Euro Zone

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Banks loosen purse strings for euro zone businesses


FRANKFURT - Euro zone banks have loosened their lending terms for businesses for the first time since the start of the financial crisis, the European Central Bank said on Wednesday, reducing one of the chief obstacles to an economic rebound.

German inflation probably eased in July, states data shows 11:35am BST

BERLIN - Annual inflation in Europe's largest economy probably slowed in July, data from some German states suggested on Wednesday, probably pushing the euro zone rate lower and raising pressure on the ECB to take action.


Bundesbank chief welcomes inflation-busting German wage gains 3:04am BST

FRANKFURT - Bundesbank chief Jens Weidmann has welcomed above-inflation wage increases in some sectors in Germany, where price pressures are firmer than in many other euro zone countries but still weak.

Russia sanctions threaten to blow euro zone off course 29 Jul 2014

BERLIN/FRANKFURT - The knock to confidence from harsher European sanctions on Russia could spoil the euro zone's budding economic recovery even if it shrugs off the fallout on trade.

Corporate price cutting highlights European deflation threat 29 Jul 2014

LONDON - Weak consumer spending and intense competition among retailers are forcing some makers of packaged goods to lower their prices, intensifying the threat of euro zone deflation.


ECB balance sheet shrinks in week to July 25 29 Jul 2014

FRANKFURT - The balance sheet of the European Central Bank and the euro zone's national central banks shrank by 18.161 billion euros (14.38 billion pounds) to 2.044 trillion euros in the week that ended on July 25, the ECB said on Tuesday.


Euro zone may discuss early Irish bailout repayment to IMF 26 Jul 2014

BRUSSELS - Euro zone finance ministers are likely to discuss in September whether to allow Ireland to repay its more expensive bailout loans from the International Monetary Fund before paying back the euro zone bailout fund, a euro zone official said.

Bank lending in Ireland sees steepest fall since late 2011 25 Jul 2014

FRANKFURT - Lending to companies and individuals in Ireland fell at the fastest rate since October 2011 in June, data from the European Central Bank showed on Friday, highlighting one of the impediments to growth in the euro zone.


Euro zone private sector loans contract less in June - ECB 25 Jul 2014

FRANKFURT - A decline in lending to households and firms in the euro zone slowed slightly in June and money supply grew, as the European Central Bank's new stimulus measures find their way through the system.

Eurogroup's Wieser sees euro zone reforms biting slowly - paper 25 Jul 2014

VIENNA - Reforms to cut public and private debt in euro zone countries could take up to a decade to have a sustainable effect on growth in the bloc, the head of the Eurogroup's working group told a newspaper.

Germany's SMA Solar cuts jobs after profit warning

FRANKFURT - SMA Solar , Germany's biggest solar company by revenue, said it will cut 12 percent of its workforce after competition from Asia and a decline in Europe's solar sector forced it to lower its outlook for sales and profit.

France names ex-finance minister Moscovici as EU commissioner candidate

PARIS - President Francois Hollande formally proposed his former finance minister Pierre Moscovici on Tuesday to be France's representative in the next European Commission which takes office later this year.


Italian Senators dig in against Renzi's reform plans

ROME - Italian Senators clashed furiously on Tuesday over Prime Minister Matteo Renzi's plan to strip the upper house of most of its powers as part of a wide-ranging package of reforms to Italy's system of government and economy.

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