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Νews about the accelerating economic debt crisis in EuroZone
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Germany: The rise and fall of a model socialist city

Germany: The rise and fall of a model socialist city | Eurozone | Scoop.it

Eisenhuettenstadt still has an imperial feel about it. Even though many of the windows are boarded up and the streets are relatively empty, the big apartment blocks have retained a sense of the city's former grandeur.

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Top Italian Banks Tap Private Equity for Help With Troubled Loans

Top Italian Banks Tap Private Equity for Help With Troubled Loans | Eurozone | Scoop.it
K.K.R. and Alvarez & Marsal have signed a preliminary agreement to join UniCredit and Intesa Sanpaolo in revitalizing a pool of troubled corporate debt.
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Wage cuts make Spain's recovery a long, painful path

Wage cuts make Spain's recovery a long, painful path | Eurozone | Scoop.it
MADRID (Reuters) - Carmen Collado has laundered hospital linen in Madrid for 11 years. Now, almost half her colleagues have been fired and the 61-year-old grandmother is cleaning the same bed sheets, nurses'
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Greek austerity has caused more than 500 male suicides – report

Greek austerity has caused more than 500 male suicides – report | Eurozone | Scoop.it
Spending cuts in Greece have caused some 500 male suicides since their implementation, according to a new study. The research found a positive correlation between austerity and suicide rates after other possible links proved to be unrelated.
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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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Netherlands to become net gas importer in 10 years – IEA

Netherlands to become net gas importer in 10 years – IEA | Eurozone | Scoop.it
Europe’s second largest gas producer, the Netherlands, could shift from exporter to importer within a decade, says the International Energy Agency (IEA). The study suggests seeking alternative energy sources in nuclear, unconventional fuels or renewables.
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Portugal Bond Gain Pushes Yield to 8-Year Low After Debt Auction

Portugal Bond Gain Pushes Yield to 8-Year Low After Debt Auction | Eurozone | Scoop.it
Portugal’s government bonds rose, with 10-year yields falling to the lowest since 2006, after the nation held its first auction since a bailout in 2011 as its European Union-led aid program draws to a close.
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Belgium's biggest party has no allies in the European Parliament

Belgium's biggest party has no allies in the European Parliament | Eurozone | Scoop.it
With one month to go until the EU vote, it is clear that Belgium's political party will have several MEPs but unclear whether it will wield any real influence in the next European Parliament.
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IMF: Portugal bailout to end in May

IMF: Portugal bailout to end in May | Eurozone | Scoop.it
Portugal's near-term economic prospects are improving as its international bailout nears an end, but it must keep up reforms, in order to prevent debt growth, the IMF said.
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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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