Eurozone

EuroZone

Welcome to our EuroZone Blogs Section.

The collective group of countries which use the Euro as their common currency. The Eurozone came into being in 1999, and originally consisted of 11 countries. Now 17 countries are members of the Eurozone. The Eurozone does not include every country in the European Union (some countries are not yet using the Euro), and does not include every country who is using the Euro (to become part of the Eurozone, the country must use the Euro as its sole legal currency). As a currency union, monetary rules are created and maintained by the European Central Bank.

This term refers to the economic area, also known as Euroland, comprising the 17 countries that have adopted the euro.
The 17 countries are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal,Slovakia, Slovenia and Spain.

Below is the latest news and information blogs about EuroZone.

Top Merkel aide rejects conservative critique of euro…

By Reuters Published: 06:51 EDT, 24 June 2018 | Updated: 06:51 EDT, 24 June 2018 BERLIN, June 24 (Reuters) – Chancellor Angela Merkel’s agreement with French President Emmanuel Macron on euro zone reforms does not violate the coalition agreement, as some Bavarian conservatives have claimed, a top aide to the German leader said. Chancellery minister Helge Braun underscored Germany’s determination to maintain control and avoid turning the euro zone into a “debt union” in a letter to lawmakers from the…

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United Kingdom : European shares bounce but trade jitters linger on

Jun 23, 2018 (Euclid Infotech Ltd via COMTEX) — Better-than-expected euro zone economic data and energy stocks galvanised by an Opec agreement on a modest increase in oil production helped drive a bounce in European shares at the end of a tumultuous week marred by trade war worries. The pan-European Stoxx 600 ended the day up 1.1 per cent but recorded a 1.1 per cent fall on the week as fears of rising global protectionism sank in, particularly for the…

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Greece ‘turning a page’ as eurozone declares crisis over

ATHENS – Greek Prime Minister Alexis Tsipras on Friday said his country was “turning a page” after eurozone ministers declared its crisis over as they granted Athens debt relief under a bailout exit strategy. The eurozone ministers’ agreement comes nearly a decade after Athens finances spun out of control, sparking three bailouts and threatening the country’s euro membership. “Yesterday we reached a historic agreement on Greece’s debt with the Eurogroup,” Tsipras told the country’s president, Prokopis Pavlopoulos. …

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More ‘inclusive’ reforms could boost eurozone economy: ECB | News

Eurozone countries could boost growth and employment by tackling more “inclusive” reforms to their economies, according to a study published Friday by the European Central Bank. “Well-designed structural policies could yield substantial benefits for euro area citizens via a stronger and more inclusive growth in employment and incomes,” the authors suggested. The working group that produced the study was set up by the ECB’s governing council two years ago. Since that time, “inclusive” growth has become a buzzword widely used…

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Eurozone Business Activity Picks Up for First Month in Five

Updated June 22, 2018 7:53 a.m. ET Business activity in the eurozone picked up in June for the first month in five—a first sign that the currency area’s economy may be shaking off a sluggish start to the year. The eurozone economy entered 2018 on a high, having recorded its fastest expansion in a decade during 2017 as it outpaced the U.S. for the second straight year. But official figures for the first three months of the year recorded a…

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Greece ‘turning a page’ as eurozone declares crisis over: Gov’t

ATHENS-Agence France-Presse The Greek government on June 22 said the country was “turning a page” after eurozone ministers declared its crisis over as they granted Athens debt relief under a bailout exit strategy. The eurozone ministers’ agreement comes nearly a decade after Athens stunned the world with out-of-control spending, sparking three bailouts and a near collapse of the euro single currency. “Greece is turning a page, its debt is now viable,” government spokesman Dimitris Tzanakopoulos said. “I think the Greek…

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Eurozone nations agree on ‘historic’ Greek debt relief deal

June 22 (UPI) — Eurozone countries said Friday they brokered a historic relief deal offering Greece more time to pay off billions of dollars in debt. Finance ministers from 19 nations agreed to the deal after hours of talks in Luxembourg, giving Greece another 10 years to pay off nearly $112 billion in loans. During that time, Athens will pay little to no interest. The accord will also give Greece a final $17 billion installment of bailout money to help…

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As Greece’s bailout nears end, is the eurozone better equipped to handle future crises?

Crisis over? After six hours of talks, an accord has been reached between the eurozone nations to bring Greece’s bailout programme to a close. Greece’s financial rescue package will come to an end on 20 August. While the crisis might be over, Greeks will be living with the consequences for decades. The government will have to run a day-to-day surplus at 3.5 per cent of GDP until 2020 and at 2 per cent until 2060 to avoid slipping back into…

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Euro zone Private Sector Grows in June: PMI By Investing.com

© Reuters. Euro zone composite PMI rises to 54.8 in June vs. 53.9 forecast Investing.com – Euro zone private sector activity unexpectedly grew in June, according to survey data released on Friday. The preliminary reading of the Markit came in 55.0 this month from 53.8 in May. Economists had forecast a reading of 53.7. The fell to 55.0 from 55.5 a month earlier. The reading was in line with forecasts. The , which measures the combined output of both the…

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EUR/USD Price Forecast – EUR/USD Holds Fort at 1.16 Ahead of Euro Zone PMI

The Euro is shifting towards the week’s highs as the Dollar takes a breather. The EUR/USD is trading close to Thursday’s close heading into Friday’s European market session, which brings a dose of mid-tier PMI figures due early to kick off the week’s end. The Euro managed to reverse the early week’s losses against the US Dollar, lifting back towards Tuesday’s highs near 1.1633. The Greenback walked back on Thursday as Treasury yields declined for the trading day, taking the…

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Eurozone agrees deal to pave way for end to Greece’s bailout

Eurozone nations have agreed on the final elements of a plan to get Greece out of its eight-year bailout programme and make its massive debt more manageable. The finance ministers of the 19 nations took day-long talks into Friday morning and reached a surprisingly hard-fought compromise which had seemed within easy reach for the past few days. The ministers needed to finalise a deal between Greece and its international creditors that would allow it to safely emerge from its third…

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Eurozone agrees deal to pave way for end to Greece´s…

By Press Association Published: 21:24 EDT, 21 June 2018 | Updated: 21:24 EDT, 21 June 2018 Eurozone nations have agreed on the final elements of a plan to get Greece out of its eight-year bailout programme and make its massive debt more manageable. The finance ministers of the 19 nations took day-long talks into Friday morning and reached a surprisingly hard-fought compromise which had seemed within easy reach for the past few days. The ministers needed to finalise a deal…

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Euro zone agrees Greek debt relief, 15 bln new loans – Centeno

LUXEMBOURG, June 22 (Reuters) – Euro zone finance ministers agreed in the early hours of Friday a debt relief package for Greece and a new disbursement of 15 billion euros as part of its current 86-billion-euro bailout programme, the head of euro zone finance ministers said. The deal involves a 10-year extension of maturities on loans from the European Financial Stability Facility and a 10-year deferral on interest payments, Mario Centeno told a news conference. Centeno added that this will…

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IMF to revise down euro zone growth, sees Brexit, Italy risks

LUXEMBOURG (Reuters) – The International Monetary Fund is likely to revise down its growth forecasts for the euro zone as the area faces higher risks from trade, Britain’s talks to leave the bloc and market jitters over fiscal easing in Italy and other states. FILE PHOTO: International Monetary Fund (IMF) Managing Director Christine Lagarde speaks at the Foreign Policy annual Awards Dinner in Washington, U.S., June 13, 2018. REUTERS/Yuri Gripas When the fund publishes its new forecasts on the global…

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Euro zone discusses Greek debt relief as bailout exit…

By Reuters Published: 13:35 EDT, 21 June 2018 | Updated: 13:35 EDT, 21 June 2018 By Jan Strupczewski and Francesco Guarascio LUXEMBOURG, June 21 (Reuters) – Euro zone finance ministers will decide on Thursday how much cash and debt relief to give Greece in return for compliance with economic reforms, to ensure Athens can finance itself after it exits its bailout in August. Greece has been living primarily on money borrowed from euro zone governments in three bailouts since 2010,…

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