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Germany's underground economy poised to grow

Germany's underground economy poised to grow | Eurozone | Scoop.it
Experts predict that Germany's parallel economy is set to bottom out and then quickly regain momentum. They warn that billions in tax revenues could evaporate if the government does not take action.
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Eurozone
Νews about the accelerating economic debt crisis in EuroZone
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Bank for International Settlements (BIS) chief fears fresh Lehman from worldwide debt surge

Bank for International Settlements (BIS) chief fears fresh Lehman from worldwide debt surge | Eurozone | Scoop.it

The world economy is just as vulnerable to a financial crisis as it was in 2007, with the added danger that debt ratios are now far higher and emerging markets have been drawn into the fire as well, the Bank for International Settlements has warned.

Jaime Caruana, head of the Swiss-based financial watchdog, said investors were ignoring the risk of monetary tightening in their voracious hunt for yield.

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IMF praises Spain’s handling of economy but warns on joblessness

IMF praises Spain’s handling of economy but warns on joblessness | Eurozone | Scoop.it
The Spanish economy has “turned the corner” but Madrid must do more to reduce unemployment and lower its debt burden, the International Monetary Fund says in its latest country report. “The recovery is clearly under way and, critically, labour
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Slovenia Puts Privatization on Hold Ahead of July 13th General Elections

Slovenia Puts Privatization on Hold Ahead of July 13th General Elections | Eurozone | Scoop.it
The outgoing center-left Slovenian government Thursday said it was halting all ongoing sales of state-owned companies until a new cabinet is formed after the parliamentary election in a week from Sunday. Calls for halting or scaling down privatization are dominating the ongoing election campaign.
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For sale: Italian alpine village for £195,000

For sale: Italian alpine village for £195,000 | Eurozone | Scoop.it
A mountain village in Italy is offered for sale on eBay, with the few remaining inhabitants hoping that it can be saved from neglect by a wealthy investor
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Jennifer Hogan Peruzzi's curator insight, July 8, 10:00 AM

Maybe not so sound and profound but definitely an interesting proposition. I mean, really, who wouldn't want an Italian Village for $333k? 

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ECB measures are not a panacea

ECB measures are not a panacea | Eurozone | Scoop.it
The impact of the ECB’s rate cut and targeted longer term refinancing operations may be limited.
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ECB's Draghi faces questions over guidance on rates

ECB's Draghi faces questions over guidance on rates | Eurozone | Scoop.it
FRANKFURT (Reuters) - European Central Bank President Mario Draghi faces a grilling after Thursday's policy meeting over forward guidance on interest rates after he hinted at a stronger message last week
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Don't expect the stress among European bankers to end any time soon.

Don't expect the stress among European bankers to end any time soon. | Eurozone | Scoop.it
Silvio Angius and Giorgio Bonomo of McKinsey & Co. write in The Wall Street Journal Europe that European banks face one of the biggest structural changes in their regulatory environment in 30 years.
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France Puts Drag on Euro Zone Growth, Report Shows

France Puts Drag on Euro Zone Growth, Report Shows | Eurozone | Scoop.it
A survey by Markit Economics indicated that the French economy may again be shrinking, slowing the pace of the bloc’s overall expansion.
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Calls for QE pose headache for ECB

Calls for QE pose headache for ECB | Eurozone | Scoop.it
The ECB has launched a raft of policy measures, but the calls for quantitative easing keep coming in, including from the IMF. The debate around QE could highlight a potential bind for the central bank.
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Influential group of European economists queries whether euro zone has emerged from recession

Influential group of European economists queries whether euro zone has emerged from recession | Eurozone | Scoop.it
An influential group of European economists said it remains unclear whether the euro zone has emerged from recession, despite official figures having recorded four quarters of economic growth.
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France has 'third highest tax burden in EU'

France has 'third highest tax burden in EU' | Eurozone | Scoop.it
France is synonymous with taxes and a new report released on Monday has revealed that France’s tax burden is now in the top three in Europe when compared to t
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Eurozone inflation drops to five-year low of 0.5%

Eurozone inflation drops to five-year low of 0.5% | Eurozone | Scoop.it
European Central Bank faces tough task in preventing Europe from sliding into a damaging deflationary spiral
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ECB policymaker: bank tests may be too tough

A European Central Bank policymaker is voicing concern that Europe may be too tough on banks as they undergo “stress tests” to measure their financial resilience.
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Portugal banking crisis sends tremors through Europe - Telegraph

Portugal banking crisis sends tremors through Europe - Telegraph | Eurozone | Scoop.it
Portugal’s regulator suspends trading of Banco Espirito Santo after its share price crashes 17pc, reviving worries about the health of Europe’s banks
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ECB Plans to Limit Stress-Test Inputs in Bank Checks

The European Central Bank plans to limit the amount of data it carries over from its asset review into a subsequent stress test as it tries to manage the burden from an unprecedented health check of euro-area lenders.
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Bundestag committee claims Ireland has no plan for growth

Bundestag committee claims Ireland has no plan for growth | Eurozone | Scoop.it
German MPs emphasise troubling lack of concern over Dublin's ‘shadow bank’ sector
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France Puts Euro Zone Recovery at Risk, Economists Warn

France Puts Euro Zone Recovery at Risk, Economists Warn | Eurozone | Scoop.it
The country has been hovering too long near stagnation and risks derailing a wider euro zone recovery, a group of economists said at a conference in Aix-en-Provence.
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France places Sarkozy under investigation

France places Sarkozy under investigation | Eurozone | Scoop.it
Former president to be formally investigated for corruption after being quizzed for 15 hours.
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French leader wants ECB to start asset purchases

French leader wants ECB to start asset purchases | Eurozone | Scoop.it
PARIS--France's prime minister Manuel Valls said he wished the European Central Bank would carry out asset purchases to support the euro zone's economies and to bring down the value of the euro on currency markets.
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Savers hit as ECB vows to keep record-low interest rates for years

Savers hit as ECB vows to keep record-low interest rates for years | Eurozone | Scoop.it
SAVERS are facing a fresh attack on the interest they earn on their money deposited in banks.
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The Achilles heel of Europe? - Bruegel.org

The Achilles heel of Europe? - Bruegel.org | Eurozone | Scoop.it
When badly designed, the regulation of service and network sectors risks creating barriers to the entry of new competitors or reducing the i...
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Eurozone price inflation hits trough in May

Eurozone price inflation hits trough in May | Eurozone | Scoop.it

A further slowdown in eurozone inflation in May was confirmed on Monday, as the cost of telecommunication and food kept prices low, confirming a problem that the European Central Bank recently sought to stem.

Consumer prices in 18 countries using the euro rose by 0.5 percent on the year in May, keeping them in the 'danger zone' of below 1 percent, the EU's statistics office Eurostat data said.

Prices fell by 0.1 percent on the month in May, with the cost of services down by 0.2 percent when compared with April.

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The IMF has urged the ECB to consider large-scale Asset Purchases

The IMF has urged the ECB to consider large-scale Asset Purchases | Eurozone | Scoop.it
The European Central Bank should consider a large-scale asset-purchase program, including buying sovereign bonds, if inflation in the euro-zone remains stubbornly low, the International Monetary Fund said on Thursday.
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Does politics dominate economics in Eurozone crisis management?

Does politics dominate economics in Eurozone crisis management? | Eurozone | Scoop.it
Athanasios Orphanides, leading academic macroeconomist and from 2007-12 Governor of the Central Bank of Cyprus, does not hold back in a recent paper. Here is just one quote:   
“During the crisis, key decision makers exhibited neither political leadership nor political courage. Rather than work towards containing total losses, politics led governments to focus on shifting losses to others. The result was massive destruction in some member states and a considerably higher total cost for Europe as a whole. European institutions could have been the last line of defense against this destructive dynamic but instead served to facilitate and enable the destruction.”
 His complaint will resonate with many from the smaller Eurozone economies. The text of the paper suggests that the way decisions are made in the Eurozone allows large countries to screw smaller countries, for short term economic gain, even if this damages the Eurozone as a whole.
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Will the IMF Apologize to Greece?

Will the IMF Apologize to Greece? | Eurozone | Scoop.it
The IMF apologized to the U.K. for criticizing its deficit reduction plans although the fund's criticism had little impact. But its failure to recognize Greece's fiscal success has had real consequences.
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