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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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Slovenia’s benchmark bonds rallied, pushing the yield to the lowest in almost two weeks, as investors disregarded a credit rating cut by Fitch Ratings amid government efforts to pull the nation out of a recession.
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Slovenia’s sovereign-credit grade was cut by Fitch Ratings, which cited a worsening economic outlook and a widening budget deficit as the euro-area nation battles to rescue its banking industry and avoid a bailout.
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Time may be running out for Alenka Bratusek, the Slovenian prime minister who is resisting a bailout as global bond markets put her on the front lines of Europe’s debt crisis.
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International investors are the most bullish they’ve been on the U.S. and Japanese markets in more than 3-1/2 years as both countries’ economies are seen as improving, according to the latest Bloomberg Global Poll.
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Mercator Poslovni Sistem d.d. reported a net loss in the first quarter, saying the economic crisis in Slovenia and the region continues to hurt sales of the largest supermarket chain in the Balkans.
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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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Cyprus got its first emergency-aid payment as euro-area finance ministers set to work avoiding a bailout in Slovenia.
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Austria’s central bank said Hypo Alpe-Adria-Bank International AG will likely avoid a 16 billion- euro ($21 billion) insolvency as policy makers negotiate with the European Commission over the nationalized lender.