Investors pushed global equities and the euro lower on Monday as Dutch political turmoil and disappointing euro zone data revived fears the region's debt crisis could keep much of Europe mired in recession through the year.
As one of the last few euro members with an untarnished credit rating on the line, the Dutch government indicated Sunday that it would press ahead with efforts to pass an austerity budget
Spain Bans Cash Transactions Over 2,500 Euros … Spain has outlawed the use of cash in business transactions in excess 2,500 euros in order to crack down on the black market and tax evaders.
key index of business optimism on Friday reinforced what an increasing number of economists are saying: Germany is beginning to see an upswing -- even as the rest of the 17-country eurozone struggles with economic and financial turmoil over too much
• http://www.commondreams.org, Common Dreams staff
As Germany insists that Greece submit to harsh austerity measures leaving pensions cut, unemployment soaring and the healthcare system slashed, one area it believes needn't be cut is Greece's weapons purchases, provided in great part by and benefitin
The EU's problems have not been fixed, just paper over. MEP Nigel Farage believes that the end of this Ponzi scheme will bring massive banking collapses, civil unrest, rebellion, and perhaps "some sort of awful social cataclysm."
Venezuela provides Cuba with up to $15 billion a year, which helps offset the US embargo. But there is the real possibility Chávez may not win or survive another six-year term as president.
Investors have turned away from riskier assets, favouring U.S. stocks, as concerns about the euro zone debt crisis resurface and expectations for global growth are scaled back, a closely-watched fund managers' survey showed on Tuesday.
The euro zone is risking a "prolonged period of deflation" if it doesn't do more to address the vicious circles that its debt crisis is creating, the International Monetary Fund said Tuesday.
The EU's statistics agency revised upwards its March inflation reading for the euro zone on Tuesday, adding to the case for the European Central Bank to hold back from further monetary stimulus.
Fierce debate is growing in Europe over whether austerity or growth offers the best strategy to overcome the continent's sovereign debt crisis. As if it were that simple.
A fourth consecutive increase in euro-zone exports took the region's trade balance into surplus in February, data showed Monday, bolstering hopes that economic contraction will be short lived.
A jump in the bond yields of Spain weighed on a recovery in European stocks and pushed Asian indexes lower as investors feared Madrid may eventually need a bailout that the eurozone can scarcely afford.
• bloomberg, By Catarina Saraiva and David Goodman
The euro dropped to less than $1.30 for the first time in two months as Spanish bond yields touched a 2012 high after a minister called on the European Central Bank to do more to stem debt-market turmoil.
At the Institute for New Economic Thinking conference in Berlin, economist Joe Stiglitz delivered a presentation titled Is Mercantilism Doomed to Fail? China, Germany, and Japan and the Exhaustion of Debtor Countries.
Dubai's tourism authority is planning to open an office in South America as it hopes fast-growing Latin economies such as Brazil and Argentina will supply an influx of visitors to the emirate.
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