Disappointing EU Factory Data Raises Doubts About Recovery

Eurozone manufacturing numbers plunged in July to their lowest level in three years, according to newly-released macroeconomic data. A fall of 1.5% in industrial output was reported across the 17-country Eurozone, instead of the 0.1% increase forecast by economists. The drop, reported by European Union statistics agency Eurostat, raises serious questions about whether European leaders […]

An Austerity Success Story? Latvia to Join Eurozone

Speaking at a press conference last Wednesday in Brussels, the European Union’s Economic Affairs Commissioner Olli Rehn announced that the European Commission has approved Latvia’s application to become the 18th member of the eurozone. Latvia’s desire to join the zone comes at an critical moment for the other 17 members, many of which continue to […]

Tensions High on Eve of Cyprus Bailout Deadline

Updated March 25: After striking a pre-dawn agreement with representatives from the E.U. and IMF to avoid imminent bankruptcy, Cypriot officials announced Monday March 25 that several of the nation’s largest banks will remain closed this week to avoid a public run on these financial institutions.  Uninsured Cypriot bank accounts may see up to a 30% […]

Hollande Concedes that France Will Not Reach 3% Deficit Target

Following the European Commission’s economic estimates last month regarding Europe’s economies, François Hollande has announced that France will officially miss its goal to reduce the deficit to 3% from the current 4.5% for the 2013 fiscal year.  This is a particularly rough blow to Hollande, who centered his election campaign on the promise to reach […]

Is the Rise of the Euro Hurting European Economies?

On Tuesday, February 5 French President Francois Hollande expressed his complaint over an overvalued euro that does not represent the current state of the economy, claiming it is hurting the French.  During his speech Hollande asked the European Parliament to commit to reform of the currency that is currently at $1.35, a 12 percent increase […]

Brussels European Summit: France and Germany Divided

French and German governments have expressed their disagreement this week as members of the Euro Zone meet to discuss the project of a European Banking Union at the European summit, taking place October 18th and 19th. Angela Merkel said she was in favor of a step-by-step integration, whereas her French colleague said he wanted to […]