Greece has given a referendum on the European scheduled for early December. But what would happen if the country went completely in the euro area? Let us go further. Imagine that Greece is no longer part of the euro area in the coming months. Output desired by some but feared by others. This scenario unthinkable a few weeks [...]
The business service firms in the euro zone shrank more markedly than expected in October, the debt crisis has sealed new business, increasing the risk of another recession Friday show monthly PMI surveys. The debt crisis, which hurts companies in the euro area, has experienced dramatic new twists in recent days with the political crisis [...]
The European Central Bank (ECB), against all odds, cut interest rates a quarter point Thursday, saying its new president that the eurozone could enter a recession “moderate” in late 2011 . Mario Draghi took office Tuesday, right in the maelstrom of the euro area with the return to the front of the stage of the [...]
The darker the less unfavorable, here are the possible scenarios for Greece and the euro area in preparation for the referendum on the rescue of the country. The announcement of the holding of a referendumon the implementation of bailout European Greecehas been a bombshell. And for good reason, while the euro area is in search of stability to control its [...]
“The contraction in manufacturing activity in the Eurozone accelerated in October,” is the title of the latest survey by the Markit Economics published on Wednesday. The final sector PMI stood below the 50, boundary between the zone of expansion and contraction, and this for the third consecutive month to 47.1 against 47.3 in the flash estimate. This [...]
French consumer confidence rebounded in October despite the financial crisis, not compensate for their loss of confidence in September or dissipate their long-term depression, say economists. Consumer confidence has taken two points in October to 82 points, making up some ground lost in September (-5 points) when the indicator was at its lowest level since [...]
The German government has significantly lowered its growth forecast Thursday for next year, 1% against a previous estimate of 1.8%, announced the Ministry of Economy. The figures, which had already filtered Wednesday, reflecting particularly the darkening of the situation weighed down by the debt crisis that has shaken Europe. Growth will stand at 2.9% this [...]
The problem in Italy is not so much the budget deficit higher than the chronic weakness of its growth and forced Rome to adopt austerity measures as its economy faces a further slowdown may be against-productive. Given the sharp rise in bond yields in Italy, which threatened to spread the crisis of debt in the eurozone, [...]
Up to six on a European bank subject to the stress test should fail, said on Tuesday the euro area sources familiar with the matter. These results, including the European Central Bank hopes that they will persuade investors that the EU is finally clear about its banking problems, should encourage those states reluctant to support [...]
The housing industry is still caught up in trouble as prices continue to plummet and crash sales. This is caused by first-time buyers are fleeing making sellers are frustrated and builders are depressed. Lenders are, likewise, sceptical about approving new loans. Economist Karl E. Case, said, “The numbers are gloomy, no question…We’re bouncing along a [...]
