LONDON— The International Monetary Fund says Iceland has repaid all of its remaining obligations— ahead of schedule— as the island nation presses on with its recovery following its economic collapse seven years ago. The IMF said Friday that Iceland repaid $332 million, ending the rescue program that began in the 2008 financial crisis when the...» Read More
Europe has made progress in reforms that have helped to rebalance the euro zone economy, but the currency bloc must continue with these efforts to restore confidence, says the EU's top economics official Olli Rehn.
France's finance minister said on Friday he was not campaigning to replace Jean-Claude Juncker as the new chairman of euro zone finance ministers.
Italian former Prime Minister Silvio Berlusconi gave a strong hint on Wednesday that he would stand in next year's election, saying he had been "besieged by requests" to run.
The European Central Bank is likely to keep interest rates on hold on Thursday but may offer clues on its policy path for next year with updated forecasts likely to present a grim outlook for the euro zone economy in 2013.
China will maintain its fine-tuning of economic policies in 2013 to ensure stable economic growth, state television quoted Chinese Communist Party chief Xi Jinping as saying on Tuesday.
Spain's number of jobless rose by 1.5 percent in November from a month earlier, or by 74,296 people, leaving 4.9 million people out of work.
Spain on Monday requested formally the disbursement of 39.5 billion euros of European funds to recapitalize its crippled banking sector.
The currency area's escape route hinges more on the pace of expansion in the United States and China, lifting the world economy, than on the policy mix in Europe, which will continue to favour austerity over growth in 2013.
China's economy picked up in November but a broader global recovery remains fragile and patchy, a clutch of surveys suggested, with activity elsewhere in Asia remaining subdued amid depressed demand from the developed world.
France backed away from a threat to nationalize a steelworks, saying it secured promises from ArcelorMittal to avoid any forced layoffs at the site.
Spain is likely to remain in deep recession until the end of next year, according to the Organization for Economic Co-operation and Development.
As uncertainty continues to grip the European markets, identifying surefire investment opportunities has become increasingly difficult, if not impossible. However, one analyst argues that high-end European real estate may be a viable option for today’s investors.
Greece's debt buy back will be voluntary and must succeed, the country's Finance Minister Yannis Stournaras said.
Bankia’s subordinated debt and hybrid securities holders will face large losses on their investments as part of a restructuring demanded by Brussels in return for eurozone aid. The FT reports.
Greece has hired Deutsche Bank and Morgan Stanley to conduct a voluntary buy back of its debt, a senior finance ministry official told Reuters.
Even as markets have been focused on a potential bailout for Spain, analysts say Italy, which is heading for a protracted recession, may also need aid in 2013.
Most Cubans have not paid taxes for half a century, but that will change under a new code starting January 1.
For a few hedge funds, Greek debt is turning into one of the trades of the year.
In Germany, 61 percent of all apprentices receive full-time employment at the company where they train. And the rate is growing, according to the latest statistics from the Association of German Chambers of Commerce and Industry, DIHK.
Even as some housing markets in Europe have cratered, Germany’s housing market has gone from strength to strength, particularly in its cities, as a result of low interest rates and high demand. Though the phenomenon has prompted fears that Germany was heading for a housing bubble, property experts told CNBC that the strongman of Europe was safe, for now.