STRASBOURG/BRUSSELS Sept 12 (Reuters) – Europe took a
significant step forward in its ambitions to create a single
banking framework for the euro zone on Thursday after EU
lawmakers granted new powers to the European Central Bank to
oversee the currency bloc’s banks.
The plan approved by an overwhelming majority of the
European Parliament will allow the ECB in Frankfurt to oversee
around 6,000 banks in the 17 euro zone countries.
BRUSSELS (Reuters) – A bounce in exports and spending pulled the euro zone out of recession in the second quarter of 2013, data shows, in the first signs of recovery after the bloc’s longest slump.
Stronger-than-expected growth from Germany to Portugal helped the bloc’s economy expand 0.3 percent in the April-to-June period, the European Union’s statistics office Eurostat said on Wednesday in its first breakdown of the data.
BRUSSELS, Aug 29 (Reuters) – Greece’s international lenders
will press Athens next month to transfer state-owned real estate
to a holding company managed by the euro zone to spur flagging
privatisation efforts, officials said on Thursday.
The plan, to be put to the Greek government by the troika of
lenders – the IMF, the European Central Bank and the European
Commission – in September, will propose creating a Greek-owned
holding company outside Greece and run by foreign experts.
BRUSSELS (Reuters) – The European Union has warned Beijing it has evidence Chinese solar companies benefit from illegal subsidies, people close to the issue said on Tuesday, but Brussels says it will not take action for now following a deal to defuse the row.
European companies accuse Chinese rivals of benefiting from unfair state aid allowing them to dump about 21 billion euros ($28 billion) worth of solar panels at below cost in Europe last year, putting European firms out of business.
BRUSSELS (Reuters) – The number of people out of a job in the euro zone has fallen for the first time in more than two years, the latest sign the bloc may make a muted recovery from recession later this year.
Falling spending in June by shoppers in Germany, France and Spain, whoever, will dampen any early celebrations, but low annual inflation – stable at 1.6 percent in July – means the European Central Bank is able to act if the recovery falters.
BRUSSELS (Reuters) – China has agreed to discuss dropping its inquiry into whether Europe is dumping wine, the EU’s trade chief said on Monday, after EU and Chinese officials made a deal to avoid tariffs on solar panels from China.
After resolving their biggest trade dispute yet, Beijing and Brussels will tackle accusations that French, Spanish and Italian wine is being exported for sale at below the cost of production, as well as another dispute over exports of polysilicon, a raw material used in solar panels.
BRUSSELS/BEIJING (Reuters) – China and the European Union defused their biggest trade dispute by far on Saturday with a deal to regulate Chinese solar panel imports and avoid a wider war in goods from wine to steel.
After six weeks of talks, the EU’s trade chief and his Chinese counterpart sealed the deal over the telephone, setting a minimum price for panels from China near spot market prices.