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France has a special responsibility as a euro zone heavyweight to take deficit cuts seriously, even though its budget deficit is above target, Bundesbank chief Jens Weidmann said in an interview published Sunday.
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SYDNEY/ TOKYO, May 7- The euro struggled to gain any momentum on Tuesday after the European Central Bank chief reiterated his readiness to take more action while the Australian dollar nursed losses as bears bet on the prospect of a cut in interest rates later in the session.
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It fell as far as $1.3053 after the head of the European Central Bank reiterated the central bank's readiness to cut interest rates again if needed. Initial support for the euro is seen around $1.3024, the 76.4 percent retracement of its April 24- May 1 rally and the 55- day moving average at $1.3021.
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MADRID, May 6- Europe risks a wave of anti-EU votes in 2014 European parliamentary elections unless a June summit of European Union leaders offers a concrete response to economic crisis, Italian Prime Minister Enrico Letta said on Monday.
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MADRID, May 6- Spain's Prime Minister and his Italian counterpart urged the European Union on Monday to take fast action to tackle high youth unemployment and to speed up the implementation of the euro zone banking union.
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ROME, May 6- The European Central Bank is closely watching incoming data and is ready to take further action if needed to address economic weakness, ECB President Mario Draghi said on Monday.
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*Analyst recommends Italy over Spain among riskier debt. By Marius Zaharia and Ana Nicolaci da Costa. LONDON, May 6- German Bunds held stable on Monday, with bets that the U.S. economic recovery will regain momentum offseting support from expectations the European Central Bank may ease policy further.
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WASHINGTON, May 6- Greece has made progress in reducing government debt and improving its competitiveness, but needs to follow through on structural reforms to ensure its economy recovers, the IMF said on Monday after a mission visit to the country.
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ROME, May 6- Italy's government plans to pass an emergency decree to fund state subsidies for idled factory workers, possibly with additional measures to favour hiring of unemployed youth, Economy Minister Fabrizio Saccomanni said on Monday.
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WASHINGTON, May 6- Greece has made progress in reducing government debt and improving its competitiveness, but needs to follow through on structural reforms to ensure its economy recovers, the IMF said on Monday after a mission visit to the country.
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Spain's bailout bill could rise, some bankers and analysts fear, as the worsening economy threatens the "bad bank" and the government's attempt to sell off nationalized lenders.
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LONDON, May 6- Business growth flagged in China, recession dragged on euro zone companies, and even U.S. corporate growth slowed in April, according to surveys that bucked a stronger trend in U.S. jobs data.
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LONDON, May 6- Business growth flagged in China, recession dragged on euro zone companies, and even U.S. corporate growth slowed in April, according to surveys that bucked a stronger trend in U.S. jobs data.
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*Analysts recommend Italy over Spain among riskier debt. LONDON, May 6- German Bund futures crept higher on Monday as data painted a gloomy picture of the euro zone economy but gave holiday-thinned markets little direction.
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*Thin trading volumes as UK market closed. PARIS, May 6- European stocks stayed within touching distance of multi-year highs in thin trading on Monday, bolstered by stimulus measures from central banks that could drive further gains even as the economy struggles.
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*Thin trading volumes as UK market closed. PARIS, May 6- European stocks stayed within touching distance of multi-year highs in thin trading on Monday, bolstered by stimulus measures from central banks that could drive further gains even as the economy struggles.
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MADRID, May 6- Spain's bill to bail out its banks may yet rise, some bankers and analysts fear, as a worsening economy hampers the government's early attempts to sell off nationalised lenders and threatens the "bad bank" housing their rotten property deals.
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MADRID, May 6- Spain's bill to bail out its banks may yet rise, some bankers and analysts fear, as a worsening economy hampers the government's early attempts to sell off nationalised lenders and threatens the "bad bank" housing their rotten property deals.
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*Sales volumes in Spain fall 10.5 percent y/y. BRUSSELS, May 6- Retail sales in the euro zone fell for the second month in a row in March, underlining the bloc's struggle with record joblessness and restricted credit for consumers and businesses.
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BERLIN, May 6- Euro zone sentiment improved in May as investors' views on the outlook for the currency bloc steadied following two months of declines sparked by uncertainty in Cyprus and Italy. Sentix said an inconclusive election result in Italy and an international rescue package for Cyprus had weighed on the euro zone index in the previous two months.
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SYDNEY, May 6- Two of Australia's biggest building companies have dealt a blow to hopes that commercial and housing construction could help rebalance the faltering economy away from the overweight and slowing mining sector.