Correspondent, Brussels
John's Feed
May 6, 2015

European lenders dash Greek hopes for quick aid deal

ATHENS/FRANKFURT, May 6 (Reuters) – European lenders on
Wednesday dashed Greece’s hopes for a quick cash-for-reforms
deal in the coming days, leaving Athens in an increasingly
desperate financial position ahead of a major debt payment next
week.

Talks between the two sides have dragged on for months
without a breakthrough and EU officials say Greece’s leftist
government has failed to produce enough concessions for a deal
at next Monday’s meeting of euro zone finance ministers.

May 6, 2015

Greece makes IMF payment but hopes of quick deal dashed

ATHENS/FRANKFURT, May 6 (Reuters) – Greece made a small
interest payment to the International Monetary Fund on Wednesday
but European lenders dashed hopes for a cash-for-reforms deal
before a more crucial, bigger instalment Athens must pay next
week.

Leftist Prime Minister Alexis Tsipras’ government sought to
shift blame on Tuesday onto the euro zone and IMF for a lack of
agreement in the three-month-old negotiations, charging that
each was setting different “red lines” on multiple issues from
pension and labour reforms to the primary budget surplus.

May 5, 2015

Greece seeks breathing room from ECB chief Draghi

FRANKFURT, May 5 (Reuters) – Greek Deputy Prime Minister
Yannis Dragasakis meets European Central Bank President Mario
Draghi on Tuesday, as his government seeks financial breathing
room to prevent a default and stay in the euro.

Talks between Greece’s leftist government and its
international lenders are stumbling over disputes about pension
and labour reforms as the country edges towards a debt repayment
deadline to the IMF it will struggle to meet.

Apr 29, 2015

Euro zone lending grows after three years in the red

FRANKFURT (Reuters) – Lending in the euro zone increased for the first time in three years, the European Central Bank said on Wednesday, marking a new chapter in the bloc’s recovery after the launch of a massive money-printing program.

Lending across the 19 countries in the currency union rose by 0.1 percent on the year in March, giving hope that Europe, whose economy has trailed that of the United States, may finally be turning the corner.

Apr 28, 2015

Cyprus Central bank head says ready to act if Greece spills over

FRANKFURT/NICOSIA, April 28 (Reuters) – Cyprus is ready to
react to any spillover from the crisis in Greece, the governor
of the island’s central bank said on Tuesday, adding the two
countries were decoupling in the eyes of international markets.

Chrystalla Georghadji’s written remarks, sent on Tuesday in
response to questions from Reuters, underline concerns among
Cypriot policymakers amid heightened uncertainty over Greece’s
future in the euro zone.

Apr 20, 2015

ECB’s Constancio says convinced Greece will not leave euro zone

FRANKFURT, April 20 (Reuters) – The European Central Bank
cannot promise to fund Greece and its banks regardless of the
circumstances but is convinced it won’t leave the euro zone,
European Central Bank Vice President Vitor Constancio said on
Monday.

Constancio also said that a default by a euro state has no
automatic impact for the nation’s banks.

Apr 17, 2015

Exclusive: ECB examines possibility of Greek IOU currency in case of default – sources

FRANKFURT (Reuters) – The European Central Bank has analyzed a scenario in which Greece runs out of money and starts paying civil servants with IOUs, creating a virtual second currency within the euro bloc, people with knowledge of the exercise told Reuters.

Greece is close to having to repay the International Monetary Fund about 1 billion euros in May and officials at the ECB are growing concerned.

Apr 17, 2015

ECB examines possibility of Greek IOU currency in case of default – sources

FRANKFURT, April 17 (Reuters) – The European Central Bank
has analysed a scenario in which Greece runs out of money and
starts paying civil servants with IOUs, creating a virtual
second currency within the euro bloc, people with knowledge of
the exercise told Reuters.

Greece is close to having to repay the International
Monetary Fund about 1 billion euros in May and officials at the
ECB are growing concerned.

Apr 16, 2015

ECB survey of experts paints brighter euro zone outlook

FRANKFURT (Reuters) – Economists and other experts surveyed by the European Central Bank pared back their predictions on Thursday for inflation to just above zero for this year as oil prices stay low, but expect it will pick up strongly in 2016 and beyond thanks to fresh money printing.

The closely watched Survey of Professional Forecasters upgraded forecasts for economic growth in the coming three years, although economists see only a modest improvement in unemployment in the years to 2017.

Apr 15, 2015

ECB committed to full QE programme, sees stronger recovery

FRANKFURT (Reuters) – The European Central Bank has no plans to curb or curtail its money-printing programme although it expects euro zone economic recovery to broaden and strengthen.

Last month the ECB embarked on an asset-buying programme with 60 billion euros (£43.17 billion) a month of news money, which it has said will last until at least September 2016.

    • 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