EU bid to catch US economy 'a big failure': Prodi
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Europe's efforts to catch up to and then outpace the US economy have been &quot;a big failure,&quot; the outgoing head of the European Union executive commission, Romano Prodi, told the Financial Times in an interview.
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The European Union told Italy, France and Germany &#151; the three biggest economies in the euro area &#151; Wednesday to do more to bring their budgets in balance as required by the rules of Europe's single currency.
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The crisis in the US housing market risks spreading to the whole of the nation&#39;s economy, European Central Bank chief Jean-Claude Trichet said Monday on behalf of world central bankers.
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US economic competitiveness fell significantly over the last year, as high budget and trade deficits hurt America's business environment, according to a survey by the World Economic Forum.
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On the home front and around the world, President Bush has failed the United States. His economic record is one of record deficits, loss of jobs, creation of low-wage jobs.
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German Chancellor Gerhard Schroeder on Saturday labeled the US dollar&#39;s weakness against the euro &quot;worrying,&quot; but increasingly worried European leaders appeared unlikely to get help from the United States and Asia at a meeting of industrial and developing
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European Union finance ministers pressed for action by the United States to prop up the dollar as eurozone nations expressed their deep disquiet at the parlous state of America's national finances.
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US Treasury Secretary John Snow began a European tour aiming to highlight the need for stronger economic growth in Europe and elsewhere as Washington tries to blunt criticism over massive US deficits that have pushed the dollar to new lows.
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Democratic presidential candidate John Kerry on Tuesday accused the Bush administration of failing to protect American jobs from unfair foreign competition after the World
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Italian Prime Minister Romano Prodi went into crisis talks over the future of his government Wednesday after it failed to secure a parliamentary vote of support for its foreign policy.
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Prime Minister Romano Prodi made a final plea for Italy's parliament to back his government on Thursday in a confidence vote he looked set to lose, saying the economy could not bear more political uncertainty.
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US President George W. Bush warned Tuesday that "it's going to take a while to work through the downturn" in the crisis-hit US housing market, but said the US economy was resilient.
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Italian Prime Minister Romano Prodi said Thursday that his government had benefited from the recent crisis.Comment
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"Growth is robust and the economy is strong, therefore we can deal with it"  The head of the Euro Group of finance ministers said Friday that the European Union's banking system is strong enough to ride out the global liquidity crisis sparked by the collapse of the U.S. subprime mortgage market.Speaking before a meeting of euro-zone finance ministers, Luxembourg Prime Minister Jean-Claude Juncker said the subprime crisis should have only a modest impact on the EU economy.'I do think the European banking system is robust enough to resist' the liquidity squeeze, he said. 'The impact will not be a huge one.' Read more
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The European Union needs to take action if it is to meet its goal of outpacing the US economy by 2010, a report says. The document leaked to the Reuters news agency and due out later on Wednesday says that
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"If Europe wants to play an important role in the contemporary world, decisions should be taken fast to enable it to play that role"  Decisions should be taken fast to enable Europe to play an important role in the world, Italian Prime Minister Romano Prodi said during his one-day working visit to Poland on Wednesday. via People's Daily Online
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French President Jacques Chirac said Friday he was concerned about the weakness of the US dollar and hinted that the European Union should react to the situation.