The euro area’s economy emerged from a record-long recession in the second quarter, led by Germany and France, amid the first sustained period of financial-market calm since the start of the debt crisis.
Portuguese Prime Minister Pedro Passos Coelho pledged to push ahead with a government reshuffle and to finish the country’s bailout program on time after winning the president’s backing to see out his term.
Portuguese Prime Minister Pedro Passos Coelho presented the country’s president with a plan to hold the government together after the leader of his coalition partner announced his resignation from the Cabinet this week.
European Union Economic and Monetary Affairs Commissioner Olli Rehn has emerged as the frontman for crisis-management policies driven out of Berlin that are spreading economic pain as debt turmoil reignites.
A Deutsche Lufthansa AG strike is a symptom of economic rebalancing that eventually will help the euro area recover from its financial crisis, European Union Economic and Monetary Affairs Commissioner Olli Rehn said.