Euro Zone

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Debt crisis strikes at Europe's heart

Spain's centre-right People's Party (Partido Popular) leader Mariano Rajoy (R) embraces his wife Elvira at a balcony of the party headquarters after claiming victory in Spain's general elections in Madrid November 20, 2011. The opposition People's Party won a crushing victory in Spain's election on Sunday as voters vented their rage on the ruling Socialists for the worst economic crisis in generations.    REUTERS/Andrea Comas

Europe's sovereign debt crisis is hurting the core of the 17-country euro zone, the EU's economic and monetary affairs commissioner says, as Spanish voters punish socialists for high unemployment and a stagnant economy.   Full Article 

EU's Barnier to propose new rules on bank fees

BRUSSELS - The European Union's executive will propose new rules for bank fees after failing to persuade the industry to make its charges more transparent, a spokeswoman for the EU official in charge of regulating finance said on Monday.

21 Nov 2011

Moody's warns on French rating outlook

PARIS - Moody's warned France on Monday that a sustained rise in its debt yields coupled with weakening economic growth could harm its ratings outlook, fuelling concern the euro zone's second largest economy might lose its coveted AAA status.

France, Money 21 Nov 2011

ECB keeps handbrake on as bond buys hit 8 billion euros

FRANKFURT - The European Central Bank showed no sign on Monday of bowing to fierce political pressure to ramp up its purchases of troubled euro zone governments' bonds, with data showing it restricted its spending to 8 billion euros last week.

France, Italy 21 Nov 2011

Spain election fails to soothe nervous debt

MADRID - A resounding election victory by Spain's center-right People's Party failed to calm nervous debt markets on Monday as concern over the deepening euro zone crisis and a lack of concrete proposals meant risk premiums continued to climb.

World, 21 Nov 2011

Turkish president attacks euro zone management

LONDON - A lack of political will and failure to take courageous decisions has worsened the crisis in the euro zone, Turkish President Abdullah Gul said on Monday, in a strongly worded attack on countries in the currency bloc.

21 Nov 2011

Euro zone not working, words alone won't fix it: Buffett

IWAKI, Japan - Billionaire investor Warren Buffett said Europe's debt crisis had shown up a "major flaw" in the 17-member euro zone system and it would take more than words to fix it.

21 Nov 2011

ECB's role needs debate, won't print money: Nowotny

VIENNA - European Central Bank policymakers have to discuss the central bank's next moves but the ECB will not just start printing money in response to the euro zone debt crisis, Governing Council member Ewald Nowotny said on Monday.

21 Nov 2011

EU's Barnier: Tougher rules must precede euro bonds

PARIS - Michel Barnier, the European Union's markets commissioner, said on Sunday he was in favor of euro zone countries pooling their debt together but warned that tougher oversight of national budgets was needed first.

20 Nov 2011

Spain's cautious Rajoy thrust into crisis role

MADRID - Mariano Rajoy, who will become Spain's new prime minister after a sweeping election victory on Sunday, is a cautious moderate who makes an unlikely crisis manager for a country engulfed in the euro zone's debt crisis.

World, 20 Nov 2011

INSIGHT INTO THE DEBT CRISIS

EXPLAINING EUROPE'S CONUNDRUM

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