Europe News

Related Travel Information

WRAPUP 2-IMF revamp in doubt as Europe joins objectors

WRAPUP 2-IMF revamp in doubt as Europe joins objectors Plans to reinvigorate the International Monetary Fund by increasing the clout of China and other emerging economies appeared to suffer a severe blow on Tuesday as staunch objections from Europe surfaced publicly. A European Union source said EU finance ministers approved granting China and other rising stars of the global economy more voting power at the IMF, but would not back any reform that would reweight voting rights solely based on gross domestic product. In Washington, IMF boss Rodrigo Rato, who wants IMF reforms agreed at meetings in Singapore on Sept. 19-20,

Europe bourses may rethink growth

Europe bourses may rethink growth The departure of Eurex AG's chief executive after a US expansion flop caps a dismal year for the growth ambitions of Europe's big securities exchanges, signalling a strategic rethink is required. Analysts suggest that cooperation, rather than confrontation, could be the order of the day in 2006 after plans for takeover bids for the London Stock Exchange stalled or failed in 2005. Euronext and Deutsche Boerse will need to clarify growth strategies as competition intensifies and the ability of European players to steal liquidity from elsewhere is thrown into doubt - as Eurex's US experience underlines. "It seems that

OECD sees economic recovery spreading to Europe, Japan

OECD sees economic recovery spreading to Europe, Japan PARIS (AFX) - Global economic growth has remained robust in the face of rising oil prices and the economic recovery is now expected to spread to countries where growth has been weak until recently, the OECD said in its semiannual economic outlook. 'Already strong in North America and most of Asia, economic momentum now looks well established in Japan, and continental Europe is progressively recovering from its latest bout of weakness,' chief economist Jean-Philippe Cotis said. Global growth has been 'exceptionally vigorous', with the most resilient economies weathering the impact of higher oil

EU leaders carry competing visions of Europe into crucial meeting

EU leaders carry competing visions of Europe into crucial meeting EU leaders opened a two-day summit meeting on Thursday amid acrimonious disagreements over the bloc's proposed seven-year budget that threaten to plunge the Union into political and economic paralysis. At issue in the talks are two competing visions of Europe: One calls for generous transfers of aid from the wealthy nations of the West to the formerly Communist nations of the East, as well as generous subsidies for uncompetitive industries, like farming; the other envisions a leaner association of nation states that focuses instead on economic modernization, especially in the slow-growing

Russia reliable supplier of energy resources to Europe - Putin

Russia reliable supplier of energy resources to Europe - Putin Russian President Vladimir Putin, currently on an official visit to Hungary, said Tuesday that Russia had been a reliable supplier of energy resources to Europe. "I believe no one in Europe should doubt the reliability of [energy] supplies," Putin said. He added that Russia had not encountered any difficulties with energy supplies, even during economic hardship, particularly in the 1990s. The Russian leader said the country's natural gas deliveries to Europe were increasing with the growing demand from European countries, and that additional gas transportation infrastructure was needed to meet the demand, including the