BRUSSELS/PARIS (Reuters) – Unemployment has reached a new high in the euro zone and inflation remains well below the European Central Bank’s target, stepping up pressure on EU leaders and the ECB for action to revive the bloc’s sickly economy.
Joblessness in the 17-nation currency area rose to 12.2 percent in April, EU statistics office Eurostat said on Friday, marking a new record since the data series began in 1995.
PARIS (Reuters) – French President Francois Hollande said on Thursday he was sticking to a target of cutting down unemployment by year-end, after fresh data showed that the number of jobless hit a new all-time high in April.
In a stark illustration of the challenge facing the Socialist president, the 3,264,400 registered job seekers in April marked two uninterrupted years of monthly rises and a 1.2 percent increase on March.
PARIS (Reuters) – German Finance Minister Wolfgang Schaeuble warned on Tuesday that failure to win the battle against youth unemployment could tear Europe apart, and dropping the continent’s welfare model in favour of tougher U.S. standards would spark a revolution.
Germany, along with France, Spain and Italy, backed urgent action to rescue a generation of young Europeans who fear they will not find jobs, with youth unemployment in the EU standing at nearly one in four, more than twice the adult rate.
PARIS, May 28 (Reuters) – German Finance Minister Wolfgang
Schaeuble warned on Tuesday that failure to win the battle
against youth unemployment could tear Europe apart, while
abandoning the continent’s welfare model in favour of tougher
U.S. standards would cause “revolution”.
Germany, along with France and Italy, backed urgent action
to rescue a generation of young Europeans who fear they will not
find jobs, with youth unemployment in the EU standing at nearly
one in four, more than twice the adult rate.
PARIS (Reuters) – Europe must urgently tackle youth unemployment, the French, German and Italian governments said on Tuesday, urging action to rescue an entire generation who fear they will not find jobs.
Ministers called for a mixture of measures including helping small companies and boosting apprenticeships.
PARIS (Reuters) – France needs to deliver promised budget cuts if it wants to avoid a further credit rating downgrade, Standard & Poor’s lead analyst for France told Reuters on Monday.
S&P, which stripped France of its coveted AAA rating in January 2012, could confirm the current AA+ rating if the public debt ratio looked set to stabilize, but analyst Marko Mrsnik says it remains to be seen if France can achieve that in 2015.
PARIS (Reuters) – Bundesbank chief Jens Weidmann said on Thursday it was not up to the European Central Bank to solve the euro zone crisis, resisting pressure from other ECB policymakers for the bank to widen its range of policy tools.
Speaking in Paris, Weidmann declined to comment on U.S. Federal Reserve chairman Ben Bernanke’s remarks that the U.S. central bank may start to trim its bond purchases at one of its next policy meetings.
ORLEANS, France (Reuters) – The European Central Bank will keep its loose and growth-supportive monetary policy stance in place for “quite a long time”, ECB executive board members said on Friday.
With the euro zone economy stuck in recession, the ECB cut its main refinancing rate to a record low of 0.5 percent and extended its provision of unlimited funds to banks by a year at its May policy meeting,
PARIS (Reuters) – French President Francois Hollande called on Thursday for an economic government for the euro zone with its own budget, the right to borrow, a harmonized tax system and a full-time president.
At a 150-minute news conference marking his first year in office, a day after economic data showed France had slipped into recession, the Socialist leader defended his record on economic reform and budget discipline and told the French people they would have to work “a bit longer” for a full pension in future.
PARIS (Reuters) – European Commission President Jose Manuel Barroso said on Wednesday France needed to present a credible program of structural economic reforms if the EU is to grant it two more years to bring its budget deficit down as promised.
Barroso, who was due to meet French President Francois Hollande in Brussels later in the day, was speaking as new data showed Europe’s second largest economy slipped into a shallow recession.