Eurozone finance ministers gather in Bucharest on Friday, with Greece at the top of the agenda. For many years the most troubled member of the single currency, Greece faced a debt nightmare following the 2009 financial crisis. Sharp rises in public sector wages combined with a host of problems resulted …
Italy’s economy tipped into recession at the end of last year, according to latest figures. In the final three months of 2018, the economy shrank by 0.2%, following a 0.1% decline in the third quarter, the Istat statistics office said. Italian Prime Minister Giuseppe Conte said the contraction was likely …
The euro has fallen against the dollar after disappointing French and German economic surveys dismayed the markets. In France, private sector business activity contracted for the first time in two and a half years as the “gilets jaunes” protests took their toll. In Germany, private sector activity slowed to a …
Debt restructuring has always been our aim in negotiations – but for some eurozone leaders Grexit is the goal Greece’s financial drama has dominated the headlines for five years for one reason: the stubborn refusal of our creditors to offer essential debt relief. Why, against common sense, against the IMF’s …
Greece is staring into the economic abyss. The Greek government is expected to default on its debt payment to the International Monetary Fund (IMF), due Tuesday. The government shuttered the country’s banks this week, leaving Greek citizens scrambling to withdraw cash from ATMs, but at a limit of 60 euros …
Growth is anemic at best and socio-economic inequality is on the rise. How did the European project go so wrong? Europe won the Cold War. Not long after the Berlin Wall fell a quarter of a century ago, the Soviet Union collapsed, the United States squandered its peace dividend in …
The amount of the increase depends on the airport, with the average being 18.9 percent. Taxes at the two busiest airports, however, will more than double. Madrid’s Barajas airport will increase from 6.95 euros to 14.44 ($8.64 to $17.94). Barcelona’s El Prat airport will go from 6.12 euros to 13.44 …
The eurozone debt crisis could harm the growth of East Asian economies, the World Bank has warned. The bank said that a “serious disruption” in the eurozone could hurt growth and dent demand for exports from East Asia. It said that East Asian countries need to boost domestic demand to …
“You have consequences on growth, you have consequences on trade and you have consequences on financial markets… You can certainly assume it would be quite messy.” CHRISTINE LAGARDE, IMF chief, regarding the possibility of Greece leaving the eurozone, and its potential consequences via Wednesday, May. 16, 2012 – …
The elections in France and Greece rejected the austerity budgets imposed on Eurozone nations. Tom Janssen wonders how much longer Germany can pursue the cuts it has demanded, while Rick McKee questions whether avoiding them is a viable strategy. via Double Take ‘Toons: Now Cut That Out! : NPR.
(Reuters) – The wistfulness in the voice of George Kapetanios is heart-warming and an increasingly familiar tone for Greek families at home and in cities all over Europe and the world these days. Put out of business by a shrinking economy that has been crushed by the eurozone crisis, unable …
MADRID (AP) — Spain’s 74-year-old king came under scathing criticism Sunday for going on an expensive elephant hunting trip in Botswana amid the nation’s deep financial woes. Making matters worse, an accident on the trip sent King Juan Carlos into surgery. Doctors said Sunday that he was recovering well after …