Sat, 09/24/2011 - 15:08 by Manisha Mishra
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Sat, 12/11/2010 - 23:37 by Prince damin
Berlin -- German finance minister Wolfgang Schauble said Germany would stand behind the euro, despite its opposition to a joint European bond issuance.
"All European countries are determined to keep this European currency stable, and we have the means to do it," Schauble said, The Wall Street Journal reported Saturday.
Schauble said, "Sometimes it takes crises so that Europe moves forward. In this crisis, Europe will find steps toward further unification."
The eurozone shares a common currency, but each of the 16 countries that use the euro has independent fiscal responsibilities.
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Thu, 11/11/2010 - 08:11 by Prince damin
New York -- U.S. stock markets were mixed Wednesday after China tightened monetary policy and debt worries in Europe weighed on the euro.
The People's Bank of China raised the ratio on reserves Chinese banks must hold by a half a percentage point, CNN reported. The change, which takes effect Nov. 15, was meant to counter the U.S. Federal Reserve's $600 billion Treasury bond purchasing program announced a week ago.
In Europe, concern over Ireland's debt continued to put pressure on the euro as the Stoxx Europe 600 dropped 0.72 percent, losing 1.98 points to 271.48.
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Thu, 07/29/2010 - 02:16 by Prince damin
Brussels -- The European Central Bank said demand for loans rose from both consumers and businesses in the second quarter in the 16 nations that use the euro as currency.
In a survey of 120 banks in the eurozone, lenders indicating demand for loans was up rose from minus 13 percent in the first quarter to minus 2 percent in the second, while lenders indicating loan demand from consumers -- mostly for mortgages -- jumped from minus 2 percent to 24 percent, The Financial Times reported Wednesday.
Deutsche Bank economist Gilles Moec said a trend towards normal lending would continue in the next six months, but "not spectacularly, because the situation is still stressed."
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Tue, 07/20/2010 - 16:22 by Sophie Anderson
Ryanair, the Irish budget airline, reported a 24 percent drop in first-quarter net profit. The dip in profit has been attributed to rising fuel prices and loss of business due to the volcanic ash cloud chaos.
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Tue, 06/08/2010 - 13:12 by Pankaj Damin
London -- A majority of economists polled in Europe said the euro, only 10 years old, is unlikely to survive for another five years.
Out of 33 economists surveyed, only eight indicated the euro would survive, the Daily Mail reported Monday.
The euro fell to $1.18 briefly over the weekend, reaching a four-year low against the U.S. dollar.
Economists said options include kicking heavily indebted countries -- such as Greece, Spain, Portugal or Ireland -- out of the group of nations allowed to use the common currency, or a stronger nation could back out, unwilling to support weaker nations whose debts were punishing the entire eurozone.
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Sat, 06/05/2010 - 10:09 by Pankaj Damin
Newport Wales -- Andrew Dodt and Marcel Siem jumped into a first-place tie Friday halfway through the European Tour's Celtic Manor Wales Open.
Siem had a 4-under-par 71 in his second round and Dodt turned in a 70, leaving them both at 6-under 136 after 36 holes. They have a one-stroke lead over Thomas Bjorn, who shot a 68 Friday.
Five golfers are tied for fourth at 4-under. That group includes Peter Lawrie, who was the only golfer among those in the Top 20 after the second round to shoot bogey-free golf Friday.
First-round leader Chris Wood had three double bogeys Friday en route to a 5-over 76 and dropped into a tie for 21st at 1-under 141.
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Mon, 05/31/2010 - 09:46 by Pankaj Damin
Holyhead, Wales -- A Romanian national trying to enter Wales was stopped by customs officials with 26,000 Euros ($32,000) in cash stuffed into her bra, officials say.
The currency was mostly in 500 euro notes, a denomination withdrawn from circulation in the United Kingdom after authorities deemed 90 percent of demand for the notes was linked to crime, The Sun reported.
Bob Lyne, U.K. Border Agency director, said Saturday: "Officers are working hard at all our ports to prevent drugs, contraband or the potential proceeds of crime from entering or leaving the country."
"Where we suspect that cash may be linked with criminal activity, we have the power to seize it and it will only be handed back if it is later proved to be legitimate," he said.
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Mon, 05/17/2010 - 21:51 by Inderjit Singh
Frankfurt -- The euro's slide to a four-year low against the U.S. dollar Monday reflects doubt about the safety of equity investments, market analysts said.
Last week, the euro fell after a brief upswing provided by an announcement of $957 billion in loans to be made available for debt-burdened countries.
Meanwhile, the price of gold rose to record highs last week as the option of buying government bonds -- generally considered a safe bet -- became more tentative.
"More people are making the yes or no decision to pull out of the market and keep their money closer to home," said Lou Crandall, the chief economist at Wrightson ICAP, The New York Times reported Monday.
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Thu, 05/13/2010 - 12:13 by Jamie Anderson
Jitters in the European financial markets led the price of gold to reach a record high Wednesday. Investors were visibly ill at ease about the euro and put their money and trust into the yellow metal instead.
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Mon, 03/01/2010 - 20:47 by Inderjit Singh
Frankfurt -- The euro rose Monday while finance ministers worked on details of an agreement to bail out debt-burdened Greece.
The euro went from $1.3616 to $1.3622 and gained against the yen, reaching 121.66 yen from 121 yen on reports that European banks would buy about $40 billion in Greek debt that would help the country meet its obligations through May.
Germany, with the largest economy in Europe, is sure to be a major player in any rescue effort, even after German Chancellor Angela Merkel said a bailout was "not the case."
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Fri, 01/29/2010 - 21:52 by Inderjit Singh
Brussels -- Inflation continued at a modest pace in the European Union in January, the organization's statistical branch Eurostat said Friday.
Inflation in the euro zone, the 16 countries that share the euro as currency, rose 1 percent in January after a 0.9 percent rise in December, Eurostat said.
The figure is a "flash estimate" based on the Monetary Union Index of Consumer Prices, a combination of consumer information and preliminary energy price reports.
Eurostat does not release a state-by-state breakdown of the estimate, but calls the estimate a reliable gauge of inflation, the figure having proved accurate in 18 of the past 24 months and off by 0.1 percent in six of the past 24 months.
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