Euro-zone crisis

The truth about the EU

People need to have a better understanding of the strengths of the EU, as well as the general situation there. Photo: AFP

Riots against austerity measures, soaring unemployment and a bleak economic outlook: the recent news from Europe has been somewhat gloomy.

Monday, 25 March, 2013, 10:12am

Rents in Dubai gain from euro zone crisis, Arab Spring

Apartment and villa rents in Dubai climbed an average 17 per cent last year.

Apartment and villa rents in Dubai climbed an average 17 per cent last year as the Persian Gulf business hub benefits from the euro-zone crisis and the so-called Arab spring, according to Asteco Property Management.

30 Jan 2013 - 4:07am

EU leaders receive Nobel Peace Prize

French President Francois Hollande and German Chancellor Dr Angela Merkel take the plaudits in the Norwegian capital. Photo: EPA

European Union Nobel Peace Prize winners pledged at the award ceremony yesterday “to stand by” the euro, saying the single currency was one of the strongest symbols of unity in the bloc’s 60-year history.

11 Dec 2012 - 4:48am

Italy PM Mario Monti says he will resign soon

Italian Prime Minister Mario Monti

Premier Mario Monti told the Italian president Saturday he will resign soon, saying he can no longer govern after Silvio Berlusconi’s party withdrew crucial support. It could open the way for early elections a year after the unelected economist helped pull the country back from the brink of financial disaster.

9 Dec 2012 - 10:14am

Europe's Plan C for Greece no better than previous plans

A plan for Greece to grow its way out of its debt problem appears to be just one of a long line of stopgap measures. Photo: Bloomberg

Europe's leaders have reached Plan C in their efforts to rescue Greece. Unfortunately, it lacks a crucial element also absent in plans A and B: adequate debt relief.

29 Nov 2012 - 3:46am

Greek PM Antonis Samaras tells euro partners to pay up on promised loans

Antonis Samaras says Greece has done its part. Photo: Reuters

Greece reacted with dismay to a failure by European finance ministers to agree to release up to €44 billion (HK$436 billion) of rescue loans it vitally needs, with the prime minister warning that the stakes are higher than his debt-ridden country's future.

22 Nov 2012 - 4:08am

Spain plans to lure Chinese property buyers with residency permit

Spain is trying to revive its collapsed real estate market.

Spain plans to offer residency permits to foreigners who buy houses priced at more than 160,000 euros (HK$1.59 million) in a bid to revive its collapsed real estate market and divest itself of hundreds of thousands of unsold homes.

21 Nov 2012 - 4:17am

Greece on the edge

Greece is likely to need another aid package after 2014 despite having undergone the biggest sovereign restructuring in history. Photo: AFP

European finance ministers aim to stitch together Greece's next aid payment this week as a sputtering euro-area economy and a dispute with the International Monetary Fund cloud efforts to resolve the debt crisis.

20 Nov 2012 - 3:51am

Millions across Europe strike to protest spending cuts

Graffiti sprayed on the front of a bank in Madrid says "murderers" in Spanish. Photo: AFP

Police and protesters clashed in Spain and Italy yesterday as millions of workers went on strike across Europe to protest spending cuts they say have made the economic crisis worse.

15 Nov 2012 - 2:57am

French President Francois Hollande defiant in face of criticism

President Hollande shares his ideas with the press. Photo: AFP

France's president just cannot seem to win.

Six months after sweeping to power on an anti-austerity wave, polls say Socialist President Francois Hollande is increasingly disliked. Leftists are disappointed he is not spending more state money to create jobs. Critics on the right say he is raising too many taxes.

15 Nov 2012 - 2:57am

Spanish banks curb evictions after evicted tenants commit suicide

A woman confronts a police officer at the entrance of an office of Catalunya Caixa Bank during a protest against the institution in Barcelona. Photo: NYT

Spain's banking association has announced it will freeze eviction orders for the next two years in cases of "extreme hardship," after a woman killed herself moments before she was due to be evicted, the second such death in less than a month.

14 Nov 2012 - 3:52am

Who said it?

Rita Fan Hsu Lai-tai

Replacing the chief executive is a very serious matter and that would definitely not be a rash happening

Rita Fan Hsu Lai-tai plays down talk Leung Chun-ying could go  

I believe more living space will be given to private businesses

Wenzhou businessman Zhou Dewen on his expectations for the 18th national congress  

13 Nov 2012 - 2:15am

Angry anti-austerity protestors greet Merkel in Lisbon

Graffiti depicting Angela Merkel as a puppet master. Photo: AFP

Furious protests greeted German Chancellor Angela Merkel as she arrived in bailed-out Portugal yesterday to defend Lisbon's sweeping austerity cuts.

Anti-austerity protesters draped Lisbon's statues in black mourning sashes and a business newspaper blamed the visiting German chancellor for "Frankenstein" policies driving Portugal into poverty.

13 Nov 2012 - 2:56am

Brothel owner in storm over gift to hard-up school

Brothel owner Soula Alevridou is at the centre of a storm after she donated money to a cash-strapped primary school. Photo: Reuters

In a country ravaged by recession, Soula Alevridou stands out, in more ways than one. Where other Greek entrepreneurs have fallen on hard times, her business is booming: so much so that she has been forced to open new premises to meet demand.

12 Nov 2012 - 3:55am

Athens explodes as Greek lawmakers ram through new austerity package

An armed protester in a cloud of tear gas in Athens' Syntagma Square during Wednesday night's violent protests. Photo: Reuters

Amid some of the most violent demonstrations in Greece in months, its Parliament approved a sweeping set of austerity measures early yesterday in a desperate bid to keep the country in the euro zone.

9 Nov 2012 - 3:27am