Euro Zone

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Draghi says euro zone more stable, "needs a more European UK"

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LONDON - The euro zone is more stable than a year ago but economic conditions remain challenging and governments must push on with reforms and banking union plans, European Central Bank President Mario Draghi said on Thursday.

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Euro area inflation



ECB can't solve euro zone crisis alone - Weidmann

PARIS - Bundesbank chief Jens Weidmann said on Thursday it was not up to the European Central Bank to solve the euro zone crisis, resisting pressure from other ECB policymakers for the bank to widen its range of policy tools.

9:35pm BST

ECB needs solid euro zone public finances to do its job - Weidmann

PARIS - Bundesbank chief Jens Weidmann said on Thursday that euro zone states needed to ensure they had solid public finances in order for the European Central Bank to be able to do its job.

8:07pm BST

EU probes ally of Kosovo PM, ambassador for war crimes

PRISTINA - European Union police said on Thursday they had arrested five people, including a wartime ally of Kosovo's prime minister, and were investigating the ambassador to Albania on suspicion of war crimes during Kosovo's 1998-99 conflict.

6:44pm BST

Euro zone slump eases in May but points to contraction in second quarter - PMI

LONDON - The downturn across euro zone businesses eased slightly this month, although a dearth of new orders means the bloc's economy is likely to contract again in the second quarter, business surveys showed on Thursday.

6:13pm BST

Euro zone consumer confidence inches up in May

BRUSSELS - Consumer morale in the euro zone edged up broadly in line with expectations in May, showing its sixth monthly improvement in a row, European Commission data showed, though the indicator remained well below the currency area's long-term average.

5:44pm BST

Berlin hopes efforts on youth jobs will help its image in Europe

BERLIN - German alarm that their country is blamed for austerity measures compounding the problems in the euro zone helps explain Berlin's bilateral efforts to tackle youth unemployment in some of the countries worst affected.

Business, Spain 5:44pm BST

EU slips up with olive oil ban, reverses course

BRUSSELS - The European Commission has torn up new rules on how restaurants should serve olive oil less than a week after unveiling them, following widespread ridicule and accusations of unwanted interference.

5:08pm BST

EU's Barnier softens new rules for pension funds

BRUSSELS - Pension funds in the European Union will not be required to increase their capital in the same way as banks and insurers will have to, under draft rules due later this year, the EU's top regulatory official said on Thursday.

4:57pm BST

EU trade chief to seek investment pact with China

BRUSSELS - The European Commission will seek the support of EU governments to launch talks with China on an investment pact that could be a precursor to a free-trade deal if Brussels and Beijing can overcome growing tensions.

4:27pm BST

EURO ZONE EMERGES FROM CRISIS

An activist looks at Five Star Movement leader and comedian Beppe Grillo on the screen during a rally in Rome February 22, 2013. On Friday evening, tens of thousands attended the final rally on Grillo's "Tsunami Tour" of the country in Rome's San Giovanni square. The charismatic comedian whipped the crowds into a frenzy as he railed against the establishment. REUTERS/Stefano Rellandini

Rome will burn, regardless of vote

Regardless of who wins the election, Italy's long economic decline is likely to continue because the next government won't be strong enough to pursue the reforms needed to make its economy competitive again.  Full Article 

BRUSSELS AND THE EU LABYRINTH

European Economic and Monetary Affairs Commissioner Olli Rehn presents the EU Commission's interim economic forecast during a news conference at the EU Commission headquarters in Brussels February 22, 2013. Several euro zone countries are likely to miss deficit cutting targets because of a weak economy, the European Commission is expected to forecast on Friday, but they may be granted extra leeway rather than face disciplinary action. REUTERS/Francois Lenoir

Euro zone economy to shrink again

The euro zone will not return to growth until 2014, the European Commission said, reversing its prediction for an end to recession this year and blaming a lack of bank lending and record joblessness for delaying the recovery.  Full Article 

COMMENTS ON EUROPE'S TROUBLES

European Central Bank (ECB) President Mario Draghi waits for the start of the European Parliament's Economic and Monetary Affairs Committee in Brussels October 9, 2012. REUTERS/Francois Lenoir

Don't rush towards Euro-pessimism

The siren call of Euro-pessimism should be ignored. It was wrong in 2010, and it will be wrong now. Europe faces hard years with no clear path, but that is not the same as dissolution and chaos.  Full Article 

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