Reports suggested that Britain was just six hours of running out of gas earlier in the current year. A harsh winter weather along with a defected import pipeline resulted in supplies being frequently brought in application up till the end of the month of March.

Talking to a specialist forum on Thursday, Austria's Ambassador to Romania, Michael Schwarzinger said that the countries participating in the European Union Strategy for the Danube Region (EUDRS) will have to consider rebranding.

A delegation presented their country's model as an instance of best practice successfully assisting the young people discovers worthwhile employment. The delegation includes the presidents of Austria's four social partner organizations. The presentation was represented in Brussels.

A number of positive things have taken place on Eurozone economy front and has led to strength of Euro. Majority of European stocks have also witness a rise. Experts were of the view that rise has been witnessed due to rise in German business confidence.

Britain is facing high debt and this has become a headache for political leaders and economists. The country has been strict policy to reduce government expenses and keep things under control.

"In my view, we are maybe two thirds to three quarters of the way through in each case, varying both across and within sectors."

A top human rights group has expressed serious concerns over the worsening situation of refugees and migrants fleeing wars and economic hardships in Europe. The financial turmoil and austerity stokes bias against foreigners have exacerbated their plight.

As per reports, the EU is moving closer to fighting the tax frauds. Recently, it has been seen that Europe is ending the banking secrecy to deal with the situation.

Mr. Mark Carney, top central banker in Canada and the incoming governor of the Bank of England, said in a statement that without `sustained and significant reforms', Europe is in state of stagnation from last ten years. He further added that the Europe can take even half of lessons from Japan on tackling the dangers.