The European Comission has indicated that a number of European countries are failing on employment targets and reforms set out in 2000.

The so-called “Lisbon Agenda” seeks to create economic reform to aid employment and economic growth. However, only a handful of countries have already implemented the initial recommendations. Other countries have begun the process, but in a manner labelled as “too slow” by the EC.

The aims were to create an aggressive economy for 2010, and additional recommendations will be made next week. However, commentators feel that the entire Lisbon Agenda may be quietly shelved in the face of poor development of agreed targets and policies.

Tags: European Economy News, European Union News by Brian Turner
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The London Stock Exchange (LSE) has rejected a second bid by German company Deutsche Boerse.

Despite offering 530p on the share, the LSE declared that the offer had failed to realise the “inherent value” of the LSE.

Talks continue with Euronext, who have yet to make any formal declaration on the move.

There is an expectation on markets that the LSE will try and hold out to £6 on the share, unless significant saving offers are introduced to provide alternative investor benefits.

Tags: European Stocks & Shares News, European Economy News by Brian Turner
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The Financial Times reported today that the euro was becoming the choice of currency in the face of a weak dollar.

Despite earlier rallies, the value of the dollar continues to fall, and there are concerns at central banks that converting USD back to local currencies will incur real losses.

Added to that, the euro as a currency has moved from strngth to strength, so any moves towards further euro speculation are a continuation of practice, rather than a sudden new move. Many banks for nations built on oil exports have been moving away from the devalued US dollar for the past three years.

The general rise in the strnegth of the euro should not be seen as nothing but an indicator of lack of faith in the USD, but instead as a growing vote of confidence in a currency used by 12 European nations.

Tags: European Stocks & Shares News, European Economy News by Brian Turner
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The European Central Bank retained interest rates of 2% for the nineteenth month in a row. With the euro still climbing in value against the USD, any rises were entirely out of the question. Despite fluctuating oil prices, general inflation aims remain on target.

Tags: Interest Rates News by Brian Turner
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Euronext has come away from talks with the London Stock Exchange (LSE), but offered no comment on any agreement or outcome.

Euronext is believed to be readying a £1.4 billion bid for the LSE, and is in competition with rival company Deutsche Boerse, who may yet offer a £1.5 billion offer to share holders.

However, there is growing disquiet in Germany over Deutsche Boerse’s suggestion that it could move its headquarters to London. This could lead to hundreds of job losses in Frankfurt, and all at a time when the German economy is still recovering from recession.

Deutsche Boerse’s current ownership of Clearstream, a clearing house that processes securities transactions, is still seen as an objection to any bid for the LSE due to fears of monopolisation of services and reduced competitiveness for investors.

Tags: European Economy News by Brian Turner
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Gemerany company Deutsche Boerse is believed to be increasing its bid for the London Stock Exchange (LSE), with a possible bid of £1.5bn ($2.88bn) for LSE share-holders.

Speculation is rife that if Deutsche Boerse’s new offer is rejected, then the company may attempt a hostile takeover before rival firm Euronext completes negotiations.

Tags: European Stocks & Shares News by Brian Turner
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