BRUSSELS, May 3 (Reuters) – The EU’s trade chief will
recommend placing punitive import duties on billions of euros of
solar panels from China, people close to the matter say, putting
up a barrier to protect European producers but risking upsetting
The case, the biggest the Commission has ever targeted,
highlights the balancing act facing Brussels as Europe tries to
protect against cheap imports while needing China, the EU’s
second largest trading partner, to help it emerge from
BRUSSELS (Reuters) – Inflation in the euro zone has fallen to a three-year low and unemployment hit a new record, cementing expectations of an interest rate cut by the European Central Bank later this week.
Inflation tumbled to 1.2 percent in April, the lowest level since February 2010 and the biggest monthly drop in more than four years, the EU’s statistics office Eurostat said on Tuesday, reflecting an economy mired in recession.
BRUSSELS (Reuters) – Confidence in the euro zone’s economy fell further in April, data showed, strengthening the case for a cut in interest rates this week by the European Central Bank.
The euro zone is facing a difficult road out of recession and has seen a souring of the mood among companies and consumers since March, after an optimistic start to the year was disrupted by turmoil in Cyprus and Italy.
MADRID/BRUSSELS, April 26 (Reuters) – Spain acknowledged
that its economy would shrink more than initially expected in
2013 and its budget deficit would be higher than promised, but
the European Union gave it more time to bring the shortfall back
down to bloc limits.
Prime Minister Mariano Rajoy, who was a keen advocate of
austerity in his first year in power, has tried since February
to find a middle way in the argument over Europe’s economic
future between pro-austerity and pro-growth camps.
BRUSSELS (Reuters) – European Union lawmakers have backed French demands to exempt culture from a proposed free-trade pact between Europe and the United States, keeping Paris on side and raising the chances that the talks can start on time.
The European Parliament’s influential trade committee voted on Thursday to leave all of Europe’s cultural and audiovisual services out of the negotiations due to start in July, a decision that will shape the negotiating mandate that EU trade ministers are due to agree upon in June.
BRUSSELS (Reuters) – France and Spain fell short of their budget deficit goals last year and debt levels swelled across the euro zone but the pressure may be easing on Paris and Madrid as the European Commission signals an end to sharp spending cuts.
Outlining the state of Europe’s accounts in 2012, the EU’s statistics office Eurostat said on Monday that France posted a deficit of 4.8 percent of economic output, higher than its 4.5 percent target. Spain’s shortfall was the largest in the EU.
BRUSSELS, April 22 (Reuters) – EU countries reached a deal
with the European Parliament on Monday on the bloc’s first
common rules on mortgage lending, in an attempt to avoid a
repeat of property bubbles that helped fuel the euro zone’s debt
Once written into European Union law, the rules will force
lenders in Europe’s 6.5 trillion euro ($8.5 trillion) mortgage
market to check the creditworthiness of potential customers and
their ability to repay, banning self-certified or “liar” loans.