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The euro - the EU single currency

Latest news about the European Union's single currency.

Pound rises as Merkel extends olive branch to May - Euro currency news daily 20 October 2017, 11:54 CET
 

Brussels pushes ahead with banking risk-reduction package 11 October 2017, 23:53 CET
A financial system more stable and resilient to shocks will benefit citizens and businesses, the EU Commission said Wednesday as it outlined plans to accelerate completion of the EU's Banking Union.

Completing the Banking Union by 2018 11 October 2017, 23:25 CET
The European Commission proposed plans on 11 October 2017 to accelerate with the completion of the missing parts of the Banking Union.

EU Banking Union 11 October 2017, 23:18 CET
The banking union ensures that EU banks are stronger and better supervised. The single supervisory mechanism gives the European Central Bank certain supervisory tasks over the EU financial system. The single resolution mechanism (SRM) is a central institution for bank resolution in the EU, and one of the pillars of the banking union. The European deposit insurance scheme is a proposed scheme to protect retail deposits in the banking union.

EU appraises bids for agencies leaving Britain after Brexit 03 October 2017, 20:38 CET
The EU Commission published Monday its assessment of the 27 offers received from Member States to host the European Banking Authority and the European Medicines Agency - currently located in the United Kingdom.

European Banking Authority and European Medicines Agency after Brexit - Commission assessment of country offers 03 October 2017, 18:26 CET
European Commission publishes assessment of Member State offers to host European Banking Authority and European Medicines Agency after Brexit

Greece no longer in breach of EU budget deficit rules 26 September 2017, 23:26 CET
The European Union closed its excessive deficit procedure for Greece Monday, confirming that the country's deficit is now below 3 per cent of GDP, the EU's reference value for government deficits.

Banks must inform clients of risks of foreign currency loans: EU Court 21 September 2017, 22:42 CET
Banks lending in foreign currencies are under an obligation to provide sufficient information to enable a borrower to take prudent and well-informed decisions, the EU's top Court ruled Wednesday.

State aid: EU approves alternative RBS plan 19 September 2017, 00:06 CET
The EU Commission approved Monday under EU State aid rules the alternative package proposed by UK authorities to replace the commitment for Royal Bank of Scotland to divest Williams & Glyn.

23 cities bid to host UK-based EU agencies after Brexit 03 August 2017, 22:09 CET
The EU Commission began assessment Tuesday of Member States' applications to host the two European Union agencies currently based in the UK, with 23 cities putting in bids.

EU finance ministers approve plan for bad loans 13 July 2017, 13:58 CET
EU finance ministers at their Council meeting Wednesday approved an action plan to address the problem of non-performing loans in the banking sector, to reduce stocks and prevent their future emergence.

How EU rules apply to banks with a capital shortfall 26 June 2017, 14:10 CET
The European Commission approved on 25 June, under EU rules, Italian measures to facilitate the liquidation of Banca Popolare di Vicenza (BPVI) and Veneto Banca under national insolvency law.

EU probes RBS alternative to Williams & Glyn sale 04 April 2017, 22:47 CET
The EU Commission is to investigate an alternative proposal from the UK to the Royal Bank of Scotland's commitment to sell Williams & Glyn as part of its restructuring plan.

HSBC, JP Morgan, Crédit Agricole fined EUR 485m for rate rigging 07 December 2016, 23:04 CET
Crédit Agricole, HSBC and JPMorgan Chase were fined a total of EUR 485m by the EU Commission Wednesday for their participation in the Euribor cartel in euro interest rate derivatives.

Central Counterparties Recovery and Resolution Proposal 29 November 2016, 22:57 CET
The European Commission proposed on 28 November new rules to ensure that systemic market infrastructures in the financial system, known as Central Counterparties (CCPs), can be dealt with effectively when things go wrong.

New reforms to boost resilience of European banks 24 November 2016, 18:42 CET
The EU Commission unveiled a package of proposals Wednesday to boost the resilience of European banks against potential shocks, and to support smaller businesses and infrastructure investment.

Euro hopefuls not yet ready to join 08 June 2016, 16:24 CET
Of the seven countries legally committed to adopting the euro, none currently meets all the conditions for joining the single currency, says the 2016 Convergence Report, published Tuesday.

Single Resolution Board 17 February 2016, 15:40 CET
The Single Resolution Board (SRB) is the resolution authority for the significant and cross border banking groups established within the EU's participating Member States. In the context of the Single Resolution Mechanism, it works in close cooperation with the national resolution authorities. In the newly created Banking Union the SRB cooperates with the European Central Bank, the European Commission, as well as other European and international institutions. The SRB's mission is to ensure an orderly resolution of failing banks with minimum impact on the real economy and on public finances of the participating Member States and beyond.

Single Resolution Mechanism comes into effect for EU Banking Union 04 January 2016, 22:59 CET
The Single Resolution Mechanism (SRM) became fully operational on 1 January 2016. The SRM implements the EU-wide Bank Recovery and Resolution Directive (BRRD) in the euro area. The full resolution powers of the Single Resolution Board (SRB) also apply as of 1 January 2016.

EU Banking Union: new measures to reinforce deposit protection and further reduce banking risks 25 November 2015, 00:25 CET
The European Commission proposed on 24 November euro-area wide insurance scheme for bank deposits and has set out further measures to reduce remaining risks in the banking sector in parallel.

European Bank for Reconstruction and Development 05 November 2015, 20:00 CET
Since its establishment in 1991, the European Bank for Reconstruction and Development has become the largest financial investor in its region of operations which stretches from central Europe and the Western Balkans to central Asia. With the ability and willingness to bear risk on behalf of its clients, the EBRD helps their countries in the region to become open, market economies. The EBRD is owned by 64 countries, the European Union and the European Investment Bank. It provides project financing for banks, industries and businesses, both new ventures and investments in existing companies. It also works with publicly owned companies.

Single Supervisory Mechanism 02 November 2015, 10:53 CET
The Single Supervisory Mechanism (SSM) is a new system of banking supervision for Europe. It comprises the ECB and the national supervisory authorities of the participating countries. Its main aims are to: ensure the safety and soundness of the European banking system. increase financial integration and stability.

EU Regulatory Framework for Financial Services: call for evidence 30 September 2015, 17:40 CET
The Commission is inviting all interested parties to provide feedback and empirical evidence on the benefits, unintended effects, consistency and coherence of the financial legislation adopted in response to the financial crisis.

Action Plan on building a Capital Markets Union 30 September 2015, 16:11 CET
The European Commission launched the Capital Markets Union Action Plan on 30 September to help build a true single market for capital across the 28 EU Member States.

Five Presidents' Report - plans to strengthen Economic and Monetary Union as of 1 July 2015 22 June 2015, 18:14 CET
The EU Institutions' five Presidents - European Commission President Jean-Claude Juncker, together with the President of the Euro Summit, Donald Tusk, the President of the Eurogroup, Jeroen Dijsselbloem, the President of the European Central Bank, Mario Draghi, and the President of the European Parliament, Martin Schulz - revealed on 22 June ambitious plans on how to deepen the Economic and Monetary Union (EMU) as of 1 July 2015 and how to complete it by latest 2025.