BRUSSELS, May 16 (Reuters) – Falling prices in Germany and
France pulled euro zone consumer inflation to a three-year low
in April while imports fell 10 percent in March, as new data
showed the depth of the bloc’s downturn.

The sharp drop in annual consumer inflation to 1.2 percent,
confirmed by the EU’s statistics office Eurostat on Thursday,
highlights the risk of deflation in the euro zone, which slipped
into its longest ever recession at the start of this year.

BRUSSELS/BERLIN (Reuters) – Germany’s economy crept back into growth at the start of the year but not by enough to stop the euro zone from contracting for a sixth straight quarter, and France slid into recession.

Falling output across the bloc meant the 17-nation economy is in its longest recession since records began in 1995.

BRUSSELS (Reuters) – European Union finance ministers gave the green light on Tuesday to start talks with Switzerland and Liechtenstein about surrendering bank data, as Europe stepped up its fight against tax evasion.

The move, described as ‘historic’ by Germany’s Finance Minister Wolfgang Schaeuble, redoubles pressure on Switzerland to open up account details and will likely pave the way for Austria to ditch its own bank secrecy for foreigners.

BRUSSELS, May 9 (Reuters) – The European Commission agreed
to impose punitive import duties on solar panels from China in a
move to guard against what it sees as dumping of cheap goods in
Europe, prompting a cautious response from Beijing which called
for further dialogue.

EU commissioners backed EU Trade Chief Karel De Gucht’s
proposal to levy the provisional duties by June 6 and make
Chinese solar exports less attractive, two officials said.

BRUSSELS, May 8 (Reuters) – Canada threatened on Wednesday
to take the European Union to the World Trade Organisation over
its plans to label Canadian oil sands as dirty, but promised not
to delay a bilateral trade pact.

The issue has overshadowed relations as Canada and the EU
try to deepen economic ties through a trade deal that could
generate $28 billion a year in new business and commerce.

BRUSSELS, May 8 (Reuters) – The European Commission agreed
on Wednesday to impose punitive import duties on solar panels
from China in its boldest move yet to protect against what it
sees as Chinese dumping of cheap goods in Europe.

EU Commissioners backed EU Trade Chief Karel De Gucht’s
proposal to levy the provisional duties by June 6 and make
Chinese solar exports less attractive in Europe, two officials
said, confirming news first reported by Reuters.