BRUSSELS (Reuters) – Inflation fell in the euro zone in February and joblessness rose to an all-time high, highlighting the impact of the bloc’s debt crisis.
Annual inflation in the 17 countries sharing the euro was 1.8 percent in February, the EU’s statistics office Eurostat said on Friday, around the ECB’s target of below but close to 2 percent, and by more than expected.
BRUSSELS (Reuters) – The worst of Europe’s sovereign debt crisis may be over in terms of financial turmoil but the region now faces a social crisis that has potential to tear the European Union and its single currency project apart.
Political and economic analysts speaking at the Reuters Euro Zone Summit said the decision last September by the European Central Bank to buy government bonds in unlimited amounts set a floor under one part of the crisis, but did nothing to prevent worsening social strife.
BRUSSELS (Reuters) – The United States and European Union cannot afford to let transatlantic trade talks fail after they are launched in June, the EU’s trade chief said on Wednesday, warning that both sides’ standing and prosperity in the world depended on their success.
Washington and Brussels will begin talks towards a deal encompassing half the world’s economic output just a few months after the EU launches talks with Japan in March, EU Trade Commissioner Karel De Gucht told the Reuters Euro Zone summit.
GENEVA/BRUSSELS, Feb 26 (Reuters) – The World Trade
Organisation has backed the European Union’s challenge to
Chinese duties on X-ray scanners and Brussels demanded they be
removed immediately, saying it would not accept tit-for-tat
trade retaliation from Beijing.
China imposed duties of the security scanners from Europe in
2011 after Brussels imposed tariffs on Chinese cargo scanners in
2010, a response the European Union said was purely retaliatory
and broke global trade rules.
BRUSSELS, Feb 26 (Reuters) – Italy’s fractured election
result may be a wake-up call to European politicians who have
slackened their reforms and in any case market pressure will
return to force euro zone integration, a prominent EU lawmaker
The Italian stock market fell and the country’s borrowing
costs rose on Tuesday as investors took fright at a political
stalemate after elections that saw a protest party lead the poll
and left no group with a clear majority in parliament.
BRUSSELS (Reuters) – The euro zone will not return to growth until 2014 and struggling Spain and France will be among those who miss debt-cutting targets as a result, the European Commission said on Friday.
Paris and Lisbon said they would seek more time from Brussels to reach their deficit goals. Madrid has already indicated the same.
BRUSSELS (Reuters) – The euro zone will not return to growth until 2014, the European Commission said on Friday, reversing its prediction for an end to recession this year and blaming a lack of bank lending and record joblessness for delaying the recovery.
The 17-nation bloc’s economy, which generates nearly a fifth of global output, will shrink 0.3 percent in 2013, the Commission said, meaning the euro zone will remain in its second recession since 2009 for a year longer than originally foreseen.
BRUSSELS, Feb 21 (Reuters) – Canada must offer the European
Union broader access to its markets if both sides are to agree a
free-trade accord they have been negotiating since 2009, the
EU’s trade chief said on Thursday.
A free-trade agreement with Canada would be the European
Union’s first such deal with a major world economy. The United
States is watching closely because Washington will launch
separate trade negotiations with Brussels later this year.
BRUSSELS/BEIJING, Feb 21 (Reuters) – China’s leadership
transition is complicating talks to resolve a
multi-billion-dollar dispute with the European Union over solar
panels, pushing both sides closer to placing punitive tariffs on
each others’ exports and risking a trade war.
The newly appointed chief of China’s Communist Party Xi
Jinping is set to take over the presidency at a national
congress in March. But the full line-up of government officials
is not yet in place and China’s current commerce minister is
likely to step down after what some have said was a political
snub at the Party’s congress in November.
BRUSSELS, Feb 18 (Reuters) – European Central Bank President
Mario Draghi sought to take the heat out of a debate about
currency wars on Monday but said the ECB would still have to
assess the economic impact of the euro’s strength.
The euro hit a 15-month high against the dollar
earlier this month, complicating the ECB’s policy-making tasks
by weighing on growth and feeding expectations that it may have
to take fresh policy action, which some ECB members oppose.