BRUSSELS (Reuters) – European Union countries edged slowly towards agreeing a scheme to shut failing banks on Tuesday, although a final deal on wider reform to prevent a repeat financial crisis may not be reached until next week.
After a financial storm that toppled banks and dragged down states from Ireland to Spain, the question of what to do when a bank fails remains unanswered.
BRUSSELS (Reuters) – European ministers make a fresh attempt next week to agree a blueprint to close failing banks but progress is uncertain as the fundamental questions of who gets the power to close a bank and how to pay the bill remain open.
As the dust settles from a financial storm that toppled banks and dragged down states from Ireland to Spain, the question of what to do when a bank fails remains controversial.
BRUSSELS (Reuters) – International inspectors from the EU and IMF have called off a planned visit to Greece next week, officials told Reuters on Friday, a move that marks a new low in relations between the parties and could delay aid payments to Athens.
The decision to postpone the visit may be an attempt by the European Central Bank, European Commission and International Monetary Fund – together known as the ‘troika’ – to bring Athens to heel as frustration grows over Greece’s failure to complete the reforms it has promised in return for aid.
BRUSSELS (Reuters) – The first fall in euro zone unemployment in almost three years coupled with rising prices gave fresh momentum to an economic recovery, but a growing rift between the bloc’s haves and have-nots continued to widen.
The improvement is a welcome sign that the euro zone’s rebound is picking up steam, more than five years after a financial crisis erupted that forced five countries, from Cyprus to Spain, to seek emergency aid from their neighbors.
BRUSSELS (Reuters) – Europe’s highest court struck down EU sanctions against an Iranian power company on Thursday, the latest legal ruling against measures that the European Union has imposed over Iran’s nuclear program.
While sanctions are set to be relaxed under a deal last week in which Tehran promised to limit parts of its nuclear work, the EU is still keen to have the option to impose trade restrictions in the future should Iran waver.
BRUSSELS (Reuters) – The euro zone’s future bank supervisor on Wednesday promised a warts-and-all probe into the bloc’s still fragile financial system, conceding that she and other supervisors had made mistakes in the past.
Seeking the backing of the European Parliament to become the supervisor for euro zone banks, Daniele Nouy listed sovereign debt among the banks’ potentially riskiest assets as she laid down her ambitions for testing the health of lenders.
BRUSSELS (Reuters) – The European Union backed down on Wednesday from threats to suspend agreements granting the United States access to European data, rejecting calls for a tougher stance over alleged U.S. spying.
The move marks an abrupt about-turn for the European Commission, the EU executive, after warnings it issued in July to U.S. officials following revelations that Washington had spied on European citizens and EU institutions.
BRUSSELS (Reuters) – The European Commission called on Tuesday for new protection for Europeans under United States’ law against misuse of personal data, in an attempt to keep in check the U.S. surveillance revealed by former NSA contractor Edward Snowden.
EU justice commissioner Viviane Reding said she wanted Washington to follow through on its promise to give all EU citizens the right to sue in the United States if their data is misused. “I have … made clear that Europe expects to see the necessary legislative change in the U.S. sooner rather than later, and in any case before summer 2014,” she said.
BRUSSELS, Nov 20 (Reuters) – European Union lawmakers have
backed rules that would give women preference for non-executive
posts at companies, after plans for a mandatory quota to get
women into top jobs were scrapped.
The rules demand that companies give non-executive
directorships to women, where there is no male candidate who is
better qualified, until they reach a target of four in ten.
BRUSSELS (Reuters) – European countries pledged on Friday to stand by banks found to be struggling after health checks next year as Germany pushed for investors to bear the brunt of repairing lenders to spare the use of euro zone funds.
In a statement designed to underscore Europe’s readiness to act following the checks, ministers spelt out how they would have funds in place to help, overcoming German objections to eventually allow euro zone funds be used as a last resort.