Correspondent, Brussels
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Jun 25, 2015

Exclusive: Bundesbank chief warns peers over funding for Greek banks – source

FRANKFURT (Reuters) – The head of the Bundesbank expressed serious concern about providing continued emergency funding to Greek banks in talks with his peers this week, a person familiar with the discussion said, as opposition grows to granting Athens a lifeline.

Jens Weidmann has warned against the use of such emergency credit to prop up Greece’s banks ever since those lenders started to rely on it in February, but his latest protest is significant because of its timing.

Jun 25, 2015

Bundesbank chief warns peers over funding for Greek banks – source

FRANKFURT, June 25 (Reuters) – The head of the Bundesbank
expressed serious concern about providing continued emergency
funding to Greek banks in talks with his peers this week, a
person familiar with the discussion said, as opposition grows to
granting Athens a lifeline.

Jens Weidmann has warned against the use of such emergency
credit to prop up Greece’s banks ever since those lenders
started to rely on it in February, but his latest protest is
significant because of its timing.

Jun 16, 2015

Top European court throws weight behind ECB in fighting crises

LUXEMBOURG/FRANKFURT (Reuters) – The European Central Bank won crucial backing from Europe’s top court on Tuesday for its pledge to do whatever it takes to save the euro, defeating a German group’s challenge as bloc member Greece edges dangerously close to default.

A favorable ruling had been widely expected but the European Court of Justice’s judgment is a firm endorsement for the ECB, granting it leeway to take dramatic action in an emergency, albeit with some general conditions.

Jun 16, 2015

Top European court rules ECB bond-buying plan in line with EU law

LUXEMBOURG (Reuters) – A European Central Bank bond-buying plan crafted at the height of the euro zone crisis is in line with European law, judges from the European Court of Justice ruled on Tuesday, throwing their weight behind the ECB and rebuffing a German challenge.

The European Union’s top court was responding to legal action by a 35,000-strong group of sceptics from Germany including politicians and academics, who had sought to dismantle the bond-buying scheme created in 2012, but never used.

Jun 15, 2015

European court set to back ECB in fighting euro zone crises

LUXEMBOURG, June 16 (Reuters) – The European Central Bank is
likely to win backing from Europe’s top court on Tuesday for its
vow to do whatever it takes to save the euro, rebuffing a German
group’s challenge as the currency zone faces a new financial
crisis over weakest member Greece.

If judges follow the ECB-friendly opinion of a court adviser
earlier this year, the ruling would be a setback to a group of
Germans who had challenged the ECB over a bond-buying scheme
crafted at the height of the 2012 crisis but yet to be used.

Jun 12, 2015

Fearful ECB starts countdown on Greek funding lifeline

FRANKFURT, June 12 (Reuters) – Fearful that one of euro
zone’s members could drop out of the bloc, the European Central
Bank is set to keep Greece on a funding drip until the end of
the month but a default will leave it little choice but to start
turning off life support.

As political negotiations to release euro zone loans for
Athens descend into chaos, it has fallen to the ECB to keep
Greece afloat, by allowing the country and its lenders run up an
ever higher overdraft with the euro zone.

Jun 11, 2015

ECB’s Draghi defends private meetings after criticism of hedge-fund dinner

FRANKFURT, June 11 (Reuters) – The head of the European
Central Bank has defended a private discussion about money
printing plans with a group of hedge funds, saying closed-door
meetings with special audiences helped the ECB do its job.

Last month, the EU’s top watchdog or Ombudsman challenged
the ECB over discussing sensitive plans for money printing with
a group of hedge funds, giving them a headstart over investors
who only found out the following day.

Jun 3, 2015

ECB to focus on roll out of QE as Greece deadline looms

FRANKFURT, June 3 (Reuters) – European Central Bank
President Mario Draghi is set to reaffirm his commitment to
quantitative easing and may call on Greece to finally agree a
fresh aid deal with its creditors after the ECB left interest
rates on hold as expected on Wednesday.

The euro zone’s central bank is likely to raise its
inflation forecast at a 1230 GMT news conference and say its
trillion-euro-plus asset buying programme is already paying off.

Jun 3, 2015

ECB to press case for steady QE, may urge Greece to accept deal

FRANKFURT (Reuters) – The European Central Bank is set to raise its inflation forecast on Wednesday, saying that its trillion-euro-plus asset buying program is already paying off, and may urge Greece to accept a new deal from its creditors to access fresh aid.

In what could be the bank’s least eventful meeting in months, the ECB is set to keep rates on hold, confirm its growth forecasts, make the case for a steady pace in quantitative easing and discuss Greece only briefly, leaving most of the talking to Brussels.

Jun 3, 2015

ECB to press case for steady quantitative easing, may urge Greece to accept deal

FRANKFURT (Reuters) – The European Central Bank is set to raise its inflation forecast on Wednesday, saying that its trillion-euro-plus asset buying programme is already paying off, and may urge Greece to accept a new deal from its creditors to access fresh aid.

In what could be the bank’s least eventful meeting in months, the ECB is set to keep rates on hold, confirm its growth forecasts, make the case for a steady pace in quantitative easing and discuss Greece only briefly, leaving most of the talking to Brussels.

    • 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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