Yahoo! News: Business - European Economy Copyright (c) 2012 Yahoo! Inc. All rights reserved. http://news.yahoo.com/business/european-economy business Business - European Economy en-us Tue, 14 Feb 2012 16:02:36 GMT 5 Yahoo! News 142 18 http://news.yahoo.com/business/european-economy http://l.yimg.com/a/i/us/nws/th/main_142c.gif Euro zone puts Greek plan under microscope (Reuters) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/nm/20120214/bs_nm/us_eurozone_greece_eurogroup nm/20120214/us_eurozone_greece_eurogroup Reuters business Tue, 14 Feb 2012 16:02:36 GMT Reuters - Greece's bid for a new bailout got close inspection on Tuesday from euro zone officials poring over the details of Athens' budget to decide whether it has met conditions to get the money. Creditors spell out Greece austerity measures (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_europe_financial_crisis ap/20120214/eu_europe_financial_crisis AP business Tue, 14 Feb 2012 16:00:08 GMT AP - Greece's international creditors spelled out the detailed spending cuts and reforms that Athens has to introduce before it can receive vital bailout cash, according to a draft document obtained by The Associated Press on Tuesday. EU debt crisis potential impediment to U.S. growth: Geithner (Reuters) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/nm/20120214/bs_nm/us_usa_economy_geithner nm/20120214/us_usa_economy_geithner Reuters business Tue, 14 Feb 2012 15:01:08 GMT Reuters - Treasury Secretary Timothy Geithner warned on Tuesday that Europe's debt problems along with the slowdown in other major economies present "potential impediments" to U.S. growth. German economy pulls away from European pack (Reuters) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/nm/20120214/bs_nm/us_eurozone_economy nm/20120214/us_eurozone_economy Reuters business Tue, 14 Feb 2012 14:17:11 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/nm/20120214/bs_nm/us_eurozone_economy"><img src="http://d.yimg.com/a/p/rids/20120214/i/r1598126878.jpg?x=130&y=86&q=85&sig=H_fzFptyxAOnBXy7rnBQFQ--" align="left" height="86" width="130" alt="Workers assemble cars at a factory in Stuttgart-Zuffenhausen in this January 24, 2012 file photo. REUTERS/Michael Dalder" border="0" /></a>Reuters - German analyst and investor sentiment leapt to its highest level in 10 months in February, reinforcing signs that Europe's largest economy is returning to growth as the rest of the euro zone faces a mild recession.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/nm/20120214/bs_nm/us_eurozone_economy"><img src="http://d.yimg.com/a/p/rids/20120214/i/r1598126878.jpg?x=130&y=86&q=85&sig=H_fzFptyxAOnBXy7rnBQFQ--" align="left" height="86" width="130" alt="photo" title="Workers assemble cars at a factory in Stuttgart-Zuffenhausen in this January 24, 2012 file photo. REUTERS/Michael Dalder" border="0"/></a></p><br clear="all"/> (Reuters) Eurozone set for Q4 economic contraction (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_europe_economy ap/20120214/eu_europe_economy AP business Tue, 14 Feb 2012 13:56:28 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_europe_economy"><img src="http://d.yimg.com/a/p/ap/20120213/capt.b04efc9723224f15991fe99755ab2171-b04efc9723224f15991fe99755ab2171-0.jpg?x=130&y=86&q=85&sig=B6u_kP6RQRkqMuPFUorltw--" align="left" height="86" width="130" alt="Alda Silva does the bookkeeping of her food store Monday, Feb. 13, 2012 in Lisbon. Small firms with fewer than fifty workers make up more than 99 percent of Portugal's businesses and they're collapsing at an alarming rate. The debt-crippled eurozone country is choking amid grinding austerity measures enacted in return for a 78 billion euro ($103 billion) bailout, a steep recession, an acute shortage of cash, and record unemployment. (AP Photo/ Francisco Seco)" border="0" /></a>AP - A run of downbeat economic news Tuesday reinforced expectations that the 17-nation eurozone's economy shrank during the last three months of 2011 as the government debt crisis dragged on even the biggest and richest countries.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_europe_economy"><img src="http://d.yimg.com/a/p/ap/20120213/capt.b04efc9723224f15991fe99755ab2171-b04efc9723224f15991fe99755ab2171-0.jpg?x=130&y=86&q=85&sig=B6u_kP6RQRkqMuPFUorltw--" align="left" height="86" width="130" alt="photo" title="Alda Silva does the bookkeeping of her food store Monday, Feb. 13, 2012 in Lisbon. Small firms with fewer than fifty workers make up more than 99 percent of Portugal's businesses and they're collapsing at an alarming rate. The debt-crippled eurozone country is choking amid grinding austerity measures enacted in return for a 78 billion euro ($103 billion) bailout, a steep recession, an acute shortage of cash, and record unemployment. (AP Photo/ Francisco Seco)" border="0"/></a></p><br clear="all"/> (AP) When World Cup meets stocks, soccer wins (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_stocks_and_soccer ap/20120214/eu_stocks_and_soccer AP business Tue, 14 Feb 2012 13:56:18 GMT AP - The furious activity in the trading pits of the world's great stock exchanges often gives the feeling that every second is gold dust in the relentless rush to make money. Then all of a sudden it's kickoff time, and everything changes. Swiss defense minister defends Swedish jet deal (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_re_eu/eu_switzerland_fighter_jets ap/20120214/eu_switzerland_fighter_jets AP world Tue, 14 Feb 2012 13:46:38 GMT AP - Switzerland's defense minister has defended a decision to buy Swedish fighter jets, saying it is the best long-term financial choice despite the Swiss Air Force's recommendation to buy other planes. Wall Street falls after retail sales data disappoint (Reuters) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/nm/20120214/bs_nm/us_markets_stocks nm/20120214/us_markets_stocks Reuters business Tue, 14 Feb 2012 14:50:49 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/nm/20120214/bs_nm/us_markets_stocks"><img src="http://d.yimg.com/a/p/rids/20120214/i/r2521205839.jpg?x=130&y=86&q=85&sig=0UVDsvF8uXsZnRBS8o0PHA--" align="left" height="86" width="130" alt="Traders work on the floor of the New York Stock Exchange February 7, 2012. REUTERS/Brendan McDermid" border="0" /></a>Reuters - The S&P 500 index retreated from near a seven-month high Tuesday after weaker-than-expected January U.S. retail sales data curbed investors' appetite for risky assets.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/nm/20120214/bs_nm/us_markets_stocks"><img src="http://d.yimg.com/a/p/rids/20120214/i/r2521205839.jpg?x=130&y=86&q=85&sig=0UVDsvF8uXsZnRBS8o0PHA--" align="left" height="86" width="130" alt="photo" title="Traders work on the floor of the New York Stock Exchange February 7, 2012. REUTERS/Brendan McDermid" border="0"/></a></p><br clear="all"/> (Reuters) A look at Greece's austerity measures (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_europe_financial_crisis_glance ap/20120214/eu_europe_financial_crisis_glance AP business Tue, 14 Feb 2012 13:25:07 GMT AP - Greece's international creditors have spelled out the austerity measures promised by Athens that have to be put into practice before it can receive new bailout cash, totaling more than euro2.5 billion ($3.31 billion). Greece rushes to meet lender demands (Reuters) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/nm/20120214/bs_nm/us_greece nm/20120214/us_greece Reuters business Tue, 14 Feb 2012 12:53:09 GMT Reuters - Greece's government rushed on Tuesday to find 325 million euros in budget cuts to satisfy euro zone finance ministers deciding whether to sign off on a rescue package to save the country from a chaotic default. Portugal records double-dip recession in 2011 (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_portugal_financial_crisis ap/20120214/eu_portugal_financial_crisis AP business Tue, 14 Feb 2012 12:26:01 GMT AP - Portugal's economy contracted by 1.5 percent last year, pitching it into a double-dip recession amid an acute financial crisis, the country's statistics agency reports. Greek economy stuck in deep recession (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_greece_financial_crisis ap/20120214/eu_greece_financial_crisis AP business Tue, 14 Feb 2012 12:07:17 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_greece_financial_crisis"><img src="http://d.yimg.com/a/p/ap/20120214/capt.796fa60cdd4f47c399f1873d9f410239-796fa60cdd4f47c399f1873d9f410239-0.jpg?x=130&y=86&q=85&sig=pDF07K9ZZQ7UbdKSZei3SA--" align="left" height="86" width="130" alt="A worker cleans the sign of the Bank of Greece from red and black paint, after Sunday's riots, in Athens, on Tuesday, Feb. 14, 2012. Firefighters doused smoldering buildings and cleanup crews swept rubble from the streets of central Athens following a night of rioting during which lawmakers approved harsh new austerity measures demanded by bailout creditors to save the nation from bankruptcy. (AP Photo/Thanassis Stavrakis)" border="0" /></a>AP - The Greek economy remained stuck in a deep recession in the fourth quarter, according to official figures released Tuesday that confirm the painful effects of austerity reforms intended to lower debt.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_greece_financial_crisis"><img src="http://d.yimg.com/a/p/ap/20120214/capt.796fa60cdd4f47c399f1873d9f410239-796fa60cdd4f47c399f1873d9f410239-0.jpg?x=130&y=86&q=85&sig=pDF07K9ZZQ7UbdKSZei3SA--" align="left" height="86" width="130" alt="photo" title="A worker cleans the sign of the Bank of Greece from red and black paint, after Sunday's riots, in Athens, on Tuesday, Feb. 14, 2012. Firefighters doused smoldering buildings and cleanup crews swept rubble from the streets of central Athens following a night of rioting during which lawmakers approved harsh new austerity measures demanded by bailout creditors to save the nation from bankruptcy. (AP Photo/Thanassis Stavrakis)" border="0"/></a></p><br clear="all"/> (AP) Creditors spell out further Greece austerity (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_germany_financial_crisis ap/20120214/eu_germany_financial_crisis AP business Tue, 14 Feb 2012 11:23:26 GMT AP - A new document from Greece's international creditors spells out what further austerity measures they expect Athens to implement to receive fresh cash and avoid default. Italian borrowing costs ease (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_italy_financial_crisis ap/20120214/eu_italy_financial_crisis AP business Tue, 14 Feb 2012 10:45:58 GMT AP - Italy saw its borrowing costs drop as it raised nearly euro6 billion ($7.8 billion) in bonds Tuesday. Spain easily sells $7.16 bln in short-term debt (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_spain_financial_crisis ap/20120214/eu_spain_financial_crisis AP business Tue, 14 Feb 2012 10:37:34 GMT AP - Spain has successfully sold euro5.4 billion ($7.16 billion) in short-term debt with strong demand and interest rates down despite the country's latest credit rating downgrade. UK inflation rate drops to 3.6 percent (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/eu_britain_economy ap/20120214/eu_britain_economy AP business Tue, 14 Feb 2012 10:30:06 GMT AP - Britain's inflation rate fell to 3.6 percent in the year to January from 4.2 percent the previous month, official figures showed Tuesday, to the likely relief of cash-strapped households which have seen muted pay increases more than eaten up by rising prices. US retail sales disappointment weighs on markets (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/world_markets ap/20120214/world_markets AP business Tue, 14 Feb 2012 15:52:50 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/world_markets"><img src="http://d.yimg.com/a/p/rids/20120214/i/r3844634703.jpg?x=130&y=86&q=85&sig=_ITpd6AiUtRPUaDYC_hoqg--" align="left" height="86" width="130" alt="Traders work on the floor of the New York Stock Exchange February 7, 2012. REUTERS/Brendan McDermid" border="0" /></a>AP - Weaker than expected U.S. retail sales figures dented market confidence Tuesday after another mass downgrade of the creditworthiness of European countries had little impact.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120214/ap_on_bi_ge/world_markets"><img src="http://d.yimg.com/a/p/rids/20120214/i/r3844634703.jpg?x=130&y=86&q=85&sig=_ITpd6AiUtRPUaDYC_hoqg--" align="left" height="86" width="130" alt="photo" title="Traders work on the floor of the New York Stock Exchange February 7, 2012. REUTERS/Brendan McDermid" border="0"/></a></p><br clear="all"/> (AP) The man behind Europe's debt downgrades (Reuters) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/nm/20120213/bs_nm/us_europe_ratings_kraemer nm/20120213/us_europe_ratings_kraemer Reuters business Mon, 13 Feb 2012 19:00:21 GMT Reuters - On January 13, Standard & Poor's Ratings Services cut the credit ratings of nine euro zone countries, stripping France and Austria of their triple-A status and ringing alarm bells in global financial markets about the region's financial health. Summary Box: Cyprus opens oil, gas drilling area (AP) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/ap/20120213/ap_on_bi_ge/eu_cyprus_drilling_summary_box ap/20120213/eu_cyprus_drilling_summary_box AP business Mon, 13 Feb 2012 18:54:02 GMT AP - HERE'S THE DRILL: Cyprus has launched a second licensing round for offshore exploratory drilling as hopes grow that potential oil and gas discoveries will buoy the eurozone country's sagging economy. EU should respond rapidly to Myanmar reforms: top EU official (Reuters) http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http://news.yahoo.com/s/nm/20120213/wl_nm/us_myanmar_eu nm/20120213/us_myanmar_eu Reuters world Mon, 13 Feb 2012 18:48:53 GMT Reuters - The European Union should respond fast to changes under way in Myanmar driven by a former military junta leader and "key reformer" committed to democracy and boosting the country's economy, a top EU official said on Monday.