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Final Countdown to the euro in Cyprus and Malta

added: 21-12-2007

In only 10 days Cyprus and Malta will adopt the euro, bringing to 15 the number of European Union countries that share the same currency. The final practical preparations are well under way and banks, retailers and consumers seem to be ready for the changeover. Banks and enterprises have been receiving supplies of euro banknotes and coins to be able to handle transactions in euro as from 1 January. Euro coin mini-kits have also been available for citizens since early December, to help them familiarise themselves with their new currency before €-day.

Euro Area Balance of Payments in October 2007

added: 21-12-2007

The working day and seasonally adjusted current account of the euro area recorded a surplus of EUR 1.3 billion in October 2007, since surpluses in goods, services and income offset a deficit in current transfers. Combined direct and portfolio investment recorded net outflows of EUR 33 billion, as net outflows in portfolio investment exceeded net inflows in direct investment. The latter developments were influenced by a large take-over involving both euro area and non-euro area financial institutions.

EU Real Agricultural Income Per Worker Up by 4.7%

added: 20-12-2007

EU27 real agricultural income per worker has risen by 4.7% in 2007, after increasing by 3.9% in 2006. This increase results from a growth in real agricultural income (+2.6%), together with a reduction in agricultural labour input (-1.9%).

Consumers in the Mood to Spend at the End of the Year

added: 20-12-2007

The consumer climate has stabilized. This is primarily the result of a marked increase in consumer propensity to buy in December. Conversely, economic and income expectations saw another slight decrease. After a revised 4.4 points in December, the GfK consumer climate forecasts a value of 4.5 points for January 2008.

MEPs and MPs Debate Culture's Contribution to Jobs and Growth

added: 20-12-2007

The need to harness education and culture to the EU's jobs and growth strategy, even though treating culture as an economic engine might distort its very nature, was debated in depth by MEPs and MPs at a joint committee meeting on education and culture in the European Parliament on 18 and 19 December.

Trichet on Interest Rates, Inflation and Financial Turbulence

added: 20-12-2007

Jean-Claude Trichet told the Economics Committee on Wednesday that the "hump" in inflation would be longer than previously projected and risks were on the upside. Growth for the eurozone should be at around potential in the year ahead, but risks to that projection were on the downside. The continuing turbulence in financial markets also featured strongly in the final "monetary dialogue" with the European Central Bank President of 2007.

European Auto Industry Insists on Need for Balanced and Constructive CO2 Legislation

added: 20-12-2007

The European Commission’s legislative proposal on reducing CO2 emissions from cars does not offer the proclaimed balanced framework to cut CO2 emissions and to safeguard EU competitiveness and growth.

The Leading Index for Germany Increased 0.6 Percent

added: 20-12-2007

The Conference Board announced that the leading index for Germany increased 0.6 percent and the coincident index decreased 0.2 percent in October.

Sustainable Economics with Clean and Energy Efficient Vehicles

added: 20-12-2007

The Commission's revised proposal for a Directive on the promotion of clean and energy efficient road transport vehicles introduces sustainable economics into public procurement of vehicles and transport services. Public authorities will use criteria for lifetime costs for energy consumption, CO2 emissions and pollutant emissions when they procure vehicles. A harmonised methodology will be applied to quantify these costs.

Online Christmas Shopping Activity Hits Highest Point of the Season to Date in the U.K., France and Germany

added: 20-12-2007

comScore, Inc. released its third study of the online shopping activity of U.K., French and German consumers this Christmas season. This study tracks the number of visits to online retail sites each week since the start of the season on October 29, as well as the fastest growing online retail properties in November, using data collected from the comScore World Metrix audience measurement service.

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