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 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 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 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 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
October 17th, 2011
Eurogroup Chairman Jean-Claude Juncker, has proposed ten steps to resolve the crisis in the euro zone, including automatic sanctions for fiscally irresponsible governments, greater powers for the Commission, and a dividend for taxpayers in return for the bank bailouts, reported Diario Sur. In an interview with the German newspaper "Handelsblatt" published ...
Continue reading Juncker Seeks Fines for Fiscally Irresponsible Governments
October 14th, 2011
According to the European Commission’s quarterly report on the euro zone, property prices in Spain rose by 155% during the previous cycle of economic expansion (between 1995 and 2007, at an annual rate of 8%) and has fallen by 22% between the outbreak of the financial crisis and the first ...
Continue reading Brussels Reports on Spanish Real Estate Sector
October 7th, 2011
The ratings agency Standard & Poor's has revised downward, for the second time since 31st August, its economic growth forecasts for the euro zone, with a GDP growth estimate of 1.1% for 2012, compared to the previous projection of 1.5%, while leaving its forecast for Spain unchnaged, at ...
Continue reading S & P Maintains Growth Forecast for Spain
August 22nd, 2011
The halt in construction in Spain continues to hinder the whole euro zone sector with Spanish activity recording a decrease of 43.11% y-o-y in June, the highest among all countries in the euro zone and EU as a whole, which recorded declines of 11.3% and 8.1% respectively, according to data ...
Continue reading Spain Leads Construction Slow Down in the Euro Zone
August 18th, 2011
French President Nicolas Sarkozy and German Chancellor Angela Merkel, have proposed in a letter to the president of the European Union, Herman Van Rompuy, the "future" suspension of structural and cohesion funds "in euro zone countries that do not meet the recommendations of the excessive deficit procedure". In that letter, which ...
Continue reading Germany and France Call for Tough Measures on EU Aid
August 17th, 2011
Experts predict that the fall in house sales, from 22.9% in June (according to the National Statistics Institute) will continue until the end of 2011 because of economic uncertainty, although the price adjustments are slowing, according to Cinco Dias. Business Director of Aguirre Newman, Angel Serrano, said that the "extreme volatility" ...
Continue reading Forthcoming Election Hinders House Purchases
