The euro zone needs to push ahead with its financial sector reform plans and create a centrally managed and funded body to handle troubled banks, a European Central Bank policymaker said on Friday. "Europe needs to move towards a 'financial union', with a single euro area authority responsible for the supervision and resolution of large
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A Chinese trade complaint launched on Friday against U.S. countervailing duties on Chinese products relates to 22 products and affects Chinese exports to the United States worth $7.3 billion collectively, China's mission to the World Trade Organization said in an emailed statement.
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This week, Europeans can forget about the debt crisis and politics for a moment, and throw themselves into rooting for their home country or favorite artist. Eurovision 2012 is under way, and about half a billion viewers are expected to tune in for the finale on Saturday. Here are the finalist: United Kingdom Hungary
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The euro wallowed near two-year lows early on Friday while European shares edged up, as uncertainty over the fate of Greece coupled with this week's disappointing euro-zone and Chinese economic data curbed any appetite for riskier assets. The euro was down 0.1 percent at $$1.2540, but has lost 1.78 percent this week after on Thursday
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A total of 92.1 % of bathing waters in the European Union meet the minimum water quality standards set by the Bathing Water Directive, according to a report of the European Environment Agency (EEA) and the European Commission in the latest annual Bathing Water Report. “Good news; if you're planning a beach holiday in Europe
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Chairman of the Board of Directors of Hellenic Bank IN Cyprus Andreas Panayiotou has said that the Hellenic Bank recorded losses amounting to 87 million euro, before taxation, for the year ending December 31, 2011 compared with earnings of 15 million euro in 2010, following the impairment of Greek Government Bonds. In his address at
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Istanbul's efforts to host the 2020 Olympics are a "priority", the bid chief said on Thursday after the city made it into a three-horse race for the Games despite Turkey also wanting to hold the 2020 European soccer Championship. Istanbul, Madrid and Tokyo are in the running to host the Games after Doha and Baku
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The U.S. dollar climbed to a 20-month high and safe-haven German bonds set record low yields, after data showed Europe's economic woes intensifying as business confidence is undercut by talk of a Greek exit and slow progress in tackling the debt crisis. Private-sector factory activity in China also faltered in May as demand for exports
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A power struggle between Germany, France and Spain is set to leave a seat vacant on the European Central Bank's six-member board in the middle of a potentially devastating crisis for the currency that the bank was created to oversee. Spain's Jose Manuel Gonzalez-Paramo is due to leave the ECB board, which runs the bank
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A proposal to levy a tax on cats and dogs that stunned Italy on Friday turned out to be all bark and no bite after a wave of popular anger saw it withdrawn on the same day it was made public. Italy was abuzz for hours after local media reported that a parliamentary commission had
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