BRUSSELS (Reuters) – Credit agency Standard & Poor’s cut its triple-A rating of the European Union by one notch on Friday, saying it had concerns about how the bloc’s budget was financed, a view EU leaders and other officials dismissed as misguided.
S&P’s announcement came the day after the EU reached a deal to overhaul the region’s banking sector, an agreement many commentators said fell short of expectations, although S&P said it had not factored into its credit assessment.
BRUSSELS (Reuters) – Credit agency Standard & Poor’s cut its long-term rating of the European Union by one notch to AA+ on Friday, saying it had concerns about how the bloc’s budget was financed, a view EU leaders and other officials dismissed as misguided.
“In our opinion, the overall creditworthiness of the now 28 European Union member states has declined,” S&P said in a statement that came 11 months after it announced it had a ‘negative’ outlook on the bloc.
BRUSSELS (Reuters) – European leaders face a session of soul-searching and strategy planning over Ukraine at their year-end summit on Friday when they will discuss why Kiev rejected an EU free trade deal and took a bailout from Russia instead.
As well as weighing Ukraine’s decision to turn away and what Europe might have done to prevent it, leaders will debate the message they want to send to swathes of Ukrainians now protesting against President Viktor Yanukovich’s move.
BRUSSELS/DUBLIN (Reuters) – In the beginning, the European Union came up with two words: Banking Union. It sounded simple, solid, united, dependable.
But in the 18 months since the idea was put on paper, the phrase has come to mask a vastly complicated and not yet very united system that may fall short of resolving the problems afflicting Europe’s banks over the past five years.
BRUSSELS (Reuters) – European officials are in discussion with the International Monetary Fund, the World Bank and other major financial institutions on ways to help Ukraine if it decides to sign a free-trade agreement with the European Union.
Ukrainian Prime Minister Mykola Azarov was quoted as saying on Wednesday he had asked the EU for 20 billion euros ($27 billion) in aid to offset the cost of signing the EU deal, which Kiev backed away from last month in favor of closer ties with Russia, sparking huge street protests and a financial crisis.
BRUSSELS (Reuters) – Thousands upon thousands of people, great and small, met Nelson Mandela, and as a correspondent in South Africa from 1997-2000, I was fortunate to be among them.
During his presidency and in the early years of his retirement from office, Mandela made a point of meeting as many of the people who beat a path to his door as possible.
BRUSSELS (Reuters) – Next May’s elections to the European Parliament promise to be among the most closely watched since the 1970s, with many in Europe expected to show their frustration with the economic crisis by voting for anti-EU or protest parties.
While that analysis has become the received wisdom, political experts are less convinced, suggesting that while there may be an increase in protest votes, it’s unlikely to be anywhere near as large as some have predicted.
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) – European leaders will come face-to-face with Viktor Yanukovich on Thursday for the first time since the Ukrainian president spurned their offer of a free-trade deal and decided to seek closer ties with Russia instead.
In a meeting that promises to be one of the frostier moments of political theatre this year, Yanukovich plans to attend a dinner in the Lithuanian capital Vilnius to honor the Eastern Partnership, the EU’s four-year-old program of outreach to former Soviet states.
BRUSSELS/KIEV (Reuters) – The European Union expressed strong disapproval on Monday over Russia’s pressure on Ukraine to reject an EU trade deal, while police fired tear gas at pro-Europe protesters in the former Soviet republic’s capital, Kiev.
Ukraine had been expected to sign a far-reaching trade and political association agreement with the EU at a summit in Vilnius on Friday. But it suddenly announced last week it had decided to seek closer trade relations with Moscow instead.