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Νews about the accelerating economic debt crisis in EuroZone
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Venice wants out of Italy

VENICE, Italy – Venice, renowned for incomparable Gothic architecture and placid canals plied by gondolas that make it one of the most recognizable cities in the world, may have had enough of Italy.
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25 years later, western Germany is still pumping money to the east

25 years later, western Germany is still pumping money to the east | Eurozone | Scoop.it
Since the Berlin Wall fell, the west has transferred some $1.8 trillion eastward – and counting. Many in other struggling regions think it's time to reconsider.
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Still stuck in economic crisis, Italy again sets back date to balance budget; now aim is 2016

Still stuck in economic crisis, Italy again sets back date to balance budget; now aim is 2016 | Eurozone | Scoop.it
Italian Finance Minister Pier Carlo Padoan attends a Parliament session in Rome, Thursday, April 17, 2014. Italy has again pushed back its balanced-budget goal, now aiming for 2016. Finance Minister Pier Carlo Padoan wrote to the European Commission this week, saying due to Italy's stubborn economic crisis, it is now aiming for a balanced structural budget in 2016. In 2011, then-Premier Silvio Berlusconi had promised that Italy would balance its budget by 2013. But with the country mired in recession, in 2012, during economist Mario Monti's government , the date was rolled back to 2015.
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Belgium is buying up tons of U.S. Treasurys

Belgium is buying up tons of U.S. Treasurys | Eurozone | Scoop.it
Belgium has been buying up U.S. Treasurys in recent months, including $30.9 billion in February.
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Europe's banks prepare for ECB tests with new provisions

Europe's banks prepare for ECB tests with new provisions | Eurozone | Scoop.it
LONDON (Reuters) - The tens of billions of euros euro zone banks set aside for loan losses in their latest annual accounts may have substantially reduced the chance of institutions failing ECB stress tests
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Bank of Ireland writes off couple's personal loan debts of €25,000

Bank of Ireland writes off couple's personal loan debts of €25,000 | Eurozone | Scoop.it
DETAILS have emerged of debts being written off by Bank of Ireland.

 

A Limerick couple had €25,000 in personal loans wiped away by the bank. This represented 90pc of their unsecured debt, according to Kerry-based personal insolvency practitioner and debt manager Brian Leslie, of Prima Finance, who did the deal.

He said the couple were able to make repayments on their mortgage, which is owed to Bank of Ireland's subsidiary ICS, now that most of their personal borrowings with the bank had been written off.

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Mario Draghi hedges on ECB's stimulus options

Mario Draghi hedges on ECB's stimulus options | Eurozone | Scoop.it
European Central Bank President Mario Draghi on Saturday acknowledged the challenges of using U.S.-style bond purchases to jolt the euro zone from weak growth and said officials may instead have to consider other measures.
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Anti-austerity protest in Italy turns violent

Anti-austerity protest in Italy turns violent | Eurozone | Scoop.it
Police fire tear gas and make arrests as protesters clash with police over new prime minister's labour reforms.
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Greece not out of the woods as Merkel visits

Greece not out of the woods as Merkel visits | Eurozone | Scoop.it
German Chancellor Angela Merkel is headed to Athens in a sign of support for the Greek government's austerity measures. But experts warn that the country has not overcome its financial crisis.
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Netherlands and Germany have Europe's best transport

Netherlands and Germany have Europe's best transport | Eurozone | Scoop.it
EU scoreboard finds best transport performance in northern Europe.
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Economic research groups predict strong upswing for Germany

Economic research groups predict strong upswing for Germany | Eurozone | Scoop.it
Germany’s leading economic research institutes have forecast a strong rise in growth for the country’s economy, driven by robust domestic consumption. The upswing, however, is facing headwinds from government policies.
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Germany's finance minister urges rest of Europe to maintain fiscal discipline

Germany's finance minister urges rest of Europe to maintain fiscal discipline | Eurozone | Scoop.it
Germany's finance minister on Tuesday highlighted the progress the country has made in reducing its budget deficit and warned other European countries against easing efforts to fix their public finances.
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Spain set to reject Catalonia's request for independence referendum

Spain set to reject Catalonia's request for independence referendum | Eurozone | Scoop.it
Parliament expected to vote overwhelmingly against proposal, but Catalan government will go ahead with 9 November vote
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Caterpillar seeking to close plant in France

Caterpillar seeking to close plant in France | Eurozone | Scoop.it
Caterpillar, continuing a global cost-reduction drive, is seeking to stop production at its plant in Rantigny, France, about 40 miles north of Paris, and sell the facility, a spokeswoman for the company said Friday, confirming French press reports.
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Constructing negativity and the ECB

Constructing negativity and the ECB | Eurozone | Scoop.it
We wonder if, after a brief blaze of real scrutiny, people have started to look past the imposition of a negative deposit rate by the ECB in favour of the more seductive and mysterious ECB QE and how it might be constructed. And we wonder if that is something of a mistake.

How a move to negative is constructed will, of course, have much to do with what it is intended to achieve -- a weaker euro at last check -- but we also can't help but think it would be cool to make sure it won't cause too much harm either. Herein lies a plan.
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Cyprus warns economic sanctions against Russia will destroy its economy

Cyprus warns economic sanctions against Russia will destroy its economy | Eurozone | Scoop.it
Cyprus Foreign Minister Ioannis Kasoulides told a German newspaper Wednesday that economic sanctions against Russia by Europe would destroy the Cypriot economy, adding that every EU state should decide separately whether they want to cut ties with Moscow.
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Another Step to Debt-Market Normality for Portugal

Another Step to Debt-Market Normality for Portugal | Eurozone | Scoop.it
Portugal is expected to undertake its first regular, pre-announced government bond auction since its bailout, possibly as early as next week. This would be seen as another step towards its return to full market financing.
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Spain tops list of EU's 10 worst employment blackspots

Spain tops list of EU's 10 worst employment blackspots | Eurozone | Scoop.it
Statistics reveal top five worst hit areas for joblessness are in Spain where almost 6 million people are without a job
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Portugal Plans Budget Savings Worth $1.9 Billion for 2015

Portugal Plans Budget Savings Worth $1.9 Billion for 2015 | Eurozone | Scoop.it
Portugal plans to implement budget measures worth 1.4 billion euros ($1.94 billion) to narrow its budget deficit and meet a target set for 2015.
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France bans work e-mail after 6 p.m.

France bans work e-mail after 6 p.m. | Eurozone | Scoop.it
France already has a 35-hour work week, and a new rule is designed to make sure that it doesn't start shading toward 40 hours because of work-related e-mail.
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IMF warns Europe's banking system poses threat to global financial stability

IMF warns Europe's banking system poses threat to global financial stability | Eurozone | Scoop.it
International Monetary Fund says end of low US interest rates and sharp slowdown in China could also derail recovery
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Slovenia's ruling party to choose new leader on April 25

Slovenia's ruling party to choose new leader on April 25 | Eurozone | Scoop.it
LJUBLJANA (Reuters) - Prime Minister Alenka Bratusek's Positive Slovenia party will elect a new leadership on April 25, the party said on Thursday, a move that will determine the future of Bratusek's coalition
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S&P downgrades Finland's outlook to 'negative'

S&P downgrades Finland's outlook to 'negative' | Eurozone | Scoop.it
Standard and Poor's has downgraded Finland's outlook to "negative," putting another crack in the credit image of one of the few countries to hold the top-notch "AAA" rating.
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Greece gets strong demand for bond

Greece gets strong demand for bond | Eurozone | Scoop.it
Greece wrapped up its first longer-term bond sale since its international bailout four years ago to strong demand, although the celebratory mood was marred by a predawn bomb blast in Athens.
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Italy PM Renzi says Cabinet has approved three-year budget plan.

Italy PM Renzi says Cabinet has approved three-year budget plan. | Eurozone | Scoop.it
Italian Prime Minister Matteo Renzi announced Tuesday his cabinet has approved a multiyear plan that will lead to lower growth in the short term but enhance the potential of the euro zone's third largest economy.
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