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Eurozone News

France warns won't meet EU deficit targets as steps up security spending

Paris - France warned Tuesday it won't meet its EU deficit obligations as it steps up spending on security in the wake of the Paris terror attacks.

Greek banks must find up to 14.4 bn euros after ECB stress test

Frankfurt - Four major Greek banks must find up to 14.4 billion euros ($15.8 billion) to survive potential economic shocks, the European Central Bank said, releasing the results of an in-depth financial health check.

Op-Ed: Stormy weather — Financial review

The S&P 500 gained 2.1 percent for the week; its fourth straight weekly gain; moving into positive territory year to date. For the week, the Dow rose 2.5 percent and the NASDAQ gained 3 percent.

ECB to keep gunpowder dry in Malta, despite deflation fears

Valletta - The European Central Bank looks set to keep its key rates steady and refrain from any additional stimulus measures at a meeting in Malta on Thursday, despite concern about chronically weak inflation, analysts said.

Triple whammy threatens Eurozone Special

New York - Three recent crises — the Greek bailout, the surge of refugees and Russian intervention in Ukraine — have called into question the future of the European Union. All these crises involve boundaries – either building them up or tearing them down.

Forex markets looking at Greece, investors look to U.S.

The news from Greece of a shutdown put fear into investors and the euro dipped as a result against the dollar. Analysts are looking toward reliable US data, while China's situation worsens.

Op-Ed: From Grexit to Brexit?

The Greeks have spoken, categorically rejecting Troika-imposed austerity, and further entrenching Athens and Berlin behind their respective battle lines.

ECB to hold emergency meeting on Greek bank funding: sources

Frankfurt - The European Central Bank's decision-making governing council will hold an emergency session Friday to discuss a request from the Bank of Greece for an increase in liquidity to Greek banks, sources familiar with the matter told AFP.

Scores injured in anti-austerity riots against ECB's new HQ

Frankfurt - Violent clashes between anti-capitalist activists and German police left dozens injured and a trail of destruction in Germany's financial capital as the European Central Bank opened its new headquarters on Wednesday.

ECB opens new HQ under heavy police presence

Frankfurt - The European Central Bank officially inaugurates its new 1.3-billion euro headquarters in Frankfurt on Wednesday, under tight security with more than 10,000 anti-austerity demonstrators planning a protest rally.

ECB to launch long-awaited QE gambit

Berlin - In what may be its best and last chance to stimulate growth and ward off deflation across the eurozone, the European Central Bank on Monday will launch its long-awaited 1.1 trillion euro ($1.2 trillion) quantitative easing programme.

FTSE 100 sets record on Tuesday but fails to hold it on Wednesday

After approval of economic reform proposals submitted by Greece helped the FTSE 100 reach record-breaking levels yesterday, it has fallen back considerably throughout the course of today, with shares in some major companies dropping by nearly 10 percent.

ECB approves 60 bn euros in emergency funds for Greek banks

Frankfurt - The European Central Bank has given the green light to make up to 60 billion euros ($68.5 billion) in emergency liquidity available to Greek banks, a source close to a national central bank told AFP on Thursday.

ECB rings in new year with QE fireworks

Frankfurt - The European Central Bank began 2015 with a bang Thursday, launching a massive trillion-euro bond purchase programme to ward off deflation and end stagnation in the eurozone economy.

Banks preparing for possible Grexit

Athens - Both banks and brokers are dusting off contingency plans for a possible Greek exit from the eurozone (Grexit). While most think that Greece will remain in the zone, the snap elections to take place January 25 may make such an exit more likely.

Eurozone 'no longer has to rescue Greece': German MP

Berlin - Europe no longer needs to rescue Greece as the country has lost its "systemic relevance" to the eurozone and its power of political "blackmail," a senior German lawmaker said Wednesday.

European stocks shaken by fears of return to crisis

London - European stocks closed mixed on Thursday, with German shares staging a late comeback after fears the eurozone could be heading toward a fresh crisis spread turmoil through markets for much of the day.London's benchmark FTSE 100 index ended down 0.

IMF reduces global growth projection for 2015

Washington - The International Monetary Fund(IMF) reduced its projected global growth number for next year to 3.8 percent from 4 percent in July. The downgrade resulted from continued economic weakness in the Eurozone and a slowdown in several emerging markets.

ECB holds key rates steady amid anti-austerity demos

Naples - The European Central Bank held its record-low interest rates unchanged at its regular monthly policy meeting on Thursday, amid fierce street clashes between anti-austerity demonstrators and police outside the Italian venue.

ECB fires off volley of anti-deflation shots

Frankfurt - The European Central Bank rolled out Thursday an unprecedented package of measures, including negative interest rates, in its fight to head off the spectre of deflation in the euro area.

Berlusconi issues stark warning over eurozone's future

London - Former Italian prime minister Silvio Berlusconi warned the euro currency could fail without a radical shake-up of the European Union.

ECB to hold fire on rates but could move soon

Brussels - The European Central Bank will keep its gunpowder dry at its monthly meeting Thursday, but could pave the way to act soon if deflationary dangers persist, analysts said.

European Parliament approves 'banking union' reforms

Strasbourg - The European Parliament approved on Tuesday the last elements of a new set of rules to prevent failing banks from ever again driving EU member states into bankruptcy.

Eurozone industrial output edges up in February

Brussels - Eurozone industrial output edged higher in February, official data showed Monday, in line with recent data showing a very modest economic recovery in the single currency bloc.

U.S. warns eurozone over deflation risk

Washington - U.S. Treasury Secretary Jacob Lew warned the eurozone Wednesday to pay heed to the risk of deflation, adding pressure on European authorities and the European Central Bank to boost growth.

ECB holds key rate steady at 0.25% 

Frankfurt - The European Central Bank held its key interest rates steady as widely expected on Thursday. The ECB left its central "refi" or refinancing rate unchanged at 0.25 percent at its monthly policy meeting, it said in a statement.

Pace of French deficit reduction to be discussed with EU: minister

Paris - France's new Finance Minister Michel Sapin said on Thursday the "pace" of the country's deficit reduction would be discussed with the European Union.

ECB to hold fire on rates despite slow inflation, analysts say

Frankfurt - The European Central Bank is not expected to cut its key interest rates on Thursday, even though inflation in the euro area slowed sharply last month, analysts said.

Eurozone unemployment rate dips below 12% in February

Brussels - The Eurozone unemployment rate dipped to 11.9 percent in February, according to official data on Tuesday which also slightly revised the rates for recent months.There were about 18.

ECB to hold fire on rates despite slow inflation

Frankfurt - The European Central Bank is not expected to cut its key interest rates this week, even though inflation in the euro area continues to slow, analysts said. The ECB has held eurozone borrowing costs at their current all-time lows since November.
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