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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Italian Prime Minister Romano Prodi will submit his resignation to the president after suffering a major defeat in a Senate vote on foreign policy, Infrastructure Minister Antonio Di Pietro said on Wednesday.
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Italian Prime Minister Romano Prodi told the Senate on Thursday that if it forces him to resign with an expected no confidence vote, a "power vacuum" will leave Italy's economy vulnerable to a global slowdown.
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Italian Prime Minister Silvio Berlusconi called upon the European Central Bank on Wednesday to intervene to curb the rising price of the euro against the dollar.
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Outgoing EU Commission chief Romano Prodi laments the EU's failure to become the world's most competitive economy.
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Sluggish growth in the eurozone is holding back the global economy, according to the US Treasury Secretary John Snow. Speaking during a visit to Dublin, he said the zone was growing at &quot;below its potential
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LONDON : Europe&#39;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's new member states are falling behind in their drive towards joining the euro, the European Central Bank warned on Wednesday.
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Romano Prodi, the outgoing European Commission president, has described the EU&#39;s attempt to become the world&#39;s most competitive economy as a &quot;big failure&quot;.
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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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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 Central Bank President Jean- Claude Trichet joined European finance ministers in urging the US to halt the decline of the dollar, warning that the currency&#39;s slide risks derailing global growth.
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The global economy is likely to slow due to the impact of a big correction in the U.S. balance of payments deficit but should avoid recession, Italian Economy Minister Tommaso Padoa-Schioppa told the Financial Times.
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SIOUX CITY, Iowa  -  Democratic challenger John  Kerry said on Wednesday President Bush had failed America's  middle class as he renewed his focus on the economy less than a  week before voters go to the polls.
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BRUSSELS  - 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&#39;s national finances.
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A top European Union official Monday urged the United States to curb its deficits to help bolster the sagging dollar amid fears a strengthening euro would stifle Europe's fledgling economic recovery.
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VALLETTA/ST. JULIAN'S, Malta  - The euro zone economy could slow more than previously forecast, a policymaker said on Saturday, as other EU leaders voiced worries about the weak U.S. economy and the strong euro currency.