Europe could be at risk of persistent deflation, due to a dependence on the German economy. It has been warned.
UK withdrawal from the European Union would not be as “cataclysmic” for British jobs as supporters of membership claim, London Mayor Boris Johnson claimed today.
A Labour MEP has revealed she is disturbed by some of her party’s austerity measures in Government.
The authors of a new report published today have claimed that austerity policies in Europe are not working.
Europe's financial woes deepened today as its two largest economies reported faltering economies.
The IMF says Spain's reforms under its financial-support programme are almost complete.
Spain's unemployment rate has shot up to 26.02% with nearly six million people now out of work.
The Dutch finance minister, Jeroen Dijsselbloem, has been elected as the new president of the group of euro area finance ministers.
Greece's jobless rate rose to 26.8% in October.
Greeks earning more than €42,000 per year will be taxed at a new top rate of 42% under a major new tax reform bill submitted to the country’s parliament.
European Union leaders are pledging to create a body with the authority to restructure or close down banks in trouble and to give Greece desperately needed bailout funds.
Plans for a Europe-wide tax on banks has won overwhelmingly support from MEPs - and triggered a new attack on British Chancellor George Osborne for not taking part.
The European Central Bank is leaving its main interest rate at a historic low of 0.75%.
A new survey shows that the countries worst hit by the European financial crisis are also seen as among the most corrupt in the European Union, an international watchdog group said today.
British Prime Minister David Cameron today warned EU leaders to stop “tinkering” with Europe’s budget and make real savings in line with national austerity efforts.
The Taoiseach is meeting with other European Union leaders in Brussels for a second day of talks on a new seven-year budget for the eurozone.
Shoring up Europe's banking sector and strengthening oversight of economic policies are the issues at the top of the agenda during a meeting of EU finance ministers that is expected to expose divisions among the continent's powers.
Eurozone finance ministers are meeting in Brussels this evening to discuss whether to release €30bn in funds to Greece.
German Chancellor Angela Merkel says Europe’s sovereign debt crisis will last at least five more years.
German Chancellor Angela Merkel has said that the EU's top financial official should have the power to veto the national budgets of member states.
Countries should not sacrifice growth for the sake of austerity, the head of the International Monetary Fund told global financial leaders today.
The head of the International Monetary Fund on called today for urgent action to tackle Europe's debt problems and an approaching fiscal crisis in the US, warning that ripple effects from the global slowdown are being felt around the world.
Taoiseach Enda Kenny has today welcomed the German constitutional court's decision to approve the €700bn ESM bailout fund.
Germany's constitutional court has given the eurozone bailout fund the green light.
Financial crisis is “fuelling populism and extremism” in Europe, a top European Union official said today.
The European Commission wants the European Central Bank to be the supervisor for all the banks in the 17 countries that use the euro and have the power to fine institutions.
Germany’s Finance Minister is insisting that the countries must not use the European Central Bank’s plan to buy unlimited amounts of government bonds as an excuse to let up on economic reforms and deficit-cutting.
The European Central Bank has unveiled its most ambitious plan yet to halt Europe's financial crisis with a pledge to buy unlimited amounts of the government bonds of countries struggling to manage their debts.
European Central Bank President Mario Draghi has unveiled a much-awaited programme to buy the government bonds of eurozone countries to help bring down their borrowing rates.
Chinese premier Wen Jiabao called on Greece, Spain and Italy to embrace budget cuts and get their finances in order after meeting visiting German chancellor Angela Merkel today.
The European Commission has asked Spain to delay by another week the plans to create a "bad bank", a fund which would pool much of its financial sector's soured property investments, so that experts in Brussels can review the project, the government in Madrid said.
Germany's finance minister said in an interview published today that he can't see room for further concessions to Greece, insisting anew that the country must implement far-reaching reforms and cut its budget deficit.
The leaders of Germany and France have added their weight to the battle to preserve the European single currency with a joint statement promising to do everything they can to stop the 17-country bloc from breaking up.
Credit ratings agency Moody’s Investors Service has downgraded Italy’s government bond rating two notches on concern that deteriorating financial conditions in Europe will lead to a sharp rise in borrowing costs.
An attempt to block to block the eurozone’s permanent rescue fund and Europe’s new fiscal discipline treaty will be heard by Germany’s high court next week.
The Finance Minister Michael Noonan has said it is a good day for Ireland after the latest deal at the EU summit that will ease the pain of future budgets after this year.
Financial markets rose today after European Union leaders threw a lifeline to the eurozone’s tottering banks.
The interest rate for Spain’s benchmark 10-year bond has edged away from the dangerously high 7% mark following an overnight European Union agreement to funnel aid directly to struggling banks instead of via the country.
Taoiseach Enda Kenny has said an EU agreement to bring down borrowing costs for indebted nations will ease the burden on Ireland’s taxpayers.
The head of the International Monetary Fund warned the euro is under “acute stress” and piled pressure on Germany by advocating a series of measures to pull Europe out of its crisis that Chancellor Angela Merkel has strenuously opposed.
Spain’s troubled banks could need as much as €62bn in new capital, independent auditors have calculated.
Desperate Spaniards are raiding farm crops to sell at markets in an attempt to raise money as their economy falters.
Spain's ability to manage its debt without an international bailout has been thrown into doubt after investors pushed its borrowing rates up to the level at which Greece, Portugal and Ireland had to seek help.
Angela Merkel has warned Greece it cannot renegotiate its bailout as the nation prepares to vote in tomorrow’s crunch elections that threaten the future of the eurozone.
German Chancellor Angela Merkel insisted today that Europe's debt crisis can only be solved by keeping a tight rein on government finances and introducing structural reforms.
The cost of borrowing for Spain has reached a worryingly high level, making it unsustainable for the country to borrow money to service its debts.
IItalian premier Mario Monti has seen nearly seven months of confidence-building efforts by his government wiped out today, when a debt auction revealed that the country’s borrowing rates are back near levels last seen in December.
Further integration between EU states is required to deal with the economic crisis in Europe, Commission President Jose Manuel Barroso told the European Parliament in Strasbourg today.
Fianna Fáil leader Micheál Martin said today that the deal done to bail out Spanish Banks is bad for Europe and bad for Ireland.
Finance Minister Michael Noonan has said that today’s announcement is a collective response by eurozone member states to assist in resolving the difficulties in the Spanish banks.
Spain will ask for a bank bailout from the eurozone, becoming the fourth and largest country to seek help since the single currency bloc's debt crisis erupted.
Finance ministers from the 17 countries that use the euro will discuss a potential rescue for Spain today, a eurozone official said, as pressure grows on Madrid to sort out its troubled banks even if it means seeking a European bailout.
Spain could decide within days or weeks to ask for a bailout for its troubled banking sector, making it the fourth eurozone country to seek help since the EU debt crisis erupted.
US President Barack Obama has strongly urged European leaders to prevent their looming debt crisis from dragging down the rest of the world.
Cyprus will have to seek bailout funds from the European Union to recapitalise a banking sector pummelled by exposure to Greek debt and must prepare by taking tough steps to shore up its finances, the chairman of the country's second-largest lender said today.
Spain has indicated it could decide this month whether to request a bailout for its troubled banking sector.
The Spanish Economy Minister has said his Government is not aware of weekend Eurogroup talks.
Spanish sovereign debt has been downgraded by three notches from A to BBB by Fitch Ratings, which said the likelihood of external financial support is rising.
German Chancellor Angela Merkel has said that the EU Fiscal Treaty won't be enough on its own to save the euro.
Spain has raised €2.1bn from the bond markets – but at higher interest rates as investors remained concerned the country might still need external help to shore up its banking sector.