EU Economic and Monetary Affairs Correspondent
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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.

Sep 14, 2013

Berlin mulls way to bank union without Treaty change – officials

VILNIUS, Sept 14 (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.

Sep 11, 2013

EU ministers, central bankers to take it slow on banking union

BRUSSELS (Reuters) – European finance officials will discuss progress towards a banking union on Friday, amid signs the ambitious plan for a single banking framework for the euro zone is stalled as Germany and others argue over its scope.

The informal meeting of EU finance ministers and central bank governors in Vilnius on Friday and Saturday is not expected to break new ground but is their first chance since July to take stock of the increasing number of hurdles to the plan.

Sep 5, 2013

Decision on third Greek bailout set for November: officials

BRUSSELS (Reuters) – The euro zone is likely to decide on a third bailout for Greece in November, after international inspectors finish an assessment of Greece’s struggles to carry out painful reforms, officials said on Thursday.

The International Monetary Fund and Greece estimate that Athens will need 10-11 billion euros in new financing in 2014- 2015 above what the euro zone and the International Monetary Fund have agreed to so far.

Jul 25, 2013

ECB should cut rates, launch new cheap loans to banks to help growth – IMF

BRUSSELS (Reuters) – The European Central Bank may have to cut interest rates and launch a fresh round of unconventional monetary easing to help boost the euro zone economy, which is still weighed down by spending cuts, the IMF said on Thursday.

While recent purchasing managers’ surveys on the euro zone have suggested that business activity is picking up, offering a glimmer of hope that the currency bloc can return to growth soon, the IMF does not see a recovery until 2014.

Jul 25, 2013

ECB should cut rates, launch new cheap loans to banks to help growth, IMF says

BRUSSELS (Reuters) – The European Central Bank may have to cut interest rates and launch a fresh round of unconventional monetary easing to help boost the euro zone economy, which is still weighed down by spending cuts, the IMF said on Thursday.

While recent purchasing managers’ surveys on the euro zone have suggested that business activity is picking up, offering a glimmer of hope that the currency bloc can return to growth soon, the IMF does not see a recovery until 2014.

Jul 20, 2013

G20 puts growth before austerity, vows to tread carefully

MOSCOW (Reuters) – The Group of 20 nations pledged on Saturday to put growth before austerity, seeking to revive a global economy that “remains too weak” and adjusting stimulus policies with care so that recovery is not derailed by volatile financial markets.

Finance ministers and central bankers signed off on a communiqué that acknowledged the benefits of expansive policies in the United States and Japan but highlighted the recession in the euro zone and a slowdown in emerging markets.

Jul 20, 2013

G20 wary of scaring markets, promises careful policy shift

MOSCOW (Reuters) – The Group of 20 nations, wary of renewed market volatility, pledged on Friday to shift policy carefully and communicate clearly as they seek to navigate a path to recovery.

A final draft communique prepared for G20 finance ministers and central bankers meeting in Moscow said an action plan to boost jobs and growth, while rebalancing global demand and debt, would be readied for their leaders in September.

    • 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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