The euro zone economy recorded its first ever contraction in the second quarter, pulled down by falling activity in its biggest economies, which could lead to a technical recession.
The euro zone economy appears to be taking a hammering as a key business survey released on Thursday painted a deteriorating picture, coming in well below analysts' expectations.
The European Commission wants to cooperate closely with the U.S. Securities and Exchange Commission (SEC) on the planned regulation of credit rating agencies, the German financial weekly Euro am Sonntag reported.
Euro-zone rates rose to 4.25% as the central bank fights inflation, but ECB President Jean-Claude Trichet's message was slightly dovish.
A petition to halt interest rate hikes in the euro zone notwithstanding, European Central Bank President Jean-Claude Trichet will in all likelihood boost interest rates when the policy makers meet Thursday.
The world's biggest central banks are pulling in opposite directions and it seems their efforts are only contributing to one thing: a weaker dollar. Vote for your preferred central banker.
Euro zone inflation jumped to a record high of 4.0 percent in June, cementing expectations the European Central Bank will raise interest rates this week despite slowing economic growth.
Inflation risks have increased in the medium term and the European Central Bank stands ready to counter inflationary pressures, ECB President Jean-Claude Trichet told the EU Parliament on Wednesday.
Germany may report a shrinking in its economy for the second quarter of this year and stagnation would probably be a positive outcome, Deputy Economy Minister Walther Otremba said on Tuesday.
Euro zone services and manufacturing activity both fell unexpectedly into contraction in June, a key survey showed on Monday, although the weakness may not be pronounced enough to deter an ECB rate hike in July.
Surging food and fuel prices are a key concern of European Union citizens, but EU leaders must be honest that there are no quick fixes to the problem, European Commission President Jose Manuel Barroso said.1st paragraph of story should go here
The Italian government approved a so-called "Robin Hood" tax on oil companies to fund aid for low-income households hit hard by increased food and energy prices.
Spanish truck drivers smashed windscreens and Portuguese truckers blocked roads on Monday as protests over rocketing global fuel prices spread across Europe.
European stocks slipped to their lowest close in six weeks on Wednesday, weighed by heavy losses in oil stocks, which tracked a sharp fall in the price of crude.
The European Central Bank's inability to raise rates may mean the time for a jump back into the dollar has arrived, as the full effects of the credit crunch still have to be felt in Europe, analysts told CNBC.com.
The European Central Bank's hawks must be aching to hike rates, but they will likely sit on their hands again and leave rates at 4 percent despite inflation rising to 3.6 percent in May.
Despite the credit crunch, standards for European leveraged loans -- used to fund private equity buyouts -- loosened in the first quarter of 2008, Standard & Poor's said.
European stocks ended higher on Tuesday, trimming some of the previous day's losses as Royal Bank of Scotland and UBS recovered, while a fall in oil prices helped bolster sentiment.
Sky-high fuel and food prices crashed the party when finance ministers flocked to Frankfurt to celebrate the inflation-fighting European Central Bank's 10th birthday on Monday, a milestone in Europe's monetary union.
Global food prices could rise further in the short term and keep rising over the longer term as supplies are unlikely to match increased demand, a European Central Bank note said.