News

Inflation across the single currency bloc fell to 0.7% in January moving closer to deflationary territory

Eurozone unemployment rises to record levels

Unemployment in the eurozone has reached a record high, with 17.4 million people out of work across the single currency, according to the latest official figures.

Spanish bond yields breach 6 per cent as investor fears of a bailout intensify

Panicking investors sent Spain's cost of borrowing above 6 per cent yesterday, pushing the country closer towards a bailout. The yield on 10-year Spanish bonds rose to 6.15 per cent in trading yesterday morning as the country's Finance Minister, Luis de Guindos, confirmed that the economy contracted again in the first quarter of 2012.

UK narrowly avoids a double-dip recession

The UK has narrowly avoided a double-dip recession but will struggle for the rest of the year unless businesses stop hoarding cash and start investing, a forecaster warned today.

James Ashton: We need the option of letting a bank fail

It is just as well that Spain doesn't need a bailout. Even Mariano Rajoy, the Prime Minister, doesn't believe the eurozone could cope if its fourth-largest economy got into trouble.

Italian borrowing costs rise as debt fears intensify

Market nerves about the Spanish economy showed signs of spreading to Italy yesterday as Rome saw its medium-term borrowing costs spike. Italy sold €2.9bn in three-year debt at 3.89 per cent yesterday, higher than the 2.76 per cent it was forced to pay at a similar auction last month. Demand for the debt issue was also muted.

Greece to hold election in May

Greece is to hold an early general election on May 6.

Weak Spanish auction turns up the pressure on Madrid

Bond investors delivered a blow to the Spanish government yesterday as they shunned Madrid's first debt auction since the austerity budget unveiled by the centre-right administration of Mariano Rajoy last week.

Spanish auction disappoints, as ECB keeps rates on hold

Bond investors delivered a blow to the Spanish government yesterday as they shunned Madrid's first debt auction since the austerity budget unveiled by the centre-right administration of Mariano Rajoy last week.

ECB head calls for bailout boost

European finance ministers have been urged to approve an increase in the size of the eurozone's emergency "firewall" when they meet in Copenhagen today.

Hamish McRae: Why Spain is odds-on for a bailout by the end of the year

Economic Life: Anyone visiting Spain will have seen the ranks of unfinished apartment blocks

UK recovery threatened as eurozone powerhouses stumble

Europe is crashing back into recession as storm clouds gather over the region's twin economic powerhouses, Germany and France, experts have warned.

Leading article: Britain's struggle to be heard in Europe

As the rest of Europe's leaders were signing a new treaty binding eurozone countries into closer fiscal union, the British Prime Minister and his Czech counterpart were kicking their heels elsewhere.

Eurozone unemployment hits new high

Mass unemployment in Greece and Spain, where nearly half of those under 25 are out of work, sent the jobless rate across the 17-nation eurozone to its highest level since the euro was established in 1999.

UK banks join the queue for billions in ECB loans

British banks joined the queue for hundreds of billions in cheap three-year loans from the European Central Bank (ECB) yesterday as its funding lifeline for the region's financial institutions surged past the €1 trillion (£847bn) mark.

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