BRUSSELS (Reuters) – Germany is set to accelerate away from France and Italy in 2014 as the fragmented euro zone gradually recovers from its worst crisis, the European Commission said on Tuesday.
In a departure from the gloom of the crisis years, Brussels slightly increased its growth prediction for the bloc’s 9-trillion-euro economy to 1.2 percent in 2014 from an earlier 1.1 percent forecast.
BRUSSELS, Feb 24 (Reuters) – At the entrance to Belgium’s
Museum for Central Africa stands a giant golden statue of a
European missionary with an African boy clutching his robes,
along with a plaque that reads: “Belgium brings civilisation to
The statue and some of the exhibits inside anger many
visitors for the way they portray African people and Belgium’s
brutal colonial past.
BRUSSELS (Reuters) – Michel Barnier, who led an unprecedented overhaul of European banks after the financial crisis, has declared his reform drive complete and pledged less red tape if he wins the post of European Commission president.
Barnier, the European Union’s financial services chief, has introduced as many as 28 different laws to make banks less risky, from caps on bankers’ bonuses to minimum capital cushions against high-risk loans.
BRUSSELS, Feb 18 (Reuters) – Ambitious proposals for a
pan-European financial transaction tax look almost certain to be
scaled back after Germany’s finance minister acknowledged that
the levy could be phased in slowly, starting with share trades.
The tax failed to gain widespread support when it was
proposed during the euro zone debt crisis but eventually won the
backing of an uneasy coalition of 11 states, led by Germany and
BRUSSELS, Feb 18 (Reuters) – The European Union is
considering ways to ensure that a future euro zone fund to
finance bank closures will always have enough cash, including
the option of halving the time in which the fund would reach its
full size to five years.
Under a deal reached by euro zone governments last December,
the fund, financed by banks, is to reach 55 billion euros over
10 years as euro zone banks pay in 5.5 billion euros annually.
BRUSSELS (Reuters) – London’s financial services centre would lose access to the wider European Union should Britain quit the bloc, the EU’s justice chief said on Monday, warning that such a move would reduce its status to that of an offshore centre.
Viviane Reding’s blunt comments come amid a heated debate in Britain over its future in the 28-country European Union and will reinforce fears in the City of London that a departure from the EU will hurt its position as a global financial capital.
BRUSSELS, Feb 17 (Reuters) – London’s financial services
centre would lose access to the wider European Union should
Britain quit the bloc, the EU’s justice chief said on Monday,
warning that such a move would reduce its status to that of an
Viviane Reding’s blunt comments come amid a heated debate in
Britain over its future in the 28-country European Union and
will reinforce fears in the City of London that a departure from
the EU will hurt its position as a global financial capital.
BRUSSELS, Feb 12 (Reuters) – The European Commission called
on Wednesday for a dilution of U.S. influence over the
organisation of the Internet, a sign of tension following
snooping exposed by former U.S. spy agency contractor Edward
The European Union’s executive arm stopped short of
demanding greater government control as some countries like
China and Russia have pushed for.
LONDON/BRUSSELS (Reuters) – The European Commission has asked the Bank of England to explain how new allowances in British bankers’ pay comply with an EU bonus cap, an official at the bloc’s executive said, a new flashpoint of friction over the reach of financial control.
Under EU rules, from 2015 bonuses cannot be more than fixed salary, or double this amount with shareholder approval, and most of the bankers affected are based in London.
BRUSSELS (Reuters) – Corruption costs Europe 120 billion euros a year, or around one percent of economic output, according to the first ever report on graft in the 28-nation European Union by the executive European Commission.
The report published on Monday places the EU, often portrayed as one of the globe’s cleanest regions, in an unflattering light.