Topic: EU Economy

Top galleries, list articles, quizzes

Briefing
What would happen if Greece exited the eurozone?

Rumors are rife of a Greek exit from the eurozone. While no country has yet dropped the common currency, there are some indications of what will transpire if Greece does.
Where gas prices are highest

Gasoline is a very visible price, and closely watched by many drivers. Petroleum prices impact many products, from food to industrial production. While the cost of crude is the major factor in gasoline price volatility, some countries levy taxes on fossil fuels. Here are ten countries where high gas prices are the norm, according to British insurance firm Staveley Head.
Hollande's victory: The world ponders a major shift

François Hollande's victory may represent change for not just France, but Europe as a whole.
A hard landing for China? Six top economists weigh in.

China's economy grew 8.9 percent last quarter, the slowest pace in 2.5 years, and on Monday Premier Wen Jiabao cut the nation's growth target for 2012 to 7.5 percent, an eight-year low. Worries of a Chinese hard landing, defined as a sharp and sudden deceleration in growth, have gained momentum. However, China has been proactive in its efforts to prevent a hard landing. It has fine-tuned its policies to curb inflation, boost domestic consumption, and prevent a housing bubble. The Chinese government intervened heavily from 1989 to 1991 to cool its economy, causing real growth in gross domestic product to plunge to 4.1 percent in 1989, from 11.3 percent the previous year. It stepped in again in 1993. And some argue that this time around it's no different, and that the government knows exactly what it is doing. So we asked six top China analysts whether they saw a hard or soft landing scenario and what we should keep an eye on.
Women's history month: 10 women making history today

March is known as Women's History month, meant to recognize the contributions and progress of women across history and around the world. Women today are playing some significant roles, from making peace to crafting economic policy in the midst of a crisis. Here are 10 women who are making history, today.

All Content

Greeks shrug off Europe's warnings that turmoil could get worse (+video)

Europe's dire warnings to Greece about the consequences of a potential default engender little fear among Greeks, who say the worst has already arrived.
EU calls for "banking union" to fight debt crisis

The European Commission proposed Wednesday that such a body should oversee banks directly, sidestepping national governments.
Briefing
What would happen if Greece exited the eurozone?

Rumors are rife of a Greek exit from the eurozone. While no country has yet dropped the common currency, there are some indications of what will transpire if Greece does.
US Treasury bond yields hit record low as eurozone worries mount

A decline in global stock prices Wednesday shows that many investors are taking sanctuary in US Treasury bonds, anticipating major convulsions in the eurozone – and perhaps its breakup.
Strengthen the euro and reform the European Commission

At a time of European debt crisis, when some see a common currency as a straightjacket, Europe must follow through and strengthen the euro. Europe must also move on political reform. One place to start: Elect the president of the European Commission, the EU's executive arm.
Woman rescued from rubble after earthquake in Italy (+video)

A woman in Cavezzo, Italy, was pulled alive from the rubble of her home Wednesday. The death toll from Tuesday's northern Italy earthquake has risen to 17.
Stefan Karlsson
The case for a German value added tax

The continuing eurozone crisis has economists debating the case for a value added tax, or whether or not the German surplus be reduced without reducing (and preferably in fact increasing) German incomes.
Stefan Karlsson
Europe can strengthen Greece without weakening Germany

Some experts warn that Greece can't reduce its current deficit unless Germany and other better-off nations reduce their surpluses. Here's why they're wrong.
EU still looking for way forward on Greece, growth, and euro zone

The latest summit in Brussels concluded with wide agreement that something needs to be done but with little consensus on what to do.
Stocks rally to erase steep losses

Stocks closed mixed Wednesday after a late rally erased steep losses. The Dow lost seven points to close at 12496
Where gas prices are highest

Gasoline is a very visible price, and closely watched by many drivers. Petroleum prices impact many products, from food to industrial production. While the cost of crude is the major factor in gasoline price volatility, some countries levy taxes on fossil fuels. Here are ten countries where high gas prices are the norm, according to British insurance firm Staveley Head.
Global News Blog
Amid eurozone turmoil, Germany borrows money for free

Germany sold $5.7 billion of debt today to yield 0 percent, a reflection of how much Europe's largest economy has diverged from its southern neighbors who are paying far more to borrow.
Gordon Brown: Europe needs a global rescue

The G8 summit at Camp David failed to find a plan for economic growth in Europe and to deal with a euro crisis that goes beyond debt. It may seem strange to propose that the world’s second-richest continent needs a global rescue. But today’s European consumers are too fearful to spend.
Stocks mixed after Greek worries resurface

After gaining for most of the day, the Dow only finished up 2 points at 12503 Tuesday, as news out of Greece yanked indexes lower shortly before the closing bell.
OECD concerned that eurozone crisis could threaten world recovery (+video)

The Organization of Economic Cooperation and Development said Tuesday the eurozone must get member nations with debt problems under control, so as to not pose problems for a less than robust world economic recovery.
Stefan Karlsson
Will Greek default really mean leaving the EU?

German leaders  have warned that if Greece cancels its austerity measures, Germany and others will stop funding the Greek budget deficit. That may not necessarily mean that Greece will be forced to exit the EU and reintroduce the drachma.
France says 'oui' to euro bonds, but Germany says 'nein'

German finance official says Berlin continues to oppose euro bonds, which would create debt backed jointly by European Union nations. EU members meet Wednesday in Brussels to discuss euro bonds and other growth-enhancing policies.
Gold prices to climb if Greece gets fixed

Gold prices fall when dollar strengthens, as it has during latest Greek crisis. Gold prices will recover when Greece's path is clear, says a gold expert.
Obama, G-8: Recovery takes both growth and cutting

Confronting an economic crisis that threatens them all, President Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge.
As its banking woes mount, Spain ponders where to go from here

Its banks struggling, Spain has moved closer to needing a bailout. But some argue the takeover of Bankia and other measures could mark the beginning of movement toward greater stability.
G8 summit: Euro crisis and possible 'Grexit' overshadow agenda

The G8 leaders hosted by Obama at Camp David have several global issues on their minds: Syria, nuclear proliferation, famine. But the eurozone debt crisis is once again the dominant concern.
Stocks fall amid discouraging economic reports

The Dow fell 156 points to close at 12442 – the index's 11th loss in 12 days – after a pair of discouraging economic reports unnerved investors already worried about a possible exit from the euro by Greece.
Caretaker government for Greece until June elections

Panagiotis Pikramenos, a senior judge, will lead an interim government of 16 until elections are held.
Briefing
What would a Greek exit from the eurozone look like?

Rumors are rife of a Greek exit from the eurozone. While no country has yet dropped the common currency, there are some indications of what will transpire if Greece does.
Merkel, Hollande pledge to find common ground on European growth

French President François Hollande and German Chancellor Angela Merkel held the first of many meetings yesterday, discussing proposals for augmenting austerity with stimulus measures.