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Olli Rehn, the European Union's top economic policy maker and scourge of debt-fueled budget deficits, is fed up with austerity.
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BRUSSELS, April 29- Confidence in the euro zone's economy fell for a second straight month in April and by more than expected, data showed on Monday, strengthening the case for a cut in interest rates this week. Likely of most concern, the pessimism has set in even in Germany, Europe's biggest economy, where economic sentiment worsened 2.3 points.
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GREECE PASSES REFORM LAW TO UNLOCK MORE EU/IMF RESCUE LOANS. Greek lawmakers on Sunday approved a reform law to unlock about 8.8 billion euros of rescue loans from the European Union and the International Monetary Fund. EURO ZONE SET TO APPROVE 2.8 BLN EUROS FOR GREECE ON MONDAY.
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SINGAPORE, April 29- Asia needs to guard against asset bubbles and its emerging economies must improve government institutions and liberalise rigid labour and product markets if they wish to reach the level of developed countries, the International Monetary Fund said on Monday.
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MADRID/ BRUSSELS, April 26- Spain acknowledged that its economy would shrink more than initially expected in 2013 and its budget deficit would be higher than promised, but the European Union gave it more time to bring the shortfall back down to bloc limits.
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When Daimler said this week that it had finally been caught in the downdraft of the European economic crisis, it was an ominous sign for all of the Continent, the NYT reports.
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MADRID, April 26- Spain acknowledged that its economy would shrink more than initially expected in 2013 and its budget deficit would be higher than promised, but the European Union gave it more time to bring the shortfall back down to bloc limits.
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MADRID, April 26- Spain acknowledged that its economy would shrink more than initially expected in 2013 and its budget deficit would be higher than promised, but the European Union gave it more time to bring the shortfall back down to bloc limits.
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LONDON, April 25- A heated debate about Europe's austerity drive flared back into life on Thursday with leading IMF and European Central Bank officials sharply at odds and Angela Merkel declaring that Germany required higher interest rates.
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LONDON, April 25- A heated debate about Europe's austerity drive flared back into life on Thursday with leading IMF and European Central Bank officials sharply at odds and Angela Merkel declaring that Germany required higher interest rates.
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MILAN, April 25- Italy is now in a position to ask the European Union to ease up on the country's deficit target, according to Pier Carlo Padoan, chief economist at the Organisation for Economic Cooperation and Development.
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*Russia adds 4.7 tonnes of gold to reserve* Gold fell combined $225 on April 12 and 15* Current weak price may spur more buying.
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"Pakistan faces difficult economic challenges and we urge the authorities to begin taking the necessary actions to stabilize the economy and lay the groundwork for future growth," Jeffrey Franks, the IMF mission chief to the country, said in a statement.
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SINGAPORE, April 24- Brent crude held above $100 a barrel on Wednesday, supported by fears that OPEC could cut oil supply if prices fall more, although data from major economies pointing to slower growth and fuel demand capped gains.
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SINGAPORE, April 24- Brent crude stayed above $100 a barrel on Wednesday, supported by fears that OPEC could cut oil supply if prices fall more, although data from major economies pointing to slower growth and fuel demand capped gains.
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TOKYO, April 23- The Bank of Japan should stick with its expanded quantitative easing to achieve its inflation target, but this may not be enough to foster sustainable economic growth unless it is coupled with structural reforms, the OECD said on Tuesday.
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*Dollar eyes 100 yen after G20 accepts Japan stimulus. LONDON, April 22- The dollar strengthened towards 100 yen on Monday and shares rose after the G20 accepted Japan's bold stimulus policies, helping to counter the gloom over the global growth outlook.
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*Mitsui Eng jumps 13.6 pct on report of merger talks Kawasaki Heavy. TOKYO, April 22- The Nikkei average climbed 1.9 percent to its highest close in almost five years on Monday, as the yen weakened after the Group of 20 leading economies stopped short of criticising Japan's expansionary monetary policies.
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WASHINGTON, April 20- Global finance officials on Saturday said monetary policy alone was not enough to restore confidence in the shaky global economy as they urged countries to take other steps to reinvigorate growth and create jobs.
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Leaders of the International Monetary Fund said an uneven global economic recovery is emerging, and policymakers must take more steps to foster swifter growth and job creation.
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WASHINGTON, April 20- Leaders of the International Monetary Fund on Saturday said an uneven global economic recovery is emerging, and policymakers must take more steps to foster swifter growth and job creation.