European Central Bank

Eurozone recession continues

2013-05-16 00:00:00

WASHINGTON — Europe's recession stretched into the first three months of the year, making it the single-currency region's longest downturn and raising concerns about its effect on the U.S. recovery. The 17-nation Eurozone economy contracted 0.2%...

Eurozone economy shrinks in first quarter, marking longest recession

2013-05-15 06:17:00

WASHINGTON -- The Eurozone economy contracted 0.2% in the first three months of the year compared with the previous quarter, marking the region's longest recession since its single currency was created in 1999. The 17-nation Eurozone now has been in...

Bloomberg in damage-control mode over client snooping

2013-05-14 00:00:00

Officials at Bloomberg, the New York financial news and information service, scrambled to deal with an unfolding customer privacy scandal after admitting its journalists had snooped on business clients for years through its network of terminals ubiquitous...

Europe could drop interest rate below zero on excess bank deposits

2013-05-13 08:27:00

WASHINGTON -- The European Central Bank could reduce the interest rate it pays on excess bank deposits to below zero to boost growth in the recession-plagued region, a top official said. The comments over the weekend by Italian Central Bank chief...

European Central Bank cuts key interest rate to fight recession

2013-05-02 06:12:00

WASHINGTON -- The European Central Bank on Thursday lowered its key interest rate to a record low level in an effort to spur economic growth in the recession-plagued Eurozone. The central bank's policymakers lowered its main refinancing rate by 0.25...

Greek bank stocks plunge after merger freeze

2013-04-08 14:25:00

ATHENS — Greek bank stocks plunged 30% on Monday, the maximum allowed in a day, after plans to merge the country's two biggest lenders were suddenly frozen. The surprise freeze came amid testy talks between the government and international...

Eurozone's unemployment climbs to 12.1%, a fresh record high

2013-04-30 06:45:00

WASHINGTON -- The Eurozone's unemployment rate hit a record high of 12.1% in March as the region continued to struggle with recession, government officials said Tuesday. The seasonally adjusted jobless rate for the 17-nation group topped the previous...

Greek bank stocks plunge as merger is frozen

2013-04-08 07:28:00

ATHENS – Fears concerning Greece’s efforts to fix its faltering economy flared anew Monday as bank shares sank 30% -- the maximum allowed in a day -- after plans to merge the country’s two biggest lenders were suddenly frozen. Investors...

Bank of Japan unveils bold plan to lift economy, combat deflation

2013-04-04 17:45:00

Japan's central bank took a massive bet to reset its economy and pull out of nearly two decades of deflation. The Bank of Japan announced an aggressive and ambitious plan Thursday to expand its purchase of long-term bonds and double the amount of...

Cyprus bailout: How the tiny country got here

2013-03-28 07:56:00

As banks opened their doors Thursday for the first time in nearly two weeks in Cyprus, the odyssey over the nation's financial crisis and ensuing bailout took its newest turn. If you haven’t followed the economic drama in this Mediterranean island,...

Cyprus locked in tense talks with international lenders

2013-03-24 16:46:00

ATHENS -- Officials from Cyprus and international lenders were locked in long and tortuous talks Sunday, trying to strike a deal on a rescue plan that would keep the island’s failing banks from collapsing while maintaining membership in Europe&...

Cyprus faces Monday deadline to find $7.5 billion

2013-03-21 13:04:00

ATHENS -- The clock began ticking for Cyprus on Thursday when the European Central Bank warned the beleaguered country that it had until Monday to find $7.5 billion needed to qualify for a financial bailout. The stern ultimatum that the European Central...

The euro logo is incorporated in a sculpture in front of the European Central Bank in Frankfurt, Germany.

2013-02-07 00:00:00

European Central Bank President Mario Draghi earlier this month. On Thursday, Draghi said the ECB would "do whatever it takes to preserve the euro."

2012-07-26 08:24:00