BRUSSELS (Reuters) – A hard-fought EU agreement on how to handle failing banks attracted sharp criticism on Thursday, with the president of the European Parliament describing it as possibly the biggest policy failure since the euro crisis erupted four years ago.
The deal, clinched by European finance ministers in the early morning hours of Thursday after months of difficult negotiations, sets out a blueprint for shuttering troubled lenders, which pushed countries like Ireland and Cyprus to the brink of bankruptcy.
BERLIN, Dec 18 (Reuters) – In the first speech of her third
term, German Chancellor Angela Merkel urged European partners to
tackle flaws in their currency union by ceding control over
economic policy and making politically sensitive changes to the
Speaking in the Bundestag lower house of parliament a day
after her new “grand coalition” government was sworn in, Merkel
said progress in countries like Ireland and Spain showed Europe
was overcoming the financial crisis that nearly tore it apart.
BERLIN (Reuters) – Angela Merkel was elected to a third term as chancellor in a vote in the German lower house of parliament on Tuesday, paving the way for her new government to formally take power after months of coalition talks.
Her right-left government, which includes the rival Social Democrats (SPD), faces a host of challenges, including seeing through Merkel’s costly switch from nuclear to renewable energy and bedding down European reforms aimed at shielding the bloc from future crises.