European Central Bank President Mario Draghi has urged euro zone countries to unite in the task of reforming the bloc's economies, saying sharing sovereignty was an opportunity and not a threat.
Tags: Euro zone
Greek central bank issues 'Grexit' warning if aid talks fail
The Greek central bank warned on Wednesday that the country would be put on a "painful course" towards default and exiting the euro zone if the government and its international creditors failed to reach an agreement on an aid-for-reforms deal.
Greek standoff saps Europe, dollar swings ahead of Fed
European shares hit a near four-month low and yields on lower-rated euro zone sovereign debt climbed to their highest point since November, as financial markets braced for the possibility of Greece defaulting on its debt.
India’s central bank nearing policy crossroads
The Reserve Bank of India is facing a fork in the road for the first time since Governor Raghuram Rajan took office amid much fanfare and started targeting inflation as the central bank’s primary mandate.
As Greece lurches toward default, businesses hit the wall
When construction of four 6.5 billion euro toll roads across Greece resumed last year, Greek and foreign businesses rejoiced.
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Prospects for a step-change in global economic growth are better than they have been in many years, but much depends on solid evidence that an awful first quarter for the United States is far in the rear-view mirror.
The euro hit a three-month high against the dollar on Thursday, lifted by another lurch higher in euro zone government bond yields that again kept global stock markets in check.
A slowdown in Germany weighed on the euro zone in the first quarter, but the bloc's economy still grew at its fastest in almost two years as cheap food and fuel boosted spending and a central bank stimulus program kicked in.
German Finance Minister Wolfgang Schaeuble and his Greek counterpart Yanis Varoufakis will meet in Brussels on Monday ahead of a Eurogroup meeting of euro zone finance ministers, a spokesman for the German finance ministry said.
With optimism building that the United States is already recovering smartly from another horrible start to the year, focus will shift this week to reports that may show the euro zone is finally shaking off half a decade of torpor.
Euro zone retail sales were weaker than expected in March, data showed on Wednesday, turning negative on a monthly basis for the first time since last September.
Euro zone businesses started the second quarter with healthy growth as a buoyant order book again encouraged them to hire more, a survey showed on Wednesday.
The euro zone ended four months of deflation in April with consumer prices unchanged from year-ago levels, removing the threat of persistent price declines as energy costs pushed up in the month.
Euro zone officials sought to wring policy concessions from Greece on Wednesday to unlock urgently needed aid after Athens said it would present a list of reforms for legislation to show it is serious about implementing its promises.
