Finance ministers of eurozone countries reached an “excellent accord” on fighting the pandemic-triggered recession. Europe has proven itself to be “a match” for the crisis, said French representative Bruno La Maire. After hours of talks on Thursday, representatives of 19 eurozone countries agreed to make €500 billion ($547 billion) available “immediately” to stimulate the EU…
There is only one priority for Germany and the UK right now and that is dealing with COVID-19. The available estimates of the costs of shutdown in the form of lost value-added show that the coronavirus epidemic will cause costs that will probably exceed everything known from economic crises or natural disasters in both countries…
FRANKFURT (Reuters) – The German economy is expected to have grown last year at the slowest pace since the eurozone’s debt crisis, hit by a slowdown in exports that was only partly compensated by domestic strength, the country’s central bank said on Monday. Germany, Europe’s export powerhouse, is bearing the brunt of an economic slowdown…
FILE PHOTO: A worker at German manufacturer of silos and liquid tankers, Feldbinder Special Vehicles, moves rolls of aluminium at the company’s plant in Winsen, Germany. At first blush, the result of the European Parliament election in May, and the subsequent nomination of the European Union’s new leadership team augur continuity and not disruption for…
GERMANY is in the midst of an economic crisis that is now bleeding into the EU in the months before Brexit. German news site Der Tagesspiegel warned several hard-hiring factors are playing a part in Berlin dragging down the rest of the EU by weakening the Eurozone. Examples of these are the bitter trade spat…
| Business Insider –Three of Europe’s largest economies are under threat of recession, which could spell a crisis across Europe. –Dozens of companies in Germany have turned to “short-time” work — cutting employee hours — a canary in the coal mine of industrial weakness –Britain could also already be in a recession despite having not…
Stormy times ahead for the eurozone’s economic powerhouse? -Getty Images Concerns are growing over the strength of Germany’s economy – the largest in the eurozone – following the release of more gloomy official figures. Industrial production in April fell by 1.9% compared with the previous month and exports were 0.5% lower than a year earlier….
With China failing to spark a global reflationary wave, prompting fears that Beijing’s record credit injection to start 2019 was for nothing and a repeat of the Shanghai Accord won’t take place, coupled with collapsing global trade, which we noted earlier this month… … on Wednesday Germany reported that its economy appears to have finally hit…
German unemployment dropped by 32,900 in February (not seasonally adjusted), bringing the total number of unemployed down to 2.373 million, the lowest February reading since reunification. In seasonally-adjusted terms, unemployment dropped by 2,000, leaving the seasonally-adjusted unemployment rate unchanged at 5.0%. The number of vacancies increased for the first time since September last year and…
Several factors including Brexit and the rise of the far-right pose a threat to the political union. A mural by graffiti artist Banksy on a wall in Dover – Glyn Kirk/AFP/Getty Images The European Union is facing unprecedented threats to its survival, including the rise of the far right ahead of the European Parliament elections this…