Chinese officials say the country’s economic growth rose to 7.9 percent in the fourth quarter of 2012, ending seven straight quarters of slowing down. The National Bureau of Statistics Friday said the growth rate for the period October through December was up from 7.4 percent the previous quarter. It said this brought the growth rate […]
China Breaks Decline in Economic Growth
Posted January 18th, 2013 at 12:35 am (UTC-5)
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Eurozone Unemployment Reaches Record High
Posted January 8th, 2013 at 6:20 am (UTC-5)
The unemployment rate across the eurozone has reached a record high of 11.8 percent. Joblessness figures released Tuesday by the European Union showed the rate for November 2012 had crept up a tenth of a percent in October of the same year. The report shows nearly 19 million people were unemployed in the countries using […]
EU President: Budget Deal Possible Early Next Year
Posted November 23rd, 2012 at 2:15 pm (UTC-5)
European Union President Herman Van Rompuy says an EU budget deal is possible early next year, despite the end of a two-day summit in Brussels Friday that failed to reach agreement. Van Rompuy downplayed division, saying that “constructive discussions” at the summit meant a deal for the 27-nation bloc could be viable in early 2013. […]
EU Leaders Make Little Progress in Budget Talks
Posted November 23rd, 2012 at 10:30 am (UTC-5)
European Union leaders made little progress Friday at a second day of talks on a new budget aimed at confronting the economic crisis facing the 27-nation bloc. At an EU summit in Brussels, tensions remained high between wealthy member states and countries seeking a bigger aid budget. British Prime Minister David Cameron, a supporter of […]
Britain: Not Enough Progress at EU Budget Summit
Posted November 23rd, 2012 at 6:55 am (UTC-5)
European Union leaders are meeting Friday in Brussels for a second day on a proposed budget that has divided the 27-nation bloc as it confronts economic crisis. In a battle pitting wealthy member states against those seeking a bigger aid budget, British Prime Minister David Cameron has threatened to use his veto unless spending levels […]
EU Leaders in Budget Battle
Posted November 22nd, 2012 at 11:45 pm (UTC-5)
European Union leaders are meeting in Brussels for a summit on a proposed budget that has divided the 27-nation bloc already facing economic crisis. In a battle pitting wealthy member states against those seeking a bigger aid budget, British Prime Minister David Cameron has threatened to use his veto unless spending levels are frozen. The […]
EU Leaders Brace for Bitter Budget Battle
Posted November 22nd, 2012 at 9:25 am (UTC-5)
European Union leaders prepared Thursday for a summit on a proposed budget that has divided the 27-nation bloc already facing economic crisis. The two-day summit officially opens Thursday evening in Brussels. In a battle pitting wealthy member states against those seeking a bigger aid budget, British Prime Minister David Cameron has threatened to use his […]
Moody’s Lowers Ratings Outlook For EU
Posted September 3rd, 2012 at 7:30 pm (UTC-5)
Moody’s Investors Service on Monday lowered its ratings outlook for the European Union from stable to negative, as the bloc struggles to deal with the eurozone debt crisis. The credit rating agency said the negative outlook on the EU’s long-term rating reflects the negative outlook for Germany, France, Britain and Netherlands, which together account for […]
France: Greece Must Stay in Eurozone
Posted August 25th, 2012 at 12:20 pm (UTC-5)
French President Francois Hollande says Greece must stay in the European currency union and he has encouraged Greek leaders to make sure economic reforms they enact can be borne by the Greek people. Mr. Hollande met with Greek Prime Minister Antonis Samaras in Paris Saturday to talk about the country’s bailout plan. The French president […]
Greek PM Seeks More Time to Make Reforms, Cuts
Posted August 24th, 2012 at 10:05 am (UTC-5)
Greek Prime Minister Antonis Samaras has told German Chancellor Angela Merkel his country needs more time to carry out economic reforms. He spoke Friday after meeting with Ms. Merkel in Berlin. Ms. Merkel said she is convinced that authorities in Athens are doing everything they can to solve the problems Greece is facing. She also […]
