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Thursday, February 7, 2013

From the Heart of Europe | 07.02.2013, 15:00 UTC

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Business
Finance
ECB financing rate on hold despite business pressures
The European Central Bank has said its keeping its benchmark financing rate on hold at a record-low 0.75 percent. The ECB has refused to enact any changes despite pressures created by the rise of the euro.
Economy
German wages outpace inflation
Last year, Germans enjoyed higher incomes as wages grew steeper than prices in Europe's biggest economy. Although the rise was less significant than in previous years, it was the third consecutive increase in real wages.
Business News
Daimler group profits up in "mixed" 2012
German automaker Daimler posted record sales and revenues in all of its units in 2012. However, despite selling more busses, trucks and cars, growth in group profit was primarily achieved through an asset sale.
Exchange Rates
Currency war follows financial crisis
Brazil's finance minister first spoke of a currency war in 2011. Now the battle lines are hardening as Japan opens a new round in the race to see which country can weaken its currency fastest.
World
Politics
Montenegro's peculiar path to EU membership
Montenegro is not a eurozone member; not even a member of the EU. But for years this small Balkan country has been using the euro as its currency. In an odd twist, it may now have to give it up in order to join the EU.
Politics
Cameron's Conservatives cave in to the 'zeitgeist'
The passing of the same-sex marriage bill earlier this week was hailed by its supporters as a revolutionary moment, but Cameron risked rebellion in his own party to pass the bill. So can he heal the rifts in his party?
Migration
Brazilians heading home from Portugal
The European financial crisis is reversing old migration paths. Many Brazilians are now moving out of Portugal and back to their home country.
Sustainability
EU Parliament backs fishing practices reform
Large parts of the world's waters are overfished and the EU Parliament wants to change that with new quotas for specific types of fish. On Wednesday (06.02.2013), it voted to curb overfishing.
Budget
EU deeply divided ahead of summit
EU leaders hold another summit Thursday to try once more to agree on their long-term financing, but unity is far away. Even if they agree, they're unlikely to convince the European Parliament.
News
Culture
Restoration of Roman city of Pompeii begins
An EU-funded project to restore the ancient Roman ruins of Pompeii in southern Italy has begun. The EU also intends to protect conservation funds from the mafia.

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