EU Economic and Monetary Affairs Correspondent
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Sep 1, 2015

Low inflation in Europe puts spotlight on ECB

BRUSSELS/ FRANKFURT (Reuters) – With low price inflation serving as a reminder of the euro zone’s delicate health, the European Central Bank is having to reassure market investors that it can do yet more to help the economy.

Fresh data showed on Monday that inflation throughout the 19-country bloc was just 0.2 percent – illustrating that while the euro zone’s economy is stabilising, it is doing so only at a very low level.

Aug 31, 2015

Euro zone inflation steady in August, easing pressure on ECB

BRUSSELS (Reuters) – Annual inflation in the euro zone was the same in August as in July, defying economists’ expectations of a slowdown, as rising prices of unprocessed food and services offset some of the downward pull from cheaper energy.

In its first official estimate, European Union statistics office Eurostat said euro zone prices rose 0.2 percent year-on-year this month, the same as in July and more than the 0.1 percent forecast in a Reuters poll.

Jul 17, 2015

Counting the cost for Greece and Europe

BRUSSELS (Reuters) – When Greek leaders began a shift in policy last year to ease themselves out from under the tutelage of foreign creditors, they hoped it would bring economic as well as political gains.

Nine months on, falling output and a slump in asset values have racked up costs to the economy that by one measure stand at over 60 billion euros, or a third of national income, while EU states and the IMF may have to lend Athens three times more than they had planned to bail out Greece for a third time.

Jul 17, 2015

Analysis – Counting the cost for Greece and Europe

BRUSSELS (Reuters) – When Greek leaders began a shift in policy last year to ease themselves out from under the tutelage of foreign creditors, they hoped it would bring economic as well as political gains.

Nine months on, falling output and a slump in asset values have racked up costs to the economy that by one measure stand at over 60 billion euros (42 billion pounds), or a third of national income, while EU states and the IMF may have to lend Athens three times more than they had planned to bail out Greece for a third time.

Jul 15, 2015

IMF calls for Greece debt relief ahead of bailout vote

ATHENS/BRUSSELS (Reuters) – An International Monetary Fund study published on Tuesday showed that Greece needs far more debt relief than European governments have been willing to contemplate so far, as fractious parties in Athens prepared to vote on a sweeping austerity package demanded by their lenders.

The IMF’s stark warning on Greece’s debt came as Prime Minister Alexis Tsipras struggled to persuade deeply unhappy leftist lawmakers to vote for a package of austerity measures and liberal economic reforms to secure a new bailout.

Jul 14, 2015

IMF calls for Greece debt relief as Germany talks tough

ATHENS/BRUSSELS (Reuters) – A secret International Monetary Fund study showed Greece needs far more debt relief than European governments have been willing to contemplate so far, as Germany heaped pressure on Athens on Tuesday to reform and win back its partners’ trust.

The IMF’s stark warning on Athens’ debt was leaked as Greek Prime Minister Alexis Tsipras struggled to persuade deeply unhappy leftist lawmakers to vote for a package of austerity measures and liberal economic reforms to secure a new bailout.

Jul 14, 2015

Euro zone wrestles over emergency financing for Greece

BRUSSELS, July 14 (Reuters) – Euro zone finance officials
were struggling on Tuesday to find a way of keeping Greece from
defaulting on debt repayments to the ECB next week, with up to
six options on the table but none that is problem-free.

Greece needs 3.5 billion euros ($3.9 billion) by Monday to
redeem its maturing credit from the European Central Bank.
Before this is paid, however, Athens has to settle an overdue
payment to the International Monetary Fund of more than 2
billion euros.

Jul 13, 2015

Eurogroup studies bridge financing for Greece, decision seen Tue/Wed

BRUSSELS, July 13 (Reuters) – Euro zone finance ministers
asked experts on Monday to prepare options of bridge financing
for Greece during four-week talks on a third bailout and expect
to decide on one of them by Wednesday morning, the chairman of
the ministers said.

The opening of talks on a new Greek bailout of 82-86 billion
euros is to be formally decided at the end of the week on
condition that Greece’s parliament passes a raft of laws by
Wednesday night to show it is ready to reform.

Jul 13, 2015

Eurogroup to discuss bridge financing for Greece

BRUSSELS (Reuters) – Euro zone finance ministers will discuss on Monday how to keep Greece financed during the time it will need to agree a third bailout, but none of the options under consideration appear easy, officials said.

“The big issue for today is going to be bridge financing and I foresee those negotiations being very difficult because I don’t see many countries having a mandate to give money without any conditions,” said Finnish Finance Minister Alexander Stubb.

Jul 12, 2015

‘Kindergarten’ as weary euro ministers divide over Greece

BRUSSELS (Reuters) – Caught between the rock of throwing good taxpayers’ money after bad in Greece and the hard place of opening a dangerous crack in their common currency, tempers are fraying among euro zone ministers meeting in Brussels.

So heated did arguments become after nine hours of their sixth emergency council in three weeks that the chairman called a surprise halt just before midnight on Saturday in the hope talks which resumed on Sunday could proceed with clearer heads.

    • About Jan

      "Based in Brussels since 2005, I cover economic policy news from the European Commission, EU and euro zone economic data, monthly meetings of EU/euro zone finance ministers as well as G7/8/20 meetings. Before Brussels I was a correspondent in Stockholm for five years, covering technology stocks and the Swedish central bank. I was earlier a correspondent in Poland for seven years, covering macroeconomic policy, bond, forex and money markets, the central bank and politics."
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