The European Central Bank acted to increase its financial firepower in the euro zone debt crisis on Thursday by deciding to almost double its capital to cope with increased credit risk and market volatility. The ECB, in charge of monetary policy in the 16-nation euro area, announced the move as European Union leaders gathered in [...]
BRUSSELS — Unemployment in the 16-nation euro zone held stable at 10 percent in May, a sign that a long and steady deterioration in the labor market may have stopped. But the outlook remains pessimistic as government austerity programs start to bite. The European Union’s statistical office also said producer prices remained subdued in May, [...]
FRANKFURT—A generous European Central Bank allotment of some €111 billion ($136 billion) in six-day funds on Thursday helped to reduce uncertainty in the euro zone’s marketplace for banks’ liquidity provisions, traders said. The ECB satisfied all bids of 78 bidders at a 1% fixed rate. The bid-ask spread for overnight funds, which the ECB sees [...]
The euro fell broadly on Monday, retreating from last week’s gains, as the Spanish central bank’s takeover of a small savings bank added to worries about economic growth in the euro zone. The Bank of Spain on Saturday said it had taken over CajaSur following the failure of its planned merger with another regional lender. [...]
(Reuters) – Gold rose to three-month highs in Europe on Friday as concern over the fiscal outlook for peripheral euro zone economies boosted safe haven flows into the precious metal, with a rebound in the euro also lifting prices. Holdings of the world’s largest gold-backed exchange-traded fund, New York’s SPDR Gold Trust, rose nearly 10 [...]
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