EU Economic and Monetary Affairs Correspondent
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Dec 17, 2014

EU leaders to endorse investment plan in search for growth

BRUSSELS, Dec 17 (Reuters) – European Union leaders will
agree on Thursday to set up a highly leveraged investment fund
they hope can kick-start the bloc’s economy and reduce high
unemployment and public debt.

The plan, presented by the executive European Commission
last month and set to be endorsed by the 28 national leaders at
a Brussels summit, is to use 21 billion euros of EU funds to
attract 15 times more private investment in infrastructure,
energy projects, research and education.

Dec 17, 2014

Analysis – Greek political fallout a worry, but financial contagion seen limited

BRUSSELS (Reuters) – Five years after Greece sparked a sovereign debt crisis that threatened the euro’s survival, the country again has the potential to rattle its currency partners if Greeks have to elect a new government next month.

But this time any fallout for the euro zone could be more political than financial. It would be seen in rising support for militant political parties rather than rising borrowing costs.

Dec 17, 2014

Greek political fallout a worry, but financial contagion seen limited

BRUSSELS (Reuters) – Five years after Greece sparked a sovereign debt crisis that threatened the euro’s survival, the country again has the potential to rattle its currency partners if Greeks have to elect a new government next month.

But this time any fallout for the euro zone could be more political than financial. It would be seen in rising support for militant political parties rather than rising borrowing costs.

Dec 11, 2014

EU says outcome of French reforms uncertain, more needed

BRUSSELS (Reuters) – France’s efforts to improve its competitiveness and reduce its public debt may not be effective and it needs to press ahead with further reforms, the European Commission said in a report on Thursday.

The report reviews progress made by Paris to tackle its economic imbalances under a European Union procedure to prevent problems in some sectors of an EU country’s economy from becoming a full blown crisis that affects the whole bloc.

Dec 10, 2014

EU investment plan risks crowding out private sector -Polish finmin

BRUSSELS, Dec 10 (Reuters) – The relatively small amount of
public money in the European Union’s flagship investment plan
risks crowding out the private sector, Polish Finance Minister
Mateusz Szczurek said on Wednesday.

The European Commission has proposed a plan in which 5
billion euros ($6.2 billion) in cash from the government-owned
European Investment Bank and 16 billion euros of EU guarantees
would be used to attract 15 times more private money.

Dec 4, 2014

Euro zone mulls extending Greek bailout by 6 months, Athens refuses

ATHENS, Dec 4 (Reuters) – Euro zone ministers are
considering extending Greece’s bailout by six months to
mid-2015, according to a document obtained by Reuters, but
Athens said it was only willing to consider an extension of a
few weeks to the unpopular programme.

Extending the programme beyond a few weeks into the new year
would complicate Prime Minister Antonis Samaras’ efforts to
secure victory for his preferred candidate in a presidential
vote in February. He had depended on exiting the EU/IMF bailout
by the end of the year, when funding from the EU is due to end.

Dec 4, 2014

Exclusive: Euro zone mulls extending Greek bailout until mid-2015

ATHENS (Reuters) – Euro zone ministers are considering extending the Greek bailout, due to end this year, by six months to the middle of 2015, to allow Athens more time to comply with the conditions for the disbursement of the remaining money, a document showed.

But extending the program beyond a few weeks into the new year would complicate Prime Minister Antonis Samaras’ efforts to secure victory for his preferred candidate in a presidential vote in February since he has staked his chances on exiting the EU/IMF bailout by the end of the year, when funding from the EU is due to end.

Dec 4, 2014

Euro zone mulls extending Greek bailout until mid-2015

ATHENS, Dec 4 (Reuters) – Euro zone ministers are
considering extending the Greek bailout, due to end this year,
by six months to the middle of 2015, to allow Athens more time
to comply with the conditions for the disbursement of the
remaining money, a document showed.

But extending the programme beyond a few weeks into the new
year would complicate Prime Minister Antonis Samaras’ efforts to
secure victory for his preferred candidate in a presidential
vote in February since he has staked his chances on exiting the
EU/IMF bailout by the end of the year, when funding from the EU
is due to end.

Nov 28, 2014

EU puts off French and Italian budget rulings until March

BRUSSELS (Reuters) – The European Commission postponed until March its decisions on whether the 2015 budgets of France, Italy and Belgium break EU rules, saying it needed more information to be sure.

Available data indicates that the Commission could slap a fine of up to 4.2 billion euros ($5.2 billion) on France for falling well short of its deficit-cutting obligations and put Italy and Belgium under a disciplinary process over their debt.

Nov 28, 2014

France, Italy, Belgium promise reform in letters to EU: Dombrovskis

BRUSSELS (Reuters) – France, Italy and Belgium have sent letters to the European Commission pledging structural reforms and possible extra fiscal steps to win more time before a ruling on whether their budget policies break EU rules, the EU’s top euro official said.

France, which is already under an EU disciplinary procedure for running a budget deficit that is way above the EU ceiling of 3 percent of GDP, is facing a fine of up to 4.2 billion euros if by March the Commission decides that it has not taken steps agreed with EU finance ministers to consolidate its finances.

    • 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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