Associated Press
| Jul 13, 2012
Thousands of Spanish civil servants took to the streets Friday in angry protest as the government approved sweeping austerity measures that include wage cuts and tax increases. In July, Spain will become the fourth country in the eurozone to recei...
Euronews
| Jun 29, 2012
Italy and Spain meet in Warsaw in the final of the euro 2012 on Sunday. And both countries will be pleased with their performance in the political arena too as the crucial EU summit goes into a final day. The deal allows bailout funds to go di...
ABC News (Australia)
| Jun 20, 2012
As Greek politicians clinch a deal to form a new pro-euro coalition government, Philip Williams reports from Athens on the tough task the country's leaders now face.
Telegraph.co.uk
| Jun 20, 2012
Evangelos Venizelos, leader of the socialist PASOK party, confirms that Greek political parties have agreed to form a coalition government that will seek to keep Greece in the euro, led by the conservative New Democracy party. However, he also st...
ABC News (Australia)
| Jun 18, 2012
Greece's pro-bailout New Democracy party is working to quickly form a coalition government after its narrow victory over left-wing Syriza in the weekend's election.
LinkAsia
| Jun 15, 2012
China's May trade growth was double what experts had predicted, but the Chinese government isn't celebrating yet. State broadcaster CCTV explains how the continuing Europe's faltering economy could drag China's economy down with it.
LinkAsia
| Jun 15, 2012
Europe is far and away the largest market for Vietnamese wood products, an important staple of the country's exports. Vietnamese broadcaster VTV4 reports on the effect of Europe's debt crisis on the wood products industry.
Al Jazeera English
| Jun 15, 2012
Greek voters go to the polls for the second round of a general election on Sunday. The country is voting for a new government, and the choices appear stark. A vote for left-leaning Syriza party -- led by Alexis Tsipras -- would cancel the intern...
Council on Foreign Relations
| Jun 14, 2012
Ahead of parliamentary elections in Greece on June 17, the Council on Foreign Relation's Sebastian Mallaby highlights three ramifications of a potential subsequent Greek exit from the euro: How will a Greek exit impact Greece? What will a Greek ex...
Reuters
| Jun 14, 2012
As Greeks prepare to vote for the second time this year, there is uncertainty about whether the resulting government will back the massive austerity measures necessary to secure the country's future in the Eurozone. This is fueling a massive run o...
— Feb 2 at 08:28 am
...by the consequences of the weak economy. In December, 5.7 million young people in the EU were unable to find work. In the crisis states of Spain...
— last Thursday at 02:32 pm
...and expanded at a 2.5% annual rate in the first quarter. But the Eurozone has struggled as several southern European nations have enacted auster...
— May 15 at 07:25 am
...percent for 2013. At the same time, the commission said the eurozone economies, Spain, Italy and the Netherlands, would suffer from recession th...
— last Wednesday at 09:47 pm
...the region in the financial crisis of 2008-2009. The European Union statistics office said Wednesday that nine of the 17 EU countries that use t...
The eurozone, officially called the euro area, is an economic and monetary union of 17 European Union member states that have adopted the euro as their common currency and sole legal tender. The eurozone currently consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. Other EU states are obliged to join once they meet the criteria to do so. No state has left and there are no provisions to do so or to be expelled.
Monetary policy of the zone is the responsibility of the European Central Bank which is governed by a president and a board of the heads of national central banks. The principal task of the ECB is to keep inflation under control. Though there is no common representation, governance or fiscal policy for the currency union, some co-operation does take place through the Euro Group, which makes political decisions regarding the eurozone and the euro. The Euro Group is composed of the finance ministers of eurozone states, however in emergencies, national leaders also form the Euro Group.
(via Freebase)
