GO
Loading...

PIIGS

More

  • Greeks get 8 years to clear austerity tax bill Friday, 24 Oct 2014 | 3:29 PM ET

    ATHENS, Greece— Parliament has approved draft legislation that would give distressed Greeks more than eight years to settle unpaid taxes imposed under the country's austerity measures. Despite a steep rise in unemployment and extensive wage cuts, Greeks have been hammered with additional taxes, levied under bailout agreements between the country and...

  • *Italy, France want more spending room despite EU budget rules. With a recovery coming to a halt in the second quarter and depressed prices reflecting near record unemployment, France and Italy want to shift away from the spending cuts that marked the bloc's response to the 2009-2012 crisis. France and Italy are pushing for more spending room in their budgets in...

  • *Italy, France want more spending room despite EU budget rules. BRUSSELS, Oct 24- France and Italy renewed their commitment to reform their economies on Friday in the hope of winning more time to bring their public finances in order but the ECB's president warned more needed to be done to avoid "a relapse into recession". After the bloc's revival came to a halt in the...

  • *Italy, France want more spending room despite EU budget rules. BRUSSELS, Oct 24- France and Italy renewed their commitment to reform their economies on Friday in the hope of winning more time to bring their public finances in order but the ECB's president warned more needed to be done to avoid "a relapse into recession." After the bloc's revival came to a halt in the...

  • Italian court acquits Dolce&Gabbana in tax case Friday, 24 Oct 2014 | 7:11 AM ET

    MILAN— Italy's highest court acquitted Domenico Dolce and Stefano Gabbana of tax evasion Friday in a case that created such public acrimony that the designers closed their Milan stores in protest for several days last year. The Court of Cassation in Rome overturned two lower court convictions, ruling that the designers committed no crime.

  • Rapid UK economic growth slows slightly in 3rd quarter. LONDON- Britain's rapid economic recovery eased as expected during the third quarter, as services output growth slowed and manufacturing expanded at the weakest pace in 18 months, official data shows. BRUSSELS- France and Italy make fresh commitments to reform to persuade Germany and the European...

  • Spanish jobless figure drops as economy picks up Thursday, 23 Oct 2014 | 3:32 AM ET

    MADRID— Spain's unemployment rate dropped to 23.7 percent in the third quarter from 24.5 percent in the previous three-month period thanks to a recovering economy and a bumper summer tourism season, official statistics showed Thursday. The number of jobless people fell by 195,200 July through September, leaving the total number of unemployed at a rounded...

  • DIARY - Top economic Events to Nov 4 Wednesday, 22 Oct 2014 | 8:01 PM ET

    Treasury Under Secretary David Cohen speaks on "Disrupting ISIL's Money Trail" before the Carnegie Endowment for International Peace in Washington- 1400 GMT. LONDON- Bank of England Deputy Governor Ben Broadbent gives a speech on monetary policy outlook to Society of Business Economists- 0805 GMT. OTTAWA- Bank of Canada Governor Stephen Poloz and Senior...

  • DIARY -Top Economic Events to Nov 3 Tuesday, 21 Oct 2014 | 8:01 PM ET

    WASHINGTON- Federal Reserve Board holds open meeting to discuss a final rulemaking requiring sponsors of securitization transactions to retain risk in those transactions- 1930 GMT. LONDON- Bank of England publishes minutes of latest Monetary Policy Committee meeting. OTTAWA- Bank of Canada Governor Stephen Poloz and Senior Deputy Governor Carolyn...

  • LONDON, Oct 19- Evaporating inflation and slowing growth have put financial markets into such a spin that they could inflict further damage on the world economy. With the Fed set to turn off its money taps at the end of this month, investors appear to have woken up to poor growth prospects in much of the world, something International Monetary Fund chief Christine...

  • Samaras said Athens was talking with its lenders about what should happen if Greece succeeds in leaving its bailout programme by the end of December, a year ahead of schedule, as Greek officials hope. He sees one option as a credit line that Athens could tap post-bailout should it fall prey to future market turmoil. But the details of any such credit line have yet to...

  • European shares post biggest daily gain in three years Friday, 17 Oct 2014 | 12:37 PM ET

    LONDON, Oct 17- A key pan-European equity index posted its biggest daily gain in three years on Friday as stronger U.S. data fueled a rebound from recent sharp losses and speculation about monetary easing stabilized lower-rated euro zone bonds. The index extended gains after a widely followed survey showed U.S. consumer sentiment rose in October to the highest...

  • Greek eyes precautionary credit line after bailout Friday, 17 Oct 2014 | 10:22 AM ET

    ATHENS, Greece— Greece's prime minister said his government is in talks with rescue lenders over a possible precautionary credit line to ease the country's exit from its 240 billion euro bailout program. Antonis Samaras, speaking to reporters Friday at a summit in Milan, said the credit line was "an item negotiation." He did not clarify whether the credit line...

  • *Concern that Germany and ECB will do too little too late. PARIS, Oct 16- After a two-year siesta, the euro zone is back in the financial markets' firing line due to stagnating growth, low inflation, budget problems in France and Italy and rising political risk in Greece, where the bloc's debt crisis began in 2009.. But four overlapping factors have rekindled anxiety...

  • *Faltering euro zone economy, slower growth in China pose biggest risks. Indeed, the biggest danger for the world economy in the coming year is deflation or another recession in the euro zone, followed closely by the risk of slower growth in China, according to polls conducted globally over the past week. "Especially, the recent weakening of growth in emerging...

  • *Ireland to lead peripheral economies. Oct 16- It is still unclear whether the European Central Bank's stimulus measures will have a material impact on inflation, according to economists in a Reuters poll, who said sovereign debt purchases could help boost the euro zone economy. The currency bloc is stuck in a quagmire of weak growth and falling inflation with...

  • *Concern that Germany and ECB will do too little too late. PARIS, Oct 16- After a two-year siesta, the euro zone is back in the financial markets' firing line due to stagnating growth, low inflation, budget problems in France and Italy and rising political risk in Greece, where the bloc's debt crisis began in 2009.. But four overlapping factors have rekindled anxiety...

  • *Greece ready to forego 12 bln euros remaining in IMF bailout. *Euro zone reluctant to remove IMF from supervising Greece. They also said Europeans were resisting a push by Athens to end borrowing from the IMF, which is unpopular in Greece and causing political problems.

  • Greek stocks slide     Wednesday, 15 Oct 2014 | 1:33 PM ET

    CNBC's Michelle Caruso-Cabrera reports on the performance of the PIIGS. Greece saw its worst 1-day loss since the height of its financial crisis.

  • Bund yields hit new lows as euro zone outlook weakens Wednesday, 15 Oct 2014 | 7:13 AM ET

    *Fitch places France's AA+ ratings on negative watch. LONDON, Oct 15- German Bund yields fell to a record low on Wednesday as worries over a deteriorating euro zone economic outlook, fed by another credit rating blow for France, and "free falling" inflation expectations dominated the market. Yields jumped in Greece, where investors are worrying about the risk of snap...