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Eurozone sees “dramatic improvement” in its economic recovery

Addressing the final day of the World Economic Forum, Head of the European Central Bank (ECB), Mario Draghi, said Eurozone had witnessed “dramatic improvement” in its economic recovery over the past two years. He said risks had declined considerably across

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Eurozone finance ministers starting to lose patience with Greece

Head of the Eurogroup, Jeroen Dijsselbloem, said the Eurozone finance ministers were starting to lose patience with  debt-laden Greece. The Eurogroup is made up of the finance ministers from the 17 nations that use the single European currency. Greece has

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Spanish public debt reaches its record high

Public debt in Spain is currently standing at USD 1.3 trillion, which is about 92% of the country’s economic output. Despite the tough austerity measures, which sparked countrywide protests, the debt grew by 15% from last year and above the

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Economic morale of the Eurozone at a 4 month low

Economic sentiment in the Eurozone economy hits its 4 month low in April, slipping 1.5 points to a worst than expected 88.6, according to the European Commission. “The further and increased slippage in economic sentiment in April reinforces our belief

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Greek debt is containable, says the troika

The troika, which includes the European Commission, the European Central Bank and International Monetary Fund (IMF), has said Greece will return to growth in 2014 after the release of the next tranche of financial support. The troika recently reviewed the

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Greece unemployment hits highest rate in European Union

BBC-The latest unemployment rate for Greece has risen to 26.8%, the highest figure recorded in the European Union (EU). The official Greek data for October sees Greece overtake Spain as the country with the highest unemployment rate in Europe. The

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IMF warns of instability in the global financial system

In its latest Global Financial Stability Report, published every six months, the International Monetary Fund (IMF) said the global financial risks have increased in the past six months despite the measures taken by the policymakers to make the financial system

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Germany warns it could veto Greek aid

According to a senior lawmaker, if Athens fails to comply with the terms of previous rescue packages, Germany will block any new aid to Greece. Michael Fuchs, the deputy head of Chancellor Angela Merkel’s conservative party, has said that Berlin

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Eurozone Crisis: Unemployment rate at record high

Eurostat reported on Tuesday that the Eurozone unemployment is at a record high of 11.2%, leaving 17.8 million people out of work. This makes it the highest since the euro was formed in 1999. The increase, being the 14th in

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Mario Draghi: ECB ready to act if necessary

The European Central Bank (ECB) is willing to provide support to the Eurozone’s banking system if need be, its president Mario Draghi has said. Mr. Draghi said that while financial authorities are ready to act if necessary, it is on

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Eurozone set-up unsustainable, says Draghi

European Central Bank (ECB) president Mario Draghi says that eurozone leaders must decide what they want the bloc to look like in the future, because the current set-up is “unsustainable”. He said that the ECB could not “fill the vacuum”

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Lack of Trust Hurting Greek Economy

While Greece’s financial stability is the most obvious and immediate concern, confidence—or a lack thereof—is a major issue and a growing part of the equation as the rest of the world’s leaders circle the wagons in an effort to rescue

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