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BUSINESS
June 11, 2000 | JAMES FLANIGAN
The New Germany Fund, which holds stocks of small and fast-moving companies on Germany's version of the Nasdaq, has risen 37% in the last year in trading on the New York Stock Exchange. The Central European Equity Fund, which holds shares of Polish, Czech and Hungarian telecommunications companies, among others, also trades in New York and is up 17.6% in the last year.
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WORLD
December 10, 2011 | By Henry Chu, Los Angeles Times
By agreeing to knit their nations closer together on fiscal and economic policy, Europe's leaders are writing a potentially momentous new chapter in the continent's drive toward political integration. But at the end of a two-day summit in Brussels on Friday, it was unclear whether the enforced austerity demanded by France and Germany would help revive Europe's weakest economies, or condemn them to a cycle of deepening recession. And the chorus of oui , ja and si at the summit was punctuated by a resounding "no" from Britain, laying bare the widening rift between one of the region's biggest players and its neighbors on the European mainland.
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BUSINESS
August 4, 1993 | JAMES F. PELTZ, TIMES STAFF WRITER
Europe this summer is no vacation spot for U.S. companies. American firms with major exports to Europe--or with operations based there--already were grappling with a three-year-old European recession. Now comes a currency crisis, making it even harder for U.S. executives to map plans for boosting European sales. What happens now? The European Community's decision last weekend to effectively abandon currency controls means interest rates could drop in several nations.
BUSINESS
November 22, 2011 | By Don Lee, Los Angeles Times
With the European debt crisis lapping up against France and threatening to crumple the continent's currency system, German Chancellor Angela Merkel finds herself increasingly standing alone at the center of the intensifying drama that begs for more help from Germany. But she hasn't budged — yet. Under intense domestic pressure, Merkel has continued to use the power of Europe's strongest economy to insist that her beleaguered partners accept a new financial order and, indirectly, a new political reality.
NEWS
September 21, 2000 | CAROL J. WILLIAMS, TIMES STAFF WRITER
As international concern grows over the collapsing euro and soaring price of crude oil, the two events together threaten damage to Europe's economic health that could far outlast the effects of the recent blockades by angry truckers and farmers. The 11 European Union countries using the euro common currency are already reeling from a domineering dollar and rosy U.S. economic growth forecasts that are luring investors to the other side of the Atlantic.
BUSINESS
June 8, 2001 | From Times Staff, Bloomberg News
The European Central Bank left its benchmark short-term interest rate at 4.5% Thursday, even as reports suggest Europe's economy is sputtering. The ECB, which cut the key rate a quarter-point in May, is in a bind, experts say: Despite dimming growth, European inflation is rising. Cutting rates further in this environment could hurt the already weak euro currency. The euro inched up Thursday to 85.1 U.S. cents in New York. It was worth 94 cents in January.
BUSINESS
July 19, 1998 | JOHN-THOR DAHLBURG, TIMES STAFF WRITER
Europe. A continent stuck in the past, a sort of theme park for tourists with well-preserved castles and quaint customs, right? As for the economy, it must be about as exciting and dynamic as Poli-Grip. Flat wrong--that was then, and this is now. In mid-1998, as much of once-hot Asia has gone stone cold, Europe's economy is plugging along again nicely and may be on a roll. Indeed, California's exports to Europe are surging, helping to offset slumping sales to Asia.
NEWS
May 8, 2000 | JOHN-THOR DAHLBURG, TIMES STAFF WRITER
The euro's collapse has made the green in their pockets worth more here than at any time since the mid-1980s, and the Americans are coming, in greater numbers than ever. Bostonian Kelly Moore, 18, jetted into Rome this week from Britain, where Europe's fledgling common currency isn't legal tender, with two bargain-hungry friends.
NEWS
August 2, 1993 | TOM PETRUNO, TIMES STAFF WRITER
Here are answers to some key questions about the disarray in Europe's currency markets: Question: What does the crisis mean for the U.S. economy? Answer: U.S. firms should benefit if the crisis leads, as expected, to lower interest rates in Europe. This would spur Europe's economy and raise demand for U.S. goods. Also, the expected additional devaluation of key European currencies will mean that Americans traveling on the Continent can buy more with their dollars.
NEWS
November 5, 1999 | JOHN-THOR DAHLBURG, TIMES STAFF WRITER
The Old World's economy, hovering near recession only months ago, is on the move again. Industries are producing, consumers are buying and the outlook is brightening as the new century nears. After stalling earlier this year, economic growth in the European Union countries is accelerating so fast that it has surprised many analysts. Some believe the area's economy, the largest of any trading bloc in the world, will expand by more than 2% this year and 3.5% in 2000.
WORLD
October 7, 2011 | By Henry Chu, Los Angeles Times
For a man accused of holding an entire continent hostage, Richard Sulik cuts a modest figure. With his shiny pate and geeky glasses, he looks more like a mild-mannered economist than a rough-and-tumble politician. In fact, he's both. But it's as leader of the Freedom and Solidarity party in oft-overlooked Slovakia that Sulik finds himself in the unfamiliar glare of the international spotlight. He has the power, some say, to save Europe's economy or push it over the precipice, with serious consequences for the rest of the world.
BUSINESS
January 15, 2011 | By David Pierson and Henry Chu, Los Angeles Times
Growing into its role as a global economic power, China is pledging to buy billions of dollars' worth of bonds in European governments to help restore confidence in the debt-ridden region. The move is the latest evidence that the giant Asian nation is developing ties with strategically important trading partners and expanding its influence in areas where it has long played a minor role. In what European media have dubbed a charm offensive, Chinese Vice Premier Li Keqiang was all smiles on a recent swing through the continent, assuring the Germans that their economy was complementary to China's and praising the Spanish as good friends.
BUSINESS
May 28, 2010 | By Walter Hamilton and Nathaniel Popper, Los Angeles Times
Reporting from Los Angeles and New York — Is the "correction" over? That question was on the minds of hopeful investors Thursday as global stock markets staged powerful rallies on an easing of worries about the European debt crisis. The Dow Jones industrial average shot up 284 points, one day after closing below 10,000 for the first time since February. The markets surged after the agency that manages China's vast foreign-exchange reserves denied reports that it planned to lighten its holdings of European debt, including government bonds.
BUSINESS
October 18, 2004 | From Bloomberg News
European Central Bank President Jean-Claude Trichet, using words rather than policy, helped bring the euro down from a record in his first year in office, shoring up an economic recovery reliant on exports. Trichet, 61, is powerless over the biggest threat to growth as he enters his second year in the job: oil. The 68% surge in crude oil prices since January means "uncertainties are augmenting" for the economic outlook, Trichet said in an interview in Berlin on Friday.
NEWS
March 17, 2002 | SEBASTIAN ROTELLA, TIMES STAFF WRITER
European Union leaders agreed here Saturday to reforms designed to make their economies more competitive, though resistance from France produced a proposal to open the alliance's energy markets by 2004 only in the commercial sector. Conducted within a security cordon of about 15,000 police, the Barcelona economic summit was the first in a year that has seen the introduction of a single European currency, the euro, and the assumption of the EU's rotating presidency by the Spanish government.
BUSINESS
December 7, 2001
The European Central Bank on Thursday kept its benchmark short-term interest rate at 3.25%, opting against another rate cut at its final meeting of 2001. But many analysts believe the ECB will continue to ease credit in 2002. The Bank of England also left its key rate unchanged at 4%.
BUSINESS
April 9, 1999 | CHRIS KRAUL, TIMES STAFF WRITER
In an aggressive move designed to provide an economic fillip to a beleaguered region, the fledgling European Central Bank lowered interest rates Thursday by half a point to 2.5%. The first major policy dictate of the bank's short life reflects growing concern over a broad slowdown in economic activity across Europe. The intention is to increase investment and spur growth.
NEWS
March 17, 2002 | SEBASTIAN ROTELLA, TIMES STAFF WRITER
European Union leaders agreed here Saturday to reforms designed to make their economies more competitive, though resistance from France produced a proposal to open the alliance's energy markets by 2004 only in the commercial sector. Conducted within a security cordon of about 15,000 police, the Barcelona economic summit was the first in a year that has seen the introduction of a single European currency, the euro, and the assumption of the EU's rotating presidency by the Spanish government.
BUSINESS
November 9, 2001 | Reuters
Europe's key central banks slashed interest rates Thursday, following in the footsteps of the Federal Reserve in a campaign to reverse the world's worst economic slowdown in a decade. The European Central Bank and the Bank of England cut their main short-term rates by a half percentage point to 3.25% and 4%, respectively, matching the scale of the Fed's move Tuesday. Denmark's Nationalbanken followed suit with a half-point cut.
BUSINESS
November 6, 2001 | NICK ANTONOVICS, REUTERS
European Central Bank President Wim Duisenberg gave a clear signal Monday that the bank is poised to cut interest rates after data showed euro-zone inflation eased in October. Duisenberg's comments after a meeting with euro zone finance ministers are likely to fuel expectations that the ECB will cut its benchmark short-term rate, now 3.75%, at its meeting Thursday. The U.S. Federal Reserve is expected to cut its key rate today, which would be the 10th reduction this year.
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