Unemployment across the nations which make up the eurozone moved up during February, going from January’s figure of 10.7%, to 10.8%. The rate is now at its highest point since the euro was introduced in 1999. Spain had the highest rate of unemployment during the month, with 23.6% of people being unemployed. Portugal (15% unemployed), [...]
During today’s general strike in Spain, which was organised to protest against the Spanish government’s labour market reforms, demonstrators have clashed with members of the police. The nation’s government is set to reveal measures tomorrow which have the aim of both saving billions of euros, and making it simpler for businesses to sack their workers. [...]
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The EU (European Union) is “on the right track” to resolve its ongoing debt crisis, according to Wolfgang Schaeuble, the German Finance Minister. His comments came following talks last week with the Prime Minister of Italy Mario Monti. Schaeuble also stated that Berlin and Rome were “working together”, while he praised the reforms introduced so [...]
Posted in Economy, Featured Post Tags: debt, Economy, EU news, eurozone, eurozone debt crisis, Finance, german finance minister, greek economy, Italian economy, leader, mario monti, mr monti No Comments »
Finance ministers in the eurozone have reached an agreement on a crucial second bailout for Greece. The latest deal, which came following approximately 13 hours of talks in Brussels, will give the Greek government loans with a value of over 130bn euros. The deal was announced on Tuesday morning by Jean-Claude Juncker, the Luxembourgian Prime [...]
MPs in Greece have approved a controversial austerity plan, demanded by the IMF (International Monetary Fund) and eurozone in exchange for a 130bn euro (£110bn, $170bn) bailout. 199 voted in favour of the package while 74 voted against. Tens of thousands of members of the Greek public protested in Athens after the approval. During the [...]
Finance chiefs at some of the largest firms in the UK believe that there is a one in three chance of at least one nation leaving the euro in 2012, according to a recent report from Deloitte. The accountancy giant also stated that organisations were “unconvinced” by the response from Europe’s leaders to the euro [...]
Posted in Economy, Featured Post Tags: Business, business barometer, CFOs, drop, Economy, eurozone, eurozone debt crisis, Finance, finance chiefs, foreign exchange rates No Comments »
The euro has fallen to its lowest level against the dollar since January, amid continuing concerns regarding the eurozone’s future. The euro has dropped below $1.31, whilst when compared with the pound; one euro is now equal to 84.20 pence. The news comes after last week’s EU summit, which saw European leaders discuss how to [...]
Posted in Economy, Featured Post Tags: david cameron, eu summit, euro, eurozone, eurozone debt crisis, eurozone news, fiscal rules, January, Lowest, mainland europe, the dollar, us news, value No Comments »
UK Prime Minister David Cameron has said that he “genuinely looked to reach an agreement” at last Thursday’s EU summit, but vetoed treaty change because he believed it wasn’t in the country’s interest. The Conservative Party leader told UK Members of Parliament yesterday that he negotiated in “good faith” at the summit, and that his [...]
Britain’s Prime Minister David Cameron has decided against joining an EU financial crisis accord, aimed at tackling the eurozone’s financial troubles. Mr Cameron stated that the deal was not in the UK’s interest. French President Nicolas Sarkozy meanwhile, said that Cameron’s “unacceptable” demands for exemptions for the UK, from sticking to new proposed financial services [...]
Attempts to get every one of the 27 EU states to agree to changes to the bloc’s treaties have failed. The treaty change was designed to help tackle the debt crisis in the eurozone. France and Germany had pushed for reforms to the EU treaty, stating that tougher fiscal rules should become part of basic [...]
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