Eurozone

IRELAND HAS THE HIGHEST BANK INTEREST RATES IN THE EUROZONE

Irish customers are charged the highest interest rates by banks in the eurozone, according to new data. Figures from the European Central Bank analysed by the Sunday Independent also show Irish banks are up to three times more profitable than their Eurozone counterparts. Home borrowers here are charged an average interest rate of 3.2% compared to the eurozone average of 1.9%, while businesses are charged a 5.1% rate compared to the average of 2.3% elsewhere. Source link

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Czech tycoon Babis to be named prime minister but may struggle to find partners

PRAGUE (Reuters) – Czech President Milos Zeman said on Sunday he would name Andrej Babis prime minister, but the tycoon leader of the anti-establishment ANO party may struggle to find coalition partners despite his emphatic election win. REFILE – CORRECTING CAPTION INFORMATION The leader of ANO party Andrej Babis arrives for a news conference at the party’s election headquarters after the country’s parliamentary elections in Prague, Czech Republic October 21, 2017. REUTERS/David W Cerny ANO won 29.6 percent of the…

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Catalonia’s leaders fight off direct rule from Madrid

MADRID/BARCELONA (Reuters) – Catalonia’s leaders said on Saturday they would not accept direct rule imposed on the region by the Spanish government, as a political crisis that has rattled the economy and raised fears of prolonged unrest showed no signs of easing. Spanish Prime Minister Mariano Rajoy announced earlier on Saturday he would invoke special constitutional powers to fire the regional government and force a new election to counter the region’s move towards independence. Catalan President Carles Puigdemont, who made…

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Spain to sack Catalan government in bid to end secessionist crisis | Top News

MADRID (Reuters) – The Spanish government will sack Catalonia’s secessionist leadership and force the region into a new election, it decided on Saturday, unprecedented steps it said were needed to prevent the region breaking away. People wave separatisy Catalan flags and placards during a demonstration organised by Catalan pro-independence movements ANC (Catalan National Assembly) and Omnium Cutural, following the imprisonment of their two leaders Jordi Sanchez and Jordi Cuixart, in Barcelona, Spain, October 21, 2017. REUTERS/Ivan Alvarado The plan, which…

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Non-euro states should take part in euro reform talks-EU’s Tusk

By Reuters Published: 06:05 EDT, 21 October 2017 | Updated: 06:05 EDT, 21 October 2017 BRUSSELS, Oct 21 (Reuters) – European Union countries still outside the euro zone should take part in euro zone reform preparations to show the unity of the bloc and the importance of the currency, the chairman of EU leaders Donald Tusk said. In a letter to Jeroen Dijsselbloem, chairman of Eurogroup of euro zone finance ministers, Tusk said he had called a summit on euro…

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Don’t bank on consumers getting quick justice in sordid tracker affair

Next week, Minister for Finance Paschal Donohoe will haul in the bank chiefs for a dressing-down about their response to the tracker mortgage scandal. They will know their way to his office. His predecessor, Michael Noonan, had a habit of doing the same – though his summonses were related not to the tracker scandal but to the banks’ slow progress in cutting standard variable mortgage rates. The two episodes show how, as well as taxpayers, consumers have also been sacrificed…

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Spain plans poll in Catalonia to end independence bid – Newspaper

MADRID: The Spanish government has secured opposition support for dissolving Catalonia’s parliament and holding new elections there in January in its bid to defuse the regional government’s push for independence. The Socialists, the main opposition, said on Friday they would back special measures to impose central rule on the region to thwart the secessionist-minded Catalan government and end a crisis that has unsettled the euro and hurt confidence in the euro zone’s fourth-largest economy. Prime Minister Mariano Rajoy, who wants…

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Matchmaker Merkel seeks awkward three-way embrace

BERLIN (Reuters) – German Chancellor Angela Merkel opened what promised to be marathon coalition talks on Friday, hoping to bring three opposing political camps into a stable government despite signs there would be less money to paper over differences. Angela Merkel, leader of the Christian Democratic Union (CDU), arrives at the German Parliamentary Society offices before the start of exploratory talks about forming a new coalition government in Berlin, Germany, October 20, 2017. REUTERS/Axel Schmidt Merkel said she was optimistic…

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Catalonia Independence Row Sees Spanish Government Move Closer To Imposing Direct Rule

The Spanish government is one step closer to imposing direct rule in Catalan after winning the support of the socialist opposition party for plans to dissolve the region’s parliament and hold new elections.   The Socialists, the main opposition, said on Friday they would back special measures to impose central rule on the secessionist-minded Catalan government, Reuters reported.  It is hoped the move will end a crisis that has unsettled the euro and hurt confidence in the euro zone’s fourth-largest economy,…

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Markets begin Samvat 2074 on weak note, Sensex tumbles 194 points

PTI Mumbai, October 19, 2017 19:15 IST Updated: October 19, 2017 21:07 IST “; var device = “”; for ( var type in WFClientTypeDef) { if (window.matchMedia(WFClientTypeDef[type]).matches) { switch (type) { case “xlarge”: device = ‘desktop’; break; case “large”: device = ‘desktop’; break; case “medium”: device = ‘tab’; break; case “small”: device = ‘mobile’; break; } break; } } var writeOnDocument = true; var skipOnDeviceValue = “[medium, small]”; var noSkipOnDevice = skipOnDeviceValue.length > 0; if(noSkipOnDevice) { if (skipOnDeviceValue.indexOf(“large”) > -1…

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Muhurat Trading 2017: Samvat 2074 begins on weak note; Sensex falls 194 points

MUMBAI: Benchmark Sensex surrendered early gains to end over 194 points lower at 32,389.96 in a special Muhurat trading session on Thursday to mark the beginning of Hindu Samvat year 2074. Banking stocks led the fall as participants booked profits to write their first entry with gains on the first session of Samvat 2074, brokers said. The broader NSE Nifty too dipped below the 10,200-mark in the special one-hour Muhurat session. The BSE Sensex opened higher at 32,656.75 and advanced…

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Factbox – German coalition watch: We want experiment to succeed – CDU

BERLIN (Reuters) – Chancellor Angela Merkel won a fourth term in office in the German national election on Sept. 24, but a fractured vote that brings the far-right into parliament means she must try to work out a three-way coalition untested at federal level. The new alliance would comprise Merkel’s conservative bloc – her Christian Democratic Union (CDU) and the Bavarian Christian Social Union (CSU) – along with the pro-business Free Democrats (FDP) and environmentalist Greens. Such a tie-up is…

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Hopes that Ireland can make best of Brexit aired in Paris

Brexit is the greatest economic challenge faced by Ireland in the past 50 years, Anne Lanigan, the head of the Brexit unit in Enterprise Ireland told a seminar co-hosted by Irish Ambassador Patricia O’Brien and Richard Dujardin, the president of the Franco-British business group NetworkIrlande, at the Irish Embassy in Paris. “It is obvious that Ireland is far and away more likely to be affected than anybody else,” said Rory Montgomery, the diplomat responsible for EU-UK negotiations in the Department…

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Spain-Catalonia standoff set to intensify as leaders take hard lines

MADRID (Reuters) – Spain’s political showdown with Catalonia is set to reach a new level on Thursday when political leaders in Madrid and Barcelona are expected to make good on pledges made to their supporters to stick to their tough positions over the region’s future. In an unprecedented move since Spain returned to democracy in the late 1970s, Prime Minister Mariano Rajoy will impose direct rule in Catalonia unless the region’s leader Carles Puigdemont retracts by 10 a.m. (0800 GMT)…

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Reuters Finance and Stock Market News

FOREX-Higher U.S. yields push dollar up for a 5th day * Two-year U.S. yields hold near nine-year highs* Selling dollar has been consensus trade for the year* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Fanny Potkin and Saikat ChatterjeeLONDON, Oct 18 (Reuters) – The dollar climbed for a fifth[18 Oct ’17 11:40] UPDATE 1-Euro zone bond yields rise from five-week lows, ECB in spotlight * Euro zone bond yields rise across board* ECB’s Draghi, Praet and Coeure scheduled to speak*…

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Catalonia refuses to renounce independence, separatist protesters rally

BARCELONA (Reuters) – Catalonia refused on Tuesday to bow to the Spanish government’s demand that it renounce a symbolic declaration of independence, setting it on a political collision course with Madrid later this week. Madrid has threatened to put Catalonia, which accounts for a fifth of Spain’s economy, under direct central rule if its regional government does not abandon independence by Thursday. But Catalonia’s government rejected Prime Minister Mariano Rajoy’s deadline. “Giving in forms no part of this government’s scenarios,”…

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