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Dec 10, 2012

EU receives Nobel for building “continent of peace”

OSLO (Reuters) – The European Union will receive the 2012 Nobel Peace Prize at a ceremony in Oslo on Monday, honored by the Norwegian committee for bringing decades of peace and democracy to Europe after the horrors and division of two world wars.

Looking beyond the current, deep malaise Europe finds itself in with slumping growth, soaring unemployment and countries unable to pay their debts, the Nobel committee has instead focused on what the EU has done over the past 60 years to reconcile the disparate, warring corners of the ‘old continent’.

Dec 6, 2012

EU sets out detailed “map” for euro zone’s overhaul

BRUSSELS (Reuters) – European Union leaders will examine a detailed plan for completing a banking union and strengthening euro zone fiscal policy next week, with officials concerned that momentum is waning in tackling the debt crisis.

In a report prepared for a December 13-14 EU summit, policymakers have set out a three-step process they hope will strengthen economic and monetary union and help prevent a repeat of the problems that have threatened the survival of the euro.

Dec 6, 2012

Van Rompuy charts path to closer integration

BRUSSELS (Reuters) – The European Central Bank should have full responsibility for overseeing euro zone banks by the start of 2014, a report prepared for EU leaders said on Thursday, indicating that creating a “banking union” will take longer than expected.

The 15-page report setting out the future of economic and monetary union also said a framework for allowing the direct recapitalization of troubled banks from the euro zone’s rescue fund should be finalized by the end of March next year.

Dec 5, 2012

Analysis: For the EU, way ahead may be a three-lane highway

BRUSSELS (Reuters) – Much has been written over the past year about the risks of a two-speed Europe in which the 17 euro zone countries move ahead more rapidly than the rest of the European Union.

Such a divergence, the conventional wisdom goes, could mark the beginning of an unraveling of nearly 60 years of post-war European integration and tear the EU apart.

Dec 5, 2012

For the EU, way ahead may be a three-lane highway

BRUSSELS, Dec 5 (Reuters) – Much has been written over the
past year about the risks of a two-speed Europe in which the 17
euro zone countries move ahead more rapidly than the rest of the
European Union.

Such a divergence, the conventional wisdom goes, could mark
the beginning of an unravelling of nearly 60 years of post-war
European integration and tear the EU apart.

Nov 28, 2012

EU Commission unveils vision for euro zone’s integration

BRUSSELS, Nov 28 (Reuters) – The European Commission
unveiled plans for a fundamental overhaul of how the euro zone
is structured on Wednesday, including the prospect of setting up
a common budget for the single currency area and issuing joint
debt in the years ahead.

In a five-page document dubbed a ‘blueprint’ for creating a
“deep and genuine” economic and monetary union, Commission
President Jose Manuel Barroso acknowledged that the 17 countries
in the euro zone needed to be allowed to integrate more deeply
and at a faster rate than the rest of the 27-country bloc.

Nov 27, 2012

Analysis: Euro zone debt forgiveness lies ahead in Greek mire

BRUSSELS (Reuters) – Within minutes of euro zone finance ministers reaching a deal to cut Greece’s debt late on Monday, commentators on Twitter were dismissing it as another exercise in “kicking the can down the road”.

To an extent that is true. Under the agreement, the euro zone and the International Monetary Fund will give Greece two more years to reach its budget goals and will find another 44 billion euros ($57 billion) to keep the country afloat in the meantime.

Nov 27, 2012

Euro zone debt forgiveness lies ahead in Greek mire

BRUSSELS, Nov 27 (Reuters) – Within minutes of euro zone
finance ministers reaching a deal to cut Greece’s debt late on
Monday, commentators on Twitter were dismissing it as another
exercise in “kicking the can down the road”.

To an extent that is true. Under the agreement, the euro
zone and the International Monetary Fund will give Greece two
more years to reach its budget goals and will find another 44
billion euros ($57 billion) to keep the country afloat in the
meantime.

Nov 27, 2012

Greece, markets satisfied by EU-IMF Greek debt deal

BRUSSELS, Nov 27 (Reuters) – The Greek government and
financial markets were cheered on Tuesday by an agreement
between euro zone finance ministers and the International
Monetary Fund to reduce Greece’s debt, paving the way for the
release of urgently needed aid loans.

The deal, clinched at the third attempt after weeks of
wrangling, removes the biggest risk of a sovereign default in
the euro zone for now, ensuring the near-bankrupt country will
stay afloat at least until after a 2013 German general election.

Nov 23, 2012

A deal briefly glimpsed before EU budget talks fail

BRUSSELS (Reuters) – For a few minutes on Friday afternoon, it looked as if the European Union might just get a deal on nearly 1 trillion euros of spending for its next long-term budget.

During a “tour-de-table” among the EU’s 27 leaders, the first time they had discussed the 2014-2020 budget as a group, it seemed for a moment that France, Poland, Italy and others might accept deeper cuts than originally proposed, diplomats said on Friday after the summit broke up without agreement.

    • About Luke

      "Luke is bureau chief for Reuters in Brussels. The 25-strong, multimedia bureau covers all European Union issues, from trade, energy and agriculture to foreign policy, competition, regulation and economic affairs. The bureau is also responsible for coverage of NATO and Belgian politics, economics and company news. In his beat, Luke covers foreign affairs, with a focus on the Middle East and Iran, and writes about EU economic policy. He was previously based in London, where he was defence correspondent, and before that had postings in Jerusalem, Baghdad, Rome and Johannesburg."
      Joined Reuters:
      1997
      Languages:
      English, Italian, French, Spanish
    • More from Luke

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      Under Fire: Untold Stories from the Front Line of the Iraq War
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