The European Union (EU) is an economic and political union of 27 member states that are located primarily in Europe.

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UK economic growth passes pre-crisis peak

Flag Of The United Kingdom - Union Jack

Britain's economy powered on in the second quarter, recording its strongest growth since before the financial crisis, but economists warned the pressure was on UK consumers and businesses to sustain the recovery amid the threat of a triple-dip recession in the eurozone.

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European Union

Cyprus Bailout 'Disaster' Risks New Euro Crisis

The decision by the euro zone to force bank depositors in Cyprus to contribute towards a bailout, a first in the euro zone debt crisis, could hurt other peripheral nations, the euro and the global stock market rally, analysts warned.

Exit Sign

How the UK could manage if it quit the EU

A member of Britain's diplomatic service has won a 100,000 euro ($140,000) cash prize for his proposal outlining a blueprint for Britain after its potential exit from the European Union.

EU Launches CDS Probes Of 16 Banks

The European Commission has opened two antitrust investigations concerning the Credit Default Swaps market. CDS are financial instruments meant to protect investors in the event a company or State they have invested in default on their payments. They are also used as speculative tools.

European Union

Why the City of London Would Be Better Off Outside the EU

The perennial debate concerning Britain and the European Union is not quite reaching its denouement, but this Friday's long awaited speech from Prime Minister David Cameron on desired future relations between the two parties is certainly concentrating the issue.

Pointing The Finger

Six banks to be fined over rate rigging

EU antitrust regulators are set to fine six global banks including Deutsche Bank, JPMorgan and HSBC for suspected rigging of benchmark euro zone interest rates, a person familiar with the matter said on Tuesday.

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'We Feel Like Crying': Cypriots Lament 'Terrible' Deal

A day after Cyprus struck an 11th hour bailout deal with international creditors, economists warned of the devastating impact it would have on the Cypriot economy as ordinary Cypriots attempted to come to terms with a new reality.

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