Correspondent, Brussels
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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.

May 29, 2015

Euro zone lending slows to standstill despite money printing

FRANKFURT (Reuters) – Lending throughout the euro zone failed to grow in April after a promising uptick a month earlier, a slip that tempers hopes for a rapid turnaround in borrowing to boost the economy.

European Central Bank data showed on Friday that overall lending growth to households and firms was unchanged in the month, despite the recent launch of a massive money-printing programme to bolster the 19 countries in the euro bloc.

May 28, 2015

European watchdog challenges ECB for telling plans over dinner

FRANKFURT (Reuters) – The EU’s top watchdog has challenged the European Central Bank over privately disclosing sensitive plans for money printing to a group of hedge funds, giving them a headstart over investors who found out only the following day.

Earlier this month, a top ECB official, Benoit Coeure, said at a dinner in London attended by hedge funds, academics and bankers that the central bank would accelerate bond buying in the coming weeks.

May 28, 2015

ECB officials say no to easier funds for Greece now

FRANKFURT, May 28 (Reuters) – European Central Bank
policymakers played down the prospects of any immediate
loosening of funding for cash-strapped Greece, saying that when
it came to accepting the country’s bonds as security for central
bank credit, the answer remained no.

Speaking to journalists in Frankfurt, the ECB’s vice
president underlined the seriousness of the situation facing
Greece, talking openly about a possible default, which would be
the first of its kind in the 16-year-old currency bloc.

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.

    • 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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