BRUSSELS (Reuters) – European Central Bank President Mario Draghi kept the door open on Monday to further interest rate cuts, saying any decision on further action would depend on economic data.

He also urged countries not to let up on efforts to balance their budgets even though savings measures can cause “social tensions”, and said that governments should be involved in any bank resolution where taxpayer money is involved.

BRUSSELS, July 9 (Reuters) – Spain’s economy minister will
outline further budget savings to his peers, paving the way for
Europe to grant the euro zone’s fourth-largest economy an extra
year to reach its deficit targets, diplomats said on Monday.

Although no final decision is expected at a Eurogroup
meeting of euro zone finance ministers for a bailout of Spain’s
banks, a wider gathering of EU finance chiefs on Tuesday is set
to ease a debt goal that has pressured Madrid to make punishing
cuts that are exacerbating a recession.

BRUSSELS, July 9 (Reuters) – Euro zone finance chiefs will
try to flesh out plans to reinforce the single currency on
Monday but their talks in Brussels may do little more than
highlight the limitations of last month’s deal to help indebted
states and banks.

Decisions on banking supervision, how to use euro zone
bailout money, aid to Spain and Cyprus and whether to grant
concessions to Greece are likely to take months to finalise,
while pressure for action is growing.

BRUSSELS, July 6 (Reuters) – Euro zone officials are
cautioning against expecting any quick action from the currency
bloc’s finance ministers when they meet on Monday to sort out
the tangle of loose ends and disagreements left by last month’s
EU debt-crisis summit.

Banking supervision, the use of European Union bailout
money, aid to Spain and Cyprus and how to deal with Greece –
together it could take months to finalise, despite pressure from
financial markets for clarity on the details.

BRUSSELS (Reuters) – South Korea’s biggest car maker, Hyundai Motor Co, decided to boost its European presence five years ago, adding a family sedan and a sporty-looking crossover SUV to its smaller hatchbacks.

The models have been a hit. European sales jumped 15 percent in the first half of this year, even while overall vehicle sales in countries such as France and Italy showed double-digit falls. The company’s market share has been growing for 41 consecutive months, said Allan Rushforth, chief operating officer at Hyundai Europe.

BRUSSELS, July 6 (Reuters) – South Korea’s biggest car
maker, Hyundai Motor Co, decided to boost its European presence
five years ago, adding a family sedan and a sporty-looking
crossover SUV to its smaller hatchbacks.

The models have been a hit. European sales jumped 15 percent
in the first half of this year, even while overall vehicle sales
in countries such as France and Italy showed double-digit falls.
The company’s market share has been growing for 41 consecutive
months, said Allan Rushforth, chief operating officer at Hyundai
Europe.

BRUSSELS (Reuters) – Euro zone officials are cautioning against expecting any quick action from the currency bloc’s finance ministers when they meet on Monday to sort out the tangle of loose ends and disagreements left by last month’s EU debt-crisis summit.

Banking supervision, the use of European Union bailout money, aid to Spain and Cyprus and how to deal with Greece — together it could take months to finalize, despite pressure from financial markets for clarity on the details.

BRUSSELS (Reuters) – Euro zone factory prices fell more than expected in May as the cost of energy dropped sharply, reinforcing the case for an ECB interest rate cut as early as this week to aid the region’s stagnant economy.

Prices at factory gates in the 17 countries using the euro slid 0.5 percent from April, the European Union’s statistics office Eurostat said on Tuesday, as Brent crude continued to fall and change the inflation outlook.

BRUSSELS (Reuters) – Joblessness in the euro zone rose to a new record high in May, pushed up by lay-offs in France, Spain and even stable Austria, as the 2-1/2 year debt crisis continued to eat away at the currency bloc’s fragile economy.

Around 17.56 million people were out of work in the 17-nation euro zone in May, or 11.1 percent of the working population, a new high since euro-area records began in 1995, the EU’s statistics office Eurostat said on Monday.