Topic: Euro Zone

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'Fiscal cliff' 101: 5 basic questions answered

President Obama and congressional leaders are working to stop the US from going over the “fiscal cliff,” a combination of higher taxes and lower spending set to take effect Jan. 1. Here are five steps to understanding what's going on.

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The Monitor's View When officials try to ban economic truth

A mandate on Chinese media not to report a credit crunch is the latest example of governments trying to keep bad news under wraps. But the forces for honest financial data are too strong to defy.
The New Economy Consumers riding high as retail sales surprise: this week in the economy

Retail sales surged 0.6 percent last month, on the strength of auto sales and building materials. Also this week, stock prices swing wildly as core wholesale prices suggest tame inflation and manufacturing slows.
Gold nears three-week low on stimulus tapering

Gold fell more than 1 percent on Tuesday to a near three-week low after the Bank of Japan opted not to extend its stimulus program, stoking speculation that the era of ultra-loose global monetary policy is coming to an end.
EU austerity hawks shrug off criticism of flawed academic paper

Despite a new paper detailing flaws in the Rogoff-Reinhart study that has been used to argue in favor of austerity policies, Europe's austerity advocates are holding course.
Stash your cash in Switzerland? US and Europe push to make it harder.

A Spanish court ruling and investigations spurred by whistleblowers are aimed at scaring tax evaders and raising revenue. One watchdog's list could lead to some 300 billion euros in tax havens.
Japan's economy outpaces predictions

Global markets showed improvement, as optimism grows that work by governments around the world will have the desired effect of boosting the economy. In particular, Japan's economy beat expectations for growth in the first quarter of the year; some credited Abenomics.
As Europe struggles, the Franco-German alliance turns testy

The relationship between France and Germany undergirds postwar Europe – and some worry the countries' increased sniping over economic woes is threatening the EU's foundation.
No clear path forward for Bulgaria after election split

The discovery of hundreds of thousands of illegal ballots has left Sunday's already divisive electoral results even more uncertain – and likely compounded Bulgaria's ongoing problems.
Japanese yen plunges to four-year low. G7 unlikely to act.

Japanese yen's plunge vs. the dollar makes its exports cheaper and its companies more competitive. G7 finance ministers will focus on the Japanese yen at talks in the UK this weekend.
Is Europe witnessing 'the end of the dogma of austerity'?

France's finance minister said so this week, just the latest in a growing chorus calling for a change to Brussels' hardline adherence to budget cuts as the solution to Europe's debt crisis.
Energy Voices US oil boom means oil prices must drop, right? Wrong.

Even though production of oil from new fields in the U.S. is booming, there is a consistent decline in production from old fields around the world, and OPEC members have not increased production. Meanwhile, though demand for oil is falling in the US, it continues to grow around the world.
HSBC profits double after restructuring

HSBC saw its net profits more than double in the first quarter, jumping to $6.35 billion from $2.58 billion in the same period of 2012. HSBC has made important progress in increasing revenue and reducing costs, cutting some 40,000 jobs out of a workforce of 300,000 since 2011.
Cover Story Dow at 15,000: What the stock market is telling us

As Wall Street posts a new record, experts decode its message about the state of the economy – and whether it's too late to invest.
Team of rivals: Italy, finally, forms new government (+video)

Center-left leader Enrico Letta will be Italy's new prime minister, after his party formed a coalition government with former Premier Silvio Berlusconi's conservatives.
Italy's long-deadlocked government shows signs of life

Enrico Letta's appointment as prime minister-designate has sparked hope that a coalition government might finally be formed after two months of negotiations.
Stop the hate; start the love

A Christian Science perspective.
The Reformed Broker Is Europe backing away from austerity?

Europe's leaders may be revisiting austerity policies in the face of slow economic growth and weak public support. Will that lead to concrete changes?
Southern Europe digs in against further austerity, as IMF calls for relief

But the EU has little room to give, as Europe waits for signals from September elections in Germany – the ultimate decider of Europe's economic direction.
Asian shares dip amidst slowing economic recovery

Worries about trends in global growth, drove down U.S. and European equities, commodities and Asian markets on Wednesday. Earnings forecasts continue to be revised downward, say analysts.
Auf wiedersehen, euro? New anti-euro party forms in Germany

The small protest party 'Alternative für Deutschland' could shake the political establishment by tapping into German resentment over its perceived propping up of Europe's south.
Global News Blog Irish bank forges in the smithy of its soul a botched James Joyce coin

The Central Bank of Ireland will not withdraw a 10 euro coin that it minted to commemorate Irish novelist James Joyce, even though the coin misquotes a line from his masterpiece 'Ulysses.'
Europe indicates it's sticking with austerity. But is that working?

Herman Van Rompuy said on Monday that Europe would hold the course on austerity, but experts say there has been too little focus on growth and a lack of actual reforms.
Energy Voices Is the future of oil in Tunisia?

Oil industry veteran John Nelson talks to OilPrice.com about the developing interest in Tunisia's energy resources. New bid rounds and forced relinquishments have created an opportunity for new companies to take interest in Tunisia's oil resources.
Tax VOX Stockton to enter bankruptcy. What happens next?

Stockton, Calif., will be the largest US municipality to enter bankruptcy. The question, Gordon writes, is: Who will be left holding the bag?
Portugal spats jeopardize economic improvement in Europe's shaky south

The prime minister's recent threat to resign has raised worries that Portuguese politicians may be engaging in brinksmanship tactics that could endanger the fragile economy.