions on how…

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EU to add Bermuda to tax haven list

European Union finance ministers are set to add the British overseas territory of Bermuda to the bloc's blacklist of tax havens on Tuesday. But Reuters reports that Italy is objecting…

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The EU and the US concerned following reports that Italy is close to signing up to China’s Belt and Road initiative

The European Commission stressed the need for EU States to stay united following reports that Italy is close to signing up to China's huge Belt and Road infrastructure initiative.…

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48 financial firms to move to Germany due to Brexit

German regulators have received 48 applications in recent months from financial firms seeking to relocate to Germany in the wake of Britain's decision to leave the European Union. Reuters…

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Marked slowdown in eurozone growth says ECB chief

Countries with high public debt like Italy should increase their efforts to cut it, European Central Bank Governor Mario Draghi. Italy has the highest debt in the eurozone after Greece,…

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Greece tries to confront banking crisis

Germany’s international broadcaster Deutsche Welle (DW) takes an in-depth at the banking crisis afflicting Greece after eight exhausting years of financial crisis and the scandals that accompany it. Greek banks…

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Oil Prices push Eurozone inflation

Financial Times: The surge in the price of oil has pushed eurozone inflation above the European Central Bank’s target, but policymakers in Frankfurt are expected to ignore the rise as broader…

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France’s and Germany’s proposal for common eurozone budget faces resistance from other countries

The Financial Times reports that France and Germany are facing a growing backlash from other Eurozone governments against their plans for a common eurozone budget, dealing a blow to the two countries’…

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Eurozone Deal on Greece

Financial Times: Eurozone governments have brokered a long-awaited debt relief deal for Greece, pushing back repayment deadlines on almost €100bn of bailout loans as the country prepares to exit its…

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Eurozone Ministers discussing Greece’s debt adjustment

AFP: Eurozone ministers will on Thursday try to resolve their differences over the terms of Greece's departure from its massive bailout programme with splits over the degree of debt relief needed…

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Merkel and Macron agree to open a new chapter in European Union relations

Germany and France have agreed to "open a new chapter" in European Union relations, after Chancellor Angela Merkel and French President Emmanuel Macron met to finalise plans for sweeping reforms of…

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Macron to push for eurozone reform

Euronews: Emmanuel Macron is expected to push eurozone reform back on the European agenda when he meets with German Chancellor Angela Merkel in Berlin today. Reforming the management of Europe's single…

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Merkel more open to Macron’s plans on migration and defence policy than the Euro

AFP: German Chancellor Angela Merkel said she was more open to French President Emmanuel Macron's plans to reform migration and defence policy in Europe than his hopes to bolster the euro.…

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German proposals for strengthening Euro currency union

AP reports that Germany's finance minister is urging bolder steps to strengthen the 19-country euro currency union by setting up a fund to help member states with high unemployment and…

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Renzi satisfied that there was no deal between PD and M5s

Former premier and ex Democratic Party (PD) leader Matteo Renzi said that he was pleased he had intervened to scupper the possibility of the centre-left group striking a government deal…

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ECB retains same interest rates

This week, the European Central Bank announced that it will keep its interest rates unchanged. This decision was based on the ECB's regular economic and monetary analyses. In a statement, the…

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