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German analysts warn there is ‘great danger’ of recession
Germany’s leading economic think tanks warned on Thursday there was a “great danger” that Europe’s top economy could fall into recession, as they slashed their growth forecasts for next year in half. The four institutes — Ifo in Munich, IfW in Kiel, IW in Halle and RWI in Essen —…
Germany keeps up austerity drive with Central Bank help
Germany’s finance minister warned Sunday that debt-laden eurozone states must stick to promised reforms and cuts despite last week’s offer of help from the European Central Bank that calmed markets. In a wide-ranging interview with the Bild am Sonntag weekly, Wolfgang Schaeuble also expressed confidence that Germany’s top court would…
Euro losing ground against most major currencies: ECB
The euro has fallen in value against most major currencies in recent months as volatility on the foreign exchange markets has increased in the debt crisis, the European Central Bank said Thursday. “Between the end of April and early August 2012, the effective exchange rate of the euro depreciated overall…
Spanish unemployment hits 25 percent in June
Spain’s jobless rate neared 25 percent in June, officials said Friday, darkening the recession outlook despite relief on financial markets at a vow of support by the European Central Bank. The unemployment rate rose in the second quarter to 24.63 percent and a huge 53 percent among the young, despite…
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