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.

Eurozone GDP Advanced For The Third Quarter, But Inflation Growth Slowed In Octobe

For the 24 hours to 23:00 GMT, the EUR rose marginally against the USD and closed at 1.1649, following solid reports on the Eurozone economic growth and unemployment rate. Data showed that the region’s GDP grew by 0.6% QoQ in the three months to September, more than market expectations for an advance of 0.5%. Additionally, the unemployment rate in the Eurozone unexpectedly dropped to 8.9%, from a revised rate 9.0% in the previous month. Market participants had called for an…

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Eurozone growth ‘above expectations’ – Armenian News

The eurozone’s economy grew by 0.6% in the three months to September, above analysts’ expectations, BBC News reports, citing EU statistics office Eurostat. For the past 12 months, the growth rate was 2.5%, Eurostat said. Last month, the European Central Bank (ECB) raised its 2017 growth forecast for the 19-nation eurozone to 2.2%, the fastest in 10 years. Eurostat also said eurozone unemployment was 8.9% in September, the lowest rate for nearly nine years.  The overall message from these figures…

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Euro zone growth beats forecasts despite stronger euro

The euro zone has recorded better growth figures than expected, indicating the recent strength of the euro has done little to impede a burgeoning economic recovery. In a further sign of upturn, unemployment has fallen to a nine-year low. Data released on Tuesday showed the euro zone economy grew 0.6 per cent in the third quarter from the previous three months. The figure was slightly above analysts’ expectations and comes despite fears that a stronger currency would hurt the region’s…

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Eurozone GDP, Inflation Data Due

Flash quarterly national accounts, inflation and unemployment figures from Eurozone are due on Tuesday, headlining a busy day for the European economic news. At 2.30 am ET, the French statistical office Insee releases GDP data. The economy is forecast to grow 0.5 percent sequentially in the third quarter. At 3.45 am ET, preliminary consumer prices and consumer spending are due from France. Inflation is expected to remain unchanged at 1 percent in October. At 4.00 am ET, trade data from…

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Euro zone economy grows faster than expected in third quarter, supports ECB QE decision

BRUSSELS (Reuters) – The euro zone economy grew faster than expected last quarter and unemployment fell to its lowest in almost nine years, backing up the European Central Bank’s move to begin reducing its bond buying despite slightly soft inflation this month. FILE PHOTO: A woman visits the floating flower market in Amsterdam, April 26, 2013. REUTERS/Cris Toala Olivares The European Union’s statistics office Eurostat estimated that the gross domestic product of the 19 countries that use the euro grew…

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Eurozone unemployment at near 9-year low

The robust economic recovery across the 19-country eurozone has continued during the third quarter, helping unemployment fall to a near nine-year low. Eurostat, the European Union’s statistics agency, said the eurozone economy grew by 0.6 per cent during the July to September period. Though that’s slightly down on the stellar 0.7 per cent tick recorded in the second quarter, it’s modestly higher than expectations for a 0.5 per cent rise. Separately, Eurostat said unemployment fell to 8.9 per cent in…

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Euro zone banks can cope with low rates for years, European Central Bank paper says

Euro zone banks can cope with low rates for years, European Central Bank paper says October 31, 2017 | 1:43 PM by Reuters Frankfurt: Bank profits should be able to withstand ultra low euro zone interest rates for up to a decade, a research paper published by the European Central Bank (ECB) said on Monday, just days after policymakers put off any rate rise. Some banks have said that maintaining their profitability while interest rates are so low is impossible,…

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Spanish prosecutor accuses sacked Catalan leader Carles Puigdemont of rebellion

By: Reuters | Barcelona | Published:October 31, 2017 12:10 pm Catalan leader Carles Puigdemont. (Photo: Reuters) Spain’s state prosecutor accused sacked Catalan leader Carles Puigdemont on Monday of rebellion and sedition as the former regional president travelled to Belgium with other members of his ousted administration and hired a lawyer there. As Madrid began direct rule of Catalonia, Attorney General Jose Manuel Maza called for charges of rebellion, sedition, fraud and misuse of funds to be brought against Catalan leaders…

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Eurozone banks can cope with low rates for years

Bank profits should be able to withstand ultra-low eurozone interest rates for up to a decade, a research paper published by the European Central Bank said yesterday, just days after policymakers put off any rate rise. Some banks have said that maintaining their profitability while interest rates are so low is impossible, making the ECB’s efforts to stimulate economic activity self defeating as weaker banks will not to transmit cheap money to the real economy. “Although keeping interest rates low-for-long…

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Eurozone Businesses, Consumers Undeterred by Political Uncertainty

Updated Oct. 30, 2017 9:15 a.m. ET Businesses and households in the 19 countries that use the euro are more upbeat about their prospects than they have been for almost 17 years, a sign that the currency area’s economic recovery is set to continue at a robust pace despite renewed threats to its political stability. The European Commission on Monday said its Economic Sentiment Indicator, which aggregates business and consumer confidence, rose to 114.0 in October from 113.1 in September…

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Spanish prosecutor accuses sacked Catalan leader of rebellion

BARCELONA/MADRID (Reuters) – Spain’s state prosecutor accused sacked Catalan leader Carles Puigdemont of rebellion and sedition on Monday as the former regional president traveled to Belgium with other members of his ousted administration and hired a lawyer there. As Madrid began direct rule of Catalonia, Attorney-General Jose Manuel Maza called for charges of rebellion, sedition, fraud and misuse of funds to be brought against Catalan leaders who organized an illegal referendum on independence from Spain. The Oct. 1 vote in…

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Bank of England set for step into unknown with first rate hike since 2007

By David Milliken LONDON (Reuters) – The Bank of England looks set to step into the unknown on Thursday, when it is expected to raise interest rates for the first time since 2007 at a time when growth appears weaker than before any other rate rise of the past 20 years. Having cut rates to a record low 0.25 percent in August 2016 after Britons voted to leave the European Union, the Bank is now correcting course and falling in…

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Euro zone economic confidence surges to highest level in almost 17 years

Euro- area economic confidence surged to its highest in almost 17 years, reflecting an improved outlook for a region that not long ago was blighted by record joblessness and a double-dip recession. The index of industry and consumer sentiment rose to 114 in October from a revised 113.1 the previous month, the European Commission in Brussels said on Monday. That’s the gauge’s fifth consecutive monthly increase and the strongest reading since January 2001. It compares with a median estimate of…

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Clear vision, not money, is way to grow euro zone -Slovakia’s Kazimir

STRBSKE PLESO, Slovakia, Oct 30 (Reuters) – Varying integration speeds in the euro zone and outside it are a reality, but the European Union can get everybody on board if it offers a compelling vision of what the currency group can become, Slovak Finance Minister Peter Kazimir said in an interview. Slovakia joined the euro zone in 2009, while ex-communist neighbours like the Czech Republic, Hungary or Poland have been in no hurry to adopt the euro currency. The EU…

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London copper near 2-week low on firm dollar

By Reuters Published: 22:25 EDT, 29 October 2017 | Updated: 22:25 EDT, 29 October 2017 MELBOURNE, Oct 30 (Reuters) – London copper steadied on Monday, not far from a two-week low hit in the previous session on persistent headwinds from a stronger dollar. FUNDAMENTALS * LME COPPER: London Metal Exchange copper rose by 0.2 percent to $6,841.50 a tonne by 0138 GMT, finding its feet after more than 2 percent losses in the previous session. Prices on Friday sank to…

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