Correspondent, Brussels
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Mar 31, 2015

How Grexit bill could dig deep into ECB pockets

FRANKFURT, March 31 (Reuters) – A Greek departure from the
euro could expose the European Central Bank to losses on tens of
billions of credit, a hole Germany and other euro members may
have to fill.

As political wrangling with Athens freezes the country’s
access to loans from euro zone states, Greece has been drawing
heavily on the ECB, running up an ever larger tab.

Mar 19, 2015

Banks load up on cheap ECB loans in positive sign for economy

FRANKFURT, March 19 (Reuters) – Banks took more than twice
the expected amount of long-term loans from the European Central
Bank on Thursday, loading up on the cheap credit in a fresh sign
that a nascent euro zone recovery is spurring lending.

Banks took 97.8 billion euros ($104.50 billion) in the
so-called TLTROs, which are tied to lending to the mostly
smaller firms that are the euro zone’s economic backbone. A
Reuters poll had pointed to take-up of 40 billion euros.

Mar 18, 2015

Protesters, police clash near new European bank HQ in Frankfurt

FRANKFURT, March 18 (Reuters) – Anti-capitalist protesters
clashed with riot police near the new headquarters of the
European Central Bank (ECB) in Frankfurt on Wednesday and set
fire to barricades and cars, casting a pall over the ceremonial
opening of the billion-euro skyscraper.

Nearly 90 police were injured by stones and unidentified
liquids hurled by a violent minority from within the
thousands-strong protest, police said. Some protesters said they
were injured when police used pepper spray.

Mar 18, 2015

Protesters clash with police near new European bank HQ in Frankfurt

FRANKFURT (Reuters) – Thousands of anti-capitalist protesters clashed with riot police near the new headquarters of the European Central Bank (ECB) in Frankfurt on Wednesday, hours before the ceremonial opening of the 1.3-billion-euro ($1.4-billion) building.

Several cars were set on fire and streets were blocked by burning stacks of tires and rubbish bins. At least one police officer was injured, police said.

Mar 11, 2015

Cyprus seeks distance from Greek euro drama

NICOSIA, March 11 (Reuters) – Doubts over Greece’s future
membership of the euro are straining its historic kinship with
Cyprus, as Nicosia distances itself from Athens to try to secure
its foothold in the currency bloc.

Cyprus wants to reverse a perception that the two countries
are inextricably linked, worried that it could be dragged down
with Greece, should Athens’ finances collapse and force the
Greeks to abandon the euro.

Mar 11, 2015

Draghi: ECB action shields euro zone states from Greek contagion

FRANKFURT, March 11 (Reuters) – European Central Bank buying
of government and other debt may be shielding countries in the
euro zone from any knock-on effect from events in Greece, ECB
President Mario Draghi said on Wednesday.

The ECB began a policy of printing money to buy sovereign
bonds, or quantitative easing, on Monday with a view to
supporting growth and lifting euro zone inflation from below
zero up towards its target of just under 2 percent.

Mar 5, 2015

Bailed-out Cyprus eyes return to normal borrowing this year

NICOSIA, March 5 (Reuters) – Cyprus hopes to borrow on
financial markets this year, its finance minister told Reuters
on Thursday, saying the island’s economy had more in common with
bailout turnaround Ireland than Greece.

Harris Georgiades said Ireland, which reformed after near
bankruptcy, was a role model as Cyprus climbs out of recession
and prepares to borrow on markets ahead of the end of its
reform-for-aid programme in the middle of next year.

Mar 5, 2015

Upbeat ECB ready to start printing money next week

NICOSIA/FRANKFURT, March 5 (Reuters) – The European Central
Bank said it will start printing money to buy bonds next Monday
and delivered a robust economic outlook that will make it hard
to extend the plan beyond its envisaged Sept. 2016 end-date.

The ECB is embarking on the programme of quantitative easing
(QE) with a view to raising euro zone inflation from below zero
back towards its goal of just under 2 percent, and to helping
buoy economies across the 19-country bloc.

Mar 5, 2015

Draghi ties ECB’s Greek funding to bailout compliance

NICOSIA/ATHENS (Reuters) – The European Central Bank will resume normal lending to Greek banks only when it sees Athens is complying with its bailout program and is on track to receive a favorable review, ECB President Mario Draghi said on Thursday.

He also made clear the euro zone bank would not raise a limit on Athens’ issuance of short-term debt to help leftist Prime Minister Alexis Tsipras avert a funding crunch, since the EU treaty barred monetary financing of governments.

Mar 5, 2015

ECB to raise growth forecasts, flesh out bond-buying plan

NICOSIA/FRANKFURT, March 5 (Reuters) – Keen to keep a low
profile over the Greek crisis, the European Central Bank will
focus on improved growth prospects on Thursday and unveil some
but not all the details of its 1 trillion euros-plus bond buying

The ECB, meeting in Cyprus, will keep rates on hold and
probably lift growth forecasts to reflect a string of positive
data surprises, But it could cut inflation projections as it
incorporates the full effect of a dramatic oil price fall,
backing its case to buy 60 billion euros worth of bonds a month
from March to spur inflation.

    • 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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