BRUSSELS (Reuters) – Greece has moved a step away from bankruptcy with parliament’s approval of new reforms, but its debt pile still threatens its solvency and its international creditors have yet to agree even how big it is.
Inspectors from the European Commission, the European Central Bank and the International Monetary Fund — together known as the troika — have been in Athens on and off since July trying to establish whether Greece will ever be able to pay back everything it owes.
BRUSSELS, Oct 19 (Reuters) – German Chancellor Angela Merkel
raised new hurdles on Friday to using the euro zone’s rescue
fund to inject capital directly into ailing banks from next
year, dashing Spain’s hopes of soon removing the cost from its
strained national debt.
Merkel’s move limited the impact of a key decision by
European Union leaders struggling to overcome a three-year-old
debt crisis in the 17-nation currency area — an overnight
agreement to establish a single banking supervisor from next
BRUSSELS, Oct 19 (Reuters) – Prime Minister David Cameron on
Friday rejected suggestions from one his EU partners that
Britain was slowly waving goodbye to Europe, but said he wanted
a “new settlement” with the European Union, including more say
in how it is run.
Speaking at the end of a two-day summit, during which
Finland’s Europe minister told Reuters he had the feeling
Britain was slowly saying “bye-bye” to the European Union,
Cameron said he just wanted a different relationship with the
BRUSSELS (Reuters) – European Union leaders agreed on Friday a single supervisor will take responsibility for overseeing euro zone banks from next year.
Details on the precise number of banks to be monitored and the powers the supervisor — the European Central Bank — will have, however, were left for later.
BRUSSELS (Reuters) – Britain’s policy towards Europe is becoming harder to understand and there is a sense the country is slowly waving goodbye to the European Union, Finland’s Europe minister said on Thursday.
Speaking at an EU summit, Alex Stubb said Britain appeared to be purposefully putting itself at odds with its partners. Finland allies closely with Germany on a range of EU issues and has a substantial voice in EU policymaking.
BERLIN/BRUSSELS, Oct 18 (Reuters) – German Chancellor Angela
Merkel demanded stronger central powers for the European Union’s
executive to veto national budgets that breach EU rules, risking
a clash with close ally France at a summit of the bloc’s
leaders on Thursday.
Addressing parliament in Berlin hours before the 22nd summit
since the start of the euro zone’s debt crisis, Merkel also
sought to slow the race to create a single European banking
supervisor, saying quality was more important than speed.
BRUSSELS (Reuters) – European leaders will try to bridge deep differences over plans for a banking union at a summit on Thursday but no substantial decisions are expected, reviving concerns about complacency in tackling the three-year-old debt crisis.
It will be the fourth time EU leaders have met this year and the 22nd summit held since the crisis erupted in Greece in late 2009. Yet diplomats expect no breakthroughs at the two-day gathering, with the agenda focused instead on longer-term efforts to retool the region’s banks and economies.
BRUSSELS (Reuters) – Rising expectations that Spain will soon ask for a euro zone credit line to help cut its borrowing costs look set to dominate a European Union summit beginning on Thursday, potentially crowding out talks on a disputed banking union.
The two-day summit, the fourth among the 27 EU leaders this year, was meant to focus on efforts to establish a single supervisor for the euro zone’s banks, as well as longer-term plans for closer integration of the currency union.
BRUSSELS, Oct 12 (Reuters) – Euro zone countries should
consider clubbing together to borrow as well as paying into a
central budget that could be used to help struggling countries,
according to a report prepared by senior European officials
ahead of a meeting of leaders.
The interim report, prepared by Herman Van Rompuy, who as
president of the European Council will chair a summit meeting
next week, charts a path towards closer fiscal integration among
the 17 countries using the euro as they struggle to contain an
BRUSSELS, Oct 11 (Reuters) – The European Union’s top
official fleshed out his ideas for a separate budget for euro
zone countries on Thursday, and indirectly warned British Prime
Minister David Cameron about using the proposal for his own
At a conference to discuss the state of Europe after nearly
three years of debt and financial crisis, Herman Van Rompuy, the
president of the European Council, said a separate euro zone
budget was an idea that needed close examination.