RIGA/LONDON, April 24 (Reuters) – The European Union is
expected to give a green light for the Swiss securities clearing
house to keep handling trades involving parties based in the EU,
a senior Swiss markets official said.
Clearing houses, vital parts of the electronic plumbing
which helps markets run, stand between two sides of a trade to
guarantee its completion even if one side goes bust.
RIGA, April 24 (Reuters) – European governments have failed
to implement most of the reforms that could help bring down the
EU’s chronic unemployment problem and are doing less as the euro
zone crisis ebbs, according to an EU document presented to
Despite the uncertainty surrounding Greece, the European
economy looks to be growing again but policymakers worry that
the region may be trapped in a period of low growth, unable to
tackle the scourge of youth unemployment.
RIGA, April 24 (Reuters) – Greece offered some concessions
on Friday on reforms demanded by international lenders in return
for new funding before Athens runs out of money, but euro zone
creditors said negotiations needed to speed up to get a deal by
After talks with German Chancellor Angela Merkel on Thursday
in Brussels, Greek Prime Minister Alexis Tsipras said he wanted
a deal by the end of this month. Merkel, in a comment seen as
underlining the determination of Europe’s main paymaster to keep
Greece in the euro zone, said “everything must be undertaken to
prevent” Athens running out of cash.
RIGA (Reuters) – Greece offered concessions on Friday on some key reforms demanded by international lenders in exchange for new funding for the country as Athens quickly runs out of money.
In a blog published on the day when euro zone finance ministers meet in Riga to assess progress on a comprehensive package of reforms, Greek Finance Minister Yanis Varoufakis agreed to some of the creditors’ conditions.
ATHENS/BRUSSELS, April 22 (Reuters) – Greece can scrape
together enough cash to meet its payment obligations until June,
euro zone and Greek officials said on Wednesday, playing down
fears of an imminent default as hopes receded of a deal with its
creditors to release fresh aid.
Sources familiar with European Central Bank policy meanwhile
denied a report that the ECB had tightened the screws on Greek
banks by slashing the value of the collateral they present to
receive emergency funding to keep themselves afloat.
BRUSSELS (Reuters) – Euro zone finance ministers will not set any deadline for Greece to come up with reforms to get more funding because such time limits lead to brinkmanship in negotiations, a senior euro zone official said on Tuesday.
Greece, which is quickly running out of cash, pledged to its euro zone partners in February that by the end of April it would agree with creditors on a comprehensive list of reforms to get 7.2 billion euros remaining from its bailout.
WASHINGTON (Reuters) – France’s challenge of structural deficit targets set by European Union finance ministers is a legal problem, but economic growth and nominal deficit goals are more important in the end, EU Economics Commissioner Pierre Moscovici said.
His remarks in an interview with Reuters signal a willingness to accommodate France’s new deficit reduction plan, even if it does not fully comply with the recommendations of EU finance ministers, as long as the headline deficit number is in line with EU laws.
WASHINGTON (Reuters) – Greece and the euro zone should not play a game of chicken to see who can hold out longer in negotiations about more lending to Athens in exchange for reforms, the chairman of euro zone finance ministers Jeroen Dijsselbloem said on Friday.
Speaking to reporters on the sidelines of the International Monetary Fund meetings, Dijsselbloem said representatives of Greece’s creditors would not be able to produce a deal for the approval of euro zone finance ministers on April 24th as hoped, because progress on agreeing reforms was painfully slow.
WASHINGTON (Reuters) – Despite tightening liquidity, Greece is unlikely to get any money from euro zone finance ministers at an April 24 meeting because it is dragging its feet on reforms, European Commission Vice President Valdis Dombrovskis said on Friday.
Greece is quickly running out of cash and in the next few weeks may face a choice of either paying salaries and pensions or paying back loans from the International Monetary Fund.
WASHINGTON, April 17 (Reuters) – The Group of 20 leading
economies struck a hopeful tone on the outlook for global growth
on Friday even as officials fretted that Athen’s inability to
strike a deal with its lenders could upset Europe’s tentative
In a draft of a communique to be released later in the day,
G20 finance ministers and central bankers welcomed brighter
economic signs in rich economies, but lamented over weakness in
some emerging nations.