Euro Zone Economy Shrinks 0.2% in First Quarter
PARIS — The euro zone economy shrank more than expected in the first three months of 2013, official data showed Wednesday, marking a sixth consecutive quarter of decline as France returned to recession and Germany marked time. The 17-nation euro zone contracted by 0.2 percent from the last three months of 2012, Eurostat, the statistical [...]
Economy The next crisis candidate: Italy After Spain, Italy is now under increased pressure. The Austrian finance minister believes the eurozone’s third-largest economy will have to ask the EU for financial help. Following Spain’s financial tribulations, it is now Italy’s turn. The eurozone’s third-largest economy will be forced to ask the EU for financial help, [...]
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EUROPEAN UNION Opinion: Merkel’s only option is more Europe The eurozone debt crisis has raised existential questions about the future of the European project. Chancellor Angela Merkel believes that the only answer is more unity, says DW’s Peter Stützle. For Helmut Kohl, the case was crystal clear. Raised in the Franco-German border region in post-war [...]
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(Reuters) – Spain said on Tuesday that credit markets were closing to the euro zone’s fourth biggest economy as finance chiefs of the Group of Seven major economies conferred on the currency bloc’s worsening debt crisis but took no joint action. Treasury Minister Cristobal Montoro sent out a dramatic distress signal about the impact of [...]
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(Reuters) – Finance chiefs of the Group of Seven industrialized powers hoping China can step in to rescue the euro zone must look elsewhere for a white knight as Beijing increasingly focuses on domestic issues this year. The G7 policymakers and some members of the wider G20 will hold an emergency teleconference on the euro [...]
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