Euro Zone posts no growth in Q1

Note: This section contains information in English only.
Source: BBC
The Euro Zone reported zero expansion in Q1, signaling that the region managed to avoid recession.  Germany was the top-performer reporting a 0.5% expansion while Italy's economy shrank by 0.8% in Q1. Meanwhile, Greece's economy contracted by 6.2% in the period as the county implements rigid austerity measures to decrease the deficit.


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Tue, 15 May 2012 16:41:24 GMT

AUD and NZD Rose From 5-Month Low

The drop of Australian and New Zealand Dollars which started in December 2011 was caused by the spill-overs of negative sentiments and high risk aversion as the Eurozone debt crisis stayed unresolved. Since technical indicators pointed that the recent fall in South Pacific dollars was excessive, the traders have revised their valuation of these currencies up. Earlier today Australian dollar

Tue, 15 May 2012 18:09:23 GMT

Greece to call new elections as coalition failed to agree on new government

Greece will call new elections as coalition's talks aimed at forming a new government failed, Evangelos Venizelos from Socialist Pasok party   reported . The president of Greece will appoint interim government on Wednesday.  Following the news, the Euro tumbled against its US counterpart and EUR/USD traded at 1.2771, falling by 0.55%.

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