The question does not address the future of the euro currency— which many believe is at stake— or the future of Greece's relationship with the 28- nation European Union. "Should the plan of agreement, which was submitted by the European Commission, the European Central Bank and the International Monetary Fund in the Eurogroup of 25.06. 2015 and is comprised of two...» Read More
The European Central Bank is still likely to raise the interest rate in September, as it had previously signalled, despite the turmoil in financial markets, Trevor Williams, Chief Economist at Lloyds TSB Corporate Markets, told "Worldwide Exchange."
France's economy minister and the head of the country's biggest listed bank, BNP Paribas, met on Friday to discuss the U.S. subprime mortgage crisis, which has affected some of BNP's funds.
The European Commission will review a voluntary code used by credit rating agencies as they appeared too slow in warning about problems in the U.S. subprime mortgage sector, a spokeswoman said on Thursday.
European Union regulators on Thursday set a Sept. 19 deadline to approve bids from a consortium led by Royal Bank of Scotland for Dutch bank ABN Amro Holding.
Annual inflation in the 13-nation euro zone currency area eased to 1.8 percent in July to stay well within the European Central Bank's target area even though economists expect it to raise interest rates next month.
Deutsche Telekom will cut more jobs when a self-imposed moratorium expires at the end of 2008, the company said Wednesday.
Euro zone economic growth slowed far more sharply than expected in the second quarter as industrial production stalled in June, data from the European Union's statistics office showed on Tuesday.
The European Central Bank lent banks 73.5 billion in extra funds on Tuesday, topping up their coffers for one week to help ease tensions in the euro-zone credit markets.
The European Central Bank on Monday injected another 47.67 billion euros ($65 billion) into the banking system in a bid to soothe rattled credit markets, but said that market conditions are "normalizing."
The European Central Bank made a second move to boost liquidity in the financial market Friday, putting 61.05 billion ($83.6 billion) into the euro money markets, having already injected 94.8 billion euros Thursday.
The European Central Bank injected 94.841 billion euros ($129.74 billion) into euro-zone money markets on Thursday to help calm to jittery markets roiled by credit problems.
General Electric won EU approval Friday to sell its plastic division to petrochemicals manufacturer Saudi Basic Industries for about $11.6 billion.
The European Central Bank kept its core lending rate at 4% Thursday, as widely expected, but a hike in September was signaled. The Bank of England also held steady, leaving rates at 5.75%.
Intel slashed prices below cost and gave huge rebates in an illegal attempt to drive its smaller competitor out of the market, the European Union said on Friday in charges against the world's largest chipmaker.
A European court confirmed on Tuesday that it will rule on Sept. 17 on whether software giant Microsoft broke European Union antitrust regulations.
European new car registrations rose 0.7% in June as demand in the countries that recently joined the European Union offset a decline in western Europe.
Schneider Electric won compensation from the EU on Wednesday for its refusal to let the company buy Legrand SA in 2001, the first time a court has ordered regulators to reimburse a business for losses due to a takeover ban that was later overturned.
Ryanair Holdings, the discount airline prevented from buying rival Aer Lingus, said Tuesday it will take to court EU competition authorities over their alleged failure to enforce competition rules fairly.
The European Union on Tuesday chose France's Dominique Strauss-Kahn to head the International Monetary Fund.
France's crusading new president will charge Monday into a carefully balanced set of economic rules designed to keep the currency his nation shares with 12 other countries stable and trusted.