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Financial markets have been pounding euro zone countries with high deficits or debts as well as low economic growth, threatening to force Portugal, Spain and Ireland into a position where, like Greece, they would need to seek financial aid.

Euro zone agrees emergency steps to contain crisis

By: EBR | Friday, May 7, 2010

Euro zone leaders decided on Friday they have special measures ready before financial markets open on Monday to prevent financial turmoil in Greece spreading to other countries such as Spain and Portugal.

EU Commissioner for Economic and Monetary Affairs, Olli Rehn, said:

Gradual economic recovery in progress in the EU

By: EC Press Room | Wednesday, May 5, 2010

The Commission's spring forecast confirms that the economic recovery is in progress in the EU. After having experienced the deepest recession in its history, the EU economy is set to grow by 1% in 2010 and 1¾% in 2011. This implies an upward revision of ¼ percentage point for this year.

EU transport ministers agreed on a single EU immediate response to the ash cloud crisis: a strong message given to the air transport sector.

Key outcomes of the Extraordinary Transport Council

By: EC Press Room | Wednesday, May 5, 2010

EU transport ministers were able to agree on a single EU immediate response to the ash cloud crisis: this is a strong message given to the air transport sector. They supported the Commission's approach on the need for flexibility to ease the pressure on airlines.

The skeptical Millionaires club

By: EBR | Tuesday, May 4, 2010

An exclusive club whose members must have at least $10 million in investable assets and pay $30,000 a year, TIGER 21 is a veritable beehive of skepticism about the industry that wants to get its hands on their money.

EU, IMF agree 110 billion euros bailout for Greece

By: Reuters | Sunday, May 2, 2010

European finance ministers triggered a record 110 billion euro bailout for debt-stricken Greece. Euro zone ministers, approved the three-year package of emergency loans and agreed the first funds would be released in time for Athens to make a big debt repayment to creditors on May 19

Greece is in discussions with the European Union and International Monetary Fund (IMF) on a multi-year rescue package that some officials have said could total up to 135 billion euros ($180 billion).

Greek rescue momentum builds

By: Reuters | Thursday, April 29, 2010

ECB Governing Council member Axel Weber said on Thursday the impact of any Greek debt default on other states would be "incalculable" and urged quick approval of an aid package to prevent market upheaval and contagion to other states.

OECD unemployment rate remains at a level close to post-war highs.

OECD unemployment rate broadly stable at 8.6%

By: EBR | Tuesday, April 13, 2010

The unemployment rate for the OECD area was broadly stable in February 2010 compared with January. The headline rate fell 0.1 percentage point but this reflected the partial unwinding of effects that led to a temporary increase in Korea’s January rate.

The city hosts over 4,000 congresses and conventions every year. There is a wide range of venues on offer, which include Feria de Madrid trade fair grounds (Ifema) and the future International Convention Centre to be opened by 2011.

Madrid: Discover the diversity of a modern and vibrant Metropolis

By: EBR | Wednesday, April 7, 2010

Madrid is an open-minded city where culture, entertainment and business share an attractive, thriving space. Thanks to its modern and cosmopolitan flare and to the friendly and passionate character of Madrilenians, the Spanish capital makes everyone feel right at home!

Markets would remain severely dysfunctional, and regulators would see banks as utilities, not independent agents, and accordingly attempt to limit their returns and to suppress volatility. Strict regulation would be applied not only to systemically important banks but to smaller entities as well. In this scenario, banks would face much tighter capital requirements.

What’s next for global banks

By: McKinsey Quarterly | Monday, April 5, 2010

Banking giants in emerging markets will probably do well in any likely economic scenario. Other banks face a more challenging future. In 2008, as the credit crisis broke, banks underwent near-death experiences on a massive scale. Last year, many enjoyed a recovery that was nearly as abrupt.

The sudden collapses of Bear Stearns, Lehman Brothers, and AIG demonstrated that our framework for supervision and regulation of large, highly leveraged and substantially interconnected financial firms--and the government's toolkit for managing their failure--is profoundly inadequate.

The Meaning of the Lehman Bankruptcy

By: EBR | Monday, March 22, 2010

We all know what happened after Lehman Brothers collapsed. There was a period during which the financial markets simply stopped functioning. No one had ever seen anything quite like this before.Banks and other financial institutions almost completely stopped lending to one another or to anyone else

“If it is necessary (to help Greece), and we do not believe it to be necessary, we have made a decision on the instruments

Euro Group clarifies the technical methods for helping Greece if necessary

By: EBR | Tuesday, March 16, 2010

The Ministers of Economy and Finance of the euro area countries in Brussels, clarified which mechanisms could be applied to help Greece if necessary, paving the way for the Council to make a decision.

The EU2020 strategy aims to focus Member State and Commission action on four key principles: innovation, competitiveness, protection of the environment and social cohesion.

EU Antitrust policy: the road ahead, by Joaquin Almunia

By: Joaquin Almunia, Vice-President of the European Commission responsible for Competition Policy | Monday, March 15, 2010

Competition policy is a tool that can help us overcome the crisis. In the heat of the crisis it helped minimise the distortions created by government intervention in the markets, preserved the Single Market, and averted protectionist moves at national level.

The Group expects a slight recovery of revenues for the current business year. The development of revenue in 2010 will also reflect the first full-year consolidation of the new companies. It is foreseeable that they will not yet contribute to the profitability of the Group this year.

Lufthansa Group ends crisis year 2009 with an operating profit of 130 million euros

By: EBR | Monday, March 15, 2010

Lufthansa has achieved its aim and defied a market-related revenue decline of 2.56 billion euros by posting an operating profit of 130 million euros for 2009. The Group thus earned about 1.2 billion euros less than during the previous year.

Greece welcomes Obama support on speculators

By: BBC News | Wednesday, March 10, 2010

President Barack Obama has "responded positively" to calls to clamp down on market speculators, the Greek PM said after talks in Washington. George Papandreou said the US president had shown his support for Greece, and that the issue would be on the agenda of the next G20 meeting.

In 2005, Goldman sold to the National Bank of Greece an “interest rate swap,” one of the notorious derivatives that have come under scrutiny since the Wall Street implosion of 2008. Greek critics of such dubious debt-hiding transactions had warned their government of the mounting long-term liabilities to the likes of Goldman, but to no avail.

Dateline Greece: Goldman, Just Pay Up

By: The Globalist | Wednesday, March 3, 2010

As Greece teeters on the edge of sovereign default of around $300 billion and sends shudders of premonition throughout the global economy, the fingerprints of Goldman Sachs are once again to be found, as in so many crises beforehand.

John Kent Institute heralds new era in tourism research

By: EBR | Tuesday, March 2, 2010

During a gala in London to celebrate the formal launch of the new Institute Mr Kent , the creator and CEO of youtravel.com and Aquis Hotels and Resorts, announced that applications for the first four new PhD studentships are now invited with successful candidates set to join BU from this Autumn.

Creating a working mobile-money model will be complicated. It calls for coupling physical assets and capabilities from two distinct domains, telephony and banking, as well as for partnerships with a variety of players—some unfamiliar—to manage cash collections and disbursements and promote adoption.

Capturing the promise of mobile banking in emerging markets

By: McKinsey Quarterly | Monday, March 1, 2010

In emerging markets, formal banking reaches about 37 percent of the population, compared with a 50 percent penetration rate for mobile phones. For every 10,000 people, these countries have one bank branch and one ATM—but 5,100 mobile phones.

We are looking into a number of questions related to Goldman Sachs and other companies in their derivatives arrangements with Greece, Mr Bernanke said in response to a question from US Senate banking committee chairman Christopher Dodd.

Wall Street's Greece role probed

By: BBC News | Friday, February 26, 2010

The role of Wall Street firms in deals that may have helped Greece mask its debt woes are under scrutiny in the US, the Federal Reserve chief has said. Fed and the US financial watchdog were "looking into a number of questions" related to banks' derivatives arrangements with Greece.

Every year millions of tourists from all over the world visiting Antalya for it’s beauty also benefit from the Antalya Airport with it’s modern building , latest technology and service provided.

International Tourism & Media Symposium in Antalya, Turkey

By: Christos Trikoukis | Thursday, February 25, 2010

A meeting of over 100 journalists from every corner of the world, dealing with the tourism industry was succesfully held in the city of Antalya, the so called Turkish capital of Tourism, on February 19 - 20, 2010.

If the EU executive body and the ECB consider that the country has not made sufficient progress, they will start talks on imposing additional measures on the Greek Government and will make a formal proposal, which will be submitted to the Euro Group.

Europe gives Greece one month to show first results of adjustment programme

By: EC Press Room | Wednesday, February 17, 2010

The 16 countries of the Eurozone have set Greece a one-month deadline to show the first results of its public finances plan. If the situation is not satisfactory "additional measures" will have to be taken.

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EU Actually

Far-left and far-right gains throw French mainstream parties into a quandary

By: N. Peter Kramer

In many big towns and cities, Socialists and centre-right Republicans are tempted to make electoral pacts on their outside flanks to beat the opposition in next Sunday’s run off of the French mayoral elections.

Europe

EU and the Arab Gulf Must Come Together

The war in Iran proves the United States is now a destabilizing actor for Europe and the Arab Gulf. From protect their economies and energy supplies to safeguarding their territorial integrity, both regions have much to gain from forming a new kind of partnership together.

Business

EU risks losing US soy imports under deforestation rules, Washington warns

The regulation would make the bloc less attractive for American exporters, a senior USDA official said