LUXEMBOURG (Reuters) – EU finance ministers agreed on Tuesday to give the European Central Bank sweeping supervisory powers in the euro zone but Germany dug in its heels on how to deal with failing banks, the second stage in building a banking union.
The European Union ministers gave their final approval for the ECB’s regulatory role nearly 1-1/2 years after the idea was first floated, with Britain dropping opposition to a plan it feared might threaten its control of London’s financial centre.
LUXEMBOURG, Oct 15 (Reuters) – Britain dropped its
objections to granting the European Central Bank sweeping powers
of supervision in the euro zone, but EU governments remained
divided on Tuesday over how to deal with failing banks ahead of
a rapidly approaching December deadline.
Europe’s finance ministers are striving to agree the next
big step in European integration by setting up a banking
framework chiefly for the euro zone that would not only police
the bloc’s banks but find joint solutions to their problems.
LUXEMBOURG, Oct 14 (Reuters) – The euro zone debated on
Monday how to prop up banks likely to be declared unstable next
year, but France’s blunt criticism of Germany before the meeting
laid bare the tensions surrounding the far-reaching financial
Bank health checks by the European Central Bank are a
critical step in establishing a single banking framework for the
euro zone, giving credibility to ECB supervision and paving the
way for the bloc to cooperate on saving bust banks.
LUXEMBOURG (Reuters) – Euro zone countries will consider on Monday how to pay for the repair of their broken banks after health checks next year that are expected to uncover problems that have festered since the financial crisis.
Nobody knows the true scale of potential losses at Europe’s banks, but the International Monetary Fund hinted at the enormity of the problem this month, saying that Spanish and Italian banks face 230 billion euros ($310 billion) of losses alone on credit to companies in the next two years.
BRUSSELS, Oct 6 (Reuters) – Aqua or water? These words mean
the same thing, and yet illustrate a divide that European and
U.S. negotiators must bridge in free-trade talks to integrate
half the global economy.
From fragrances to finance, creating common rules is vital
for reaching a deal between the European Union and United States
that officials say can boost economic output by more than $100
billion a year on each side of the Atlantic.
BRUSSELS (Reuters) – Even before the cancelation of the latest round of EU-U.S. talks, negotiations to create the world’s largest free-trade deal were getting into difficulty territory.
France won a concession to leave European movies and entertainment out of the pact, to shield them from Hollywood and Silicon Valley, raising concerns Washington may pursue opt-outs for its shipping industry on security grounds.
BRUSSELS, Oct 6 (Reuters) – Even before the cancellation of
the latest round of EU-U.S. talks, negotiations to create the
world’s largest free-trade deal were getting into difficulty
France won a concession to leave European movies and
entertainment out of the pact, to shield them from Hollywood and
Silicon Valley, raising concerns Washington may pursue opt-outs
for its shipping industry on security grounds.
BRUSSELS (Reuters) – A system that made patent registration up to 60 times more expensive in Europe than in China is being scrapped in favor of a one-size-fits-all pan-European process, EU officials said on Monday.
Signing off on a plan first considered in 1973, 25 of the EU’s 27 industry ministers – apart from Spain and Italy – agreed to allow inventors to register their idea with one EU agency.