Articles tagged as: euro zone

November 28th, 2011

British magazine The Economist warns in its latest issue that the breakdown of the euro could happen in the coming weeks. In an article entitled "Is this really the end?", it says that "the fall of the single currency could occur within weeks", and it calls for the European countries, ...

Continue reading Euro May Fall “Within Weeks”

November 25th, 2011

The Institute of International Finance (IIF) has said that the situation in the euro zone "has deteriorated" in the last month dropping "into a new recession," which will shrink the European economy by one percent of its Gross Domestic Product (GDP ) in 2012. "The situation in the euro zone has ...

Continue reading Euro Zone Already in Recession, Says World Bank

November 17th, 2011

The average price per litre of diesel stands at 1.316 euros, exceeding the price per litre of petrol for the first time since 2009 and is just a centimo off the historical ceiling it reached in July 2008. As recorded in the European Union Petroleum Bulletin, a litre of 95 octane ...

Continue reading Price of Diesel Overtakes Petrol

November 17th, 2011

The Presidents of the European Commission, Jose Manuel Durao Barroso; the European Council, Herman Van Rompuy; and the Eurogroup, Jean-Claude Juncker, engaged in a debate on Wednesday before the plenary meeting of the Parliament, on strengthening economic integration in the euro zone in order to fight the debt crisis. The discussions ...

Continue reading EU Presidents Debate on Strengthening the Euro

November 14th, 2011

Tourism in Spain is thriving, despite the crisis, enjoying its fourth best year, and forecast to close with 57 million foreign tourists, an increase of 8% in spending, and with "revenues now exceeding those achieved in 2010 by 1,500 million euros, a 14% increase above 2007 and 2008 levels." "We are ...

Continue reading Spanish Tourism Generating More Income Than Before the Crisis

November 11th, 2011

The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, warned this week that the global economy may face the risk of a "lost decade" of growth because of the debt crisis in the euro zone. From the Institute of International Finance in Beijing, the former French Finance Minister urged ...

Continue reading IMF Warns the Global Economy Faces a “Lost Decade”

November 8th, 2011

According to a survey conducted by Randstad among professionals in 29 countries, the Spanish figure of 33% is two points above the EU average, one of the highest rates in Europe and behind only to Sweden (42%), Hungary (39%), Norway (37%) and Poland (35%). The countries which have fewer women in ...

Continue reading 33% of Spanish Employees Have a Female Boss

November 4th, 2011

German Chancellor, Angela Merkel, and French President, Nicolas Sarkozy, have warned the Greek Prime Minister, George Papandreou, that Greece will not receive a penny more help if the Greek Government does not strictly comply with the agreements reached at last week’s summit. After an emergency meeting between Merkel, Sarkozy, Papandreou and ...

Continue reading Greece Gets Ultimatum Over Euro

November 3rd, 2011

Italy's Mario Draghi, 64, replaced Frenchman Jean-Claude Trichet on Tuesday as Chairman of the European Central Bank, with the guarantee of continuity in monetary policy decisions and in the extraordinary measures needed to tackle the crisis. Analysts expect that with Draghi at the helm, the ECB will continue buying the sovereign ...

Continue reading Draghi Takes the Reins of the ECB

November 2nd, 2011

The European Union has called for joint action at the G20 summit this week in Cannes (France) in order to revive the world economy, believing that the stabilisation of the EU economy will not be enough. "A joint action is required by all G20 members," said the Presidents of the European ...

Continue reading EU Calls for Joint Action of G20 to Revive World Economy

October 28th, 2011

The European Commission President Jose Manuel Durao Barroso said that the EU "is closer to resolving its financial and economic crisis" thanks to the agreements reached at the euro zone summit in Brussels, which included putting 50% of the Greek debt in the hands of banks, the strengthening of the ...

Continue reading European Union “Closer to Resolving its Economic Crisis”

October 27th, 2011

The Lower House of the German Parliament (Bundestag) approved, with an overwhelming majority of 503 votes in favour versus 89 votes against and 4 abstentions, the proposal of the German Chancellor, Angela Merkel, to expand the capacity of the European Financial Stability Fund (EFSF) without increasing the contribution of German ...

Continue reading Germany Supports Strengthening of Bailout Fund

October 21st, 2011

The European Commission President Jose Manuel Durao Barroso, said on Wednesday morning that the summit of the Heads of State and Government of the euro zone, which will take place on Sunday, will succeed in finding "an answer to reinforce the rescue fund" and that it will be able "to ...

Continue reading Barroso Optimistic Over Bailout Fund

October 19th, 2011

Finance ministers of the G-20, a forum bringing together the major developed and emerging economies of the world, has urged countries in the euro zone to reinforce the capacity of the European Financial Stability Fund (EFSF) to dispel the doubts of the markets on their ability to protect Spain and ...

Continue reading G-20 Urges Europe to Resolve Debt Crisis to Avoid Global Contagion

October 18th, 2011

The President of the European Central Bank (ECB), Jean Claude Trichet, said that the institution has done "all that can be done" to find a solution to the debt crisis in the euro zone, and stressed that now it is the Governments that must deal with this situation. "I think the ...

Continue reading Trichet Believes in European Unity