The euro zone must boost growth and cut debt to regain investor confidence but it should also move towards a banking union, consider eurobonds and the direct recapitalisation of banks from its permanent bailout fund, the European Commission said on Wednesday as it laid out year-long recommendations. In documents outlining the economic strategy for the
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The world's biggest trade credit insurer, Euler Hermes, has stopped covering exporters shipping to Greece because of the mounting risk of them not getting paid in the event the debt-laden nation is forced out of the euro. "Euler Hermes has decided no longer to cover deliveries to Greece for the foreseeable future," a Euler Hermes
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UEFA have suspended Besiktas from European competitions for one year due to the Istanbul club's financial problems, Turkish media reported on Wednesday.
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People who had taken aspirin, ibuprofen and related painkillers – especially at high doses and for years at a time – were less likely to get skin cancer compared to those who rarely used those medications, according to a study from Denmark. The findings, which looked at records from more than 18,000 people from Denmark
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Greece's pro-bailout conservatives are leading ahead of a national parliamentary election next month that may determine whether the country remains in the euro zone, an opinion poll showed on Wednesday. Greece was forced to call the June 17 vote after an election on May 6 left parliament divided between parties that support and oppose austerity
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Asian shares slipped and the euro touched a 23-month low on Wednesday as fears mounted that Spain's banking woes will push its borrowing costs to unsustainable levels while signs emerged that China may take a cautious stance on economic stimulus. European shares were likely to follow Asian stocks lower, with spreadbetters predicting major European markets
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If someone's stomach is churning and cramping after eating a burger or club sandwich from a pop-up vendor at the London Olympics, Brian McCloskey plans to be among the first to hear about it. As the man in charge of disease surveillance during the Games, he says the greatest risk will be food poisoning from
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The 7th Cypriot-Russian Festival will take place on the 9th of June. Speaking at a press conference Tuesday, at the Limassol City Hall, Russian Ambassador Vyacheslav Shumskiy said that the Festival began years ago as a single cultural event, which has gradually evolved through the years to a tradition for the coastal city of Limassol.
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If Greece left the euro, living standards would plummet, incomes would be slashed by more than half, and inflation and unemployment would skyrocket, the National Bank of Greece warned on Tuesday. In a report released ahead of an election on June 17 that may determine whether the country stays in the single currency, the country's
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* Income up 25%, deposits stable, NPLs rise to 16% * The Cyprus Popular Bank, the island’s second-largest lender facing a state bailout unless it finds investors by the end of June, posted a 23% drop in its first quarter net profits to 54.8 mln euros, down from 71 mln in the same quarter last
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