Euro Zone
Spain Faces High Budget Deficit, Pleads for EU Mercy
Spain plans to ask the European Union to allow its 2012 budget deficit to exceed 5% of gross domestic product, well above the limit of 3% of the GDP permitted by EU rules, the online edition of El Pais reported. Spanish Prime Minister Mariano Rajoy and F
Peugeot, GM talk European alliance
…markets. With similar overcapacity problems and dependence on Western European small-car buyers, Peugeot and Opel have little to offer one another in the region, Credit Suisse analyst Erich Hauser said. “We struggle to see how yet another ‘me-too’ co-operation…
To which problem is the EU the solution?
…left to spend on kit our armed forces actually need. Teaming up with Euroland armies would diminish our ability to spend what financial muscle we still have the way that best suits our interests. So why are ministers and mandarins prepared to remain members…
EU set to beef up Syria sanctions
…- The European Union is set to slap fresh sanctions on Syria, including a ban on Syrian-run cargo flights into the 27-nation bloc, EU diplomats said Wednesday. “There will be more sanctions announced Monday” when EU foreign ministers meet in Brussels, one…
GM in Alliance Talks With Peugeot as European Deliveries Sink
…the region until November, when it pulled back the forecast as the European outlook worsened. Peugeot, whose origins date back to the early 19th century laminated steel- and toolmaker Peugeot-Frères et Jacques Maillard-Salins, is still 30 percent owned by…
EU to freeze 495m euros in Hungary funds
…concern 29 per cent of Hungary’s allocations for the year. The European Union executive last month concluded that Hungary had not taken effective action to reduce its deficit below the target of three per cent of gross domestic product by 2011 “in a sustainable…
EU Struggles to Frame New Financial Rules
When it takes six hours to draft a single sentence in a 100-page document, you know things are moving slowly. In meeting rooms of embassies across Brussels, diplomats are haggling over the finer details of dozens of reforms more than four years after the
EU Struggles to Frame New Financial Rules
When it takes six hours to draft a single sentence in a 100-page document, you know things are moving slowly. In meeting rooms of embassies across Brussels, diplomats are haggling over the finer details of dozens of reforms more than four years after the
CEE MARKETS 2-Forint falls, EU eyes suspending some funds to Hungary
(Adds bonds, new prices, trader comment) * EU suspends funds to Hungary, forint, bonds retreat * CEE currencies, stocks ease on global mood * Czech CME shares fall on earnings reports By Marton Dunai and Sandor Peto BUDAPEST, Feb 22 (Reuters) – The Hunga
UPDATE 5-Oil retreats, dragged by weak Europe economy data
* Brent still close to nine month highs * Coming up: API data at 2130 GMT (Updates prices, adds Singapore Airlines news in paragraph six) LONDON, Feb 22 (Reuters) – Oil eased slightly on Wednesday from a nine-month high as weak economic data in Europe an
European Markets Fall On Economic Data
2/22/2012 7:13 AM ET (RTTNews) – The European markets are in negative territory in afternoon trading Wednesday, as unimpressive economic data and lingering concerns about Greece killed risk appetite in the region. The Euro Stoxx 50 index of eurozone blue
EU plans sanctions against Hungary over deficit
BRUSSELS—The European Union’s executive arm said Wednesday it plans to withhold euro495 million ($655 million) in EU development funds from Hungary after the country failed to reduce its deficit. The proposal to withhold the funds is the latest stage in
SocialTwist and Adversitement Bring Social Referral Marketing to European Markets
SocialTwist, a customer acquisition and retention platform that generates viral referrals for businesses, using the social connections of their customers, and Adversitement, a leading online analytics and optimization provider, today announced a partners
EU to punish Hungary over debts
22 February 2012 Last updated at 06:52 ET Hungary’s currency, the forint, has plunged in value as the country struggles with debts The European Commission plans to suspend 495m euros (ÂŁ417m; $655m) of Hungary’s EU funds next year because of the country’
Obama calls German Chancellor on European financial crisis
From Lalit K Jha Washington, Feb 22 (PTI) Hours after Greece secured a bailout to avoid debt default, US President Barack Obama called German Chancellor Angela Merkel to discuss the latest developments concerning the financial situation in the Eurozone,
EU bailout saves Greece for now, but can it survive the terms?
The massive new bailout approved for Greece early Tuesday should rescue it from immediate bankruptcy. But can the country survive being saved? No matter how you cut it — and plenty is being cut — Greece is still only at the beginning of a long-term retre
Korea Won Snaps Three-Day Gain, Bonds Rise as Europe Debt Concern Persists
South Korea’s won declined for the first time in four days and government bonds gained on concern Europe’s debt crisis will linger following a Greek bailout deal. Euro-area finance ministers approved 130 billion euros ($173 billion) in aid for Greece yes
You pay £500 to rescue Greece … British families are hammered again in EU crisis
…suspect Greece will be back at the table at some point and, if the eurozone is not very fortunate, other countries will be back as well. EU leaders haggled through the night before agreeing the Ł110billion deal to replace a previous Ł91billion fund agreed…
MP’s fury at EU pay rise
…the economic secretary to the Treasury, told MPs: Any pay increase for EU staff is unacceptable. She said the ECs attitude was another clear indicator of its estrangement from reality and added that many EU officials already earn significantly more than public…
Kenny and Merkel talks to focus on new vision for EU
…be repeated in case of other euro area countries.” Minister of State for Finance Brian Hayes, who represented the Government in the talks, appeared to take a different approach. Asked if the Government should seek the return of profits the ECB makes on its…
