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The euro lies at the root of Europe’s record unemployment rate and countries such as Spain and Greece should quit the common currency to return to economic health, said the head of Germany’s fledgling anti-euro party.
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European Central Bank President Jean-Claude Trichet talks about the decision to raise the benchmark rate by 25 basis points to 1.5 percent and to ease Portugal’s access to emergency funds.
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Nov. 27 (Bloomberg) -- David Tweed, Bloomberg European Editor, examines the agreement by E.U. finance ministers to cut rates on Greek bailout loans. He speaks on Bloomberg Television's "In The Loop."
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Bloomberg Europe Editor David Tweed explores the shifts and cracks in the euro zone that are dominating world headlines. We ask the question: can the single currency survive? Guests include Erik Neilsen, Steven Major & Georg Grodzki. (Source: Bloomberg)
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The yen fell for a fourth day against the dollar after the Group of 20 gave Japan leeway to reflate its economy by indicating the nation’s monetary stimulus plan doesn’t contravene a pact to avoid currency devaluations.
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Following is the text of European Central Bank President Mario Draghi’s comments from his monthly news conference in Ljubljana, Slovenia, today:
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Euro-area finance ministers will “do whatever it takes” to protect bank accounts after their “unique” decision on a deposit tax in Cyprus as part of a rescue package, Luxembourg Finance Minister Luc Frieden said.
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Greek Finance Minister Yannis Stournaras, appointed in June as Greece grappled with political turmoil that threatened to tip it out of the euro, says the economy could begin recovering by the end of this year as investors and depositors regain confidence in the country.
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Greek Finance Minister Yannis Stournaras said the strength of the euro is a concern even as its current level shows a return in confidence in the 17-nation currency.
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Bloomberg’s David Tweed reports on the European banking crisis. He speaks with Bloomberg's Adam Johnson on Bloomberg Television's "InBusiness." (Source: Bloomberg)