BRUSSELS, June 4 (Reuters) – France and the European
Commission signalled their support on Monday for an ambitious
plan to use the euro zone’s permanent bailout fund to rescue
stricken banks, as European officials try to reassure investors
they can contain an escalating crisis.
Senior EU officials have promised firm decisions at a summit
at the end of June to resolve the 2-1/2 year debt saga, to
deepen integration in the euro and underpin the common currency,
showing they are committed to its future.
BRUSSELS (Reuters) – Euro zone factory prices unexpectedly held steady in April, marking the fourth straight month of weakening inflation pressures and giving the European Central Bank some space to cut interest rates as the continent’s economy slumps.
Prices at factory gates in the 17 countries using the euro were unchanged from the previous month, the European Union’s statistics office Eurostat said on Monday, as falling oil prices and the cooling world economy shift the inflation outlook.
BRUSSELS, June 1 (Reuters) – Euro zone unemployment has hit
a record high, and job losses are likely to keep climbing as the
bloc’s devastating debt crisis eats away at businesses’ ability
to hire workers while indebted governments continue to cut
Around 17.4 million people were out of work in the 17-nation
euro zone in April, or 11 percent of the working population, the
highest level since records began in 1995, the EU’s statistics
office Eurostat said on Friday.
BRUSSELS (Reuters) – Euro zone joblessness in March and April rose to the highest level since the EU began tracking unemployment data for the currency area, highlighting the devastating impact of the bloc’s debt crisis.
Around 17.4 million people were out of work in the 17-nation euro zone in April, or 11 percent of the working population, the highest level since records began in 1995, the EU’s statistics office Eurostat said on Friday.
BRUSSELS (Reuters) – China sought on Thursday to defuse a deepening trade conflict over accusations that it subsidizes hi-tech firms exporting to Europe, as EU trade ministers met to discuss a new tactic against Chinese companies seen as trading unfairly.
Chinese Commerce Minister Chen Deming, on a visit to Brussels, said Beijing would seek to “exercise restraint in trade remedy measures”, saying he wanted to see more European hi-tech exports to China.
BRUSSELS, May 31 (Reuters) – Italy is hugely exposed to the
risk of contagion from the debt turmoil in the euro zone, its
prime minister said on Thursday, suggesting the European Central
Bank take action to help cool borrowing costs.
Mario Monti, a respected former European commissioner who
took over the premiership in November to enact tough austerity
measures, expressed frustration at borrowing costs that have
risen for Italy since mid-March despite a 2012 budget deficit
forecast at well below the EU average.
BRUSSELS, May 31 (Reuters) – EU trade ministers meet on
Thursday to discuss possible action against Chinese companies
accused of trading unfairly, including asking the European
Commission to start an investigation into China’s subsidies.
Many European companies would like protection from Chinese
imports sold onto the EU market at what they consider
artificially low prices. But they fear that, if they start their
own industry complaints, they will be vulnerable to retaliation
from the Chinese government, which could hamper their business
in an increasingly important market.