EU Economic and Monetary Affairs Correspondent
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Apr 5, 2014

No reason to again give France more time to cut deficit – Rehn

BRUSSELS (Reuters) – There is no reason to further extend a European Union deadline for France to cut its budget deficit, the EU’s top economic official said on Saturday, adding policy-makers should have learnt the lessons of the debt crisis and stuck to agreed rules.

In June last year Paris got two more years, until 2015, to bring its budget shortfall below the EU ceiling of 3 percent of gross domestic product (GDP), from a 4 percent gap the European Commission expects it to have this year.

Apr 1, 2014

Greece wants no 3rd bailout, euro zone hopeful but cautious

April 1 (Reuters) – Greece, fully funded for the next 12
months, hopes to finance itself on the market afterwards, but
its euro zone peers say success depends on whether Athens
delivers on the reforms it has promised so far.

Greece was cut off from markets in 2010 as the true scale of
its debt burden became apparent. But after four years of painful
measures to contain debt, two bailouts worth 240 billion euros
($330 billion) and a hit on private bondholders, the Greek
economy is expected to return to modest growth this year.

Mar 27, 2014

Euro zone not preparing third Greek bailout so far: official

BRUSSELS (Reuters) – The euro zone is not making any preparations for a third bailout for Greece and will consider it only if expressly asked by Athens, which has not happened so far, a senior euro zone official said on Thursday.

Instead, the euro zone is now focusing on the timing and size of disbursements of badly delayed tranches of loans that have already been promised under the first two rescue packages, the official, directly involved in the Greek bailouts said.

Mar 25, 2014

EU to press Obama at summit for aid in cutting Russian gas imports

BRUSSELS, March 26 (Reuters) – The European Union will press
U.S. President Barack Obama on Wednesday to help reduce Europe’s
reliance on Russian energy by exporting U.S. natural gas, at a
time of chill in relations with Moscow over its intervention in
Ukraine.

After a visit to a World War One battlefield, Obama will
have just 75 minutes over lunch with the EU’s top officials to
tackle issues ranging from energy to climate change, in a
meeting that will be dominated by the Ukraine crisis.

Mar 16, 2014

EU to adopt Russia sanctions as Crimea crisis deepens

BRUSSELS (Reuters) – The European Union will raise the stakes in a confrontation with Russia over Ukraine on Monday by slapping sanctions on Russian officials, a day after voters in Ukraine’s Crimea region opted to join Russia in a referendum the EU condemned as illegal.

EU diplomats worked late into the night on Sunday, haggling over a list of people in Crimea and Russia who will be hit with travel bans and asset freezes for actions which “threaten the territorial integrity, sovereignty and independence of Ukraine.”

Mar 14, 2014

EU working from list of 120-130 names for Russia sanctions

BRUSSELS/BERLIN (Reuters) – The European Union has drawn up a list of 120-130 Russians who could be hit with travel bans and asset freezes for their actions over Crimea, European diplomats said on Friday, but the final register of names will only be decided on Sunday.

The five-page list, including senior figures in Russia’s military and political establishment, was drawn up with the assistance of EU diplomats with experience in Moscow, officials told Reuters. It is now being reviewed in Brussels.

Mar 10, 2014

Europe inches closer to deal on bank resolution, more talks ahead

BRUSSELS (Reuters) – Euro zone governments edged closer on Monday towards a deal on how to wind down failing banks, but reached no conclusions and more negotiations will take place on Tuesday to address demands of the European Parliament.

Negotiations are set to last until Wednesday and may be the final step in a European banking union that would mean one supervisor for euro zone banks, one set of rules to close or restructure those in trouble and one pot of money to pay for it.

Mar 10, 2014

Europe reaches crunch point on banking union

BRUSSELS, March 10 (Reuters) – European governments and
lawmakers will try to reach a deal this week on how to wind down
failing banks, clearing the way for a landmark reform as time
runs out to win European Parliament approval before May
elections.

Negotiations are set to span days and may be the final step
in a European banking union that would mean one supervisor for
euro zone banks, one set of rules to close or restructure those
in trouble and one pot of money to pay for it.

Mar 9, 2014

EU aims for deal on tackling failing banks next week

BRUSSELS (Reuters) – European Union governments and parliamentarians will try to reach a compromise this week on how to wind down failing banks, in marathon talks intended to settle who decides to close banks and who picks up the bill.

A deal in the negotiations, set to span three days, would be the final step in a European banking union that would mean one supervisor for all euro zone banks, one set of rules to close or restructure those in trouble and one common pot of money to pay for it.

Mar 6, 2014

Ukraine ready to use military to defend itself against Russia

BRUSSELS (Reuters) – Ukraine is ready to use military force to defend itself if Russia further expands its presence on Ukrainian soil, Prime Minister Arseny Yatseniuk said on Thursday, emphasizing that Ukraine would not be made subordinate to its neighbor.

Speaking at a news conference after meeting European Union leaders in Brussels, Yatseniuk said Crimea was and would remain an integral part of Ukraine and dismissed a decision by Crimea’s parliament to join up with Russia.

    • 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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