Euro Zone

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Merkel to Hollande: budget rigour, growth go together

BRUSSELS - Germany and France both called for economic growth to be at the heart of the euro zone's budget strategy on Thursday but German Chancellor Angela Merkel warned against returning to the pre-crisis days of high spending to try to revive the economy.


Europe's banks face moment of truth from ECB review 4:40pm BST

LONDON/FRANKFURT - The euro zone's 130 biggest banks received the European Central Bank's final verdict on their finances on Thursday after a review aimed at drawing a line under persistent doubts about the health of the region's banking sector.


Business activity improves in China, euro zone but little sign of turnaround 3:29pm BST

LONDON/BEIJING - Euro zone businesses performed much better than forecasters expected this month and China's vast factory sector grew a shade faster but there were worrying signs that the upturn could be short-lived.


Euro zone consumer confidence rises in October 3:09pm BST

BRUSSELS - Euro zone consumer confidence defied market expectations of a fifth straight month of decline and rose slightly in October, a flash estimate from the European Commission showed on Thursday.


Big bang, not big bucks, the key for euro zone bank lending 2:48pm BST

DUBLIN/FRANKFURT - If the European Central Bank really wants to kick-start the euro zone economy, it should ensure the bloc's banks are up to the task of lending.


Upbeat business surveys encourage investors out of Bund refuge 11:57am BST

LONDON - German government bond yields edged higher on Thursday after an unexpected uptick in euro zone business surveys staved off fears the bloc could be headed for a triple-dip recession.


Euro zone business growth unexpectedly gains pace, prices still falling - PMI 11:25am BST

LONDON - Euro zone businesses performed much better than anyone expected this month but did so by slashing prices again, and optimism about the future fell to its lowest level in over a year, surveys showed on Thursday.


Bank of England minutes add to signs rate hike on back burner 22 Oct 2014

LONDON - Most Bank of England policymakers are firmly against raising interest rates, seeing little evidence of inflation pressures while the slowing euro zone poses growing risks, minutes of their latest meeting showed.


Euro zone banks to repay 4.5 billion euros of LTRO money next week - traders 20 Oct 2014

- Banks in the euro zone will next week repay 4.5 billion euros (3.56 billion pounds) of the long-term loans taken roughly three years ago to weather the financial crisis, a Reuters poll of euro zone money market traders found.

France says respects budget rules, Germany says EU must decide 20 Oct 2014

BERLIN - France's finance minister said after talks in Berlin on Monday that the European Union's fiscal rules were indispensable for the credibility of the euro zone and Paris must reduce its excessive budget deficit by cutting spending.


Insight - Mario Draghi's German problem

BERLIN/FRANKFURT/PARIS - In early October, European Central Bank board member Benoit Coeure paid a discreet visit to the Chancellery in Berlin to express concerns about rising criticism of the bank from German politicians.

Safran shares rise on third-quarter revenues, confident outlook

PARIS - France's Safran posted solid third-quarter sales and said it would easily meet 2014 profit forecasts on Thursday, pushing its shares up as aerospace investors put aside recent concerns over the economy.

EU seeks clarification on Italy's breach of debt-cutting goals

ROME - The European Commission has asked Italy to explain why its draft budget for next year will breach debt-reduction goals it promised the European Union, a step that may lead to demands from Brussels for changes to the spending package.

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