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Europe: Economy


  • Public Anger Over Europe’s Budget, and Wine Cellar, Bubbles Before Talks

    Amid wrangling over how much money the European Union spends at a time of grinding austerity across the Continent, Martin Ehrenhauser, an Austrian member of the European Parliament, lobbed a sobering question this summer at the union’s Brussels bureaucracy: How many bottles of booze does it have stocked in its wine cellars, the New York Times reports.

  • Hopes Rise of EU Budget Accord With UK Wednesday, 21 Nov 2012 | 11:15 PM ET
    European Union (EU) flags fly outside the the European Commission headquarters in Brussels.

    Hopes were rising in Brussels that an unlikely deal with the U.K. over the EU’s long-term budget was taking shape, although the chief negotiator was trying to resolve a deluge of last-minute complaints from other countries on the eve of what could be a gruelling summit. The FT reports.

  • Hit to Israeli Economy May Be Minimal: Fischer Tuesday, 20 Nov 2012 | 6:14 PM ET
    World ‘Close’ to Recession: Stanley Fischer

    The fighting between Israel and Hamas in Gaza is likely to have only a limited impact on Israel's economy if it ends quickly, Bank of Israel governor Stanley Fischer told CNBC’s "Closing Bell" on Tuesday.

  • Privatizing Greece, Slowly but Not Surely Tuesday, 20 Nov 2012 | 9:47 AM ET
    Privatizing Greece, Slowly but Not Surely

    As Greece redoubles its efforts to raise billions to cut its debt and stoke its economy, the move toward privatizing assets  faces daunting hurdles, the New York Times reports.

  • ‘Tide Turning’ Against France, Say Economists Tuesday, 20 Nov 2012 | 6:15 AM ET
    Why Playing Euro Zone’s Second Fiddle May Suit France

    As France loses its coveted AAA-rating, economists are questioning whether the tide is turning for a country that has enjoyed record low borrowing costs, and indeed whether the second largest economy in the euro zone is in jeopardy.

  • The Next Big Investment Theme: Billions of Women Tuesday, 20 Nov 2012 | 5:19 AM ET
    The Next Big Investment Theme: Billions of Women

    Women in emerging markets are becoming wealthier and their greater spending power represents a significant investment opportunity, according to a new report from Portuguese bank Espirito Santo.

  • The journalist responsible for publishing the “Lagarde List” of Greeks who allegedly avoided tax via Swiss bank accounts accused the country’s politicians of lying about the disappearance of the list in an interview with CNBC.

  • Spain Woos Foreigners to Thin Its Inventory of Unsold Homes

    Spain plans to offer residency permits to foreigners who buy houses priced at more than 160,000 euros ($203,845) as part of its efforts to revive a collapsed real estate market and divest itself of hundreds of thousands of unsold homes.

  • France Is Dealt Another Downgrade — Who Is Next? Monday, 19 Nov 2012 | 9:06 PM ET
    Tax Uncertainty Puts Muni Bonds Back in the Spotlight

    Ratings agency Moody's Investors Service stripped France of its prized triple-A credit rating on Tuesday, triggering worries the move could heighten the risk of a downgrade for other top-rated nations, including the United States and the single currency bloc’s largest economy Germany.

  • Why We Don’t Need QE or Euro: Czech Republic Monday, 19 Nov 2012 | 7:51 AM ET
    Why We Don’t Need QE or Euro: Czech Republic

    As countries with much larger economies try to contest slowing growth by pumping more cheap money into their financial systems, the Czech Republic is planning to avoid similar actions – and may put off its euro joining date as the single currency becomes less attractive.

  • Spain Seeks Investment From Latin America Monday, 19 Nov 2012 | 2:14 AM ET
    Spain Seeks Investment From Latin America

    Starting in the late 1990s, Spanish companies began a drive into Latin America that resulted in their takeover of some of the region’s most prized assets. Now, Prime Minister Mariano Rajoy of Spain wants the investment to flow in the other direction, the New York Times reports.

  • China's Strong Hand in Myanmar Under Threat? Monday, 19 Nov 2012 | 12:43 AM ET

    President Barack Obama flew into Myanmar on Monday, becoming the first U.S. head of state to visit the country - a former pariah state that has taken the world by surprise with speedy political and economic reforms in the past year after five decades of military rule.

  • EU Makes Budget Plans Without UK Sunday, 18 Nov 2012 | 10:14 PM ET
    European Union (EU) flags fly outside the the European Commission headquarters in Brussels.

    EU officials have begun work on a plan to create a long-term budget without the UK in a move that reflects mounting frustration that Britain’s demand for a spending freeze cannot be reconciled with the rest of the bloc. The FT reports.

  • Bond Investor Takes Big Punt on Ireland Sunday, 18 Nov 2012 | 9:16 PM ET
    Bond Investor Takes Big Punt on Ireland

    A prominent US bond investor has increased an already aggressive bet on Ireland’s recovery from the financial crisis, raising eyebrows among rival fund managers. The FT reports.

  • Obama to Spearhead Southeast Asia Push Saturday, 17 Nov 2012 | 12:16 AM ET
    Obama to Spearhead Southeast Asia Push

    Barack Obama will arrive in Bangkok on Sunday, the first leg of a three country tour that will include bilateral talks with Thai prime minister Yingluck Shinawatra and the first visit by a sitting US president to Myanmar. The FT reports.

  • France ‘Not Sick Man of Europe’, Says Paris Thursday, 15 Nov 2012 | 11:13 PM ET

    France’s socialist government seized on better than expected economic growth figures to reject concern that France could become the next focus of the euro zone crisis, insisting it is acting to reform the flagging economy. The FT reports.

  • In a Switch, Investors Are Buying European Bank Bonds Thursday, 15 Nov 2012 | 6:57 PM ET
    In a Switch, Investors Are Buying European Bank Bonds

    European bank debt, once an investment pariah, is suddenly popular. The NYT reports.

  • Why Bond Markets Are Dancing to Rajoy's Tune Thursday, 15 Nov 2012 | 9:16 AM ET
    Spain May Pay Price for Delaying Aid Request

    Spain's economy is sinking deeper into recession, experts agree that the country will miss its budget targets and a several ECB officials have said Spain urgently needs a bailout, yet the bond market is dancing to a completely different tune.

  • Samsung Trounces Apple in Smartphone Sales Wednesday, 14 Nov 2012 | 6:29 AM ET
    Will Electronic Device Sales Light Up the Holidays?

    Samsung sold more smartphones than Apple in the third quarter of 2012, as consumers postponed purchases in anticipation of the iPhone 5, new research showed on Tuesday, while Nokia slipped down the rankings to be overtaken by Blackberry maker Research in Motion.

  • Euro Zone Factory Output Falls by Most in Nearly 4 Years Wednesday, 14 Nov 2012 | 5:45 AM ET
    Euro Zone Factory Output Falls by Most in Nearly 4 Years

    Output from euro zone factories in September fell by the most since January 2009, dragged down by Germany's spluttering industry that is succumbing to the impact of three years of crisis.

Contact Europe: Economy


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