Eurozone

  • Latvia enters eurozone, becomes its 18th member 01-01-2014 11:14 AM

    Riga: Latvia became the 18th country to join the single currency union on Wednesday, as New Year's Day fireworks erupted at midnight in Riga, the Latvian capital, a news agency reported. As part of celebrations marking Latvia's entry to the eurozone, Valdis Dombrovskis, Latvia's acting head of the government, withdrew...
  • Pranab expresses concern over slow growth, says no reason to worry 14-09-2013 11:13 PM

    Kolkata:Expressing concern over the slow growth of the Indian economy, President Pranab Mukherjee Saturday called for corrective measures, but said there was no room for despondency as the fundamentals were strong. "All of us are concerned about the slow growth of the GDP (Gross Domestic Product) in 2011-12 and 2012-13....
  • 17 nations hit by Euro crisis, scenario worse than forecast 15-02-2013 10:00 AM

    The economy of the 17 nations in the Euro shrank by 0.6 per cent in the fourth quarter, which was worse than forecast. ...
  • New lifeline to Greece; pact to release euro 43.7 bn reached 27-11-2012 05:48 PM

    Berlin: Averting Greece bankruptcy, leaders of eurozone countries and IMF have agreed to unlock 43.7 billion euros to the heavily-indebted Greek economy. The breakthrough came after 12 hours of negotiations by eurozone finance ministers in Brussels which concluded last night. Two earlier attempts had failed to break the deadlock. This...
  • Eurozone unemployment rises to new record 01-11-2012 10:48 AM

    London: Unemployment in the 17-country eurozone hit a record high of 11.6 per cent in September, official figures showed on Wednesday, a sign the economy is deteriorating as governments struggle to get a grip on their three-year debt crisis. The rate reported by Eurostat, the EU's statistics office, was up...
  • Is the Eurozone heading towards a breakup? 21-12-2011 03:59 PM

    The health of the Eurozone is dire. What started out as a sovereign debt crisis in a minor periphery economy of the Eurozone, Greece, has now morphed into a full-fledged crisis involving the giants " Italy and France. It was always clear that if the crisis spread to these bigger...
  • Brussels Summit: UK rejects Eurozone deal 10-12-2011 08:57 AM

    European leaders reached a new deal on Friday to try and resolve the Eurozone debt crisis without UK's approval. ...
  • EU forges fiscal union, sees way out of crisis 10-12-2011 07:52 AM

    Brussels: Working almost to exhaustion and persuading countries one by one, European leaders agreed Friday to redefine their continent - hoping that by joining their fiscal fortunes they might stop a crippling debt crisis, save the euro currency and prevent worldwide economic chaos. Only one country said no - Britain....
  • Brussels Summit: EU leaders agree on fiscal pact 09-12-2011 11:34 AM

    Brussels: European Union leaders sealed a new fiscal pact ensuring tougher budget discipline but failed to agree on a treaty change to enshrine the rules, meaning a deal may now involve the 17 euro zone nations plus any others that want to join, diplomats said. An agreement involving all 27...
  • Brussels summit: EU seeks more unity to save euro 09-12-2011 07:46 AM

    Brussels: European leaders are wrestling over how much of their sovereignty they are willing to give up in a desperate attempt to save the ambitious project of continental unity that grew from the ashes of World War II. At stake at the summit in Brussels, which began on Thursday evening,...
  • Eurozone crisis to hit global airlines hard: IATA 08-12-2011 11:59 AM

    Geneva: The Eurozone crisis is turning out to be the biggest threat to the profitability of global aviation industry, with airlines in Asia-Pacific expected to post losses worth $ 1.1 billion out of a total industry loss of $ 8.3 billion next year, global airlines body IATA has said. With...
  • Eurozone Crisis: Obama speaks to German Chancellor 08-12-2011 09:53 AM

    Washington: US President Barack Obama had a telephonic talk with the German Chancellor Angela Merkel as European leaders prepared to meet again to hammer out an agreement to resolve the Eurozone crisis that threatens to engulf other parts of the globe. Obama and Merkel spoke this afternoon, continuing their ongoing...
  • Euro zone sees 0.2 pc growth in September quarter 06-12-2011 06:55 PM

    London: The 17-nation euro zone clocked an economic growth of just 0.2 per cent in the three months ended September as the debt contagion continued to worsen. Most of the euro area economies, especially Greece, that share the common currency euro are grappling with debt turmoil that threatens to push...
  • France, Germany to show support for new Italian PM 24-11-2011 08:48 AM

    Paris: The leaders of France and Germany will voice their support for new Italian Prime Minister Mario Monti at a tripartite meeting on Thursday, seeking to stem the risk of the debt crisis gripping the heart of the euro zone. The talks hosted by French President Nicolas Sarkozy in the...
  • Greece promises sharper deficit cut in 2012 19-11-2011 04:14 AM

    Athens: Greece predicted on Friday that its budget deficit will fall sharply next year, helped by a bond writedown, and insisted that no fresh austerity measures will be needed to plug a hole in this year's finances. Submitting the 2012 budget, Finance Minister Evangelos Venizelos said the deficit will shrink...
  • Remaining in euro is the only choice: Greek PM 15-11-2011 12:41 AM

    Athens: Greece's new prime minister says he is determined to keep the country in the eurozone, and urged political leaders to back a written commitment for a new massive debt deal. Prime Minister Lucas Papademos was sworn in last week to head a short-term coalition government supported by the outgoing...
  • 'Euro crisis impacting growth, to hurt exports' 14-11-2011 01:32 PM

    New Delhi: Finance Minister Pranab Mukherjee today said the euro zone crisis is impacting the country's growth and will hurt exports in coming months. "The recent development in the euro zone has heightened uncertainty in financial markets. India's short-term growth prospects have been adversely impacted," he said while inaugurating the...