Global Economics Correpondent
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Feb 12, 2013

Analysis: Euro strugglers eye Ireland for crisis lessons

LONDON (Reuters) – To the relief of its creditors, Ireland is showing the rest of the struggling euro zone periphery that fiscal and wage discipline will eventually be rewarded by the bond markets, if not appreciated by the man in the street.

A less heartening lesson is that throwing away the crutch of IMF and EU support, as Dublin is likely to be able to do later this year, is no ticket back to pre-crisis prosperity: nations on the euro zone’s rim have dug a debt hole so deep that they face years more of morale-sapping austerity and sub-par growth.

Feb 10, 2013

G20 to skirt potholes and follow growth signposts

LONDON, Feb 10 (Reuters) – With the road ahead looking a bit
smoother, G20 finance ministers will be happy to ignore the
wreck in the rear-view mirror when they meet this week to steer
a course for the world economy.

The euro zone as a whole and a clutch of its members,
including France, Italy and the Netherlands, are expected to
report that their economies shrank last quarter – joining
Germany and the United States – while Japan’s barely grew,
according to economists polled by Reuters.

Feb 8, 2013

Chinese central banker sees dollar remaining dominant, strengthening

LONDON, Feb 8 (Reuters) – The dollar will remain the world’s
dominant reserve currency and is likely to strengthen over time
as the U.S. balance of payments improves, according to a senior
Chinese central banker.

Jin Zhongxia, head of the research institute of the People’s
Bank of China, also said he saw great potential for the yuan
to develop as an international currency as China’s
economy becomes more open and competitive.

Feb 6, 2013

Low growth saps support for globalisation as G20 meets

LONDON (Reuters) – From competitive devaluations to resource nationalism and financial fragmentation, the sinews of the global economy are feeling the strain of years of sub-par growth, adding urgency to the G20′s efforts to revive demand.

Things could be a lot worse. Traditional trade protectionism is muted. Japan’s success in driving down the yen by pre-announcing an easier monetary policy was a shot heard around the world but it has not touched off feared currency wars.

Feb 6, 2013

Analysis: Low growth saps support for globalization as G20 meets

LONDON (Reuters) – From competitive devaluations to resource nationalism and financial fragmentation, the sinews of the global economy are feeling the strain of years of sub-par growth, adding urgency to the G20′s efforts to revive demand.

Things could be a lot worse. Traditional trade protectionism is muted. Japan’s success in driving down the yen by pre-announcing an easier monetary policy was a shot heard around the world but it has not touched off feared currency wars.

Feb 3, 2013

Watch what central bankers say, not what they do

LONDON (Reuters) – Central banking is in a state of flux as policymakers from Tokyo to Washington ditch prevailing orthodoxies to try to grab a bigger share of a slow-growing global economic pie.

That’s why the focus this week will be on what European Central Bank (ECB)Governor Mario Draghi has to say about the strength of the euro and what Canadian central bank chief Mark Carney might have in mind when he succeeds Mervyn King at the Bank of England (BOE) in July.

Jan 30, 2013

Euro zone strugglers cutting labour costs – study

LONDON (Reuters)- Greece, Portugal and Spain are reversing the loss of wage competitiveness that was a significant cause of the euro zone crisis, the Conference Board said on Wednesday.

The business research organisation said unit labour costs, which measure how much a worker earns per hour for the output produced, tumbled 9.2 percent in Greece between the second quarter of 2011 and the same period of 2012.

Jan 29, 2013

Learn lessons to avert youth jobs crisis: report

LONDON (Reuters) – Germany, Denmark and the Netherlands all hold lessons for countries seeking to ease what German Chancellor Angela Merkel calls Europe’s biggest burden – youth unemployment, a think-tank said on Tuesday.

The London-based Work Foundation said there is no one-size-fits-all solution to the problem because the reasons for long-standing cross-country differences in jobless rates are complex.

Jan 27, 2013

Fed waits for job market to perk up

LONDON (Reuters) – The Federal Reserve’s ultra-loose monetary policy is a root cause of the “currency wars” that some see as a looming threat to the world economy, but don’t expect the U.S. central bank to signal a shift back to normal any time soon.

The Fed, whose policy-setting Federal Open Market Committee concludes a two-day meeting on Wednesday, said just last month that it expects to keep short-term interest rates exceptionally low until the U.S. unemployment rate falls to 6.5 percent, inflation permitting.

Jan 22, 2013

No respite for euro zone in long rebalancing slog

LONDON (Reuters) – The euro zone crisis is entering a new, treacherous phase for governments, which can only cross their fingers that slow-burn reforms will pay off before voters get fed up with austerity and high unemployment.

On the face of it, 2013 should be a much less traumatic year than 2012 for the 17-nation single-currency area.

    • About Alan

      "I'm the Global Economics Correspondent for Reuters News based in London. I've reported from more than 40 countries over 30 years and have had postings in Frankfurt, New York, Washington, Paris, London, Tokyo, Singapore and Beijing. From the Plaza Accord to the creation of the euro and the rise of China, I'm lucky to have covered many of the big economic stories of recent years."
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