Tag: euro zone

The challenge for Europe is to decide what to tell markets, to give them a good reason to regain trust in the eurozone’s credibility, Jean Pisani-Ferry spells out three ways to do so.

US Treasury Secretary Timothy Geithner will attend a meeting of eurozone finance ministers in Poland on Friday, as fears of a potential Greek debt default hit Europe's banking sector. Meanwhile, Germany and the EU are trying to reassure jittery markets.

Despite the Italian finance minister's reassurances that a crackdown on tax evasion will provide enough revenue to replace the levy on high earners dropped from Rome's austerity package, employers' group Confindustria has labelled the government's plan "weak and inadequate" and expressed concern about how Italy's economic problems are being handled.

Political leaders failed to halt a global stock market rout that gathered steam yesterday (8 August) as investors lost confidence that Europe and the United States can rein in their budgets quickly and fear spread of a double-dip recession.

Leaders from EU powerhouses Germany and France will hold talks today (5 August) after a global market rout roused fears that Europe's debt crisis is spinning out of control and the US recovery is stalling.

The following passages are excerpts from 'European Economic Integration', a new book by senior Romanian diplomat Radu Şerban. His publication analyses from a Romanian perspective the state of Europe's economy, looking into prospects for growth, a 'Tobin tax' on financial transactions and the role of ratings agencies among other issues.

The euro zone is facing a systemic crisis, but exit or default are not solutions and a new compromise is needed between member states and financial investors, writes Maria João Rodrigues, professor of European Economic Policies at the Université Libre de Bruxelles and a policy advisor to the EU institutions.

Debt-stricken Greece returned to capital markets on Monday (29 March) for the first time since eurozone leaders agreed to give it a financial safety net. The country hopes to raise €5 billion from the issue while borrowing costs remain high.