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File photograph of a worker controlling a blast furnace at Europe’s largest steel factory in the western German city of Duisburg. Germany’s economy crept back into growth in the first quarter of the year after a sharp contraction at the end of 2012. Photograph: Ina Fassbender/Reuters. Germany posts meagre first quarter GDP growth

Economy grows by 0.1% as limp investment and construction activity drag

European Commissioner for Internal Market and Services Michel Barnier: “We need more responsible companies.” Photograph: John Thys/AFP/Getty Images EU moves to crack down on tax avoidance

Disclosure rules to be extended to corporations on country-by-country basis

Ajai Chopra: said the euro zone’s bailout fund should not be used to deal with “legacy” banking debts. Photograph: Dave Meehan Banking union is essential, says IMF official

Ajai Chopra sets out the case for ambitious deepening of the euro zone

Taoiseach Enda Kenny and Greek prime minister Antonis Samaras at a news briefing in Athens today. Photograph: Yorgos Karahalis/Reuters Samaras says Ireland is model for Greek recovery

Prime minister says improving competitiveness and low tax rates would help Athens

New figures showing the UK economy grew by 0.3 per cent in the first quarter will add weight to chancellor George Osborne’s claim that the economy is healing. Photograph: Carl Court/PA Wire. Strong services sector helps UK economy return to growth

Economists remain cautious despite 0.3% GDP expanison in first quarter

European commissioner in charge of business and financial regulation Michel Barnier. Photograph: Laurent Dubrule/Reuters. Big companies should reveal national tax bills - Barnier

EU regulatory official says same rules should apply to firms as banks

A worker removes a Caja Madrid signage to replace it with Bankia logos at a Bankia branch in Madrid this week. Photograph: Paul Hanna/Reuters European Commission to revamp bank bailout rules

Shareholders and junior bondholders will bear losses before shareholders

The ECB is concerned that banks are not lending to smaller businesses in the euro zone periphery. Photograph: Bloomberg ECB ‘can only do so much to help SMEs’

ECB policymaker Benoit Coeur says bank is exploring options, but must act within mandate

Martin Weale, a member of the Bank of England’s nine-strong Monetary Policy Committee, said policymakers should tread carefully over flexibility in newly reworded mandate to help growth. Photo credit should read: Yui Mok/PA Wire BoE ‘must tread carefully’ with inflation approach

Policymakers should not be “inflation nutters” but should avoid doubt over commitment to targets

France fell back into recession in the first quarter of the year, experiencing a 0.2 per cent contraction in GDP in the first three months of the year , in line with the previous quarter. Euro zone in sixth quarter of decline

GDP fell by 0.2%

The European Commission plans to send a formal warning to China that it is ready to levy sanctions against telecoms equipment makers Huawei and ZTE over illegal subsidies, people close to the matter said. EU ‘ready for telecoms dispute’ with China

Commission plans to send formal warning over subsidies to telecoms firms Huawei, ZTE

Portugal GDP slump slows in first quarter

Bailed-out country enters third year of recession, but optimism for recovery is high

Germany crept back into growth in the first quarter of the year, with the economy increasing by 0.1 per cent, but France slid into recession. Euro zone contracts for sixth quarter

Germany ekes out growth but France slips into recession

Bank of England governor Mervyn King at the publication of the bank’s quarterly inflation report. Photograph: Simon Dawson/Bloomberg Bank of England offers hope for UK economy

Outlook on inflation improves and BoE projects stronger growth for first time since crisis

European Commission president Jose Manuel Barroso will meet president Francois Hollande in Brussels today. Photograph: Francois Lenoir France must present credible reform plan says Barroso

New data shows economy slipping into shallow recession

Minister for Finance Michael Noonan rings the bell prior to an economic and financial affairs meeting yesterday, at the EU headquarters in Brussels. Noonan defends 12.5% corporate tax rate

Setting tax rates is a matter for sovereign countries, Minister says in Brussels

British chancellor George Osborne: likely to argue that countries should be given discretion on how to apply the bail-in rules. Photograph: PA Securing consensus on bank resolution will be uphill battle for EU ministers

In a packed agenda, the big challenge at today’s meeting will be political discussion on bank resolution and recovery

Tánaiste Eamon Gilmore and Minister for European Affairs Lucinda Creighton yesterday held the first formal negotiations with the European Parliament on the seven-year Multiannual Financial Framework in Brussels. Photograph: Dara Mac Dónaill EU ministers meet to revise budget accord

Britain, Denmark and the Netherlands resist budget disbursement increase

[From left] German finance minister Wolfgang Schäuble, British chancellor George Osborne, IMF managing director Christine Lagarde and Canada’s finance minister Jim Flaherty at the Global Investment Conference 2013 in London. Photograph: Stefan Rousseau/Reuters Schäuble signals support for easing of austerity as G7 ministers meet
  • Europe
  • Bloomberg
  • May 10, 2013, 11:08

German finance minister says there’s ‘room for manoeuvre’

A man checks a document outside an employment office in Athens Nearly two-thirds of Greek youths are unemployed

Repeated austerity under international bailouts has almost tripled Greece’s jobless

Slovenian prime minister Alenka Bratusek: said the stability package would be enough to prevent the tiny Alpine country following Cyprus in the euro zone queue for a bailout. Photograph: Matej Leskovsek/International Herald Tribune Slovenia says it will sell 15 firms and raise VAT in effort to avert bailout

Government to sell second largest bank, telecoms operator and national airline

Latest Economy

(Left to right) Irish Times editor Kevin O’Sullivan, Irish Times business editor John McManus and KPMG managing partner Shaun Murphy at the publication of the Irish Times Top 1,000 companies magazine in Dublin today. Photograph: Cyril Byrne. CRH leads ‘Irish Times Top 1,000’ survey
Minister for Jobs, Enterprise and Innovation, Richard Bruton has welcomed the announcement of 100 new jobs by three Enterprise Ireland backed firms. Photograph: Dara Mac Donaill/The Irish Times. Three State-supported firms to hire 100 staff
File photograph of a worker controlling a blast furnace at Europe’s largest steel factory in the western German city of Duisburg. Germany’s economy crept back into growth in the first quarter of the year after a sharp contraction at the end of 2012. Photograph: Ina Fassbender/Reuters. Germany posts meagre first quarter GDP growth
European Commissioner for Internal Market and Services Michel Barnier: “We need more responsible companies.” Photograph: John Thys/AFP/Getty Images EU moves to crack down on tax avoidance
Bank of Japan Governor Haruhiko Kuroda speaks at the International Conference on the Future of Asia in Tokyo today. Photograph: Toru Hanai/Reuters. Kuroda sets out plans to guide Japan to recovery
Time to get into Africa?