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.
THE HAGUE (Reuters) – Italy, beset by yet another government crisis, cannot afford political instability at a time when it needs to make its economy more competitive, the chairman of euro zone finance ministers said on Thursday.
Dutch Finance Minister Jeroen Dijsselbloem told a Reuters Euro Zone Summit that political turmoil could hamper the single currency area’s recovery by paralyzing decision-making and freezing structural economic reform in Rome.
THE HAGUE, Feb 13 (Reuters) – Banks that fail this year’s
European health checks badly will have to be closed down, the
head of the euro zone finance ministers group said on Thursday.
The European Central Bank will conduct an Asset Quality
Review later this year to assess the health of 130 large banks
in the 18 countries that share the euro before it takes over as
their supervisor in November.
(Reuters) – The world’s financial leaders will focus on four ways to boost global economic growth when they meet next week in Sydney but the discussion may be overshadowed by emerging market concerns over U.S. monetary policy, a G20 official said.
Finance ministers and central bank governors of the world’s 20 biggest developing and advanced economies (G20) will discuss what changes to fiscal and monetary policies and what structural reforms could make the world economy grow faster than now.
BRUSSELS (Reuters) – France must implement economic reforms to keep its side of a bargain with the European Commission which granted Paris more time to cut its budget gap in return, EU economics chief Olli Rehn said on Monday.
Last May, the Commission gave France two extra years to bring its budget deficit to within the EU limit of 3 percent of gross domestic product, rather than move towards fines for Paris for missing the original 2013 deadline.
BRUSSELS (Reuters) – The European Central Bank still has a “big bazooka” with plenty of ammunition to preserve the euro despite a German constitutional court statement that its bond-buying plan is probably illegal, EU economics chief Olli Rehn said on Monday.
Rehn also urged the ECB to act to ensure that abnormally low inflation in the euro zone rises towards the bank’s target of just below two percent.
BRUSSELS (Reuters) – Euro zone governments are considering inserting a “review clause” into their agreement on the direct recapitalization of banks so that they can reverse or renegotiate the deal in the coming years, officials have told Reuters.
Under the proposal, governments would be able to review direct recapitalization – one of the most hard-fought-over principles of the debt crisis – after 10 years, once a single euro zone bank resolution fund (SRF) is in place.
BRUSSELS (Reuters) – Greece expects the euro zone to provide some debt relief to Athens later this year but the impact on its vast liabilities will be little more than symbolic.
The magic bullet for Greece would be the writing-off of some portion of the 240 billion euros in loans it has received from the euro zone since 2010. But Athens is adamant it does not want that and the euro zone is not willing to provide it.
BRUSSELS, Jan 14 (Reuters) – Greece expects the euro zone to
provide some debt relief to Athens later this year but the
impact on its vast liabilities will be little more than
The magic bullet for Greece would be the writing-off of some
portion of the 240 billion euros in loans it has received from
the euro zone since 2010. But Athens is adamant it does not want
that and the euro zone is not willing to provide it.
BRUSSELS (Reuters) – Euro zone finance ministers made progress on Wednesday on some details of a plan to close banks, paving the way for completion of a euro zone ‘banking union’ that is to restore confidence in the financial sector and boost growth.
More than five years into a financial storm that toppled banks and dragged down states from Ireland to Spain, Europe wants to seal its biggest project since the introduction of the euro – a framework to police banks and tackle their problems together.