Cypriot MPs vote on a controversial bailout package during a parliament session in Nicosia on March 19, 2013. The Cypriot parliament has voted against a revised bank deposit levy. The tax was meant to shave 9.9% off any deposits over €100,000 and has since caused uproar in the country. Thirty six deputies voted against the proposal to tax bank deposits in the 56-member chamber, while 19 abstained.... 

The European Central Bank is under pressure from US lawmakers over financial relations with the Iran. The legislators are masterminding a bill aimed at preventing the ECB doing any business with Tehran and keeping it from using the euro. The measure is more pressure by the US over Iran’s nuclear program. The draft is believed to be targeting the ECB’s cross-border payment system Target2,... 

Greek lawmakers have approved a new tax legislation intended to increase government revenues by 2.3 billion-euro (3 billion USD) in the following months. The new tax bill was approved with the support of the majority of the lawmakers in the 300-member parliament early on Saturday. The new legislation aims to tax any income above 42,000 euros (56,000 USD) per year at 42 percent. The passage of the... 

The Euro logo outside the headquarters of the European Central Bank, Frankfurt am Main Germany. Manufacturing sectors in France and other eurozone countries have entered 2013 in a downward trend as new data shows a decrease in demand of orders. Contractions of manufacturing in the eurozone in December included all top four economies in the bloc, according to Markit’s manufacturing Purchasing Managers’... 

European Central Bank (ECB) Governing Council member Erkki Liikanen Member of the European Central Bank (ECB) Governing Council Erkki Liikanen warns that the worsening financial condition in the eurozone may endanger the ‘German economy’. “Economic developments are causing us concern. No country is immune to the effects of the (EU) debt crisis. Not even the German economy,” said Liikanen on... 

Provisional figures released by Greece’s national statistics authority have shown the country’s deficit and public debt for 2011 are worse than estimated. According to provisional data published by ELSTAT statistics agency on Monday, the 2011 deficit stood at 9.4 percent of gross domestic product and the public debt at 170.6 percent. “The revisions as regards the debt ratios are primarily... 

Former ECB Chief Economist Says ECB Is In Panic. If anyone thought the bad blood between Germany and the rest of the insolvent proletariat, aka the part of the Eurozone which is out of money (most of it), and which has been now confirmed will be supporting Obama (one wonders what the quid for that particular quo is, although we are certain we will find out as soon as December), complete collapse of... 

The EU and Spain are trying to come to terms over a rescue plan for the debt ridden European economy. The government remains unwilling to apply for international aid, but analysts say asking for a bailout is essential. A new Spanish rescue programme to be announced next Thursday will be focused on the measures international lenders would ask in return for a bailout. As the ECB money always comes with... 

Euro zone finance ministers want a clear cut answer from Spain whether it will seek financial support after Madrid’s borrowing costs sharply lowered following the European Central Bank decision to buy bonds last week. Will Spain ask for its bailout, so that the ECB’s unlimited bond buying project can be launched? This question has recently been number 1 in Europe. The ECB has made it clear... 

Greek Finance Minister Yiannis Stournaras talks to the press after meeting with the EU-IMF-ECB troika at the prime minister’s office in Athens on September 10, 2012. Greek Finance Minister Yannis Stournaras says the cash-strapped euro member has offered its multi-billion-euro austerity program to its troika of international auditors. “We have submitted the 11.5-billion-euro ($14.7 billion)... 

China is considering buying more EU government bonds amid a worsening European debt crisis in order to support its biggest trading partner, according to Chinese Premier Wen Jiabao. “China is willing, on condition of fully evaluating the risks, to continue to invest in the eurozone sovereign debt market, and strengthen communication and discussion with the European Union, the European Central... 

The European currency euro logo stands in front of the European Central Bank (ECB) in Frankfurt, Germany. Business confidence has dropped in Germany to its lowest level in more than two years amid pessimism over the eurozone’s deteriorating debt crisis, data show. According to the German research institute, Ifo, the country’s Business Climate Index fell to 102.3 points in August from 103.2 points... 

A financial analyst says the eurozone bankers and policy makers are responsible for the bloc’s deepening economic crisis, Press TV reports. “The eurozone is really not in the bad shape that the policy makers tell us it is in. They are basically extorting us into accepting things like transforming the European stability mechanism, the new financing fund into a bank which allows them to get ten... 

Portuguese workers protest in a demonstration against the government’s austerity measures, Lisbon, June 16, 2012. People in Portugal have staged a protest rally against the government’s austerity measures imposed to help cap the country’s public debt. Thousands took to the streets of Lisbon on Saturday following a much larger rally in the northern city of Oporto last week. They condemned... 

Ten years ago, the world’s youngest and most ambitious currency – the euro – became materialized. Twelve countries of the European Union launched the new monetary unit in circulation. The new currency was born in one of the largest cities of Germany – Frankfurt-am-Main – where the European Central Bank is headquartered. Citizens of Austria, Belgium, Germany, Ireland,...