EU Economic and Monetary Affairs Correspondent
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Apr 17, 2015

G20 strikes hopeful tone, but officials fret over Greece

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
recovery.

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.

Apr 17, 2015

G20 warns of financial volatility risk as central banks diverge

WASHINGTON (Reuters) – The Group of 20 leading economies was set on Friday to warn of a heightened risk of financial volatility as the monetary policies of major central banks begin to go their separate ways.

“In an environment of diverging monetary policy settings and rising financial market volatility, policy settings should be carefully calibrated and clearly communicated to minimize negative spillovers,” G20 finance ministers and central bankers said in a draft communique.

Apr 17, 2015

Greece mixes defiance, compromise as lending deal slips away

WASHINGTON (Reuters) – Greece on Thursday sounded a mix of defiance and willingness to compromise with its international creditors on reforms required to unlock more loans, as it faces running out of money ahead of debt repayments next month.

Cut off from markets and refusing so far to accept the terms set by its lenders, the Greek government may have to choose in the next few weeks to pay salaries and pensions or repay International Monetary Fund loans.

Apr 9, 2015

Greece makes IMF payment, gets bank funds, but doubts remain

BRUSSELS/ATHENS, April 9 (Reuters) – Greece made a crucial
payment to the International Monetary Fund and won extra
emergency lending for its banks on Thursday but it remained
unclear whether Athens can satisfy sceptical creditors on
economic reforms before it runs out of money.

Euro zone partners gave Greece six working days to improve a
package of proposed reforms in time for finance ministers of the
currency bloc to consider whether to release more funds to keep
the country afloat when they meet on April 24.

Apr 9, 2015

Euro zone sets Greece reform deadline ahead of IMF repayment

BRUSSELS/ATHENS, April 9 (Reuters) – Euro zone partners set
Greece a deadline of six working days to improve proposed
economic reforms in time for finance ministers to consider some
emergency funding to keep the country afloat after it makes a
repayment to the IMF on Thursday.

EU officials said Athens made an urgent plea for cash at a
meeting of deputy finance ministers in Brussels on Wednesday
night but was told there must first be progress on the stalled
list of measures to make its public finances sustainable.

Apr 9, 2015

Greece pleads cash running out, told to hasten reforms

BRUSSELS (Reuters) – Greece made another plea to the euro zone for cash to avert bankruptcy but was told to present an improved list of economic reforms within six working days for finance ministers to pave the way for any more lending, EU officials said on Thursday.

Athens appealed for liquidity support at a meeting of deputy finance ministers in Brussels on Wednesday night but was told there must first be progress on the stalled list of measures to make public finances sustainable.

Mar 31, 2015

Euro zone price fall slows as expected, deflation fears ease

BRUSSELS (Reuters) – Euro zone consumer prices fell again in March, as expected, but the decline was the smallest this year, indicating the price of goods and services could start rising again soon.

Meanwhile, the region’s unemployment rate fell to its lowest in almost three years, a sign the economy is picking up steam and inflation is likely to rise.

Mar 29, 2015

Greek reform list yet to take shape as talks with lenders continue

ATHENS/BRUSSELS (Reuters) – Greece and its international creditors continued talks through the weekend on reforms to unlock loans and Athens sounded an upbeat tone, but the lenders said it could take several more days before a proper list of measures was ready.

Greece will run out of money by April 20 if it does not secure funding from its European partners, a source familiar with the matter told Reuters last week.

Mar 28, 2015

Portugal pushes for closer euro zone integration

BRUSSELS, March 28 (Reuters) – Portugal has presented
proposals for closer economic coordination between the countries
of the euro zone as the bloc tries to put crises over Greece and
other big debtor states behind it.

EU ministers will study the Portuguese discussion paper,
entitled “The Missing Piece in the Economic and Monetary Union
Puzzle: Economic Policy Coordination”, ahead of a summit of
leaders in June at which they are expected to outline plans to
strengthen the single currency area over coming years.

Mar 27, 2015

Analysis – Neither Grexit, nor Grexident. Euro and “drachma” in parallel?

BRUSSELS (Reuters) – Greece is unlikely to exit the euro, either intentionally or accidentally. But it might be forced to introduce an alternative means of payment, in parallel to the euro, to pay some domestic bills if a reform-for-cash deal with its creditors is not secured soon, several euro zone officials said.

Athens has lost access to bond markets and international creditors are not willing to lend it more money until it starts implementing reforms. An official familiar with the matter told Reuters this week that without fresh funds, the government will run out of money by April 20.

    • 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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