Olli Rehn News
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The French economy fell into its third recession in four years, increasing pressure on President Francois Hollande to adopt policies to revive growth.
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Slovenia is seeking to convince investors and the European Union that its overhaul plan will help fix the bank industry and make sure the nation avoids asking for a bailout.
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Slovenia is right to say it doesn’t need a bailout, German Finance Minister Wolfgang Schaeuble said as the country’s benchmark bond declined.
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Spanish politicians trying to cushion the blows of austerity plan to seize foreclosed homes to house the needy, discouraging foreign investment and threatening to violate terms of the European bailout of the country’s banks.
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France’s Finance Minister Pierre Moscovici said that his country is suffering “adjustment fatigue” as he reiterated his government’s push for policies to spur growth and fight unemployment.
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Global finance chiefs clashed over the correct speed of budget cutting as they sought fresh ways to rally the slowing world economy.
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U.S. Treasury Secretary Jacob J. Lew said European policy makers are still falling short in efforts to revive their economy, intensifying pressure on them to further ease their budget-cutting.
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Hungary is freezing some budget expenditures and is ready to take further steps, including raising Europe’s highest bank levy, to exit the European Union’s budget monitoring and remove the threat of funding cuts.
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Hungary is seeking to avoid austerity measures as it works to end nine years of European Union budget monitoring and remove the threat of funding cuts, government and ruling party officials said.
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Slovenia offered an economic overhaul that includes tax increases as the government seeks to prove it’s able to pull itself out of a recession and a banking crisis without outside assistance.
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