BRUSSELS (Reuters) – The European Union edged closer to agreeing a scheme to close failing banks but will leave big gaps in a wider reform that was supposed to unite the euro zone behind its troubled lenders.
More than five years since a financial crisis struck, Europe is crafting its most ambitious reform since the launch of the euro – an agency and fund to shut problem banks as soon as the European Central Bank starts to police them next year.
BRUSSELS (Reuters) – Europe’s banks face a moment of truth next year when health checks will spell out the repairs they need.
The trouble is that fixing them could require cash-strapped governments to borrow more, often from the very banks that need their help.
BRUSSELS, Dec 13 (Reuters) – Europe’s banks face a moment of
truth next year when health checks will spell out the repairs
The trouble is that fixing them could require cash-strapped
governments to borrow more, often from the very banks that need
BRUSSELS (Reuters) – Bondholders and large depositors in a failing European bank face taking losses from the start of 2016, European Union negotiators agreed on Wednesday, in a provisional deal on rules to spare taxpayers from further bailouts.
The law, if approved by EU ministers, will make losses for senior bondholders and large savers a permanent feature of the bloc’s response to banking crises and mark another milestone in the reform of an industry that triggered economic turmoil.
BRUSSELS, Dec 11 (Reuters) – Bondholders and large
depositors in a failing bank could face losses as early as 2016
if Germany succeeds in accelerating tough new European rules to
spare taxpayers from further bailouts.
A day after European Union finance ministers met to try to
build a single banking framework for the euro zone, EU
negotiators and members of the European Parliament were
attempting on Wednesday to set out rules that will also provide
the foundations for the so-called banking union.
BRUSSELS (Reuters) – Euro zone countries edged toward agreeing a plan to tackle ailing banks on Tuesday but divisions remain about key parts of the reform that is needed to underpin confidence in the bloc’s lenders.
After a financial storm that toppled banks and dragged down states from Ireland to Spain, countries are considering a fresh blueprint outlining what to do when a bank fails, a critical second pillar of a wider reform dubbed banking union.
BRUSSELS (Reuters) – European Union countries edged slowly towards agreeing a scheme to shut failing banks on Tuesday, although a final deal on wider reform to prevent a repeat financial crisis may not be reached until next week.
After a financial storm that toppled banks and dragged down states from Ireland to Spain, the question of what to do when a bank fails remains unanswered.
BRUSSELS (Reuters) – European ministers make a fresh attempt next week to agree a blueprint to close failing banks but progress is uncertain as the fundamental questions of who gets the power to close a bank and how to pay the bill remain open.
As the dust settles from a financial storm that toppled banks and dragged down states from Ireland to Spain, the question of what to do when a bank fails remains controversial.
BRUSSELS (Reuters) – International inspectors from the EU and IMF have called off a planned visit to Greece next week, officials told Reuters on Friday, a move that marks a new low in relations between the parties and could delay aid payments to Athens.
The decision to postpone the visit may be an attempt by the European Central Bank, European Commission and International Monetary Fund – together known as the ‘troika’ – to bring Athens to heel as frustration grows over Greece’s failure to complete the reforms it has promised in return for aid.
BRUSSELS (Reuters) – The first fall in euro zone unemployment in almost three years coupled with rising prices gave fresh momentum to an economic recovery, but a growing rift between the bloc’s haves and have-nots continued to widen.
The improvement is a welcome sign that the euro zone’s rebound is picking up steam, more than five years after a financial crisis erupted that forced five countries, from Cyprus to Spain, to seek emergency aid from their neighbors.