Euro News

No less than the International Monetary Fund (IMF) itself admitted it had misgivings in the handling of the Greece bailout. In a 50-page report prepared by an inter-department staff team at IMF, the Fund admitted it bent its own rules to accommodate a bailout of Greece in 2010 for fear that not doing otherwise would […]

Latvia, the small state facing the Baltic Sea, is set to be bid farewell to its national currency to become the 18th state to join the single currency market, the Eurozone. The European Commission, in a report released earlier today, stated that Latvia “has achieved a high degree of sustainable economic convergence” with the Eurozone, […]

In the yesterday session, the EURUSD was very bullish, approaching to the SMA 200 and strengthening its overall bullish trend. EURUSD is forming a lower high pattern, the resistance below the level of 1.3070. If the EURUSD manages to break this resistance, it is expected to rise to the level of 1.3130. Recall that near […]

European Union rate at 11.0% The euro area, comprised of seventeen countries, seasonally-adjusted unemployment rate was 12.2% in April 2013, up from 12.1% in March. The EU27, comprising the members of the European Union, unemployment rate was 11.0%, unchanged compared with the previous month. In both zones, rates have risen markedly compared with April 2012, […]

After last week’s QE3 taper tantrum and fall from near all-time highs, the shortened week started on a calmer note with what looked like a rebound. This ultimately proved a tease and short-lived with better US data (housing, manufacturing, consumer confidence) being taken well in terms of growth/recovery rather than scaring market with worries of […]

The Eurozone has reached another record high unemployment rate in April 2013 as the single-currency block continues to be mired in its longest recession since its creation 14 years ago. Data from EU’s statistics agency, Eurostat, revealed seasonally-adjusted jobless rate in the 17-member bloc rose from 12.1% in March to 12.2% in April of this […]

Pound Sterling – With UK markets closed for a national holiday it was a slow start to the week for the Pound. Although Sterling went on to weaken against the US Dollar as UK retail sales dropped to a 16-month low, it was able to recoup losses as separate reports showed a surge in British house […]

In the yesterday’s session, EURUSD was very bullish, breaking major resistance levels on the way, which drastically changed the general trend of this pair. Finally, the EURUSD broke again the resistance at 1.3000 psychological level, after remaining in a range between 1.2950 and 1.2800. Now, the EURUSD is forming a lower high pattern, in order […]

The battle continues as Ryanair Holdings plc (LSE:RYA) received another slapped in the face after the UK’s Competition Commission decided the Ryanair may have to reduce its shareholdings in competitor Aer Lingus Group plc to make way for more competition in the air traffic between the UK and Ireland. UK’s anti-trust agency’s provisional findings stated […]

The Commission is seeking to move “beyond the crisis” The European Commission has today adopted recommendations to EU Member States designed to move Europe beyond the crisis and strengthen the foundations for growth. In a statement the EC said that the “recommendations are based on detailed analyses of each country’s situation and provide guidance to […]