Eurozone News
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Paris -
The Organization for Economic Co-operation and Development (OECD) published its latest report Tuesday, in which it notes of a "severe recession" due to the Eurozone crisis. It also urged Bank of Canada Governor Mark Carney to raise interest rates.
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Part of an agreed EU bailout loan to Greece that was due to be paid on May 10 has been withheld, as uncertainty regarding a new government grips the country.
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Nicolas Dupont-Aignan, a Gaulist candidate in the French presidential elections, says if elected, he wants France out of the EU bloc.
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Brussels -
The latest unemployment data for the Eurozone indicates that the rising trend in the jobless total continues apace. Further analysis of the data across European nations reveals some vast differences with the numbers out-of-work.
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It is increasingly inevitable that Greece, already bankrupt, will at some point be forced to leave the euro. A German economist points out that the current crisis leaves the Greeks held hostage by the banks and financial institutions.
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Athens -
President Karolos Papoulias has delivered a speech in which he decried German Finance Minister Wolfgang Schaeuble's insults to Greece. The President said "I cannot accept Mr Schaeuble insulting my country. Who is Mr Schaeuble to insult Greece?
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The crucial date of March 20, much heralded as the date Greece must receive its next bail out loan to avoid a disorderly default, could well now be moved.
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Spain's unemployment rate rose to 22.9 percent, that is the highest figure for 16 years and represents a staggering one in four of the workforce out of a job.
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Athens -
Negotiations over the Greek debt crisis are set to continue after PSI offers on bond swaps were rejected by Eurozone finance ministers.
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Greece may be forced to leave the Eurozone if there is no agreement between its government and the EU and IMF over a further rescue package of 130 billion Euros, according to a government spokesman.
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Eurozone Headlines
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The eurozone's service sector shrinks unexpectedly in February, a survey suggests, increasing fears of a recession.
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Despite lull, eurozone financial crisis is not over yet
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President Barack Obama following the US-EU Summit in Washington, November 2011
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