EU Pushes Ahead With Reforms Despite Opposition
Action is progressing on a number of fronts for the European Union even as opposition from countries such as Germany and the U.K. slows progress.
Sovereign Debt: Emerging Markets and Developed Nations
Optimism may be surfacing in the Eurozone, and many officials may have backed off their original tough stance on austerity, but Greece is still battling its debt demons.
Beyond Stock Gloom
Since the recovery from the worldwide financial meltdown commenced in 2009, global stock markets have closely mirrored international economic fundamentals.
Eurozone Bank Supervision to Start in 2013
A meeting of EU leaders resulted in agreement that the ECB will be at the head of a framework of eurozone bank supervision, and that the structure will be in place by the beginning of 2013.
Merkel Calls for Financial Transaction Tax-Funded Aid Plan
Chancellor Angela Merkel of Germany raised the prospect of a new European aid fund that would be used to help struggling eurozone countries finance projects to improve their fiscal well-being and make them more competitive.
German Finance Minister Wants to Change EU Treaties
German Finance Minister Wolfgang Schaeuble is advocating changes that will allow the EU’s monetary affairs commissioner to reject national budgets and prevent non-eurozone countries, like Britain, from nixing eurozone-only measures.
IMF Says Greece Needs More Time, Possible Debt Reduction
Christine Lagarde and Wolfgang Schaeuble are locking horns over Greece.
Spain in Mind as Eurozone Brings ESM Online
The European Stability Mechanism, the permanent rescue fund of the eurozone, goes into operation on Monday in anticipation of Spain’s potential need for a bailout.
Germany Said to Stall Spain on Bank Rescue
Just when it seems that Spain has made up its mind at last to ask for a bailout for its banks, Germany is said to be pushing Madrid to wait.
German Unemployment Up for Sixth Month
Still, unemployment was near its lowest level since reunification, and the overall rate held steady at 6.8%.