Euro

Greek yields decline to historic lows

Greek sovereign bond yields posted a rapid decline on Wednesday despite the mild trend observed on other eurozone markets, a day after the strong rally on statements by European Central Bank chief Mario Draghi. This illustrates that investor sentiment toward Greek assets has changed, as they attract an increasing number of foreign portfolios.

Unemployment in Greece still far higher than EU average

Greece remains far from the mean unemployment rates of the European Union and the eurozone, as according to Eurostat figures it had a jobless rate of 18.5 percent in February - down from 18.6 percent in January - against 6.4 percent in the EU and 7.6 percent in the eurozone.

Spain is a distant second with 13.8 percent unemployment.

The Euro Area with a Sharp Decline in Inflation and the Lowest Unemployment Rate Since 2008

Unemployment has been the lowest since 2008, writes NOVA news.
Inflation in the eurozone dropped sharply to 1.2% in May, according to data released by AFP. Analysts surveyed by the Factset data company predicted a modest fall in inflation to 1.4%, down from 1.7% in April.

Central bank governor Isarescu: National Bank has balanced approach to euro adoption

The National Bank of Romania (BNR) has a balanced approach to the adoption of the euro, BNR governor Mugur Isarescu said on Tuesday, mentioning that this requires a high real convergence, as well as keeping the pace after Romania joins the eurozone.

Croatia Wants to Replace Its Currency, the Kuna, with Euro

Croatian Finance Minister Zdravko Marić and Central Bank Governor Boris Vujčić urged Croatia to join the European Central Bank's Unified Supervision Mechanism, which is the first step towards joining the eurozone. According to media in Zagreb, the procedure for replacing the Croatian kuna with the euro could happen after five years, Nova TV reported.

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