Correspondent, Brussels
John's Feed
Feb 4, 2015

Greece seeks ECB bridging funds, vows to respect EU rules

FRANKFURT/BRUSSELS (Reuters) – Greece’s new leftist government appealed to the European Central Bank on Wednesday to keep its banks afloat and vowed to respect European Union rules as it seeks a negotiated solution with euro zone partners to reduce its debt burden.

Finance Minister Yanis Varoufakis said after meeting ECB President Mario Draghi in Frankfurt he believed Athens could count on central bank support during the short period it would take to conclude talks with international lenders.

Jan 30, 2015

European investment fund set for September start

FRANKFURT (Reuters) – A fund to bolster investment in Europe should be up and running by September, an EU official said on Friday, outlining the timetable for a highly leveraged scheme to bolster growth in a moribund EU economy.

The European Fund for Strategic Investments, which can invest in projects from infrastructure building to expansion of small businesses, is the European Union’s flagship scheme to help address slack growth.

Jan 29, 2015

ECB warns banks to keep dividends tight

FRANKFURT, Jan 29 (Reuters) – The European Central Bank
warned banks across the euro zone to curb payouts to
shareholders, also pledging to probe how much they are paying in
bonuses as the rest of the bloc’s economy suffers.

In its boldest public order to the industry since health
checks last year uncovered problems chiefly in Italy, the
European Central Bank said banks should be setting aside more
money for rainy days ahead.

Jan 23, 2015

ECB’s trillion-euro move offers short-term boost, but at a cost

FRANKFURT, Jan 23 (Reuters) – ECB chief Mario Draghi’s 1
trillion euros of fresh money could prove the masterstroke that
saves the euro zone for now, but it breaks the principle that
the bloc acts as one, a move that could ultimately undermine the
currency he is trying to save.

In monthly 60 billion-euro instalments from March, the
European Central Bank will buy chiefly government debt at least
until September of next year, or as long as is needed to revive
inflation, which recently swung into reverse.

Jan 22, 2015

ECB launches last-ditch programme to revive euro economy

FRANKFURT (Reuters) – The European Central Bank took the ultimate policy leap on Thursday, launching a government bond-buying programme which will pump hundreds of billions of new money into a sagging euro zone economy.

The ECB said it would buy government bonds from this March until the end of September 2016 despite opposition from Germany’s Bundesbank and concerns in Berlin that it could allow spendthrift countries to slacken economic reforms.

Jan 22, 2015

ECB to decide on bond-buying plan to revive euro zone

FRANKFURT, Jan 22 (Reuters) – The European Central Bank is
poised to announce a plan on Thursday to buy government bonds,
resorting to its last big policy option for breathing life into
the flagging euro zone economy.

Market expectations are sky-high for the ECB to unveil
large-scale quantitative easing (QE) – printing money to buy
government bonds – despite opposition from Germany’s Bundesbank
and concerns in Berlin that this could allow spendthrift
countries to slacken economic reforms.

Jan 21, 2015

ECB to decide on bond-buying plan for reviving euro zone economy

FRANKFURT (Reuters) – The European Central Bank is poised to announce a plan on Thursday to buy government bonds, resorting to its last big policy tool for breathing life into the flagging euro zone economy and fending off deflation.

Market expectations are sky-high for the ECB to unveil a large-scale program of quantitative easing (QE) – printing money to purchase the sovereign bonds – despite opposition from Germany’s Bundesbank and concerns in Berlin that this could allow spendthrift countries to slacken their economic reforms.

Jan 21, 2015

Bank of Canada delivers shock rate cut as ECB gears up for quantitative easing

OTTAWA/FRANKFURT (Reuters) – The Bank of Canada joined the list of “unpredictable” central banks on Wednesday with a shock quarter point rate cut as the European Central Bank prepared a 600 billion euro ($695 billion) bond-buying program aimed at lifting Europe out of its economic doldrums.

The Canadian move came in response to a sharp drop in oil prices that hit the commodity-dependent economy, expected to grow by just 1.5 percent in the first half of this year compared with the central bank’s previous forecast of 2.4 percent.

Jan 21, 2015

Bank of Canada delivers shock rate cut as ECB gears up for QE

OTTAWA/FRANKFURT, Jan 21 (Reuters) – The Bank of Canada
joined the list of “unpredictable” central banks on Wednesday
with a shock quarter point rate cut as the European Central Bank
prepared a 600 billion euro ($695 billion) bond-buying program
aimed at lifting Europe out of its economic doldrums.

The Canadian move came in response to a sharp drop in oil
prices that hit the commodity-dependent economy, expected to
grow by just 1.5 percent in the first half of this year compared
with the central bank’s previous forecast of 2.4 percent.

Jan 21, 2015

ECB set to decide on money printing plan

FRANKFURT (Reuters) – The European Central Bank’s Executive Board has proposed a program that would enable the ECB to buy 50 billion euros ($58 billion) in bonds per month starting in March, a euro zone source said on Wednesday.

With the likely start date imminent and only one other opportunity at the beginning of March for governors to agree details, pressure will be high on them to finalize talks and announce the mechanics on Thursday.

    • 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."
    • More from John

    • Contact John

    • Follow John