LUXEMBOURG, Oct 14 (Reuters) – The euro zone debated on
Monday how to prop up banks likely to be declared unstable next
year, but France’s blunt criticism of Germany before the meeting
laid bare the tensions surrounding the far-reaching financial
Bank health checks by the European Central Bank are a
critical step in establishing a single banking framework for the
euro zone, giving credibility to ECB supervision and paving the
way for the bloc to cooperate on saving bust banks.
LUXEMBOURG (Reuters) – Euro zone countries will consider on Monday how to pay for the repair of their broken banks after health checks next year that are expected to uncover problems that have festered since the financial crisis.
Nobody knows the true scale of potential losses at Europe’s banks, but the International Monetary Fund hinted at the enormity of the problem this month, saying that Spanish and Italian banks face 230 billion euros ($310 billion) of losses alone on credit to companies in the next two years.
LONDON/BRUSSELS, Oct 8 (Reuters) – European Union lawyers
have raised concerns about proposals for banking union, warning
that plans aimed at drawing a line under years of financial
crisis could fall foul of EU law.
In an opinion issued this week and seen by Reuters, the
legal service of the European Council said EU law would only
allow limited powers to be given to an agency to close or
salvage troubled banks, potentially undermining a central
element of the scheme.
LONDON/ BRUSSELS (Reuters) – Parts of Europe’s proposals for a banking union may fall foul of European Union law, lawyers have said in a fresh setback to plans aimed at strengthening the financial system after the debt crisis.
The opinion from the European Council’s legal service is a blow to efforts to break the link between indebted European countries and their banks via the creation of a banking union that would jointly deal with stressed lenders.
BRUSSELS, Oct 6 (Reuters) – Aqua or water? These words mean
the same thing, and yet illustrate a divide that European and
U.S. negotiators must bridge in free-trade talks to integrate
half the global economy.
From fragrances to finance, creating common rules is vital
for reaching a deal between the European Union and United States
that officials say can boost economic output by more than $100
billion a year on each side of the Atlantic.
BRUSSELS (Reuters) – Even before the cancelation of the latest round of EU-U.S. talks, negotiations to create the world’s largest free-trade deal were getting into difficulty territory.
France won a concession to leave European movies and entertainment out of the pact, to shield them from Hollywood and Silicon Valley, raising concerns Washington may pursue opt-outs for its shipping industry on security grounds.
BRUSSELS, Oct 6 (Reuters) – Even before the cancellation of
the latest round of EU-U.S. talks, negotiations to create the
world’s largest free-trade deal were getting into difficulty
France won a concession to leave European movies and
entertainment out of the pact, to shield them from Hollywood and
Silicon Valley, raising concerns Washington may pursue opt-outs
for its shipping industry on security grounds.
BRUSSELS (Reuters) – The European Commission will review EU laws and be careful when writing new ones, the EU’s executive said on Wednesday, in an effort to answer intensifying criticism of what many in member states see as overregulation by Brussels.
In countries such as Britain critics have pilloried the Commission for European Union rules such as one preventing drinkmakers from claiming that water can treat dehydration.
BRUSSELS/FRANKFURT (Reuters) – The European Central Bank’s (ECB) plan to test the health of the euro zone’s largest lenders without the means to plug any holes it uncovers risks foiling what some see as the bloc’s final chance to put its financial crisis behind it.
Unlike in the United States, where rapid infusions of capital put its banks quickly back on track, Europe’s financial system remains frozen, with lenders in countries such as Greece, Spain and Italy hurt by weak demand and soured loans.
LONDON/BRUSSELS Sept 27 (Reuters) – Britain’s challenge to
European Union rules capping bankers’ bonuses is likely to get
bogged down in court long beyond their implementation, and
critics say it is more about pleasing domestic voters
unimpressed by the loss of powers to Brussels.
The UK, which houses Europe’s biggest financial centre, was
outvoted when the European Union agreed that bonuses must be no
more than a banker’s fixed pay, or twice that amount with