S&P sees eurozone slowdown continuing in 2020

S&P sees eurozone slowdown continuing in 2020

The continued weakness and slowdown in the eurozone economy is expected to lurch into next year, with lowering growth in the manufacturing sector taking a toll.

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Banks seek ECB reprieve

Banks seek ECB reprieve

Battered by years of low- interest rates, eurozone banks, including Irish lenders, are looking at a multi-billion-euro consolation prize if the ECB grants them an expected reprieve from its penalty charge on deposits, according to Reuters calculations.

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ECB hits out at bank bonuses

ECB hits out at bank bonuses

Several eurozone banks are falling short of the European Central Bank’s expectations by paying bonuses in cash, which fosters a short-sighted approach to management, the ECB’s top supervisor Andrea Enria has told a conference in Dublin.

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Draghi’s talk of stimulus weakens euro, boosts shares

Draghi’s talk of stimulus weakens euro, boosts shares

Medha Singh and Susan Mathew European Central Bank chief Mario Draghi’s dovish remarks — signalling that the ECB will ease policy again if inflation fails to accelerate — sent European stocks to six-week highs while news that the US and China would resume trade talks at the G20 summit also boosted sentiment.

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Eurozone economy is not far from recession this year

Eurozone economy is not far from recession this year

The eurozone is Ireland’s most important trading partner, taking one-third of our total exports.

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Irish saving rates among lowest in Europe at 0.35%

Irish saving rates among lowest in Europe at 0.35%

Irish banks offer among the lowest rates for savers in Europe, according to a survey by easyMoney.

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European economy 'totally dependent on German growth'

European economy 'totally dependent on German growth'

Europe could be at risk of persistent deflation, due to a dependence on the German economy. It has been warned.

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EU withdrawal wouldn't be as disastrous as claimed for UK, Johnson says

EU withdrawal wouldn't be as disastrous as claimed for UK, Johnson says

UK withdrawal from the European Union would not be as “cataclysmic” for British jobs as supporters of membership claim, London Mayor Boris Johnson claimed today.

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Labour MEP 'disturbed' by Government policy

Labour MEP 'disturbed' by Government policy

A Labour MEP has revealed she is disturbed by some of her party’s austerity measures in Government.

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Report highlights 'extremely negative impact' of austerity

Report highlights 'extremely negative impact' of austerity

The authors of a new report published today have claimed that austerity policies in Europe are not working.

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German economy endures worst performance since 2009

German economy endures worst performance since 2009

Europe's financial woes deepened today as its two largest economies reported faltering economies.

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IMF: Spain reforms almost complete

IMF: Spain reforms almost complete

The IMF says Spain's reforms under its financial-support programme are almost complete.

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Six million unemployed in Spain

Six million unemployed in Spain

Spain's unemployment rate has shot up to 26.02% with nearly six million people now out of work.

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Dijsselbloem voted president of eurozone finance ministers

The Dutch finance minister, Jeroen Dijsselbloem, has been elected as the new president of the group of euro area finance ministers.

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Rise in Greek unemployment continues

Rise in Greek unemployment continues

Greece's jobless rate rose to 26.8% in October.

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More Greeks to pay top rate of tax

More Greeks to pay top rate of tax

Greeks earning more than €42,000 per year will be taxed at a new top rate of 42% under a major new tax reform bill submitted to the country’s parliament.

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EU leaders upbeat after banks deal

EU leaders upbeat after banks deal

European Union leaders are pledging to create a body with the authority to restructure or close down banks in trouble and to give Greece desperately needed bailout funds.

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MEPs support Europe-wide banks tax

MEPs support Europe-wide banks tax

Plans for a Europe-wide tax on banks has won overwhelmingly support from MEPs - and triggered a new attack on British Chancellor George Osborne for not taking part.

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ECB leave main rate at record low

ECB leave main rate at record low

The European Central Bank is leaving its main interest rate at a historic low of 0.75%.

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Greece named most corrupt country in EU

Greece named most corrupt country in EU

A new survey shows that the countries worst hit by the European financial crisis are also seen as among the most corrupt in the European Union, an international watchdog group said today.

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Cameron: Stop tinkering with the EU budget

Cameron: Stop tinkering with the EU budget

British Prime Minister David Cameron today warned EU leaders to stop “tinkering” with Europe’s budget and make real savings in line with national austerity efforts.

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Kenny and EU leaders meet for second day of budget talks

Kenny and EU leaders meet for second day of budget talks

The Taoiseach is meeting with other European Union leaders in Brussels for a second day of talks on a new seven-year budget for the eurozone.

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'Very challenging agenda' as EU finance ministers meet for talks

'Very challenging agenda' as EU finance ministers meet for talks

Shoring up Europe's banking sector and strengthening oversight of economic policies are the issues at the top of the agenda during a meeting of EU finance ministers that is expected to expose divisions among the continent's powers.

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Eurozone ministers meet to discuss €30bn Greece bailout

Eurozone finance ministers are meeting in Brussels this evening to discuss whether to release €30bn in funds to Greece.

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Merkel: Debt crisis will last five more years

Merkel: Debt crisis will last five more years

German Chancellor Angela Merkel says Europe’s sovereign debt crisis will last at least five more years.

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Merkel: EU economics commissioner should have power to veto national budgets

Merkel: EU economics commissioner should have power to veto national budgets

German Chancellor Angela Merkel has said that the EU's top financial official should have the power to veto the national budgets of member states.

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IMF chief: Don't sacrifice growth for the sake of austerity

IMF chief: Don't sacrifice growth for the sake of austerity

Countries should not sacrifice growth for the sake of austerity, the head of the International Monetary Fund told global financial leaders today.

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IMF chief calls for urgent action on EU debt problems

IMF chief calls for urgent action on EU debt problems

The head of the International Monetary Fund on called today for urgent action to tackle Europe's debt problems and an approaching fiscal crisis in the US, warning that ripple effects from the global slowdown are being felt around the world.

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Taoiseach welcomes German court's ESM approval

Taoiseach welcomes German court's ESM approval

Taoiseach Enda Kenny has today welcomed the German constitutional court's decision to approve the €700bn ESM bailout fund.

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German court approves European Stability Mechanism plan

German court approves European Stability Mechanism plan

Germany's constitutional court has given the eurozone bailout fund the green light.

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Barroso calls for federation of European nation states

Barroso calls for federation of European nation states

Financial crisis is “fuelling populism and extremism” in Europe, a top European Union official said today.

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Supervisor role proposed for ECB

Supervisor role proposed for ECB

The European Commission wants the European Central Bank to be the supervisor for all the banks in the 17 countries that use the euro and have the power to fine institutions.

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German finance minister: Misinterpreting ECB move would be 'serious mistake'

German finance minister: Misinterpreting ECB move would be 'serious mistake'

Germany’s Finance Minister is insisting that the countries must not use the European Central Bank’s plan to buy unlimited amounts of government bonds as an excuse to let up on economic reforms and deficit-cutting.

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ECB pledges to buy unlimited amounts of government bonds

ECB pledges to buy unlimited amounts of government bonds

The European Central Bank has unveiled its most ambitious plan yet to halt Europe's financial crisis with a pledge to buy unlimited amounts of the government bonds of countries struggling to manage their debts.

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ECB unveils bonds crisis scheme

ECB unveils bonds crisis scheme

European Central Bank President Mario Draghi has unveiled a much-awaited programme to buy the government bonds of eurozone countries to help bring down their borrowing rates.

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Chinese premier warns Europe on finances

Chinese premier warns Europe on finances

Chinese premier Wen Jiabao called on Greece, Spain and Italy to embrace budget cuts and get their finances in order after meeting visiting German chancellor Angela Merkel today.

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European Commission calls on Spain to delay 'bad bank' plans

European Commission calls on Spain to delay 'bad bank' plans

The European Commission has asked Spain to delay by another week the plans to create a "bad bank", a fund which would pool much of its financial sector's soured property investments, so that experts in Brussels can review the project, the government in Madrid said.

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Germany rules out further concessions for Greece

Germany rules out further concessions for Greece

Germany's finance minister said in an interview published today that he can't see room for further concessions to Greece, insisting anew that the country must implement far-reaching reforms and cut its budget deficit.

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Germany and France 'committed to eurozone'

Germany and France 'committed to eurozone'

The leaders of Germany and France have added their weight to the battle to preserve the European single currency with a joint statement promising to do everything they can to stop the 17-country bloc from breaking up.

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Italy government bond rating drops

Italy government bond rating drops

Credit ratings agency Moody’s Investors Service has downgraded Italy’s government bond rating two notches on concern that deteriorating financial conditions in Europe will lead to a sharp rise in borrowing costs.

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German court could block euro pact

German court could block euro pact

An attempt to block to block the eurozone’s permanent rescue fund and Europe’s new fiscal discipline treaty will be heard by Germany’s high court next week.

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Noonan: EU deal will mean 'easier' budgets

Noonan: EU deal will mean 'easier' budgets

The Finance Minister Michael Noonan has said it is a good day for Ireland after the latest deal at the EU summit that will ease the pain of future budgets after this year.

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Markets up after surprise euro deal

Markets up after surprise euro deal

Financial markets rose today after European Union leaders threw a lifeline to the eurozone’s tottering banks.

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EU deal eases Spanish bond pressure

EU deal eases Spanish bond pressure

The interest rate for Spain’s benchmark 10-year bond has edged away from the dangerously high 7% mark following an overnight European Union agreement to funnel aid directly to struggling banks instead of via the country.

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Hope for Ireland on bank debt as Eurozone nations reach deal

Hope for Ireland on bank debt as Eurozone nations reach deal

Taoiseach Enda Kenny has said an EU agreement to bring down borrowing costs for indebted nations will ease the burden on Ireland’s taxpayers.

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IMF head: Euro under 'acute stress'

IMF head: Euro under 'acute stress'

The head of the International Monetary Fund warned the euro is under “acute stress” and piled pressure on Germany by advocating a series of measures to pull Europe out of its crisis that Chancellor Angela Merkel has strenuously opposed.

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Spanish banks 'may need €62bn aid'

Spanish banks 'may need €62bn aid'

Spain’s troubled banks could need as much as €62bn in new capital, independent auditors have calculated.

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Spaniards raiding farms for crops to sell at markets

Spaniards raiding farms for crops to sell at markets

Desperate Spaniards are raiding farm crops to sell at markets in an attempt to raise money as their economy falters.

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Spanish bailout fears resurface as markets slump

Spanish bailout fears resurface as markets slump

Spain's ability to manage its debt without an international bailout has been thrown into doubt after investors pushed its borrowing rates up to the level at which Greece, Portugal and Ireland had to seek help.

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Merkel warns Athens on rescue terms

Merkel warns Athens on rescue terms

Angela Merkel has warned Greece it cannot renegotiate its bailout as the nation prepares to vote in tomorrow’s crunch elections that threaten the future of the eurozone.

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Merkel not for turning on debt crisis

Merkel not for turning on debt crisis

German Chancellor Angela Merkel insisted today that Europe's debt crisis can only be solved by keeping a tight rein on government finances and introducing structural reforms.

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Cost of Spanish bonds hits 7%

Cost of Spanish bonds hits 7%

The cost of borrowing for Spain has reached a worryingly high level, making it unsustainable for the country to borrow money to service its debts.

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Italian fears over Spain contagion

Italian fears over Spain contagion

IItalian premier Mario Monti has seen nearly seven months of confidence-building efforts by his government wiped out today, when a debt auction revealed that the country’s borrowing rates are back near levels last seen in December.

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Barroso: Commission consensus on need for more EU integration

Barroso: Commission consensus on need for more EU integration

Further integration between EU states is required to deal with the economic crisis in Europe, Commission President Jose Manuel Barroso told the European Parliament in Strasbourg today.

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Martin: Spanish bank bailout deal bad for Ireland

Martin: Spanish bank bailout deal bad for Ireland

Fianna Fáil leader Micheál Martin said today that the deal done to bail out Spanish Banks is bad for Europe and bad for Ireland.

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Noonan welcomes Spanish bailout

Noonan welcomes Spanish bailout

Finance Minister Michael Noonan has said that today’s announcement is a collective response by eurozone member states to assist in resolving the difficulties in the Spanish banks.

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Spain to officially request bank bailout

Spain to officially request bank bailout

Spain will ask for a bank bailout from the eurozone, becoming the fourth and largest country to seek help since the single currency bloc's debt crisis erupted.

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Eurozone ministers to discuss Spain bailout

Eurozone ministers to discuss Spain bailout

Finance ministers from the 17 countries that use the euro will discuss a potential rescue for Spain today, a eurozone official said, as pressure grows on Madrid to sort out its troubled banks even if it means seeking a European bailout.

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Spain: Bailout move could come soon

Spain: Bailout move could come soon

Spain could decide within days or weeks to ask for a bailout for its troubled banking sector, making it the fourth eurozone country to seek help since the EU debt crisis erupted.

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Cyprus will also need bailout, warns bank boss

Cyprus will have to seek bailout funds from the European Union to recapitalise a banking sector pummelled by exposure to Greek debt and must prepare by taking tough steps to shore up its finances, the chairman of the country's second-largest lender said today.

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