A new survey points to an increase in confidence in the euro zone?s nascent economic recovery. The European Union?s statistics office on Wednesday said economic sentiment in the 17-nation euro zone rose for the sixth time in a row in October. Eurostat says the Economic Sentiment Indicator increased by 0.9 points to 97.8 for the euro zone and by 1.1 points to 101.8 for the EU?s 28 nations. The euro zone?s economy grew by 0.3% in the second quarter compared with the previous three-month period, bringing it out of recession. The uptick followed six straight quarterly declines that have pushed unemployment above 12%.
UN rights chief criticises Maldives? top court
The United Nations? top human rights official is accusing the Maldives? Supreme Court of interfering excessively in the country?s presidential elections. The court earlier this month annulled a September 7 election and ordered a revote, which was canceled after police intervened. UN high commissioner for human rights Navi Pillay said on Wednesday that she is ?alarmed that the Supreme Court … Is interfering excessively in the presidential elections, and in so doing is subverting the democratic process and violating the right of Maldivians to freely elect their representatives?. She says the democratic process is in ?dangerous drift?.
Spanish figures confirm exit from recession
Spain?s National Statistics Institute says the economy grew in the third quarter, confirming preliminary estimates that show an end to the two-year recession. The institute said the economy grew 0.1% compared with the previous quarter. The growth ended nine straight quarterly declines economic activity. The institute said that on a y-o-y basis, the economy shrank by 1.2% as dismal domestic spending offset gains in exports. With unemployment at 26%, the government admits that while the recession may have technically ended it could take years for the country to recover from the economic crisis.
Ukraine hopes to settle Russian gas bill row soon
Ukraine?s energy minister acknowledged on Wednesday the country may have fallen behind in payments for monthly supplies of Russian gas but said he expected the matter to be settled with Moscow very soon. Russian gas export monopoly Gazprom said on Tuesday Ukraine, which relies heavily on supplies of Russian gas, had failed to settle a $882-million bill for August deliveries and demanded it be paid urgently. The harsh language used by Gazprom and Russian Prime Minister Dmitry Medvedev evoked fears of a new ?gas war? over prices between the two neighbours, similar to those in the winters of 2006 and 2009 which caused supplies to be disrupted not only to Ukraine but to the rest of Europe.
