Asian shares, commodities and the euro fell on Friday on growing doubts that European leaders can forge a credible borrowing scheme to tackle the euro zone's debt crisis at a summit in Brussels. Losses accelerated and the Australian dollar, a bellwether for investor appetite for risk, dived after EU diplomats said it had been agreed
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Euro zone countries brought forward by one year to next July the launch of a permanent bailout fund and agreed, along with other EU states, to consider lending up to 200 billion euros to the IMF to help it fight the sovereign debt crisis. But leaders of the 17-country euro zone decided the European Stability
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The European Central Bank doused on Thursday hopes it will aggressively ramp up its bond-buying programme and allow the euro zone to lend money to IMF so it can help fight the euro zone debt crisis. ECB President Mario Draghi said new forecasts from the central bank showed the currency bloc's GDP could contract by
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A third of Germans have little or no trust in the strength of the euro, according to a survey published on Thursday on the eve of an EU summit aimed at ending a debt crisis that threatens the survival of the common currency. The poll, conducted by TNS Infratest for Europe's largest insurer Allianz, showed
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World stocks and the euro gained slightly on Thursday after the European Central Bank cut its main interest rate to a record low, but fears for what may emerge from a crucial EU leaders summit aimed at quelling the bloc's debt crisis limited moves. The ECB's 25 basis point rate cut was in line with
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First indications on possible hydrocarbon reserves in Block 12 of Cyprus’ Exclusive Economic Zone (EEZ) are expected some time around Christmas, Commerce, Industry and Tourism Minister Praxoula Antoniadou told the Cyprus Energy Forum, which takes place here on Thursday. The Minister reiterated President Demetris Christofias’ remarks that Turkish Cypriots as citizens of the Republic of
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When Italy's welfare minister shed tears in announcing an increase in the retirement age, people might have thought she was crying for a lost generation of European youth. For opinion polls show a strong perception that older workers deny young people jobs. Fortunately for millions of young unemployed across Europe, economists say the perception is
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England striker Wayne Rooney's ban at next years' Euro 2012 finals was reduced from three to two games following an appeal heard by UEFA on Thursday, Sky Sports News reported. Rooney was originally banned for three matches following his sending off in the 2-2 draw away to Montenegro in October for aiming a kick at
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Economic policy and energy matters are the main topics on the agenda of the two – day European Council, which begins today in Brussels. The Republic of Cyprus is represented at the Summit by President Demetris Christofias. Moreover, in the margins of the European Council, the Accession Treaty with Croatia will be signed. Regarding the
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Manchester United and Manchester City will begin 2012 scrapping with the also-rans of European football after ignominious Champions League exits as Basel, Olympique Lyon, Napoli and CASK Moscow grabbed the last four knockout round spots on Wednesday. Three-times winners and last year's runners-up United only needed a draw in Swiss club Basel's St. Jakob-Park stadium
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