Correspondent, Brussels
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May 25, 2015

Portugal, like Europe, loses hunger for reform

SINTRA, Portugal (Reuters) – Celebrated among Europe’s elite as a model of how to reform an economy after a debt binge, Portugal’s enthusiasm for change has waned as Europe loses its appetite for further belt-tightening.

With Greece’s future in the euro uncertain, after its leftist government all but tore up a reform-for-aid deal, Europe’s policy setters are putting an extra shine on other countries that were bailed out – in part to avoid a spillover.

May 25, 2015

Analysis – Portugal, like Europe, loses hunger for reform

SINTRA, Portugal (Reuters) – Celebrated among Europe’s elite as a model of how to reform an economy after a debt binge, Portugal’s enthusiasm for change has waned as Europe loses its appetite for further belt-tightening.

With Greece’s future in the euro uncertain, after its leftist government all but tore up a reform-for-aid deal, Europe’s policy setters are putting an extra shine on other countries that were bailed out – in part to avoid a spillover.

May 23, 2015

ECB’s Draghi warns divergence a threat to euro

SINTRA, Portugal, May 23 (Reuters) – Stark structural
differences between countries in the euro zone could unravel the
currency union, European Central Bank President Mario Draghi
warned on Saturday.

Draghi’s blunt remarks address the widening rift between
countries such as Germany, which seeks to balance its spending
against income, and heavily-indebted Greece, which resists
economic reform.

May 22, 2015

ECB’s Draghi urges Europe to reform to brighten dim prospects

SINTRA, Portugal (Reuters) – The president of the European Central Bank called on euro zone countries to reform their economies, warning that future growth, in the face of entrenched unemployment and low investment, will be modest.

Although not the first time Mario Draghi has made such an appeal, his comprehensive argument in favour of reform underscores concerns that governments may be wasting the time that ECB money-printing has bought them.

May 22, 2015

ECB’s Draghi calls for reform, points to Europe’s modest prospects

SINTRA, Portugal (Reuters) – The president of the European Central Bank reiterated his call on Friday for euro zone countries to reform their economies, warning that future growth would remain modest.

Easy financing should not stop reform, he said.

“It should … be clear that the argument that accommodative monetary policy constitutes an excuse for governments and parliaments to postpone their reform efforts is incorrect,” Mario Draghi said.

May 20, 2015

ECB under fire over market-sensitive closed-door speech

LONDON/FRANKFURT (Reuters) – The European Central Bank is under fire after one of its policymakers gave market sensitive information to an invitation-only conference attended by hedge fund managers, a day before his speech was publicly released.

Politicians and market participants criticised the ECB over the speech by board member Benoit Coeure, in which he said the central bank would accelerate bond buying under a programme aimed at averting deflation and helping to revive the euro zone economy.

May 8, 2015

ECB officials say bond-buying helping to revive inflation

LONDON/VIENNA (Reuters) – The European Central Bank’s bond-buying program is helping to revive inflation in the euro zone without drying up liquidity in the debt market, top ECB officials said on Friday.

The euro zone ended a four-month run of deflation in April as consumer prices held steady compared with a year earlier.

May 7, 2015

With funding deal elusive, Greece rides into storm

FRANKFURT, May 7 (Reuters) – With a deal to resurrect its
aid-for-reform programme elusive, Greece risks running out of
money in the coming weeks, raising the prospect of default and
capital controls to contain a run on its banks.

Officials in Athens are optimistic that the European Central
Bank will give it extra financial breathing space but unless
euro zone ministers reach a firm agreement to release further
loans such a move seems highly unlikely, people familiar with
the matter said.

May 6, 2015

European lenders dash Greek hopes for quick aid deal

ATHENS/FRANKFURT, May 6 (Reuters) – European lenders on
Wednesday dashed Greece’s hopes for a quick cash-for-reforms
deal in the coming days, leaving Athens in an increasingly
desperate financial position ahead of a major debt payment next
week.

Talks between the two sides have dragged on for months
without a breakthrough and EU officials say Greece’s leftist
government has failed to produce enough concessions for a deal
at next Monday’s meeting of euro zone finance ministers.

May 6, 2015

Greece makes IMF payment but hopes of quick deal dashed

ATHENS/FRANKFURT, May 6 (Reuters) – Greece made a small
interest payment to the International Monetary Fund on Wednesday
but European lenders dashed hopes for a cash-for-reforms deal
before a more crucial, bigger instalment Athens must pay next
week.

Leftist Prime Minister Alexis Tsipras’ government sought to
shift blame on Tuesday onto the euro zone and IMF for a lack of
agreement in the three-month-old negotiations, charging that
each was setting different “red lines” on multiple issues from
pension and labour reforms to the primary budget surplus.

    • About John

      "I am a Reuters correspondent in Brussels, writing about the European Union. I moved here last year from Germany, where I had reported about the financial crisis, turning up numerous scoops and even winning a prestigious business reporting award. Beforehand, I worked with The Sunday Times in London."
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