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Blow to EU zone as Dutch ratings cutStandard & Poor's agency has cut the Netherlands' credit rating, thus reducing the euro zone club of full triple-A nations to just three, while rewarding Spain for efforts to reform its public finances. S&P lowered More… |
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EU zone recession deepens in Q4The euro zone recession has deepened in the current quarter after the bloc's private sector contracted for the 11th straight month in December, a purchasing managers' index suggested on Friday. While the index rose from No More… |
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EU ministers clash over banking unionEuropean finance ministers clashed over plans for a banking union at a crucial meeting on Saturday, with Germany criticising the proposals to introduce a new region-wide banking supervisor by January. Germany, which is keen to ret More… |
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EU zone fears spark rush for dollarGerman government bond yields hit record lows on Friday, the US dollar rose and shares fell as the escalating bank crisis in Spain, a ratings downgrade for Greece and sluggish US data spurred investor demand for safe-haven assets. Across t More… |
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Britain steps up EU contingency planBritain is stepping up its contingency plans in case the euro zone breaks up, even though analysts believe that only Greece is currently at risk of departing the 17-nation bloc over the debt crisis. A senior official at Britain's Finan More… |
