EUROPEAN UNION

Russia Syria

U.S. Looks For Russian Support In Syria

Treasury Undersecretary for Terrorism and Financial Intelligence David Cohen said in Washington on Wednesday that he will travel to Moscow in the very near future.

EU Recommends Bank Bailout 'Union'; Germany Shoots Down Plan

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The European Union recommended Wednesday that the 17 countries of the euro common currency union create and fund a banking union for bailing out insolvent banks, preventing the fiscal and political stresses such moves have on individual national governments. The union would be funded by the European Stability Mechanism, one of the EU's standing bailout funds.
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EU Commissioner De Gucht

EU Sues Argentina For 'Protectionism' As Trade Row Deepens

The European Union has filed a suit with the World Trade Organization against Argentina?s import restrictions, raising the dispute between the EU and the South American nation only weeks after Buenos Aires nationalized Spanish oil firm Repsol?s subsidiary in the country.
Running of the Bulls 2011. Pamplona, Spain

Is Germany Next? Investors Flee Madrid's CDS For Berlin

Investors are increasingly making a flight to quality as they pull out of credit-default swaps hedges on Europe's primary index as well as the markets for periphery nations like Spain, a trend which indicates higher expectations that periphery nations are unable to repay their debts and a lack of confidence in the political will of the economic union.
Iran baghdad talks

Iran Agrees To Resume Nuclear Talks Next Month In Moscow

The talks between the permanent UN Security Council members plus Germany (P5+1) ended in Baghdad after two days of tough negotiations surrounding Iran's alleged nuclear weapons program, which Iran had threatened to walk out of following the P5+1's refusal to scale back economic sanctions.
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Stevia: Miracle Sweetener May Have A Sour Note

The meteoric rise of a natural, healthy alternative to sugar - a holy grail for the food industry - might just be a little too good to be true. In two years stevia, a plant used for centuries by Paraguay's Guarani Indians, has shot to prominence in products by Coca-Cola, Danone and Merisant.
Woman walks past stock quotation board outside brokerage in Tokyo

Asian Markets Fall As Euro Zone Concerns Persist

Asian markets fell Thursday on increasing concerns about the debt crisis looming over the euro zone as national leaders were unable to present specific steps to overcome the situation in Europe.
Euro

Germany Now Borrowing Money For Free

Investors on Wednesday eagerly snatched up a new two-year German bond with a zero-percent coupon, meaning investors were willing to pay to loan money to Europe's strongest economy when expected inflation is factored in. The yield ended at 0.07 percent.
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Spain's Banks In Focus Ahead Of Bankia Rescue Plan

Spain may say on Wednesday how it will plug a hole of at least 8 billion euros ($10.21 billion) at Bankia, part of an effort to clean up a banking sector laden with bad debts and stop the country sinking further into the euro zone debt crisis.
Woman walks past stock quotation board outside brokerage in Tokyo

Asian Stock Markets Slump On Euro Zone Concerns

Market sentiment continued to be negative as a report quoting former Greek prime minister Lucas Papademos stated that Greece was considering preparations to leave the euro zone. Greece will hold fresh elections June 17.
Markets

European Stocks Boosted By Positive Outlook: Daily Markets Wrap

Comments regarding a rebound in the Chinese economy from the Organization for Economic Cooperation and Development lifted stocks earlier Tuesday and kept Asian and European bourses in the green. The comments came after Chinese Prime Minister Wen Jiabao said last weekend his government would focus more on growth than inflation.
Cyprus drilling

Turkey Warns Oil Companies Off Cyprus Drilling

Turkey, which does not recognize the Cyprus government, and has repeatedly warned against exploration for oil and gas deposits on the island, launched its own exploration effort in the breakaway Turkish Republic of Northern Cyprus.
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Asian Shares Plunge On Europe Crisis, US Econ Data

Asian shares fell steeply Friday after more signs emerged of growing instability among Spanish banks and political turmoil in Greece, with the latest sluggish economic data from the United States adding to the list of risks for investors.

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