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.
BRUSSELS, Sept 26 (Reuters) – The EU’s economics chief put
aside any frustration with the pace of French reforms on
Thursday, telling France’s finance minister that his budget
plans were on track and avoiding mention of ballooning pension
Relations between Brussels and Paris have been tense since
the European Commission, the EU executive, told France to cut
spending and reform its pension system in return for a two-year
reprieve on meeting European budget targets.
BRUSSELS (Reuters) – Four months ago, President Francois Hollande warned Brussels not to tell France how to run its finances. In a few weeks’ time, the European Commission will do exactly that as a new era of rigid fiscal surveillance begins in Europe.
In one of the most far-reaching responses to the region’s debt crisis, the Commission, the EU’s executive, will now run the rule over the budget plans of the 17 euro zone countries before they are fully digested by national parliaments.