BRUSSELS, Nov 23 (Reuters) – Luxembourg’s Yves Mersch won a
top post at the European Central Bank on Friday after months of
dispute with lawmakers at the European Parliament who objected
to his appointment because of a lack of women in the bank’s
The decision by European leaders to press ahead with Mersch
could strain their relations with the European Parliament,
potentially hampering agreement on reforms needed to resolve the
bloc’s debt and banking crises and in which lawmakers have a
BRUSSELS (Reuters) – Euro zone finance ministers are considering allowing Athens to buy back up to 40 billion euros (32 billion pounds) of its own bonds at a discount as one of a number of measures to cut Greek debt to 120 percent of GDP within the next eight years.
Going into the second ministerial meeting in successive weeks, Jean-Claude Juncker, the chairman of the group, was cautiously optimistic that a deal would be struck.
BRUSSELS (Reuters) – Euro zone finance ministers are likely to give tentative approval to the next tranche of loans to Greece and seek a way to cut the country’s huge debt on Tuesday, although no money is likely to be disbursed before December.
Officials familiar with preparations for the finance ministers’ meeting expect a “political endorsement in principle” on unfreezing loans to Athens, after Greece completed almost all the reforms that were required.
BRUSSELS, Nov 20 (Reuters) – Euro zone finance ministers are
likely to approve the next tranche of loans to Greece on Tuesday
although the money is unlikely to be disbursed before December
and a deal on debt reduction may need further talks.
Officials familiar with preparations for the finance
ministers’ meeting expect a “political endorsement in principle”
on unfreezing loans to Athens, after Greece completed almost all
the reforms that were required.
BRUSSELS (Reuters) – The euro zone fell into a recession in July-September, the second since the global financial crisis in 2009, as French resilience could not make up for a slump across Europe and the three-year debt crisis slowed Germany to a crawl.
Economic output in the 17-country euro zone fell 0.1 percent in the third quarter, the EU’s statistics office Eurostat said on Thursday, following a 0.2-percent drop in the second quarter.
BRUSSELS, Nov 15 (Reuters) – The euro zone likely slipped
into its second recession since 2009 in the July-September
period, as the three-year debt crisis slowed economic growth in
Germany to a crawl.
Economists expect EU statistics office Eurostat to say on
Thursday that the bloc’s output shrank 0.2 percent in the third
quarter, as it did in the second quarter.
BRUSSELS, Nov 14 (Reuters) – Output from euro zone factories
in September took its steepest fall since January 2009, dragged
down by German industry’s loss of resilience after three years
of crisis in Europe.
Industrial production in the 17 countries sharing the euro
fell 2.5 percent in September from August, the EU’s statistics
office Eurostat said on Wednesday, worse than the 1.9 percent
fall forecast by economists in a Reuters poll.
BRUSSELS (Reuters) – Divisions in Europe over a new regime to supervise banks overshadowed fresh attempts by EU finance ministers on Tuesday to agree a centrepiece reform that some officials fear could now unravel.
So far, countries in the euro zone have attempted to contain the financial crisis with piecemeal measures. The banking union would be a cornerstone of wider economic union and the first concerted attempt to integrate the bloc’s response to problem lenders to win back confidence.
BRUSSELS, Nov 13 (Reuters) – European lawmakers are
challenging Malta’s nominee for the EU’s top health job because
of his contempt for homosexuals and opposition to abortion,
after his predecessor quit over an investigation linking him to
European Greens, Liberals and Socialists, who have spoken
out against Tonio Borg, Malta’s foreign minister and a devout
Catholic, make up half of the parliament. The Conservatives, who
are more likely to back him, have just under half of the
legislature, with independents making up the rest.
BRUSSELS, Nov 13 (Reuters) – EU finance ministers will seek
on Tuesday to break an impasse over a new regime to supervise
banks, but with much of the plan contested and time running
short to agree, the European Union risks seeing this centrepiece
So far, countries in the euro zone have attempted to contain
the financial crisis with piecemeal measures. The banking union
is the first concerted attempt to integrate the bloc’s response
to problem lenders to win back confidence.