BRUSSELS (Reuters) – The fragile euro zone will need another year to reach even a modest level of economic growth, the European Commission said on Tuesday, revising down its forecasts and predicting more of the low inflation and high joblessness that plagues the bloc.
In its autumn estimates, the EU executive said the euro zone’s economy would expand 0.8 percent this year, 1.1 percent next year and by 1.7 percent in 2016 – a level the Commission said six months ago would be achieved next year. The delay in the upturn was due to drag on the economy from France and Italy.
BRUSSELS (Reuters) – The ECB’s president warned divided euro zone leaders on Friday they risked “a relapse into recession” if they failed to press ahead with structural economic reforms, a message welcomed by German Chancellor Angela Merkel.
With a recovery coming to a halt in the second quarter and depressed prices reflecting near record unemployment, France and Italy want to shift away from the spending cuts that marked the bloc’s response to the 2009-2012 crisis.
BRUSSELS (Reuters) – France and Italy renewed their commitment to reform their economies on Friday in the hope of winning more time to bring their public finances in order but the ECB’s president warned more needed to be done to avoid “a relapse into recession”.
After the bloc’s revival came to a halt in the second quarter, France and Italy want to shift course away from the spending cuts that marked the bloc’s response to the 2009-2012 crisis. Germany says debt discipline must continue.
BRUSSELS, Oct 24 (Reuters) – France and Italy sought on
Friday to bridge stark differences with Germany over how to
avert economic stagnation and deflation, but Chancellor Angela
Merkel warned her peers against repeating the euro zone’s debt
After the bloc’s revival came to a halt in the second
quarter, France and Italy want to shift course away from the
spending cuts that marked the bloc’s response to the 2009-2012
crisis. Germany says debt discipline must continue.
BRUSSELS (Reuters) – Euro zone leaders sought on Friday to bridge stark differences over how to avoid economic stagnation and deflation in the bloc, with Germany facing fresh calls to soften its budget rigor and spend more.
With a U.S.-style bond-buying plan by the European Central Bank off the table for now, the bloc has few options, leaving other euro zone leaders to tread a careful line between the opposing growth and austerity camps.
BRUSSELS (Reuters) – The European Union has ended a long-running telecoms row with China, the EU’s trade chief said on Monday, dropping a threat to levy punitive tariffs on Chinese telecoms exports and easing tensions between two of the world’s top trading powers.
As Reuters reported exclusively on Oct. 8, the deal struck between Brussels and Beijing sets out a framework for China to address EU concerns about subsidies to Huawei [HWT.UL], China’s No. 2 telecoms equipment maker, and its smaller rival ZTE.
BRUSSELS (Reuters) – Deflation hit five peripheral euro zone countries in September as inflation slipped to its lowest for five years and exports faltered, data on Thursday showed, offering little hope that the bloc will avoid its third recession in six years.
While consumer inflation at 0.3 percent was unchanged from Eurostat’s Sept. 30 estimate and met market expectations, Greece, Spain, Italy, Slovenia and Slovakia showed deflation in the month on persistently depressed household demand.