BRUSSELS/LUXEMBOURG (Reuters) – The European Union and Canada agreed a multi-billion-dollar trade pact on Friday that will integrate two of the world’s largest economies and paves the way for Europe to clinch an even bigger deal with the United States.
Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso sealed the pact – the EU’s first with a member of the Group of Eight biggest world economies – by resolving outstanding issues in Brussels.
BRUSSELS, Oct 17 (Reuters) – Argentina is preparing to take
the European Union to the World Trade Organisation to challenge
punitive duties on its biodiesel exports, two people familiar
with the matter said on Thursday.
Argentina and the EU are embroiled in a row over the fuel,
made mostly from soybean oil, and Brussels accuses Buenos Aires
of using unfair subsidies to sell biodiesel at below cost in
Europe, imposing temporary levies on the imports in May.
BRUSSELS, Oct 17 (Reuters) – The European Union and Canada
are expected to close negotiations on a multi-billion-dollar
trade deal on Friday if they can overcome final disagreements
ranging from medicine patents to feta cheese and integrate two
of the world’s biggest economies.
Canadian Prime Minister Stephen Harper and European
Commission President Jose Manuel Barroso will meet at around
midday (1000 GMT) in Brussels to wrap up talks that were
launched in 2009 but which stalled early this year over demands
for greater access to each other’s markets.
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.