Financial Regulatory Forum

EU leaders reach deal to rescue Greece

By Marcin Grajewski and Jan Strupczewski

BRUSSELS, Feb 11 (Reuters) – European leaders have reached a deal to provide aid to Greece, EU president Herman Van Rompuy said on Thursday, in an unprecedented move to stave off a broader crisis in the 16-nation bloc that shares the euro.

“There is an agreement on the Greek situation. We will communicate now the agreement to the other leaders,” van Rompuy told reporters gathered at an EU leaders’ summit.

The agreement was forged in talks between Van Rompuy, European Commission President Jose Manuel Barroso, French President Nicolas Sarkozy, German Chancellor Angela Merkel, European Central Bank President Jean-Claude Trichet and Greek Prime Minister George Papandreou.

Polish Prime Minister Donald Tusk told reporters earlier that the aid, which would amount to the first bailout of a euro zone members since the currency was created 11 years ago, was likely to come in the form of loans.

“It could be voluntary loans from member states. That seems to be the best option,” Tusk said.

EU to strictly apply state aid, competition rules – Barroso

European Commission President Jose Manuel Barroso speaks at a news conference at the EU Commission headquarters in Brussels October 3, 2009. (File photo)      REUTERS/Francois Lenoir   (BELGIUM POLITICS)   BRUSSELS, Oct 9 (Reuters) – European Commission President Jose Manuel Barroso said on Friday he would strictly enforce the European Union’s competition and state aid rules, despite calls for a less rigorous approach.

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EU unveils blueprint to overhaul policing of banks

European Commissioner in charge of Internal Market and Services Charlie McCreevy speaks during a news conference at EC Headquarters in Brussels September 23, 2009. The European Union unveiled its blueprint on Wednesday for an overhaul of the way banks and financial markets are policed, a central plank to new rules designed to prevent a repeat of the global economic crisis.  REUTERS/Sebastien Pirlet   (BELGIUM POLITICS BUSINESS) By John O’Donnell

BRUSSELS, Sept 23 (Reuters) – The European Union unveiled its blueprint for an overhaul of the way banks and financial markets are policed, a central plank in new rules designed to prevent a repeat of the global economic crisis. It plans to create a banking super-watchdog, with power to overrule countries such as Britain, and a pan-European supervisor that would warn of early signs of crisis.

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EU’s Barroso plans more euro zone cooperation

EU-PAKISTAN/    BRUSSELS, Sept 3 (Reuters) – Jose Manuel Barroso vowed on Thursday to work to boost cooperation within the euro currency zone if he is elected for a second five-year term as president of the European Commission, the European Union’s executive body.
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