Finance and Monetary Affairs in the EU

Latest business news about Finance and Economic and Monetary Affairs in the European Union

Eurozone retail sales slip back into rut — 03 July 2009, 16:43 CET

Retailers in the 16 nations using the euro saw their sales fall in May, renewing a slump that was broken in April by a short-lived improvement, according to official EU data on Friday.

New Microfinance initiative: a valuable tool to stimulate entrepreneurship and create jobs — 02 July 2009, 23:50 CET

News, background information and web links about European Union policies on SMEs (small businesses).

Montenegro gets 128m dollar EIB loan — 02 July 2009, 17:08 CET

Montenegro and the European Investment Bank signed an accord Thursday for a 91-million-euro (128-million-dollar) loan aimed at boosting the economic recovery of the Adriatic state.

Commission recommends 2012 for correction of Latvia's excessive deficit - briefing — 02 July 2009, 13:15 CET

Latvia is a member of the European Union

EU tells Latvia correct deficit by 2012 — 02 July 2009, 23:14 CET

The European Commission called on Latvia on Thursday to cut its huge budget deficit to an EU limit by 2012 as it approved a desperately needed instalment of loans to the crisis-stricken country.

Eurozone unemployment hits 10-year high of 9.5 pct — 02 July 2009, 13:09 CET

The unemployment rate in the 16 euro countries climbed to a 10-year high of 9.5 per cent in May as companies cut jobs to survive Europe's worst post-war recession, according to EU data on Thursday.

Nordics ink eur 1.78bn loan to crisis-stricken Iceland — 01 July 2009, 16:32 CET

Iceland's Nordic neighbours Denmark, Sweden, Finland and Norway signed loan agreements on Wednesday of 1.78 billion euros for the crisis-stricken country, the four nations said in a joint statement.

Polish police nab largest-ever currency counterfeiting gang — 01 July 2009, 12:53 CET

Polish police have arrested three Poles suspected of running the country's largest-ever operation counterfeiting euros and Polish zloty banknotes, national police headquarters said Wednesday.

EU competition chief eyes RBS, Lloyds asset sale — 01 July 2009, 00:00 CET

European regulators could compel Britain's state-controlled banks to sell chunks of their assets to comply with competition rules, the EU's top competition regulator said in London on Tuesday.

Polish shipyards sold to Qatari fund — 30 June 2009, 23:59 CET

Two historic Polish shipyards sold off last month went to Qatari fund Qinvest, Poland's Treasury Minister Aleksander Grad revealed on Tuesday after an official silence on the buyer.

France's Carrefour unveils EUR 4.5bn cost-cutting plan — 30 June 2009, 23:55 CET

French retail giant Carrefour unveiled a new plan Tuesday to cut costs by 4.5 billion euros by 2012 following a plunge in profits last year.

Slovaks get rid of koruna coins after euro adoption — 30 June 2009, 23:54 CET

Slovaks, who have been using the euro for six months, got rid of all their old koruna coins on Tuesday -- their last opportunity to exchange the coins for euros in banks.

Sweden calls on EU members to rein in spending — 30 June 2009, 23:52 CET

Sweden's EU presidency will urge fellow members to tighten their belts after pumping several billion euros into their economies to offset the effects of the economic crisis, taking the risk of a conflict with the bloc's big spenders.

Austria's Strabag wins 1.6-bln-euro Polish highway contract — 30 June 2009, 23:51 CET

Austrian construction company Strabag is to build a stretch of the A2 east-west highway in Poland by 2012 for 1.5 billion euros, Strabag's consortium said on Tuesday.

EU gives temporary green light to state aid for KBC bank — 30 June 2009, 18:41 CET

The European Commission said on Tuesday it had given temporary approval for Belgian state aid to financial group KBC on condition Belgium details a restructuring plan in three months.

EU approves aid for German mail order firm Quelle — 30 June 2009, 17:32 CET

The European Commission said on Tuesday it had approved 50 million euros in German state aid to prop up insolvent mail-order company Quelle.

Eurozone prices fall, raising spectre of deflation — 30 June 2009, 17:09 CET

Consumer prices in the 16 euro countries fell in June for the first time on record, an official EU estimate shows, raising the spectre of deflation gripping the bloc's recession-hit economy.

Ukraine hopes for international loans watered down: EU official — 30 June 2009, 00:33 CET

Ukraine will have to settle for far less than the 4.2 billion dollars in loans from international lenders that Kiev is seeking to pay for Russian natural gas, an EU official said on Monday.

Galileo satnav project ill- conceived: EU auditors — 30 June 2009, 00:38 CET

The EU's much delayed satellite navigation network project Galileo has been ill-prepared and badly managed, the European Court of Auditors charged Monday.

46 nations back new effort for return of Jewish WWII assets — 30 June 2009, 00:01 CET

Forty-six nations signed a declaration Monday to press for the restitution of Jewish assets stolen by the Nazis during World War II and provide social help for impoverished Holocaust survivors.

European economic confidence improves — 29 June 2009, 17:01 CET

European business and consumer confidence firmed in June for the third month running albeit from depressed levels, according to an EU survey on Monday.

Conference on return of Jewish assets starts in Prague — 27 June 2009, 00:01 CET

Nobel laureate and Auschwitz survivor Elie Wiesel on Friday expressed anger at the opening of an international conference in Prague at the failure to ensure restitution of assets seized from Holocaust victims.

EU set to unblock bailout cash for Latvia — 26 June 2009, 23:57 CET

The European Commission will hand cash-strapped Latvia the second instalment of a stalled bailout package in the coming weeks, after approval by member states' experts, a spokesperson said Friday.

Italy adopts 2.0 billion euro anti-crisis plan — 26 June 2009, 16:58 CET

The Italian government has approved a 2 billion euro plan to combat recession. The main measures lighten taxes on corporate profits that are re-invested and reduce gas bills for businesses and consumers.

Spain announces 9 billion euro banking fund — 26 June 2009, 23:59 CET

Spain on Friday announced a nine-billion-euro fund to help revive the financial sector by buying stakes in banks hit by the global crisis and get them lending again.