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

Spain shows it 'gets it'

All eyes were once again on Madrid and Athens as protesters crowded the streets and politicians tried to convince markets and the populace that they had a route out of the crisis: "We know what we have to do, and since we know it, we're doing it," said the Spanish Prime Minister Mariano Rajoy as the details of his government's emergency budget started to emerge.

Markets steady as focus remains on Spain and Greece

Financial markets recovered their poise today, though investors remained concerned that Greece and Spain will struggle to implement debt-reduction strategies in the face of popular outrage.

'Troika' in Lisbon amid fears Portugal could need a new bailout

Portugal faced fresh scrutiny from international lenders over its €78bn (£62bn) bailout yesterday amid mounting concerns that the nation could need "tens of billions" extra in funds.

Spain pays sharply lower rates in bond auction

Spain's Treasury has sold nearly €4 billion in short-term debt auctions that saw investors accepting much lower interest rates, reflecting easing concern that the country will need a full-blown bailout.

German slump piles the pressure on ECB to act

An alarming August slump for the eurozone giant Germany yesterday heaped more pressure on the European Central Bank to use its financial firepower to tackle the region's lingering debt crisis.

Obama asks eurozone to keep Greece in until after election day

US officials are worried that if Greece exits the eurozone, it will damage President's election hopes

German dip sounds the alarm in eurozone

Bloc heads back into recession with ECB under increasing pressure to act

Ben Chu: The news has got gloomier, yet the outlook is brighter

Back in June, Greece and maybe even the eurozone itself seemed to be dancing on the brink. Greek parliamentary elections had failed to produce an outright winner, leaving the country effectively ungoverned and unable to fulfil the conditions of its rescue. And an anti-bailout party looked set to come out on top of the new poll. A unilateral sovereign default, which would have seen Greece ejected from the single currency, seemed the likely outcome. Worse, the financial shield the bloc had thrown around Italy and Spain to guard them from the panicking bond markets seemed as reliable as a chocolate fireguard. Many feared the union could be on the verge of meltdown.

The Saturday Quiz

1. Tolley's is the so-called bible of what?

Recession fears stalk eurozone after output falls

The eurozone is teetering on the edge of recession even as the dominant German economy continues to expand, official figures showed yesterday.

Troubled eurozone threatened by another recession

The eurozone is teetering on the edge of recession even as the dominant German economy continues to expand, official figures showed yesterday.

Matthew Bell: It's a very good 17 days to bury bad news

Nobody puts anything dodgy in emails any more. But if they did, there'd be plenty of Jo Moores whizzing round Whitehall this weekend. Remember her? She was the civil servant who, minutes after the second plane crashed into the World Trade Center, cheerfully rattled off a note saying it was "a very good to day to get out anything we want to bury. Councillors' expenses?"

Spain sets course for full-scale €300bn bailout

Mariano Rajoy, Spain's prime minister, steered the embattled nation towards a €300bn (£237bn) bailout yesterday as he said he was ready to act "in the best interests of the Spanish people".

Battle of the bankers
<p><b><u>Jens Weidmann</b></u>
<br /><b>Who is he?</b> President of the Bundesbank, Germany's central bank, and former economics adviser to Chancellor Angela Merkel.
<br /><b>What does he want?</b> To keep the ECB on a firm leash and put a brake on anything that involves German taxpayers effectively handing over billions more to the Eurozone's spendthrift strugglers. Is opposed to the ECB buying sovereign bonds, as it breaches the central bank's mandate on not financing the debts of Eurozone nations.</p>
<p><b><u>Mario Draghi</b></u>
<br /><b>Who is he?</b> President of the European Central Bank, Italian but got the job because he was the most ‘German' candidate.
<br /><b>What does he want?</b> To preserve stable prices in the Eurozone and defend the “irreversible” single currency itself – within the limits allowed by the Bundesbank. Wants Europe to push ahead with the necessary budget cuts and institutional reforms needed bring the single currency bloc closer together and prevent another crisis.</P>

Share prices crash as Mario Draghi's 'big bazooka' falls flat

Italy and Spain take a fresh hammering after European Central Bank fails to promise action

Markets fall after inaction on euro

The UK was facing more economic uncertainty tonight after the European Central Bank failed to deliver measures for tackling the region's debt crisis.

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