Olli Rehn, Vice President of the European Commission and Commissioner for Economic and Monetary Affairs and the Euro, made a stop-over at the German House to brief representatives of New York's U.N., diplomatic and consular community on latest developments with regard to Europe's common currency. His conclusion: markets have to understand there are no quick fixes, but with the current correction of macroeconomic imbalances well on track, a genuine "Economic and Monetary Union 2.0" will pave Europe's way into the...

In today's Wall Street Journal, European Commission Vice President and Commissioner for Economic and Monetary Affairs Olli Rehn writes that the euro zone is at a decisive juncture as "Europe is undergoing a correction of the macroeconomic imbalances that built up before the financial shock of 2008." Noting that "over the last two years, Europe has made remarkable progress in addressing these imbalances," he points out that Europe's financial firewalls have been significantly strengthened and that "Europe is committed to...

The Whitehouse: July Energy Review: Advanced Fuels Move U.S. Ahead The Military Sealift Command fleet replenishment oiler USNS Henry J. Kaiser (T-AO 187), left, delivers a 50-50 blend of advanced biofuels and traditional petroleum-based fuel to the guided-missile cruiser USS Princeton (CG 59) during the Great Green Fleet demonstration portion of Rim of the Pacific (RIMPAC) 2012 exercise. Earlier this month, during the Rim of the Pacific Exercise (RIMPAC) – the largest maritime exercise in the world – the U.S. Navy...

According to the latest Eurobarometer survey, Europeans broadly support the initiatives for growth, stability and jobs put forward by the European Union. As member states implement reforms, it is encouraging that citizens approve of the level of ambition under the EU's growth strategy (Europe 2020). The modernization of labor markets, creation of jobs, helping the poor and socially excluded, and supporting an economy that uses less natural resources are seen among the top priorities. The Spring 2012 Eurobarometer, the bi-annual opinion poll...

(Reuters) - The euro zone is not in danger of breaking up despite some analysts' worse case scenarios, European Central Bank President Mario Draghi said, judging that the bloc was inevitably marching towards closer union among its members. Full Article

A measure known as the "Corzine rule" would require top executives at futures brokers to sign off on major withdrawals from customer accounts. A major withdrawal would be considered anything more than 25 percent of a customer's excess funds. read on

American enthusiasm for international accounting standards appears to have waned. Without any fanfare, the staff of the SEC released a long-delayed study about use of international accounting standards in the United States, several weeks after it had been finished. read on

The European American Chamber of Commerce New York hosted a Newsmaker Breakfast for the Danish Minister for European Affairs, Nicolai Wammen, during his visit to New York this week. The ministers presentation “Europe – The Path Ahead” focused on the current economic situation in Europe, the main results achieved during the recently completed Danish EU Presidency and not least on creating growth and jobs across the Atlantic. “I am not so fortunate as to live in New York every day, but...