STRASBOURG, April 15 (Reuters) – European lawmakers finally
signed off on Tuesday on new laws to make it easier to shut
problem banks after long wrangling over rules for an industry
blamed for triggering the worst economic slump in a generation.
The vote in the European Parliament, shortly before it
breaks up for May elections, gives the final stamp of approval
for an agency to shut weak lenders in the euro zone, the last in
a line of major reforms to create a banking union for the 18
countries sharing the euro.
ATHENS, April 2 (Reuters) – The falling price of living in
Athens presented the unmistakable spectre of deflation to
European Central Bank President Mario Draghi during his visit to
the Greek capital this week yet there is little he will do to
heal this pain.
Whatever course of action the ECB opts for to bolster the
euro zone’s economy, it will take a long time before it trickles
down in to Greece, where the prices of everyday purchases from
traditional souvlaki meals to frappé coffees have dived.
ATHENS, April 1 (Reuters) – The economic crisis in Europe
has put 6 million people out of work and driven others into
poverty, according to a think-tank study looking into the social
impact of the slump that was examined by EU finance ministers
for the first time on Tuesday.
As host, Greece, the first euro zone country to be bailed
out during the crisis, put it on the agenda of the regular
meeting of EU finance ministers that has more usually focused on
appeasing financial markets with tough spending reforms.
ATHENS (Reuters) – The European Central Bank and euro zone finance ministers said they did not see a clear risk of deflation despite a sharp slowdown in price rises, but a longer period of low inflation could be a drag on the economy.
Euro zone inflation has been stuck in what the European Central Bank calls the “danger zone” below 1 percent since October, and it dropped further in March to its lowest level in more than four years, hitting 0.5 percent year-on-year.
LONDON/ BRUSSELS, March 26 (Reuters) – The European Union
will loosen rules on selling securitised debt, the bloc’s
regulatory chief said on Thursday, giving a second chance to
products that triggered the worst financial crisis in a
The capital rules that make it expensive for banks and
insurers to create and buy such debt will be eased, said Michel
Barnier, the European Commissioner in charge of regulation,
dismissing any threat that such concessions would risk another
FRANKFURT (Reuters) – The European Central Bank could buy loans and other assets from banks to help support the euro zone economy, Germany’s Bundesbank said, marking a radical softening of its stance on the contested policy.
The ECB has cut interest rates to a record low and promised to keep them low for some time, having also flooded the banking system with cheap crisis loans. But the euro zone economy is still weak and inflation remains stuck well below the central bank’s target.
FRANKFURT (Reuters) – The European Central Bank could buy loans and other assets from banks to help support the euro zone economy, Germany’s Bundesbank has said, marking a radical softening of its stance on the contested policy.
The ECB has cut interest rates to a record low and promised to keep them low for some time, having also flooded the banking system with cheap crisis loans. But the euro zone economy is still weak and inflation remains stuck below the ECB’s target.
BRUSSELS (Reuters) – European policymakers agreed on Thursday to complete a banking union with an agency to shut failing euro zone banks, but there will be no joint backstop for a fund to pay the costs of closures.
The breakthrough ends an impasse with the European Parliament, which persuaded euro zone countries to strengthen the scheme. It completes the second pillar of banking union, starting at the end of the year when the European Central Bank takes over as watchdog.
BRUSSELS, March 20 (Reuters) – European policymakers agreed
on Thursday to complete a banking union with an agency to shut
failing euro zone banks but there will be no euro zone backstop
for the new fund to help cover the costs of such closures.
All-night talks ended a stand-off between the European
Parliament and euro zone countries over the new scheme,
completing the second leg of banking union that is due to start
this year when the European Central Bank takes over as watchdog.
BRUSSELS (Reuters) – The European Union’s executive pledged on Wednesday to improve access to clean water across the region, responding to a 1.9-million-strong petition from citizens demanding recognition of their right to water.
The “Citizens’ Initiative” is the first time ordinary Europeans have been able to influence legislation and provides a rare glimpse as to what many people expect of Brussels as the region prepares for EU elections.