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Economic Regions PIIGS

  • MADRID— Spanish Prime Minister Mariano Rajoy has promised to invest 4.2 billion euros in northwestern Catalonia whose regional government is pushing for independence from Spain mainly because of economic grievances. The Catalan government has long accused Spain of cheating the region economically. It pledges an independence referendum in September,...

  • Differences between Athens, the EU and the IMF over how Public Power Corp will relinquish its dominance of the Greek market are a stumbling block to concluding a bailout review that would unlock fresh loans for cash-strapped Greece. Under terms of Greece's 86 billion euro 2015 bailout deal PPC is obliged to reduce both to less than 50 percent by 2020..

  • BRUSSELS, March 24- The European Commission President Jean-Claude Juncker said on Friday euro zone lenders and Greece should reach a technical deal before a meeting of euro zone finance ministers on April 7. The IMF is pushing Greece to adopt such reforms as a condition to join an 86 billion euro bailout programme, so far funded only by euro zone creditors.

  • BRUSSELS, March 24- The European Commission President Jean-Claude Claude said on Friday euro zone lenders and Greece should reach a technical deal before a meeting of euro zone finance ministers on April 7. The IMF is pushing Greece to adopt such reforms as a condition to join an 86 billion euro bailout programme, so far funded only by euro zone creditors.

  • *Greece estimates it at 3.5 pct, higher than 0.5 pct target. BRUSSELS, March 24- Euro zone lenders estimate Greece had a primary surplus between 2 and 3 percent of its gross domestic product last year, much higher than the target set under its bailout programme and more than previously forecast, an EU official told Reuters on Friday. Under Greece's 86 billion euro...

  • LISBON, Portugal— Portugal's statistics agency says that the country's budget deficit fell to 2.1 percent last year, with the government saying the drop proved critics of its anti-austerity measures wrong. The National Statistics Institute said Friday the deficit dropped from 4.4 percent in 2015 due to spending cuts and higher tax revenue.

  • LISBON, March 24- Portugal slashed its budget deficit last year by more than half to 2.1 percent of gross domestic product, the lowest level since its return to democracy in 1974 and beating the 2.5 percent target agreed with Brussels. Official data showed on Friday the budget gap ended for the first time below the European Union's 3 percent threshold,...

  • BRUSSELS, March 24- By upsetting southern Europeans with remarks about drinking and womanising, Eurogroup president Jeroen Dijsselbloem has damaged his hopes of retaining his job and raised the possibility of a round of horse-trading over key economic posts in the euro zone. Known for his firm line on bailout terms for Greece, he was clear favourite until this...

  • The size of Greece's primary surplus- the budget balance before debt-servicing costs- is a source of contention between euro zone governments and the International Monetary Fund, which believes the surplus in 2016 was only 0.9 percent. Under Greece's 86 billion euro bailout programme, the third since 2010, Athens was supposed to reach a primary surplus of 0.5...

  • WELLINGTON, March 24- New Zealand Prime Minister Bill English on Friday announced a renewed push to promote free trade in his first major trade policy announcement since taking over as leader last December. New Zealand's $180 billion economy depends on exports, and the country lobbied hard in favour of the Trans-Pacific Partnership trade deal.

  • BRUSSELS, March 23- Italy should draw up ambitious reforms to address its economic weaknesses, one of the European Commission's vice presidents said on Thursday, increasing pressure on the government to press on with unpopular measures before next year's elections. Italy, alongside other EU states, is preparing to send Brussels details of its medium-term...

  • ROME/ BRUSSELS, March 22- Italy's plans to bail out two regional banks pose a dilemma for European regulators, who are still considering whether Monte dei Paschi qualifies for state aid, three months after giving a preliminary green light. Italy is already seeking to use the scheme for its fourth biggest bank, Monte dei Paschi, where the state is expected to inject...

  • ROME/ BRUSSELS, March 22- Italy's plans to bail out two regional banks pose a dilemma for European regulators, who are still considering whether Monte dei Paschi qualifies for state aid, three months after giving a preliminary green light. Italy is already seeking to use the scheme for its fourth biggest bank, Monte dei Paschi, where the state is expected to inject...

  • ROME/ BRUSSELS, March 22- Italy's plans to bail out two regional banks pose a tough dilemma to European regulators, who are still considering whether Monte dei Paschi qualifies for state aid, three months after giving a preliminary green light. Italy is already seeking to use the scheme for its fourth biggest bank Monte dei Paschi, where the state is expected to...

  • Italy hosts the annual meeting of seven of the world's biggest industrialised economies in the town of Taormina in Sicily on May 26-27. "Japan and Europe must collaborate with the United States to continue to hold high the free-trade flag," Abe said. As well as Japan, Italy and the United States, the G7 comprises Britain, France, Canada and Germany.

  • BERLIN, March 20- The European Stability Mechanism-- the euro zone's bailout fund-- should ultimately be turned into a European version of the International Monetary Fund, the head of euro zone finance ministers said on Monday in a German newspaper. He said that would also mean that Greece's current "troika" of lenders- the European Commission, European Central Bank...

  • BADEN-BADEN- European Central Bank Board Member Benoit Coeure and ECB President Mario Draghi will participate in G20 Finance and Central Bank Deputies meeting in Baden-Baden. BRUSSELS- European Central Bank Board Member Benoit Coeure will participate in Eurogroup meeting in Brussels, Belgium. NEW YORK- Chicago Fed President Charles Evans to speak before...

  • BADEN-BADEN- European Central Bank Board Member Benoit Coeure and ECB President Mario Draghi will participate in G20 Finance and Central Bank Deputies meeting in Baden-Baden. BRUSSELS- European Central Bank Board Member Benoit Coeure will participate in Eurogroup meeting in Brussels, Belgium. NEW YORK- Chicago Fed President Charles Evans to speak before...

  • LISBON, Portugal— Portugal's attorney general on Friday granted investigators another extension to conclude their 2 1/ 2- year investigation into a former prime minister who is suspected of corruption, money laundering and tax fraud. Socrates, who is 59, was Portugal's center-left Socialist prime minister from 2005 to 2011. Britain responded to a request...

  • LONDON- Bank of England Chief Economist Andy Haldane gives lecture at London School of Economics- 1820 GMT. NEW YORK- Chicago Fed President Charles Evans to speak before the New York Association for Business Economics. WASHINGTON- Federal Reserve Deputy Director for Division of Bank Supervision and Regulation Maryann Hunter will attend American Bankers...