German court clears way for ESM Fund

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Source: Bloomberg
German Federal Constitutional Court cleared the way for Eurozone rescue fund on Wednesday. The European Stability Mechanism of total value of the 500 billion euro aimed to provide financial assistance to Eurozone's countries in financial difficulty.  Moreover, German Court gave parliament veto powers over any future increases in the size of the fund.
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Wed, 12 Sep 2012 13:54:48 GMT

U.K. unemployment benefit claims fell in August

The number of filed unemployment benefit claims in the U.K. declined the most in more than two years in August, as the economy created more jobs in order to curb the recession.  Jobless benefit claims fell 15,000 to 1.57 million, the Office for National Statistics reported on Wednesday. Employment rose by 236,000 to overall 29.6 million, posting the biggest gain in two years.

Wed, 12 Sep 2012 13:32:47 GMT

European stocks increase after German court approved ESM

The major European stocks index Stoxx Europe 50 gained 0.98% to 2,582.84 on early London trading session. Index gained a second day after the top German court approved country's participation in Eurozone's bailout fund with certain conditions. This decision increased confidence in the market that governments will not let economies get worse.

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