http://www.neurope.eu Economic and Financial News - New Europe News: The European News Source. en-us Copyright The Media Company S.A. info@neurope.eu (New Europe) kgougakis@neurope.eu (Kostas Gougakis) Sun, 01 Mar 2009 04:28:00 +0200 Sun, 01 Mar 2009 04:28:00 +0200 New Europe New Europe 5 http://www.neurope.eu/images/logo.jpg http://www.neurope.eu 100 35 http://www.neurope.eu/articles/99176.php Instead of helping Greece to avoid being ripped off by the hawks of the completely uncontrolled world derivatives market the Eurogroup the council of the 16 Eurozone finance ministers who gathered last week in Brussels pressed Athens to reveal its Plan B to mend the countyrsquo;s ailing public finance. Greece... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/99176.php Sun, 21 Feb 2010 20:50:00 +0200 http://www.neurope.eu/articles/99174.php Europeans have rightfully blamed greedy American bankers whose blood lust for money caused the worldwide recession that put scores of millions out of work on the streets watching their foreclosed homes seized because they couldnrsquo;t pay usurious adjustable rate mortgages and drowning in credit card debt with 23%-30% interest rates... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/99174.php Sun, 21 Feb 2010 20:48:00 +0200 http://www.neurope.eu/articles/99168.php After the European Union once again delayed any decision on whether to bail out Greece as the country struggles to overcome a massive 12.7% deficit that threatened to undermine the entire 16-member Eurozone of countries using the euro markets in Europe and the United States and around the world rallied... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/99168.php Sun, 21 Feb 2010 20:25:00 +0200 http://www.neurope.eu/articles/96854.php BRUSSELS officials have piled pressure on European Union governments to put their public accounts in order on 7 October by initiating excessive deficit procedures against Germany and eight other member states. According to the European Commissionrsquo;s latest estimates the budget deficits of Austria Belgium Czech Republic Germany Italy the Netherlands... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/96854.php Sun, 11 Oct 2009 22:06:00 +0300 http://www.neurope.eu/articles/96675.php THE European economy will need propping up well into 2010 but ballooning budget deficits should be deflated as soon as the recovery is consolidated possibly by 2011 European Union finance ministers said on 1 October. ldquo;It is quite clear that the economic and financial crisis has been halted by bold and... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/96675.php Wed, 07 Oct 2009 00:13:00 +0300 http://www.neurope.eu/articles/96281.php Milk farmers from eight European countries said after a meeting in Paris that they were prepared to strike to press their demands for higher prices and a cut in milk production quotas. The current European farms policy is destroying European milk farmers European Milk Board EMB head Romuald Schaber said... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/96281.php Sun, 13 Sep 2009 22:53:00 +0300 http://www.neurope.eu/articles/94576.php The European Commission decided to provide Zimbabwe with the financial support of eight million Euro for vulnerable people affected by the breakdown of essential health and water supply services to survive. ldquo;The new Unity Government has to address numerous challenges to place Zimbabwe on the path to recovery. The country... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94576.php Thu, 04 Jun 2009 13:00:00 +0300 http://www.neurope.eu/articles/94213.php European Union governments should stress test their banks so as to ensure that they can withstand one of the blocrsquo;s deepest and longest recessions in decades EU Economic and Monetary Affairs Commissioner Joaquin Almunia said in an exclusive interview with the German Press Agency Deutsche- Presse-Agentur dpa in which he... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94213.php Mon, 18 May 2009 15:11:00 +0300 http://www.neurope.eu/articles/94214.php Europe remains in the grip of a deep recession with the regionrsquo;s economic growth expected to fall by 4.2 per cent this year the International Monetary Fund IMF said in its Spring Regional Economic Outlook. Gross domestic product GDP growth in Europersquo;s advanced economies is expected to fall by four... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94214.php Mon, 18 May 2009 15:05:00 +0300 http://www.neurope.eu/articles/94176.php Hungaryrsquo;s new Prime Minister Gordon Bajnai taking over from the previous politician Ferenc Gyurcsany who had headed a minority Socialist government for one year after the opposition Free Democrats quit his coalition has introduced in last few days very strict reforms aiming to tackle the countryrsquo;s economy. The new government... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94176.php Thu, 14 May 2009 10:00:00 +0300 http://www.neurope.eu/articles/94154.php Greecersquo;s Minister of Economy and Finance Yiannis Papathanasiou was in Brussels last week to attend meetings and seminars of his peers and financial analysts and economists to explain how their countries are handling the recession and find ways out of it. Disputing the assertion of one moderator that Greece is... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94154.php Mon, 11 May 2009 13:01:00 +0300 http://www.neurope.eu/articles/94152.php If you can wait two more years the worst of the recession will be over as European Union officials said there wonrsquo;t be a recovery until at least 2011 with the blocrsquo;s economy set to contract by 0.1 percent in 2010 following a worse-than-expected slump of four percent in 2009.... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94152.php Mon, 11 May 2009 12:43:00 +0300 http://www.neurope.eu/articles/94151.php Down for the count the European Central Bank ECB cut borrowing costs by one-quarter percent to an historic low of one percent and adopted new monetary tools while leaving the door open to more rate reductions as it stepped up action to combat the recession. The widely flagged cut in... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94151.php Mon, 11 May 2009 12:42:00 +0300 http://www.neurope.eu/articles/94150.php The central banks of Norway Iceland and Denmark have also cut their interest rate to combat the recession following the European Central Bank. The Norwegian central bank lowered its lead rate a further 0.50 percentage points to 1.5 percent in an attempt to reduce the impact of the weakened global... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94150.php Mon, 11 May 2009 12:26:00 +0300 http://www.neurope.eu/articles/94116.php Economic confidence in Europe bounced back in April according to key report released early last week adding to hopes that the region might now have passed the trough in the current downturn although the European Central Bank said it was still concerned about the effects of low inflation. In a... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94116.php Sun, 03 May 2009 12:53:00 +0300 http://www.neurope.eu/articles/94064.php The European Unionrsquo;s executive has formally called on the bloc to offer Romania a five billion Euro bail-out to save it from financial collapse. The hand-out part of a 20 billion Euro deal agreed in principle with the World Bank and International Monetary Fund on March 25 is intended to... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94064.php Mon, 20 Apr 2009 19:54:00 +0300 http://www.neurope.eu/articles/94062.php According to recent data released by the Instituto Nacional de Estadistics consumer prices in Spain last month fell for the first time in almost 50 years. Reflecting change in year-to-year prices for the month of March Spain became the first country using the Euro to record a negative inflation rate... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94062.php Mon, 20 Apr 2009 19:49:00 +0300 http://www.neurope.eu/articles/94011.php Despite some indicators including rises in stock markets that things are getting better the worldwide recession hasnrsquo;t eased its grip and the slump in the Eurozone has worsened economists from three nations said. ldquo;Despite the deployment of government stimulus packages the economic outlook remains gloomy rdquo; said the joint report... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94011.php Mon, 20 Apr 2009 19:32:00 +0300 http://www.neurope.eu/articles/94038.php Contradicting statistical evidence on the economic performance of the Eurozone gave a series of ldquo;Scottish showersrdquo; to markets last week. On the good side it was the indices of economic activities in March presented by Markit showing better than expected attainments in the Euro money zone on the fronts of... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94038.php Mon, 20 Apr 2009 15:10:00 +0300 http://www.neurope.eu/articles/94036.php The rally of stock prices in practically all the bourses of the world that started in early March and still goes on - but with less dynamism - has created a heated discussion about its nature. Obviously the main question the participants in this debate are called to answer concerns... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94036.php Mon, 20 Apr 2009 14:50:00 +0300 http://www.neurope.eu/articles/94035.php If ever there was a measure of a boom in financial services it must be the growth of investment funds. Since 2002 there was a rise of 31.6 percent to a huge 32 941 funds in Europe. To put this into perspective this total for Europe is four times that... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94035.php Mon, 20 Apr 2009 14:41:00 +0300 http://www.neurope.eu/articles/94112.php Europe must do better in cleaning up its banking sector should the continent have any hopes for recovery from a devastating recession the International Monetary Fundwarned amid signals that some of the continentrsquo;s economies may be pulling back from the brink. Marek Belka head of the IMFrsquo;s Europe department said... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/94112.php Mon, 20 Apr 2009 11:38:00 +0300 http://www.neurope.eu/articles/93965.php European economies can only expect to begin their recovery in 2010 the European Central Bank ECB has predicted. This year global demand is likely to remain very low since global economies including the Eurozone are ldquo;in a serious downturn rdquo; the ECB wrote in its monthly newsletter. The ECB responded... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93965.php Mon, 13 Apr 2009 13:39:00 +0300 http://www.neurope.eu/articles/93966.php European Communities should further liberalise their services and agricultural sector to achieve a robust recovery from the downturn leading to sustained economic growth the Geneva-based World Trade Organization said in a report adding it should be done at both the internal European Commission level and with third countries. The WTO... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93966.php Mon, 13 Apr 2009 13:39:00 +0300 http://www.neurope.eu/articles/93923.php Alist of some of the worldrsquo;s major tax evader havens being used by account holders to hide assets which deprive countries of critical revenues has been released by the Organisation for Economic Co-Operation and Development OECD and one of them ndash; Luxembourg whose prime minister is the head of the... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93923.php Mon, 06 Apr 2009 04:32:00 +0300 http://www.neurope.eu/articles/93922.php The day before the G20 met in London European Economic and Social Committee President Mario Sepi called upon EU leaders to present a unified voice and to put in action its own recovery rapidly. ldquo;The European Union will be heavily represented at the G20 Summit occupying more than one-third of... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93922.php Mon, 06 Apr 2009 04:25:00 +0300 http://www.neurope.eu/articles/93909.php The European Economic and Social Committee President Mario Sepi called upon EU leaders on April 1 to present at the G20 summit in London with one unified voice and to put in action its own recovery rapidly. ldquo;The European Union will be heavily represented at the G20 Summit occupying more... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93909.php Thu, 02 Apr 2009 19:00:00 +0300 http://www.neurope.eu/articles/93757.php In February of 2008 Czech Prime Minister Mirek Topolanek at the Heritage Foundation in Washington DC gave a speech entitled The Value of American Leadership in the 21st Century in which he said ldquo;The determination and resolve of the United States of America played an indispensable role in the victory... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93757.php Mon, 30 Mar 2009 05:56:00 +0300 http://www.neurope.eu/articles/93590.php WASHINGTON: We are living through a time of global economic challenges that cannot be met by half measures or the isolated efforts of any nation. Now the leaders of the Group of 20 have a responsibility to take bold comprehensive and coordinated action that not only jump-starts recovery but also... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93590.php Mon, 23 Mar 2009 16:49:00 +0200 http://www.neurope.eu/articles/93587.php With just a few hints that perhaps the worldwide recession may turn around by the end of the year ndash; although skeptics still abound because of how almost no one economists business executives or bankers ndash; saw the depth of the free fall that has cost millions of jobs and... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93587.php Mon, 23 Mar 2009 13:57:00 +0200 http://www.neurope.eu/articles/93589.php As the world reels in disbelief that capitalism almost collapsed ndash; and might yet ndash; some of Europersquo;s most influential business and political leaders will meet in a suddenly-crucial session March 26 and 27 in Brussels for the European Business Summit 2009 hosted by BUSINESSEUROPE and the Federation of Enterprises... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93589.php Mon, 23 Mar 2009 13:39:00 +0200 http://www.neurope.eu/articles/93585.php German Chancellor Angela Merkel has again said that protectionism in the face of the global economic and financial downturn will backfire if governments persist around the world in circling the fences around their own industries and interests. ldquo;We will master the crisis together rdquo; she told parliament ahead of a... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93585.php Mon, 23 Mar 2009 13:02:00 +0200 http://www.neurope.eu/articles/93579.php Paul Krugman an American economist and Nobel laureate said he believes that Europe and the United States should at least double their fiscal efforts in order to salvage the global economy and that their bail-out efforts so far amounting to trillions of dollars and Euro are still too little too... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93579.php Mon, 23 Mar 2009 09:07:00 +0200 http://www.neurope.eu/articles/93570.php European Union EU states will act in harmony to find a way out of the deepening global financial crisis and ensure that the forthcoming summit of Group of 20 G20 nations is a success EU Commission President Jose Manuel Barroso said. Speaking after talks in London with British Prime Minister... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93570.php Mon, 23 Mar 2009 07:54:00 +0200 http://www.neurope.eu/articles/93572.php European Union leaders have pledged to provide some USD 100 billion in extra loans to the International Monetary Fund IMF and a system for bailing out non-Eurozone EU members in a bid to keep more countries from falling into the financial abyss. ldquo;The decisions that we have made today and... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93572.php Mon, 23 Mar 2009 07:54:00 +0200 http://www.neurope.eu/articles/93564.php The EU authorities in Brussels continue to raise the tones of their predictions on the dangers that lie ahead in the turns and twists of the economic crisis. They exceed by far the usual kind of advice to member states. The European Commission now speaks of an even deeper recession... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93564.php Mon, 23 Mar 2009 04:39:00 +0200 http://www.neurope.eu/articles/93558.php As Europersquo;s car makers stumble and fall some on the edge of extinction the European Investment Bank EIB has moved to save them approving three billion Euro in loans to right some and see if it can save others. This is the second installment in a series of loans that... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93558.php Mon, 16 Mar 2009 16:13:00 +0200 http://www.neurope.eu/articles/93209.php While US central bank head Ben Bernanke has rejected the idea that the government plans to nationalise major US banks in danger of collapse President Barack Obama said the government may yet have to take bigger stakes in its major financial institutions to prop them up and stave off a... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93209.php Mon, 09 Mar 2009 20:00:00 +0200 http://www.neurope.eu/articles/93208.php Britainrsquo;s part-nationalised Royal Bank of Scotland RBS could make around 20 000 redundancies as it aims to focus on its core business according to media reports. New Chief Executive Stephen Hester was to announce a culling of around 10 percent of the bankrsquo;s global workforce as he forces the troubled... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93208.php Mon, 09 Mar 2009 13:05:00 +0200 http://www.neurope.eu/articles/93207.php The Swiss-based private bank EFG International said its profit in 2008 dropped 33 percent compared to the previous year a report would led to its stock dropping 35 percent. EFG said its profit for 2008 was 221.9 million francs on total revenues of 946.3 million. The results were below expectations.... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93207.php Mon, 09 Mar 2009 13:01:00 +0200 http://www.neurope.eu/articles/93204.php The trouble began in the United States with the failure of subprime mortgage assets and American banks are falling setting off fears in Europe and the rest of the world about a domino effect. The Silver Falls Bank in the western US state of Oregon became the 14th US bank... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93204.php Mon, 09 Mar 2009 12:51:00 +0200 http://www.neurope.eu/articles/93203.php The European Central Bank ECB has cut interest rates for the fifth time in six months lowering borrowing costs to an historic low and signaled further reductions were likely in the coming months amid a possible negative inflation rate. A 0.5 percent reduction brought the ECBrsquo;s benchmark refinancing rate down... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93203.php Mon, 09 Mar 2009 12:31:00 +0200 http://www.neurope.eu/articles/93205.php Even as Switzerland said its reputation of bank secrecy would remain ndash; despite turning over the names of hundreds of American investors to US tax officials who said Swiss bank UBS had helped them evade taxes - the European Unionrsquo;s major economies are hoping to enlist the support of all... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93205.php Mon, 09 Mar 2009 12:28:00 +0200 http://www.neurope.eu/articles/93226.php To face the long-lasting recession the European Union must quickly set up an EU-wide system for overseeing its financial markets as a way to stablise the crisis European Commission President Jose Manuel Barroso said. ldquo;There is a serious crisis but there is a way out of it rdquo; he said.... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93226.php Mon, 09 Mar 2009 12:22:00 +0200 http://www.neurope.eu/articles/93221.php It will be a hard sell in countries like the United Kingdom that donrsquo;t want it but European Union countries who donrsquo;t use the Euro as their currency finally should and must try to meet the criteria for joining the Eurozone EU Commissioner for Economic and Financial Affairs Joaquin Almunia... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93221.php Mon, 09 Mar 2009 12:17:00 +0200 http://www.neurope.eu/articles/93191.php The legendary American investor Warren Buffet once said ldquo;Itrsquo;s when the tide goes out that you find out who has been swimming naked.rdquo; That particular piece of wisdom referred to the situation of companies in an economic crisis. But it can also be applied to countries and economies. In Europe... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93191.php Mon, 09 Mar 2009 11:29:00 +0200 http://www.neurope.eu/articles/93190.php Coming closer to the point when the interest rate ldquo;gunrdquo; against the crisis will remain without ammunition because the main European Central Bank rates are already at their lowest levels after a series of reductions the ECB has made clear that it will now employ a non-conventional policy instrument which... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93190.php Mon, 09 Mar 2009 11:24:00 +0200 http://www.neurope.eu/articles/93188.php When the credit crisis first broke out in late August and early September of 2007 this newspaper wrote that the avalanche of the sub-prime loans was to be confronted with state and central bank money in a way which would lead to a real economy recession. We were saying also... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93188.php Mon, 09 Mar 2009 11:11:00 +0200 http://www.neurope.eu/articles/93206.php The European Union efforts to revive ldquo;zombie banksrdquo; poisoned by toxic assets and to jointly supervise the blocrsquo;s troubled financial sector has gained momentum after analysts in Brussels issued a series of recommendations to member states. But those pushing for the swift creation of a pan-European supervisory body were set... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93206.php Mon, 09 Mar 2009 11:08:00 +0200 http://www.neurope.eu/articles/93159.php European Union EU leaders and finance ministers have forged a plan aimed at driving forward an overhaul of the world financial system and tightening market regulation. At a mini-Summit they agreed to ldquo;a common and powerfulrdquo; position aimed at returning confidence in markets which would be presented to the April... info@neurope.eu (New Europe) Economic and Financial http://www.neurope.eu/articles/93159.php Sun, 01 Mar 2009 04:28:00 +0200