EU Economic and Monetary Affairs Correspondent
Jan's Feed
Mar 2, 2015

Germany calls Greek conspiracy remarks ‘foul play’, Commission mediating

BRUSSELS (Reuters) – The European Commission said it was seeking to maintain EU unity after Greece accused Spain and Portugal of conspiring against it, triggering complaints from Madrid and Lisbon and a charge of “foul play” from Berlin.

Greek Prime Minister Alexis Tsipras accused Spain and Portugal of leading a conservative conspiracy to topple his anti-austerity government because they feared the rise of the left in their own countries.

Mar 2, 2015

Euro zone Feb prices fall less than expected, unemployment down

BRUSSELS (Reuters) – Euro zone consumer prices fell by less than expected in February while unemployment eased in January for the third month in a row, offering signs that the risks of economic stagnation and deflation in the bloc are falling.

The European Union’s statistics office Eurostat estimated on Monday that consumer prices in the 19 countries sharing the euro fell 0.3 percent year-on-year in February after a 0.6 percent annual drop in the previous month. Economists polled by Reuters had expected a 0.4 percent price decline.

Feb 27, 2015

Greece runs out of funding options despite euro zone reprieve

BRUSSELS/ATHENS (Reuters) – Greece is running out of options to fund itself despite a four-month bailout extension, raising pressure on Athens to quickly implement reforms it has vocally opposed or default on debt repayments in a matter of weeks.

Eurozone and IMF creditors gave Greece extra time until the end of June to complete the bailout program and receive the remaining 7.2 billion euros but it will not be allowed any funds until it passes a review that could take weeks to negotiate.

Feb 25, 2015

EU gives France until 2017 to cut deficit; Italy, Belgium in clear

BRUSSELS, Feb 25 (Reuters) – The European Commission gave
France until 2017 to get its budget deficit below an EU-imposed
limit, sparing Paris a fine and giving it a new two-year grace
period after it missed a second deadline to puts its finances in
order.

Co-creator of the euro and the EU’s second biggest economy,
France has repeatedly failed to meet pledges to cut its deficit,
arguing against a German push for austerity at a time of high
unemployment and struggling under Socialist President Francois
Hollande to reduce spending in the face of popular opposition.

Feb 24, 2015

Euro zone backs Greek aid extension, seeks clearer reforms

BRUSSELS/BERLIN, Feb 24 (Reuters) – Greece secured a
four-month extension of its financial rescue on Tuesday when its
euro zone partners approved a reform plan that backed down on
key leftist measures and promised that spending to alleviate
social distress would not derail its budget.

Finance ministers sealed the decision in a telephone
conference convened by Eurogroup chairman Jeroen Dijsselbloem
after the new leftist-led Athens government sent him a detailed
list of reforms it plans to implement by the end of June.

Feb 24, 2015

Euro zone backs Greek reform plan, 4-month aid extension

BRUSSELS/BERLIN, Feb 24 (Reuters) – Greece secured a
four-month extension of its financial rescue on Tuesday when its
euro zone partners approved a reform plan that backed down on
key leftist measures and promised that spending to alleviate
social distress would not derail its budget.

Finance ministers sealed the decision in a one-hour
telephone conference convened by Eurogroup chairman Jeroen
Dijsselbloem after the new leftist-led Athens government sent
him a detailed list of reforms it plans to implement by July.

Feb 24, 2015

Greece on course for euro bailout extension after concessions

BERLIN/BRUSSELS, Feb 24 (Reuters) – Greece was on course to
win a four-month extension of its euro zone financial rescue on
Tuesday after backing down further to its partners on key
leftist reforms and promising that measures to alleviate social
distress will not derail its budget.

Eurogroup chairman Jeroen Dijsselbloem convened a telephone
conference of finance ministers of the currency bloc to seal the
decision after the new leftist-led government in Athens sent him
a detailed list of reforms it plans to implement by July.

Feb 24, 2015

Greece makes more concessions to euro zone, Germany sets vote

BERLIN/BRUSSELS, Feb 24 (Reuters) – Greece’s new leftist-led
government climbed down further to euro zone creditors on its
plans to halt privatisations, boost welfare and raise the
minimum wage as markets rallied on the prospect of a four-month
extension of its financial rescue.

A letter sent to Eurogroup chairman Jeroen Dijsselbloem late
on Monday set out in broad terms the measures Athens plans to
implement by July, offering assurances it will not deviate from
fiscal targets or roll back past reforms.

Feb 22, 2015

Insight – Ten days that shook the euro; how Greece came to the brink

BRUSSELS (Reuters) – The “rock star” took on the rock. And the rock won.

Germany’s Wolfgang Schaeuble, the “immovable object” in the words of one economist, stopped Greece’s charismatic new finance minister Yanis Varoufakis in his tracks, forcing Athens to extend a bailout programme on Friday on terms its government was just elected to get out of.

Feb 22, 2015

Ten days that shook the euro; how Greece came to the brink

BRUSSELS, Feb 22 (Reuters) – The “rock star” took on the
rock. And the rock won.

Germany’s Wolfgang Schaeuble, the “immovable object” in the
words of one economist, stopped Greece’s charismatic new finance
minister Yanis Varoufakis in his tracks, forcing Athens to
extend a bailout programme on Friday on terms its government was
just elected to get out of.

    • 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."
    • Follow Jan