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.
Eurozone Data Indicate ‘New Recession’: Markit
Factories saw demand fall and countries saw unemployment rise from July through September as Markit Economics said the activity—or, rather, lack of it—indicated a “new recession.”
German Unemployment Up for Sixth Month
Still, unemployment was near its lowest level since reunification, and the overall rate held steady at 6.8%.
German Confidence Drops Again
German business confidence fell once more in September, this time to its lowest level in two and a half years, as growth slowed as well. Economists had expected it to move in the other direction.
Eurozone Confidence Falls
Economists were more optimistic than businesses and consumers in the eurozone, as figures show economic confidence reached its lowest level in three years.
Eurozone Unemployment Sets Record
Unemployment throughout the eurozone hit a record, statistics revealed, with the numbers for many individual nations following suit.
Draghi’s Dilemma: ‘Whatever it takes’ Could Alienate Fellow ECB Members
Mario Draghi, president of the ECB, may have painted himself into a corner with his London speech on Thursday promising to do “whatever it takes” to rescue the euro.
Greece Calls New Elections After Coalition Talks Fail
Greece will hold new elections after the three major parties and President Karolos Papoulias failed to form a governing coalition that could agree on how to handle the country's debt burden.
Draghi Tested by German Wage Hikes
European Central Bank President Mario Draghi is in the hot seat over his continuing uniform euro zone policy aimed at controlling inflation.
ECB Likely to Wait for Debt Deal on Greece
Any concessions the European Central Bank may choose to make on Greece’s sovereign debt are likely to remain unknown until Athens comes to some sort of agreement with its private debt holders.