EU Economic and Monetary Affairs Correspondent
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Oct 31, 2013

Doubts emerge over troika’s return to Greece amid budget hole

BRUSSELS (Reuters) – International inspectors are set to put on hold a trip to Athens because they have been unable to bridge differences with Greece over how to close a 2 billion-euro hole in its 2014 budget, euro zone officials said.

Athens however denied there had been any changes to the inspectors’ scheduled return early next week, and Greece’s finance minister said the officials had asked for a meeting on Tuesday.

Oct 31, 2013

Troika put return Greek visit on ice due to budget hole

BRUSSELS, Oct 31 (Reuters) – International inspectors are
set to put on hold a trip to Athens because they have been
unable to bridge differences with Greece over how to close a 2
billion euro ($2.7 billion) hole in its 2014 budget, euro zone
officials said.

A team of officials from the IMF, the European Commission
and the European Central Bank – known as the Troika – visits
Athens regularly to check progress on its bailout commitments
and decide whether to release the next tranche of loans.

Oct 31, 2013

Troika inspectors to put return Greek visit on hold, officials say

BRUSSELS, Oct 31 (Reuters) – International inspectors are
set to put on hold a trip to Athens because they have been
unable to bridge differences with Greece over how to close a 2
billion euro hole in its 2014 budget, euro zone officials said.

A team of officials from the IMF, the European Commission
and the European Central Bank – the Troika – visits Athens
regularly to check on progress on its bailout commitments and to
decide whether to release the next tranche of loans.

Oct 25, 2013

Euro zone suffers from integration fatigue

BRUSSELS, Oct 25 (Reuters) – The euro zone is suffering from
integration fatigue and banking union might be the last big push
for the foreseeable future, officials in the currency bloc say.

After three years of tightening policy cooperation, forced
by a sovereign debt crisis, the single currency area may be
reaching the limits of how much power governments are willing to
cede.

Oct 24, 2013

EU leaders to set tight timetable on completing banking union

BRUSSELS, Oct 24 (Reuters) – European leaders will confirm
on Friday an ambitious timetable for the completion of a banking
union, Europe’s biggest project since the euro, and set a
December deadline for fleshing out the idea of rewards for
structural reforms in the euro zone.

Policy-makers believe a banking union in the 18 countries
that will share the euro from next year will help increase the
flow of credit, boost growth and help prevent financial crises
in the future.

Oct 12, 2013

Financing Greece – key decisions over the next 12 months

WASHINGTON, Oct 12 (Reuters) – The euro zone will have to
decide over the next 12 months how to close a financing gap in
the current Greek bailout, how to help the country cut its debt
to sustainable levels and whether to lend it more money for 2015
and 2016.

The three issues are likely to be dealt with separately at
different points in time, although the question for the euro
zone is more about precisely how to help Athens, rather than if.

Oct 12, 2013

ECB’s Asmussen: G20 losing steam as crisis abates

WASHINGTON (Reuters) – Financial leaders from the Group of 20 leading economies should reduce the number of issues they tackle, agree on measurable targets and set up a permanent secretariat to revitalize their work, a senior European Central Bank official said.

“The G20 seems to have lost its earlier momentum. The case for acting in unison has diminished now that the most acute phase of the global financial crisis is behind us,” ECB Executive Board Member Joerg Asmussen told a seminar on Saturday.

Oct 11, 2013

EU’s Rehn: Spain, Ireland may not need precautionary credit to exit bailouts

WASHINGTON (Reuters) – The European Commission is in discussions with Spain and Ireland on how to ensure a smooth exit from their bailouts in the next months, but both may succeed without any special arrangements, EU Economic and Monetary Affairs Commissioner Olli Rehn said.

Ireland’s three-year, 67.5 billion euro ($92 billion) bailout from the euro zone and the International Monetary Fund, and the associated conditions on budgets and policy, is due to end on December 7.

Oct 8, 2013

Spain won’t ask for more aid, Ireland may not need to -EU official

BRUSSELS, Oct 8 (Reuters) – Neither Spain nor Ireland are
likely to seek more financial aid when current programmes of EU
and IMF support end this year because Spain does not want to and
Ireland is already funded for 2014, a senior EU official said on
Tuesday.

Ireland’s three-year, 67.5 billion euro ($92 billion)
bailout from the euro zone and the International Monetary Fund,
and the associated conditions on budgets and policy, is due to
end on December 7.

Sep 14, 2013

Exclusive: Berlin mulls way to bank union without Treaty change – officials

VILNIUS (Reuters) – Germany is working on a plan that would allow the completion of a euro zone banking union without changing existing EU law, potentially removing a major hurdle to finish the most ambitious EU project since the start of the euro, EU officials said.

So far, Berlin has insisted the 28-nation bloc needs to amend its Treaty if it is to move the power to unwind or fix struggling banks from a national to a European level.

    • 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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