EU Economic and Monetary Affairs Correspondent
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Nov 15, 2013

Italy at risk of breaking EU rules, France squeezes through

BRUSSELS (Reuters) – Italy’s draft budget plans for 2014 are at risk of breaking European Union rules, while French draft plans barely make it, the European Commission said on Friday.

It is the first time that the European Union’s executive arm reviews the main assumptions of draft budgets of euro zone countries before they are submitted to national parliaments so as to assess if they are in line with EU laws.

Nov 15, 2013

Italy’s budget at risk of breaking EU rules, France squeezes through

BRUSSELS, Nov 15 (Reuters) – Italy and Finland’s draft
budget plans for 2014 are at risk of breaking European Union
rules, while French, Spanish and Dutch draft plans barely make
it, the European Commission said on Friday.

It is the first time that the European Union’s executive arm
reviews the main assumptions of draft budgets of euro zone
countries before they are submitted to national parliaments so
as to assess if they are in line with EU laws.

Nov 14, 2013

Greece must step up efforts, to unlock funds: Eurogroup head

BRUSSELS (Reuters) – Euro zone finance ministers pressed Greece on Thursday to speed up structural reforms and continue fiscal consolidation and privatization to unblock more of the international loans that keep it afloat.

“A lot of progress has been made, also at social and political costs for the Greek society, and I think we fully acknowledge that,” the chairman of euro zone finance ministers Jeroen Dijsselbloem said after a meeting of the group.

Nov 13, 2013

EU starts investigating German current account surplus

BRUSSELS, Nov 13 (Reuters) – The European Commission decided
on Wednesday to prepare an in-depth analysis of Germany’s
persistently high current account surplus to find out if it is a
sign of a serious imbalance in Europe’s biggest economy.

Germany has had a current account surplus in excess of 6
percent of its gross domestic product since 2007, meaning it
exports far more than it imports from the rest of the world.

Nov 13, 2013

European Commission opens in depth probe into German C/A surplus

BRUSSELS (Reuters) – The European Commission decided on Wednesday to prepare an in depth analysis of Germany’s persistently high current account surplus to find out if it is a sign of a serious imbalance in Europe’s biggest economy.

Germany has had a current account surplus in excess of 6 percent of the gross domestic product since 2007.

Nov 13, 2013

EU exec opens in depth probe into German C/A surplus

BRUSSELS, Nov 13 (Reuters) – The European Commission decided
on Wednesday to prepare an in depth analysis of Germany’s
persistently high current account surplus to find out if it is a
sign of a serious imbalance in Europe’s biggest economy.

Germany has had a current account surplus in excess of 6
percent of the gross domestic product since 2007.

Nov 12, 2013

Greece, lenders at odds over how to close 2 billion euro 2014 budget gap

BRUSSELS (Reuters) – Greece and its international lenders remain at odds over how to close a 2 billion euro gap in Greece’s 2014 budget, and the issue could drag on into next year, delaying further loans to Athens, a senior euro zone official said.

A team of officials from the ‘troika’ of the International Monetary Fund, the European Commission and the European Central Bank visits Athens regularly to check on progress on its bailout commitments and decide whether to release subsequent loan tranches, without which Greece would default.

Nov 5, 2013

Euro zone turns corner but growth, inflation subdued – EU

BRUSSELS (Reuters) – The euro zone economy will expand slightly more slowly next year than expected because of weaker private demand and investment, while inflation will stay well below the central bank target over the next two years.

The European Commission forecasts, published on Tuesday, are likely to add to arguments for an interest rate cut by the European Central Bank, which is to discuss its next policy move on Thursday.

Nov 5, 2013

Euro zone economy turns corner, but growth, inflation subdued: EU executive

BRUSSELS (Reuters) – The euro zone economy will expand slightly more slowly next year than previously expected because of weaker private demand and investment and inflation will stay well below the central bank target over the next two years.

The European Commission forecasts published on Tuesday are likely to add to arguments for an interest rate cut by the European Central Bank, which is to discuss its next policy move on Thursday.

Nov 5, 2013

Euro zone economy turns corner, but growth, inflation subdued-EU exec

BRUSSELS, Nov 5 (Reuters) – The euro zone economy will
expand slightly more slowly next year than previously expected
because of weaker private demand and investment and inflation
will stay well below the central bank target over the next two
years.

The European Commission forecasts published on Tuesday are
likely to add to arguments for an interest rate cut by the
European Central Bank, which is to discuss its next policy move
on Thursday.

    • 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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