Wednesday, January 23, 2013

Prospect of a Currency War is Alarming for Eurozone as it Attempts to Crawl Out of Recession

Latest update from Eurozone, European Union blessing for core nations' transaction tax, Commission will soon propose details of the levy, which will start months or potentially years of negotiations on the exact rate and design

France and Germany plan closer eurozone, Merkel says governments will also ask employers and trade unions to come up with joint plans to boost competitiveness and growth

British prime minister, Cameron to promise in-out EU ballot, Long-awaited speech will say it is time to settle status of Britain in Europe and lay down a tight timetable for renegotiation

As previous news, Britain and its place within the European Union, 'I believe in confronting this issue – shaping it, leading the debate not simply hoping a difficult situation will go away'

Cameron guarantees EU issue's dominance, Prime minister to use keynote speech to promise an in-out referendum on bloc membership and set timetable, though it is dependent on re-election

Meanwhile Ryanair makes concessions on Aer Lingus, The Irish airline is offering to sell around 40 per cent of Aer Lingus' short haul operations to Flybe in a last-ditch attempt to gets its takeover bid passed by the European Commission

From Athens we reporting, Greece charges statisticians over size of deficit, Andreas Georgiou, head of the independent statistical agency Elstat, and two senior officials are accused of inflating the 2009 budget deficit figure

Yeahh warning on new currency war, Prospect of a currency war is alarming for eurozone as it attempts to crawl out of recession and lower record unemployment by encouraging exports

From Dublin, Ireland signals use of ECB bond plan, Dublin lays the groundwork for an application to the central bank's OMT to help pave the way out of its €67.5bn bailout programme

Meanwhile, Euro could be next to join currency war, Single currency's strength threatens to strangle net exports, which have contributed positively to eurozone GDP in each of the past 10 quarters

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