Portugal does not need to apply for EU aid, Spain's Economy Minister said on Monday, as pressure mounted on Lisbon to seek outside help in managing its finances and risk premiums on both countries' debt widened.
Economy in both the euro area and the EU27 grew at a much slower pace in the second quarter, according to the second estimate by Eurostat, the official statistical office of the European Union
There is euphoric expectation that China, armed with its $2.6 trillion reserves, will emerge as the ultimate white knight for Europe. Is that belief founded on facts and substantiated by strategic thinking?
Silver and Gold Prices both unwound the last of late Dec.'s gains in early London trade on Wednesday, retreating to $29.20 and $1370 respectively per ounce on what several analysts called profit taking as world stock markets also fell.
Firefox has dethroned Internet Explorer (IE) in December 2010 to become the number one browser in Europe, as Google’s Chrome stole share from the Microsoft browser, a report said.
Chinese ambassador to Spain said on Monday China will contribute to efforts to secure Spain's financial stability and economic recovery as the debt-hit nation is trying to shore up investor confidence and avert any sovereign crisis.
Russia is not ready for the growth of domestic and inbound tourism as the country still has bad roads and undeveloped infrastructure.
Germany is committed to the euro currency and the German people are now stronger in the wake of Europe’s economic crisis, said Chancellor Angela Merkel in her annual televised New Year’s message.
Despite all the turmoil surrounding it, the euro zone will welcome its seventeenth new member, Estonia, when the clock strikes midnight in Eastern Europe, making it the first former Soviet state to adopt the euro currency.
The Vatican has established a new financial authority that seeks to combat money laundering and make its financial activities more transparent.
A sum up of top events that shaped US in past decade (2000-2010). Part 3 covers 2009 & 2010 on Michael Jackson’s death, US economy and jobs, Obama closing Guantanamo Bay detention, troops in Afghan, Tea Party, Sarah Palin and Nobel Peace Prize.
Euro zone reforms designed to penalize spendthrift peripheral nations are still not adequate to alleviate the currency bloc’s problems, said European Central Bank (ECB) governing council member Yves Mersch.
Recent reforms of euro zone governance have not gone far enough, European Central Bank Governing Council member Yves Mersch said on Tuesday.
The European Central Bank failed to attract the 73.5 billion euros from banks on Tuesday needed to offset its seven-month run of euro zone government bond purchases, instead managing to draw just over 60 billion.
Czech government ruled out adopting euro as its currency for now and the country will not put any effort to enter the exchange rate mechanism next year, said the nation’s Prime Minister Petr Necas on Thursday.
Vehicle production in European Union rose by 15% in the first nine months of 2010 compared to the same period in 2009, the European Automobile Manufacturers Association (ACEA) said Thursday.
Although some progress appears to be being made in the euro zone sovereign debt crisis – including the passage of an austerity budget by the Greek Parliament today and a capital injection into Allied Irish Bank (NYSE: AIB) – the most important member of the euro currency bloc, Germany, is unlikely to foot the total bill that will be required to truly resolve this issue.
As the global economy is entering arguably another tumultuous year, spotlight is sharply on the prospects, policies and risks of China's economy, which has all but sailed past Japan's as the world's second largest after the United States.
Problems with the euro are being solved, and the single currency will survive, a member of the European Central Bank Governing Council, Marko Kranjec, said on Thursday.
Unless the European Union (EU) formulates an effective response to the ongoing debt crisis in Europe, the continent faces a new wave of bank failures and a string of sovereign defaults, according to Willem Buiter, the chief economist at Citigroup.
The European Union (EU) has criticized European airports for having failed to respond with frigid weather conditions that have stranded thousands of holiday travelers and cancelled hundreds of flights.
China will buy 4 to 5 billion euros of Portuguese debt in first quarter 2011 and save Europe once again in the process.
