Eurozone Crisis

Strong growth in Germany, bolstered by gains in France and Spain, helped secure better-than-expected economic results on Friday that saw the eurozone outstrip US recovery figures. But some analysts warn that the global recovery could be peaking.

PARIS — What a difference a few weeks make. In early June, doomsayers were predicting the demise of the euro after a 110-billion euro ($145.2 billion) bailout for Greece and a $1-trillion financial safety net for the rest of the 16-nation single currency area failed to calm market panic.

IF anyone needed any more indication that things have not quite gone back to normal in Europe—where some experts warn that any success in blocking new stimulus programs and tougher banking regulations could lead to a double-dip recession, or even a full-blown depression—the best place to look for confirmation is the migrant- worker sector.

SINGAPORE: The International Monetary Fund (IMF) warned Asia on Wednesday of potential spillovers from the European debt crisis, which is unfolding a decade after the region underwent its own financial turmoil.

MANILA, Philippines – Standard & Poor’s (S&P) said the Philippines is less vulnerable to shifts in external sentiment brought about by the debt crisis in Europe on the back of its strong external liquidity supported by robust overseas Filipino workers’ remittances and international reserves of the Bangko Sentral ng Pilipinas (BSP).

WEAK US jobs data and fresh fears that Europe’s debt crisis is spreading across the continent pulled down the peso and Philippine share prices on Monday. At the Philippine Dealing System, the peso shed more than 50 centavos to close at 46.835 to the US dollar from last Friday’s 46.30 finish.

THE National Economic and Development Authority (NEDA) warned that the debt crisis in Europe could dampen remittances, as fresh data showed the global financial turmoil has crimped money sent home by Filipinos working in the eurozone.

MANILA, Philippines – Europe’s debt crisis would not pose a large risk to emerging markets in Asia, including the Philippines, that have broadened beyond export-led growth and towards domestic demand, economists from leading investment banks said.

MANILA, Philippines – Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. said yesterday the impact of the European debt crisis on the Philippines would be nil to minimal if the troubles are confined to Greece and do not spread to other parts of Europe and the world.