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.

Italy’s president needs more time to resolve political stalemate

ROME (Reuters) – Efforts to end Italy’s political stalemate stalled on Friday after two days of fruitless talks, with President Sergio Mattarella saying he needed more time to try to put together a coalition government. Italian President Sergio Mattarella speaks to the media at the Quirinal Palace in Rome, Italy, April 13, 2018. REUTERS/Tony Gentile “I will wait a few days, and then I will evaluate how to proceed to break the deadlock,” the head of state told reporters following…

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Euro zone bond yields creep up, Moody’s to review Spain

* Bund yield pulls away from 1-week lows * Syria worries fade for now but geopolitics in focus * Moody’s to review Spain * Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr By Dhara Ranasinghe LONDON, April 13 (Reuters) – Borrowing costs in the euro area crept up on Friday as geopolitical worries eased, leaving Germany’s benchmark 10-year government bond yield on track for its biggest weekly rise in over two months. U.S. President Donald Trump on Thursday cast doubt over…

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Gold steadies, on track for second week of gains

By Reuters Published: 21:12 EDT, 12 April 2018 | Updated: 21:12 EDT, 12 April 2018 BENGALURU, April 13 (Reuters) – Gold edged up on Friday after posting its biggest percentage fall in over two weeks in the previous session, and was set to post a small gain for a second week running amid tensions over Syria and a U.S.-China trade stand-off. FUNDAMENTALS * Spot gold rose 0.2 percent to $1,337.17 an ounce as of 0046 GMT, and was set for…

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London aluminium eyes biggest ever weekly jump on Rusal…

By Reuters Published: 22:32 EDT, 12 April 2018 | Updated: 22:32 EDT, 12 April 2018 MELBOURNE, April 13 (Reuters) – London aluminium slipped on Friday but was on track for its biggest weekly gain on record after the United States imposed sanctions on Russia’s UC Rusal, the world’s second biggest producer of the metal. FUNDAMENTALS * London Metal Exchange aluminium fell by 1.5 percent to $2,290.50, trimming gains for the week that were still approaching 14 percent. Prices topped out…

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FOREX-Dollar up against yen, Swiss franc as risk…

By Reuters Published: 15:22 EDT, 12 April 2018 | Updated: 15:22 EDT, 12 April 2018 By Saqib Iqbal Ahmed NEW YORK, April 12 (Reuters) – The dollar snapped a four-day losing streak against a basket of major currencies on Thursday, as worries about the threat of an imminent clash between Western powers and Russia in Syria lessened. The dollar index, which measures the greenback against a basket of six other major currencies, was up 0.21 percent at 89.758 after falling…

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Germany has been slow to reassess its place in the world

THERE IS A crack of howitzer fire and a plume of smoke from above the birch trees, then silence falls on the milky winter afternoon in Pabrade, close to Lithuania’s border with Belarus. “There come the Marders!” cries Lieutenant-Colonel Bösker of the Mechanised Infantry Battalion 371 of Germany’s Bundeswehr as four light tanks roll out of the forest. Their job is to lure the enemy into the line of fire of the Leopard heavy tanks, which issue a series of…

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Bundesbank sceptical over bailout fund reform effort

FRANKFURT, April 12 (Reuters) – Bundesbank President Jens Weidmann expressed scepticism on Thursday over a proposal to reform the European Union bailout fund, the ESM, just hours after the European Central Bank said it supported the effort. Weidmann, frequently mentioned as a candidate to replace ECB chief Mario Draghi next year, said the proposal would fail if it curtailed member states’ control over the European Stability Mechanism (ESM), which has a lending capacity of around 500 billion euros. “If this…

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Euro zone Feb industrial output weaker than expected,…

By Reuters Published: 06:42 EDT, 12 April 2018 | Updated: 06:42 EDT, 12 April 2018 By Jan Strupczewski BRUSSELS, April 12 (Reuters) – Euro zone industrial production was much weaker than expected in February, data showed on Thursday, pointing to slower economic growth in the first quarter and no quick policy tightening from the European Central Bank. The European Union’s statistics office Eurostat said industrial production in the 19 countries sharing the euro fell 0.8 percent month-on-month for a 2.9…

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London zinc skids to 4-mth low on slow pick-up in steel…

By Reuters Published: 23:32 EDT, 11 April 2018 | Updated: 23:32 EDT, 11 April 2018 MELBOURNE, April 12 (Reuters) – London zinc fell to a four-month low on Thursday, tracking the prices of other steel materials as demand from construction got off to a slow start in the usually strong second quarter. FUNDAMENTALS * London Metal Exchange zinc slid 2.7 percent to $3,150 a tonne by 0244 GMT, having earlier touched a low of $3,133.50, its weakest since Dec. 12.…

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Gold off 11-week highs after Fed signals more rate hikes

By Reuters Published: 21:32 EDT, 11 April 2018 | Updated: 21:32 EDT, 11 April 2018 BENGALURU, April 12 (Reuters) – Gold prices eased off multi-week highs on Thursday as minutes from the Federal Reserves’s last policy meeting raised expectations for a faster pace of U.S. rate hikes. FUNDAMENTALS * Spot gold was down 0.1 percent at $1,351.48 an ounce as of 0111 GMT and U.S. gold futures fell 0.4 percent to $1,355 an ounce. * Gold on Wednesday rose to…

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Tech Outlook – Gold market under fresh buying; Support seen at 30738

Mentha Oil market under fresh buying; Support seen at 1379.8 MCX Aluminium under fresh buying; Resistance seen at 148 Nickel market under fresh buying; Support seen at 878 MCX Zinc may trade in a range between 207.6-213.4 Copper market under fresh selling; Support seen at 435.9 Technically Gold market is under fresh buying as market has witnessed gain in open interest by 6.15% to settled at 8411 while prices up 141 rupees. Now MCX Gold is getting support at 30738…

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Shares pressured as Wall Street ends off highs, focus on Xi speech

Singapore : Asia: Shares pressured as Wall Street ends off highs, focus on Xi speech Apr 10, 2018 (Euclid Infotech Ltd via COMTEX) — Asian shares edged lower on Tuesday as Wall Street retreated from its highs after the FBI raided the offices of US President Donald Trump’s long time lawyer, dampening risk appetite already under strain from an escalating US-China trade spat. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.2 per cent. South Korea’s Kospi fell 0.8…

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EU official says eurozone needs to make a commitment to blockchain technology

Bloomberg News Andrus Ansip, European Commission v.p., called on the region’s leaders to commit more resources to the technology sector. To that end, Ansip said if Europe wants to maintain its status as a leader in artificial intelligence in health care and other fields it has to do more, both politically and financially, in adopting and advancing blockchain technology, speaking at the EC’s 2018 Digital Day in Brussels. Blockchain refers to the distributed-ledger technology that underpin most…

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France to cut deficit faster than planned on firm growth

By Leigh Thomas and Myriam Rivet PARIS (Reuters) – France will cut its budget deficit faster than expected over President Emmanuel Macron’s term as growth proves stronger than previously estimated, the Finance Ministry said on Tuesday. If the forecasts are borne out by the facts, the improvement means that the 40-year-old leader will be able to deliver France’s first surplus in 48 years at the end of Macron’s term in 2022. The government is counting on the improved outlook to…

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ANALYSIS-Central bank heavyweights head back to euro…

By Abhinav Ramnarayan and Tommy Wilkes LONDON, April 10 (Reuters) – Major global central banks are ramping up purchases of euro zone government bonds, banking sources say, enticed by rising yields, a buoyant single currency and an uncertain outlook for U.S. debt and the dollar. Data shows central banks bought significant chunks of debt issued by Belgium, France and state-backed German development bank KfW in bond syndications last month. Two senior bankers who conduct such syndications on behalf of European…

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LIVE MARKETS-Closing snapshot: trade wars are also good when they don’t happen – UK Money News

* European shares advance * China’s Xi speech soothes jitters over trade tensions * Autos rise after Xi pledges to cut import tariffs * LVMH supported by solid update LONDON, April 10 (Reuters) – Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net CLOSING SNAPSHOT: TRADE WARS ARE ALSO GOOD WHEN THEY DON’T…

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