LUXEMBOURG (Reuters) – Walter Radermacher wanted to be invisible, and working in his unremarkable office above a suburban shopping center in Luxembourg, the European Union’s statistics chief nearly was.
But everything changed for Radermacher one October afternoon three years ago, when he received an alarming letter from Athens the day before his Eurostat statistics agency was scheduled to publish data on the state of Europe’s accounts.
LUXEMBOURG (Reuters) – The euro zone believes Spain’s budget cuts should take account of its recession, its economy minister said, as regional policymakers debated whether to let the country slacken the pace of its austerity drive.
The International Monetary Fund said late on Monday that Spain will miss the 2012 and 2013 deficit targets that it agreed with the European Union as the economy will contract far more next year than the country has forecast.
LUXEMBOURG (Reuters) – Euro zone finance ministers believe that Spain’s budget cuts should take into account its weak economy, Spain’s economy minister said on Tuesday, adding Madrid would work to limit economic recession.
The International Monetary Fund forecast late on Monday that Spain will miss its deficit targets in 2012 and 2013 as the economic contraction next year will be much bigger than the Spanish government has forecast.
LUXEMBOURG (Reuters) – Euro zone finance ministers and the International Monetary Fund held a “thorough and robust” debate on Greece on Monday, but failed to make significant progress in deciding how best to get the country back on track with its bailout programme.
Ministers spent more than two hours discussing an upcoming report by the European Commission, the European Central Bank and the IMF – known as the troika – on Greece’s debt-reduction programme, with divergences emerging inside the euro zone and with the IMF over how best to proceed, officials said.
LUXEMBOURG (Reuters) – Euro zone finance ministers launched their permanent 500 billion euro bailout fund on Monday but said Spain, the country widely expected to be first to draw on it, was taking steps to overhaul its economy and did not need a bailout for now.
Arriving at a meeting in Luxembourg also set to discuss Greece and differences over how to recapitalise Europe’s wobbly banks, German Finance Minister Wolfgang Schaeuble said Madrid had made clear it wanted no assistance.
BRUSSELS (Reuters) – Retail sales in the euro zone barely rose in August as motorists cut back on spending on fuel during the normally busy driving months of the European summer, reflecting the weak economy as it heads into recession.
High oil prices forced consumers in the 17-nation currency area to reduce fuel spending, which held back the volume of retail trade, which rose just 0.1 percent in the month compared to July, the EU’s statistics office Eurostat said on Wednesday.
BRUSSELS, Oct 1 (Reuters) – The EU warned on Monday of an
“economic and social disaster” if joblessness among young
Europeans continued to rise, calling for a joint effort to
combat record high unemployment in the countries which share the
Joblessness in the 17 country bloc was 11.4 percent of the
working population in August, stable compared to July on a
statistical basis, but with another 34,000 people finding
themselves out of work in the month, the EU’s statistics office
Eurostat said. It was 16th straight monthly rise.
BRUSSELS (Reuters) – Unemployment in the euro zone remained at record highs in August and the number of people out of work climbed again, highlighting the human cost of the bloc’s three-year debt crisis.
Joblessness in the 17 countries sharing the euro was 11.4 percent of the working population in August, which was stable compared to July on a statistical basis, but another 34,000 people were out of work in the month, the EU’ statistics office Eurostat said on Monday.
NICOSIA, Sept 15 (Reuters) – They could have been
forgiven for just a little celebrating.
Days after a favourable German court ruling, surprisingly
smooth Dutch elections and the unveiling of an unprecedented
bond-buying plan, Europe’s financial leaders meeting in Cyprus
might even have taken off their jackets.