BRUSSELS (Reuters) – The European Commission put Italy on Wednesday on its watch list because of the country’s very high public debt and weak competitiveness and warned France that will miss agreed budget deficit reduction targets unless it takes action.
The Commission, the European Union’s executive arm, conducted in-depth reviews of the economies of 17 EU countries that it believes have macro economic imbalances.
BRUSSELS, Feb 28 (Reuters) – Germany and Finland say changes
in the way the European Commission assesses an EU member’s
adherence to budget rules could weaken the bloc’s pact on fiscal
discipline, a document showed on Friday.
The 8-page document, obtained by Reuters, also called for
independent monitoring of the EU executive’s decisions.
BRUSSELS (Reuters) – A small team of financial experts from the European Commission will travel to Ukraine on Monday to assess exactly how much financial assistance it needs, EU officials said on Friday.
The team from the Commission’s directorate-general for economic and financial affairs is expected to meet Ukrainian finance ministry and central bank officials to determine what the country’s budget shortfall and capital needs are.
BRUSSELS (Reuters) – Euro zone inflation stabilized in the European Central Bank’s “danger zone” in February but did not fall as expected, making it less likely the ECB will loosen monetary policy further at its monthly meeting next week.
European Union statistics office Eurostat estimated on Friday that consumer prices in the 18 countries sharing the euro rose an annual 0.8 percent this month. That was the same rate as in January and December, after readings of 0.9 percent in November and 0.7 percent in October.
BRUSSELS, Feb 28 (Reuters) – Euro zone inflation stabilised
in the European Central Bank’s “danger zone” in February but did
not fall as expected, making it less likely the ECB will loosen
monetary policy further at its monthly meeting next week.
European Union statistics office Eurostat estimated on
Friday that consumer prices in the 18 countries sharing the euro
rose an annual 0.8 percent this month. That was the same rate as
in January and December, after readings of 0.9 percent in
November and 0.7 percent in October.
BRUSSELS, Feb 27 (Reuters) – Euro zone economic sentiment
improved more than expected in February, data showed on
Thursday, but falling inflation expectations among consumer and
producers underlined deflation risks.
A monthly European Commission survey showed economic
sentiment in the 18 countries now sharing the euro rose to 101.2
points this month from an upwardly revised 101.0 in January,
above the long-term average of 100 for the third month in a row.
SYDNEY (Reuters) – The world’s top economies have embraced a goal of generating more than $2 trillion in additional output over five years while creating tens of million of new jobs, signaling optimism that the worst of crisis-era austerity was behind them.
The final communique from the two-day meeting of Group 20 finance ministers and central bankers in Sydney said they would take concrete action to increase investment and employment, among other reforms. The group accounts for around 85 percent of the global economy.
SYDNEY (Reuters) – Europe is in favor of setting an economic growth target for the world’s 20 biggest developing and advanced economies (G20), but only if they agree on bold reforms, the European Union’s Economic and Monetary Affairs Commissioner Olli Rehn said.
G20 finance ministers and central bank governors are meeting in Australia on Saturday and Sunday to find ways to boost global economic growth by focusing on investment, competitiveness, trade and employment.
BRUSSELS, Feb 18 (Reuters) – European Union finance
ministers will discuss on Tuesday whether to fully share the
costs of closing down problem banks within five years rather
than 10, a step towards mutualising euro zone risk that has
always been sensitive for Germany.
The discussions are part of efforts to agree the details of
a single bank-resolution mechanism for the euro zone, so
legislation can go to the European Parliament by mid-April,
before European elections are held in late May.
BRUSSELS (Reuters) – Euro zone economic integration may have reached its limits for now even though the 18-country monetary union needs a treasury to make it work better, the head of the influential Bruegel think-tank said on Friday.
Speaking at the Reuters Euro Zone Summit, Guntram Wolff said policymakers have used the sovereign debt crisis of the last three years to shore up the euro zone, but not impregnably.