HARTFORD, Conn.— With labor contracts for 12 of 13 Connecticut state employee unions set to expire at the end of June, some elected officials see opportunity for budget savings as they grapple with projected deficits this year and in the future. "A lot of what they're going to be looking at monetarily has almost been established," said House Majority Leader Joe...» Read More
For countries such as Greece, leaving the euro and returning to a national currency has been touted as a potential panacea for a return to competitiveness, growth and stability. However, Bulgaria, a country that devalued its currency to regain competitiveness is now seen in limbo in a "lost decade."
When the public sits up and notices the art market, it is usually when an anonymous buyer pays a mind-boggling sum to acquire a prized painting.
Ireland, seen by some as a relative success story for austerity, may want to access the funds, known as Outright Monetary Transactions.
The Austrian province of Salzburg did not lose money as feared from covert trades by a civil servant, but actually made money from its financial management, the province said on Wednesday.
Europeans' appetite for turkeys and Christmas getaways pushed up the cost of living in the euro zone in December, but the European Central Bank expects the rate of inflation to cool this year.
Europe's banks are have become less reliant on central bank funding, European Central Bank policymaker Ewald Nowotny told CNBC on Wednesday.
As southern euro zone countries groan under the weight of austerity measures, the Baltic country Latvia has been so enthusiastic and seemingly successful in its application of austerity measures that even the International Monetary Fund (IMF) has warned Latvia to not go too far.
An election on Sunday in Germany's second-biggest state will be a crucial test of Chancellor Angela Merkel's chances of winning a third term.
Ken Clarke has stepped up the pro-European rhetoric as the battle over Britain's future in the EU intensifies, warning that a referendum on the issue is a "gamble" and that David Cameron may be about to open the door accidentally to a British exit, the Financial Times reports.
Mariano Rajoy has called on Germany and other creditor countries in the euro zone to do more to stimulate growth, arguing that a switch to a more expansionary policy would boost economic recovery across the single currency area. The Financial Times reports.
Latin American markets have been a prime target for Spanish companies because of their language advantage, and giants such as Telefonica and Banco Santander have increased their exposure there to compensate for problems in their domestic market.
Protests, a mutiny among politicians calling for the prime minister's resignation, billions in bad debt, and an economic recovery on hold — just a few of the challenges facing Slovenia.
There will be no chance of a financial transactions tax, a short-selling ban, or any other business-unfriendly measure being implemented here if the U.K. is not in the EU. That is a strong reason to suspect that the City would thrive outside of the EU, Professor Moorad Choudhry writes.
Barclays and Deutsche Bank will take a knife to bonuses for investment bankers as they seek to tackle high costs, people familiar with the matter said.
Output at euro zone factories fell for the third straight month in November and against expectations of a rise.
Europe's peripheral economies face a re-run of the U.K.'s "winter of discontent", with high unemployment and stagnant growth, according to a report by Goldman Sachs.
Germany's economic performance declined in the fourth quarter of the year as industry reduced its production in line with weak European demand, the country's Economy Ministry said on Friday.
Ireland has returned to the debt markets, peripheral bond yields have fallen and equities have rallied to 22-month highs. What can possibly go wrong?
The ECB said on Thursday that recent economic surveys and indicators had shown signs of stabilizing, suggesting an improved picture later in the year.
The European Central Bank is expected to keep interest rates at a record low of 0.75 percent on Thursday, refraining from a cut as the euro zone economy shows some signs of stabilising and inflation still tops its target.