Tumbling prices see Greece lead Eurozone into deeper deflation February 24, 2015 Deflation deepened to its most severe rate since 2009 across the euro area in January, with Greece recording the sharpest fall in prices. Annual inflation came in at minus 0.6 per cent across the bloc, according to figures published yesterday, down from 0.2 per cent in December. The rate has been dragged down by lower [...]
Liam Fox describes Eurozone as main threat to global financial future February 23, 2015 Former Conservative leadership candidate Liam Fox will tonight look to curry favour with his party’s eurosceptic wing by describing the Eurozone as the greatest threat to global financial stability. Speaking at the right of centre think-tank Parliament Street, Fox will say that “the euro was always a flawed project”, and warn that “if the euro [...]
How Greek game theory could lead to a win-win situation in the Eurozone February 20, 2015 Meetings to discuss the future of Greece are no playtime for the leaders of Europe, but that doesn't mean the country's finance minister isn't using game theory to ensure the best possible outcome for his strugging economy. Yanis Varoufakis was an academic and researcher of the technique before he went into politics. In [...]
Eurozone “personality clash”: German and Greek finance ministers come face-to-face once more February 20, 2015 The German and Greek finance ministers will meet for a third time this afternoon, as the struggle to reach an agreement on Greece's bailout package continues. Wolfgang Schaeuble and Yanis Varoufakis will come face-to-face in Brussels at 2pm, ready to lay out their opposing demands once more. While Greece wants to renegotiate its €172bn [...]
Why the risk of Gexit contagion to other Eurozone members is lower now than in 2012 February 19, 2015 As Eurozone leaders decide whether or not to grant Greece's request for an extension to its bailout loan, ratings agency Standard & Poor's (S&P) has suggested a Greek exit from the Eurozone would present a lower a risk of contagion to other Eurozone economies than it did in 2012. In a report published today, the [...]
Eurozone disarray as Greek talks collapse February 16, 2015 Greece's crunch meeting with its fellow Eurozone states collapsed amid more bitter sniping last night, with the deadline looming for both sides to reach an agreement over the Mediterranean country’s bailout. The head of a group of Eurozone finance ministers – known as the Eurogroup – insisted after talks broke down that the onus is [...]
Eurozone trade surplus lifts as imports tumble February 16, 2015 FALLING imports and rising exports of goods pushed the Eurozone’s trade surplus to a record high in December, official data showed yesterday. The surplus increased to €24.3bn (£18bn) in December, up from €13.6bn in a year earlier. Such a strong figure should boost GDP in the troubled currency area, but also reflects the weak demand [...]
Euro slides after Greece rejects Eurozone’s bailout offer as “unacceptable” February 16, 2015 Greece has rejected the Eurozone’s “unacceptable” opening bailout offer as talks between finance ministers in Brussels broke down without an agreement on Monday. Negotiations broke up after just four hours as Greece angrily rejected the proposal that it continue with the terms of its current €172bn (£128bn) bailout, triggering the euro to drop [...]
Greece banks on 11th hour Eurozone deal February 16, 2015 Greece’s maverick finance minister Yanis Varoufakis remains adamant a deal with creditors will be struck on the country’s finances today despite farcical negotiations last week ending without even an agreement on a joint statement. “Our resolute stance on totally logical matters will, in the final analysis, lead to a mutually beneficial convergence, even at the [...]
Eurozone GDP grew 0.3 per cent in the fourth quarter of 2014 February 13, 2015 After a fractious few days for Eurozone leaders, this should come as a relief: a growth in the 18-nation bloc rose to 0.3 per cent in the final quarter of 2014, a preliminary estimate showed this morning, beating analyst estimates of 0.2 per cent. Eurostat, the region's official statistics authority, said that puts total growth [...]