Eurozone launches ESM as historic milestone in shaping monetary union LUXEMBOURG, Oct. 8 (Xinhua) -- The euro area on Monday launched its permanent bailout fund, the European Stability Mechanism (ESM), as a historic milestone in shaping the future of...
NEW YORK, July 24 (Xinhua) -- Moody's Investors Service on Tuesday cut the outlook for the credit rating of the European Financial Stability Facility (EFSF) to negative from stable, warning that the rescue fund would lose its Aaa rating. The rating a...
PARIS Stock markets and the euro currency dipped Tuesday after the international financial-rating agency Moody's lowered its credit outlook for Europe's strongest economy, Germany. New jitters are also surfacing over two shakier European economies, S...
The International Monetary Fund says the eurozone's debt crisis has reached a critical stage, and that European leaders need to move quickly toward greater financial unity. The IMF's executive board said Wednesday that the 17-nation currency union ne...
BRUSSELS, July 10 (Xinhua) -- Eurozone finance ministers agreed to bail out Spain by giving a first payment of 30 billion euros (37 billion U.S. dollars) to its reeling banks by the end of July, Eurogroup President Jean-Claude Juncker said here early...
LONDON, Jan. 16 (Xinhua) -- Ratings agency Standard Poor's lowered the AAA long-term issuer credit rating of European Financial Stability Facility (EFSF), eurozone's rescue fund, to AA+ from AAA on Monday. The ratings agency cited the now-reduced cre...
As European leaders attempt to defuse the continent's debt crisis, they are confronting contentious issues over national identity, vastly different economies and how much power should be centralized to control the spending of individual nations. The...
The European Central Bank (ECB) has raised interest rates to 1.5% from 1.25% in an attempt to cool inflation in the 17-nation eurozone. ECB president Jean-Claude Trichet said that inflation, now 2.7%, was likely to remain clearly above the ECB's 2% t...
BRUSSELS, Feb. 14 (Xinhua) -- Finance ministers of eurozone countries downplayed(不予重视) inflation risk in the European single currency club on Monday, despite the recent rises due to higher oil prices. Inflation（通货膨胀） in the euro a...
BRUSSELS, Jan. 14 (Xinhua) -- The eurozone trade balance with the rest of the world fell into deficit in November last year as imports rose more than exports, the European Union (EU)'s statistics（统计学） office Eurostat said on Friday. In Nove...
