European Commissioner for Economic and Monetary Affairs

Alarm grows over Russian swoop for Spanish oil firm - Summary

Madrid - Concern was mounting in Spain on Friday over a possible Russian purchase of nearly 30 per cent of the country's largest oil company Repsol YPF, with the governing Socialists appearing divided over the issue. Repsol...

As The Federal Reserve Readies-Up Quantitative Easing, The Bank of Spain Sees Little Prospect Of...

While we are likely to see a “substantial” drop in euro-region inflation, Bank of Spain forecasts for the 15-nation euro area do not show price drops. That is they “show an enormous moderation in price gains, but they do show...

Troubled Hungary seeks eurozone talks next year

Budapest - Hungary, one of Europe's hardest-hit nations in the global financial crisis, could begin talks aimed at adopting the euro as early as 2009, Finance Minister Janos Veres said Thursday. Veres said he was envisaging...

HIGHLIGHTS-Eurogroup's Juncker, EU's Almunia

STRASBOURG, France, Nov 17 (Reuters) - The following are comments by Eurogroup Chairman Jean-Claude Juncker and EU Monetary Affairs Commissioner Joaquin Almunia at the European Parliament on Monday. JUNCKER On divergences in...

Eurozone Sinks Into Recession for First Time

Brussels - The economy of the 15 nations sharing the euro has slumped into recession for the first time ever, EU data released Friday revealed, with GDP falling 0.2 percent in the second and third quarters. The 27-nation EU as...

European economy falls into first recession in 15 years

E urope's economy fell into its first recession in 15 years in the third quarter, paving the way for deeper cuts to interest rates and taxes amid the worst financial crisis since the Great Depression. The two quarters of...

UPDATE 2-Latvia eyes rescued bank debt rollover, outside help

By Patrick Lannin RIGA, Nov 14 (Reuters) - Latvia has consulted the European Union about possible aid and begun talks with creditors of stricken bank Parex on a rollover of almost $1 billion of debt due next year, officials...

Charlemagne: No room in the ark

The euro may not be quite as safe a haven as enthusiasts are claimingFOR those fond of gloating, the story of Noah’s ark is an unsatisfactory read. As the waters rise, no mention is made of sinners thumping on the ark’s closed...

Germany's economy: A little stimulus

Even in recession, Germany is the last of the small spendersCHINA is to spend $586 billion to prop up growth. Japan plans $275 billion-worth of economic stimulus. America’s government is expected to pump out still more cash....

EU calls for global response to economic slowdown

The European Union (EU) called on Tuesday for a global response to the economic slowdown incurred by the financial crisis and real change in the international financial system. Addressing the second Brussels International...