Topic: Euro Zone

Europe must do more to end crisis: Canada c. bank

The head of Canada's central bank on Monday welcomed European efforts last week to address a deepening debt crisis but warned of much pain ahead for the eurozone and said EU nations must do more.European Union leaders from 26 of the 27 ...

U.S. firms build cash buffer to European crisis in Q3

WASHINGTON (Reuters) - U.S. companies sat on their largest pile of cash on record during the third quarter, providing a substantial buffer against any blow that might come from Europe's debt crisis, data from the Federal Reserve showed on Thursday.Non-financial corporate businesses ...

China expected to grow 8.9% in 2012: report

China will further relax credit restrictions next year as the world's second largest economy slows and exports decline due to woes in Europe and the United States, according to a state-run think tank.Gross domestic product is expected to expand 8.9 percent next ...

Paris, Berlin seek action on company, financial tax

PARIS (Reuters) - France and Germany want a new EU framework to speed up progress towards a common corporate tax base and a financial transaction tax as well as convergence of financial regulation and labor market policies, a Franco-German letter sent on ...

France vows powerful summit deal

PARIS (Reuters) - The leaders of France and Germany will not leave this week's EU summit until a "powerful" deal is reached to arrest the euro zone debt crisis, Paris said on Wednesday, as latest borrowing figures exposed the stressed state of ...

Slovenia mayor faces tough coalition talks

LJUBLJANA (Reuters) - Slovenia tasked the mayor of its capital city on Monday with establishing a government to stop the euro zone member's slide back into recession, and he faces potentially weeks of tough coalition talks.The European crisis claimed its latest scalp ...

Italy PM meets unions ahead of crisis plan approval

ROME (Reuters) - Prime Minister Mario Monti met unions on Sunday to build support before the cabinet approves a 20-billion-euro package of austerity measures aimed at shoring up Italy's strained finances and stemming a crisis that threatens to overwhelm the euro zone.Ministers ...

Slovenia to turn center right for economic lift

LJUBLJANA (Reuters) - Slovenians voted for a new government on Sunday with the centre-right opposition set to return to power on a pledge of painful reforms to halt the European Union member's slide back into recession.Prime Minister Borut Pahor's Social Democrats look ...

Fed's Rosengren: Euro governments have "long way to go"

BOSTON (Reuters) - European governments have "a long way to go" in improving their fiscal positions and solving a spreading sovereign debt crisis, said Boston Federal Reserve Bank President Eric Rosengren.The euro zone's spreading sovereign debt crisis has spooked investors and rocked ...

Factories growing despite global slowdown

WASHINGTON (Reuters) - Factories shrugged off weakness in the global economy during November as manufacturing activity rose to its highest level in five months, giving a fresh sign that the American economy could be accelerating.Also pointing to stronger growth, U.S. construction spending ...