WSJ.com: What's News Europe

Europe Weighs Rescue Plan for Greece

Tue, 09 Feb 2010 22:45:31 EST

Germany is considering a plan with its European Union partners to offer Greece and other troubled euro zone members loan guarantees in an effort to calm market fears of a default.

Greece Grapples With Tax Evasion

Tue, 09 Feb 2010 20:50:11 EST

Athens's attempts to clamp down on tax evasion, which costs Greece an estimated €15 billion a year, have proven to be a more-challenging task than officials thought.

Greek, Portugal CDS Spreads Tighten

Tue, 09 Feb 2010 20:52:49 EST

The cost of insuring the sovereign debt of Greece, Portugal, and Spain against default fell sharply after Portugal announced plans for a 10-year, syndicated bond issue.

Berlin's Wall Around Greek Ruins?

Tue, 09 Feb 2010 20:28:56 EST

If the European Union is willing to bow to markets and create a guarantee program, it could find it tougher to enforce fiscal discipline on Greece and other high-deficit countries.

Greece Unveils Austerity Measures

Tue, 09 Feb 2010 18:56:50 EST

Greece, facing pressure from both financial markets and union protests, announced measures to cap public-sector salaries and reform the country's tax code in a bid to fix its finances.

Stiglitz: Markets "Hyperventilating"

Tue, 09 Feb 2010 20:59:40 EST

Nobel Laureate Joseph Stiglitz brushed aside the debt market pressures facing Greece, saying they reflected irrational investors "hyperventilating" over a country whose fiscal situation is in hand.

IMF Hails German Budget Restraint

Tue, 09 Feb 2010 13:27:58 EST

The IMF welcomed Germany's commitment to cut its budget deficit to 3% of GDP by 2013, but it urged officials to move quickly on devising a package of budget cuts to meet that goal.

European Airlines Seek Loan Access

Tue, 09 Feb 2010 20:43:52 EST

Air France, British Airways, Lufthansa and other European airlines are lobbying to shake up how airplane sales are financed so they can get access to government export guarantees that most other airlines around the world now use.

Bank of Spain Greets Deficit Measures

Tue, 09 Feb 2010 19:18:19 EST

The chief economist for Spain's central bank said proposals announced by the government to curb its budget deficit were a shift in the right direction.

Showdown at Infineon Tests German Governance

Tue, 09 Feb 2010 14:59:31 EST

A group of shareholders are challenging the nomination of Klaus Wucherer, a longtime supervisory board member at Infineon Technlogies, to become chairman of the supervisory board.

Tymoshenko to Contest Ukraine Vote

Tue, 09 Feb 2010 12:44:10 EST

Supporters of losing candidate Yulia Tymoshenko said they were preparing legal challenges to returns from Ukraine's presidential election, as her rival's party maneuvered to have parliament oust her as prime minister.

EU Approves New Commission

Tue, 09 Feb 2010 13:41:19 EST

The European Parliament voted a new European Commission into office into office amid a spreading crisis of confidence in the ability of some euro-zone nations to curtail their runaway deficits and debt.

FSA Chief Sants to Step Down

Tue, 09 Feb 2010 23:35:00 EST

Hector Sants submitted his resignation as chief executive of the Financial Services Authority, the U.K. financial regulator that he led through the credit crisis but which faces an uncertain political future.

GM Details Plans in Europe

Tue, 09 Feb 2010 19:42:26 EST

General Motors laid out a rescue plan for its Opel unit, including fresh cost cuts and efforts to increase vehicle sales and market share.

UBS Swings Back to Profit

Tue, 09 Feb 2010 19:22:51 EST

UBS reported its first quarterly profit in more than a year, but its private-banking business continued to hemorrhage wealthy clients spooked by assaults on Swiss bank secrecy.

FDA Move May Bolster Crestor

Tue, 09 Feb 2010 08:27:39 EST

The U.S. Food and Drug Administration's approval of AstraZeneca's cholesterol drug Crestor for a new group of patients could open a large new market for the drug.

Good Times Ahead for Unibail

Tue, 09 Feb 2010 19:32:22 EST

Despite a profit warning by CEO Guillaume Poitrinal, Paris-based property company Unibail-Rodamco is poised for better times.

U.K. Trade Deficit Widens

Tue, 09 Feb 2010 07:05:59 EST

The U.K. trade deficit widened in December as a solid rise in exports was outstripped by a stronger increase in imports.

Swedbank Posts Loss on Higher Charges

Tue, 09 Feb 2010 03:18:04 EST

Swedbank posted its fourth quarterly loss in a row on continuing losses in Russia, Ukraine and the Baltics but said it could make a full-year profit in 2010.

Fiat to Invest in Mexican Factory

Mon, 08 Feb 2010 21:34:52 EST

Fiat will invest $550 million in Chrysler's plant in Mexico to produce the retro Italian 500 passenger car for export.

U.K. Same-Store Retail Sales Fall

Tue, 09 Feb 2010 05:26:07 EST

U.K. retail sales weakened in January as the country was hit by heavy snow falls, but house prices rose despite the poor weather.

Gazprom Touts Growth Prospects

Mon, 08 Feb 2010 19:18:24 EST

Gazprom is seeking to reassure investors of its growth prospects, amid questions about a looming supply glut that could depress European demand for Russian natural gas.

Stocks Rise as Germany Mulls Greece Aid

Tue, 09 Feb 2010 13:57:10 EST

European stock markets ended a choppy session modestly higher in anticipation that a rescue for Greece was in sight.

NYSE Euronext Sees Hope From Regulators

Tue, 09 Feb 2010 20:07:16 EST

The stock-exchange operator swung to a profit as its chief executive said regulatory moves could limit the competitive heat it faces.

Europe Weighs Rescue Plan for Greece

Tue, 09 Feb 2010 22:45:31 EST

Germany is considering a plan with its European Union partners to offer Greece and other troubled euro zone members loan guarantees in an effort to calm market fears of a default.

Greece Unveils Austerity Measures

Tue, 09 Feb 2010 18:56:50 EST

Greece, facing pressure from both financial markets and union protests, announced measures to cap public-sector salaries and reform the country's tax code in a bid to fix its finances.

Greek, Portugal CDS Spreads Tighten

Tue, 09 Feb 2010 20:52:49 EST

The cost of insuring the sovereign debt of Greece, Portugal, and Spain against default fell sharply after Portugal announced plans for a 10-year, syndicated bond issue.

Bank of Spain Greets Deficit Measures

Tue, 09 Feb 2010 19:18:19 EST

The chief economist for Spain's central bank said proposals announced by the government to curb its budget deficit were a shift in the right direction.

Bank Woes May Force ECB's Hand

Tue, 09 Feb 2010 14:19:45 EST

Greek banks' funding woes may force the hand of the ECB, which was hoping to wean European banks off its liquidity drip.

Bond Sale Sets U.K. Apart From Greece

Tue, 09 Feb 2010 15:40:14 EST

Could Britain fall victim to the same financing fears that have hit Greece? The successful sale of U.K. government bonds highlights how different the two countries are.

Portugal Nears 10-Year Bond Sale

Tue, 09 Feb 2010 20:31:08 EST

The Portuguese government is preparing to sell a 10-year, euro-denominated, benchmark bond . The sale is sure to test investor will.