Businesses want to know that the UK has safeguards against the Eurozone, says head of BCC February 10, 2015 The head of the British Chambers of Commerce (BCC) has said he would like Britain to be protected against getting closer to the Eurozone At the annual BCC conference today, John Longworth said the next government “must set out what it will do to protect the United Kingdom against the prospect of being [...]
A Greek exit from the Eurozone is unavoidable, warns ex-head of US central bank February 8, 2015 Greece will eventually have to leave the Eurozone, according to the ex-chairman of the Federal Reserve. Alan Greenspan, who was head of the US central bank from 1987 to 2006, told the BBC he did not believe the other members would continue to make concessions for the struggling nation. Since the radical left-wing [...]
European Commission raises Eurozone growth forecast to 1.3 per cent on crumbling oil prices and weak euro February 5, 2015 The European Commission nudged up its official growth forecast for the single currency bloc today, citing crumbling oil prices, a weaker euro and the European Central Bank's (ECB) generous stimulus package unveiled earlier this year. The Eurozone will grow at a rate of 1.3 per cent this year and 1.9 per cent in 2016, the [...]
Greek fallout hits Wall St in final minutes – New York Report February 4, 2015 Eurozone worries, caused by a stand-off between Greece and one of its creditors in the dying minutes of trade led the S&P 500 and the Nasdaq lower yesterday. The benchmark index added to losses late in the session after the European Central Bank (ECB) abruptly cancelled its acceptance of Greek bonds in return for funding. [...]
Eurozone gets a lift from factory sector growth February 2, 2015 A SPARK of good news emerged from the Eurozone’s manufacturers yesterday, while separate data from the UK showed British factories enjoying economic growth. The latest purchasing managers’ index (PMI), compiled by Markit, showed that the Eurozone manufacturing sector’s rate of growth rose by 0.4 percentage points in January, to 51. Any figure above 50 indicates growth. [...]
Greece-Eurozone standoff presents “greatest risk to economy” George Osborne warns as Yanis Varoufakis visits London February 2, 2015 The standoff between Greece and the Eurozone presents the greatest risk to the global economy, chancellor George Osborne has said. Osborne, who met Greek finance minister Yanis Varoufakis in London today, said both sides needed to consider how they worked in future, or risk derailing growth, both globally and specifically within the UK. Varoufakis [...]
Eurozone manufacturing sector is growing at its fastest rate for six months February 2, 2015 As many headline stats for the Eurozone continue to cause headaches for markets and governments alike, there was a tiny spark of good news from the bloc‘s manufacturers. The purchasing managers’ index (PMI), compiled by Markit Economics, showed that the manufacturing sector’s rate of growth rose by 0.4 percentage points in January, to 51. Any [...]
32 charts showing every unemployment rate in every Eurozone economy January 30, 2015 The Eurozone has finally had some good news: unemployment is down to 11.4 per cent, its lowest rate since August 2012. Although admittedly, 11.4 per cent would cause a mutiny in the UK. The figure’s drop was relatively small: it was 11.5 per cent in November and 11.8 per cent in December. And chipping fractions [...]
Eurozone slips further into deflation January 30, 2015 The Eurozone slipped further into deflation in January, with inflation falling to -0.6 per cent, down from -0.2 per cent in December. The figure is a record low for the bloc, and worse than analysts had feared: they had expected a fall of -0.5 per cent. Of course, the fall was, in part, caused by [...]
Mark Carney calls on Germany to foot Eurozone’s risk January 28, 2015 Eurozone countries should share more risks and allow taxpayers’ money to circulate more freely as it does between countries in the UK, Mark Carney said in an unusually outspoken address last night. The Bank of England governor hinted that Greece’s troubles would be less severe if it could access more German money, comparing the situation [...]