G20 states call on Eurozone to sort itself out September 21, 2014 FINANCE ministers from around the world used this weekend’s G20 meeting in Australia to demand European officials act promptly to get the Eurozone economy back on track. The ministers and central bank chiefs discussed financial regulation, tax avoidance and the ways they were going to add an additional 1.8 per cent to their collective growth [...]
Ireland economy booms 7.7 per cent despite ailing recovery in Eurozone September 18, 2014 Ireland’s economy grew by an exceptional 7.7 per cent in the year to June as it apparently missed the news that the recovery was stalling on the continent. Not only was it the fastest annual growth of any Eurozone member, but it had also the fastest quarterly growth at 1.5 per cent, according to the [...]
Relief for the eurozone as inflation stays stable at 0.4 per cent September 17, 2014 Finally, a bit of relief for eurozone watchers: figures published this morning show inflation in the 18-country bloc stayed at 0.4 per cent in August, rather than falling to 0.3 per cent as originally feared. The European Union's statistics agency revised its "flash" estimate upwards – but it remains the eurozone's lowest rate of inflation [...]
Sluggish Eurozone recovery hit by falling exports September 15, 2014 Worries about the Eurozone’s stuttering recovery worsened yesterday as new data showed weakening exports. A 0.2 per cent fall in goods export values and 0.9 per cent rise in import values from June to July narrowed the bloc’s trade surplus from €2.8bn (£2.2bn) to €1.7bn. Only economic powerhouse Germany showed signs of a widening trade [...]
OECD slashes its Eurozone growth forecast by a third September 15, 2014 The Organisation for Economic Cooperation and Development has cut its 2014 GDP growth forecast for the Eurozone by a third, from 1.2 per cent to 0.8 per cent. It also reduced its 2015 outlook for the area, from 1.7 per cent in May to 1.1 per cent now. In its interim economic assessment, [...]
British exports rebalance away from Eurozone September 9, 2014 British firms are weaning themselves off their historic reliance on sales to EU countries, finding alternative markets further afield instead, official figures showed yesterday. The sustained economic malaise in the Eurozone has pushed UK exporters to other countries, with sales to the US, and the UAE rising particularly sharply in July. Exports of goods to non-EU countries [...]
How incompetent policymakers have kept the Eurozone in perpetual crisis September 9, 2014 THE EUROZONE lurches into yet another crisis, with fears of deflation and a further drop in output. There are several dominant explanations as to why Europe has been unable to recover from the crisis. Depending on their tastes, most commentators subscribe to them either on their own, or in various combinations. One puts the blame [...]
Eurozone GDP: Stagnant in the second quarter, grew just 0.7 pc in the 12 months to July September 5, 2014 The ECB has released its revised second-quarter GDP figures showing the Eurozone grew 0.7 per cent in the 12 months to the end of July, with the EU 28 expanding 1.2 per cent. The quarter on quarter figures (seasonally adjusted) showed a stagnant single currency area, and a barely growing EU, which saw growth of [...]
As the ECB unveils rate cuts and asset purchase plans, can it save the Eurozone from disaster? September 4, 2014 Chris Williamson, chief economist at Markit, says Yes. Yesterday’s announcement by the European Central Bank (ECB) – that it’s cutting rates and will buy asset-backed securities and euro-denominated covered bonds from October – will help avoid disaster, but huge risks remain. The rate cuts will only have a marginal impact, and little is known about [...]
Eurozone service sector’s slowdown puts pressure on ECB to undertake quantitative easing September 3, 2014 The Eurozone’s services firms flagged a further slowdown in the troubled currency bloc’s growth yesterday, with surveys indicating that the region is growing at the slowest pace this year so far, putting pressure on the European Central Bank (ECB). The Eurozone’s composite purchasing managers’ index, collated by Markit, dropped to just 52.5 – the lowest [...]