Antonia Matthews
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The euro zone economy will shrink by 0.4 percent this year and grow 1.2 percent next year, the European Commission said on Friday, but the recovery is expected to be too slow to reduce joblessness.
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A former aide to Christine Lagarde has come under suspicion of attempting to influence a decision on the trajectory of the high-speed train line to prevent it from cutting through his mother's garden.
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A group of 100 German academics, trade unionists and politicians is calling for a 30-hour working week with full pay, German daily Tageszeitung reported on Monday, with the petitioners arguing that a shorter working week is the best way to address rising unemployment.
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Business leaders and policymakers cautioned against complacency amid optimism that the euro zone is emerging from the crisis.
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Bank of Canada Governor Mark Carney warned against an emerging consensus among delegates at the World Economic Forum in Davos that the worst of the euro zone debt crisis was over.
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"I'm very confident that we will do the Muhammad Ali thing in round 8…Wednesday is round 8," RIM's CEO said at a debate in Davos. Ali won a fight with a knockout in the eighth round.
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Yahoo CEO Marissa Mayer is confident that her company will be able to capitalize on the explosion in mobile communication, saying Yahoo will focus on strong partnerships with Apple, Google and Facebook.
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European Central Bank President Mario Draghi said on Friday that financial markets are experiencing "relative tranquility" at the start of this year and all the indices point to a substantial improvement of financing conditions.
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German Chancellor Angela Merkel urged European nations to continue the economic reforms they have begun and argued that the debt crisis offered an opportunity for the bloc to become more competitive.
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Outgoing Italian Prime Minister Mario Monti defended his track record in leading Italy through the European financial crisis and told delegates at Davos that the country had regained credibility in the eyes of investors.