Euro News

After a week of uncertainty, Cyprus has finally reached a deal acceptable to both its parliament and its international creditors. The deal, formally announced earlier today, will spare deposits below 100,000 euros from any levy, in accordance with EU principles, but deposits above the said amount, however, will bear the burden of raising the 5.8 […]

European stock markets turned green today after the Cypriot Parliament rejected the bailout proposal that would have taxed deposits in the country late evening yesterday. This is the first time a member of the Eurozone on the verge of a collapse defied the troika as opposed to the unpopular stance made by previously bailed out […]

The Cypriot Parliament has just voted against the bailout package presented over to the table by the Eurozone. Thirty six votes turned down the proposal with 19 members of the Parliament abstaining, defeating the rescue measure that would have levied a tax on deposits in the island-state of Cyprus. The abstained votes came from President Nicos […]

The whole world has set their eyes on the events unfolding in the tiny island state of Cyprus, whose Parliament is set to vote on whether to uphold or reject the bailout terms presented by 17-member Euro currency bloc. At the time I started my writing of this article, the Cypriot Parliament has just started […]

Stock markets around the globe treaded downhill in reaction to the planned bailout of Cyprus that will see deposits in banks within the island state charged a one-time levy to avert bankruptcy – a move that spark public rage amongst Cypriots as well as emptying of ATM’s. On Saturday, the European Union and the International […]

Leading ally of German Chancellor argues currency will be stronger without Greece Alexander Dobraindt, leader of Germany’s Christian Social Union (CSU) and a close ally of Chancellor Angela Merkel, has argued that the euro would be stronger without Greece. Arguing that the “greatest risk for the euro is still Greece” Mr Dobraindt said that whilst […]

The full story and the fallout from the UK downgrade and the Pound Sterling falling. UK GDP Growth Grows Beyond Previous Estimate PUBLISHED:  27 Feb 2013 @ 12:11 The British economy grew more than expected, updated figures from the UK’s Office for National Statistics (ONS) revealed earlier today. In its report, ONS showed UK’s gross domestic […]

Italian election leaves inconclusive result causing sharp market falls European markets have opened to falls following an inconclusive result in the Italian elections, with the Frankfurt and Paris exchanges falling by over 2%. Closing whilst election results were being announced New York’s Dow Jones Industrial Average fell by 1.55%. By late morning trading Europe’s major […]

The Eurozone is expected to shrink further in 2013, the European Commission acknowledged, reversing its earlier forecast of growth in the 17-member Euro-denominated region as their economies undergo a “balance-sheet adjustment process” that will weigh on short-term growth. In a report today, the Eurozone is expected to contract by 0.3% after shrinking by 0.6% in […]

Nat Rothschild left the Bumi shareholders meeting in London yesterday, 21 February, having lost a major battle, but vowing to fight on.  Nineteen of Rothshild’s 22 proposed resolutions were  rejected by shareholders.  The Bumi share price followed by continuing its year long 60% decline with a 21.3 pence plunge (5.44%) to 370.0 shortly past midday […]