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Finance and Monetary Affairs in the EU

Latest news on economic and monetary affairs in the European Union.

Schulz says faith in Greek government at 'rock bottom' 02 July 2015, 23:24 CET
European Parliament president Martin Schulz said Thursday his faith in the Greek government had reached "rock bottom," and if its people vote 'Yes' at this weekend's referendum he expects an interim administration of technocrats to take charge.

Greece won't leave eurozone, says Italian PM 02 July 2015, 22:32 CET
Greece will not exit the eurozone regardless of the outcome of the country's referendum this weekend, Italian Prime Minister Matteo Renzi said Thursday.

Stakes rise in Greece's bailout referendum 02 July 2015, 22:25 CET
Greece's government and international creditors raised the stakes Thursday over a weekend referendum that could decide the nearly insolvent EU country's political and financial future.

Protesters urge Greeks to use fake ballot papers in referendum 02 July 2015, 22:02 CET
Thousands of Communist Party supporters held a rally in Athens Thursday calling for people to defy the government and vote with fake ballot papers at Greece's upcoming bailout referendum.

IMF: Greece needs EUR 36 bn more from EU 02 July 2015, 20:20 CET
Greece needs 50 billion euros ($55 billion) over the next three years, including 36 billion euros more from EU lenders, to stabilize its finances even under existing creditor plans, the IMF said Thursday.

Greece's top court to rule on legality of referendum 02 July 2015, 20:19 CET
Greece's top administrative court, the Council of State, is to rule on the legality of the government's rushed bailout referendum set for this weekend, judicial sources said Thursday.

Greek businesses buffeted by economic storm 02 July 2015, 20:16 CET
Greece's dive into financial uncertainty is forcing struggling businesses to take unusual steps to survive, including hoarding euros in cash.

Greeks waver between 'Yes' and 'No' ahead of bailout vote 02 July 2015, 20:15 CET
In the shade of oak trees in a dusty Athens park, a fierce debate is raging. Is it better to vote 'No' in the upcoming referendum and unshackle Greece from its creditors, or say 'Yes' to Europe?

Business groups divided over merits of Britain's EU membership 02 July 2015, 17:06 CET
Opinion is divided among some of the UK’s most vocal business groups over whether or not Britain ought to remain a part of the European Union.

Greek government 'may resign' if it loses referendum 02 July 2015, 15:35 CET
Greece's radical left government said Thursday it may resign if it fails to win a referendum that could decide the country's financial future.

Poland's conservatives vow no euro if win polls 02 July 2015, 15:02 CET
Poland's conservative Law and Justice (PiS) party said Thursday it would not have the country adopt the European single currency if it wins, as polls currently predict, the autumn general election.

Hollande warns entering 'unknown' territory if Greece votes 'No' 02 July 2015, 14:47 CET
French President Francois Hollande warned Thursday that Europe would be entering "unknown" territory if Greeks voted against tough austerity conditions attached to a bailout in a make-or-break referendum.

ECB worries about Greece as source of market volatility 02 July 2015, 14:12 CET
The European Central Bank worries about the wrangling over a debt deal with crisis-hit Greece as a source of financial market volatility, said minutes of a past meeting released Thursday.

Thai crackdown on illegal fishing threatens industry 02 July 2015, 13:49 CET
Around 5,000 Thai fishing boats have stopped operating out of fear they will be prosecuted over new rules, as authorities crackdown to avoid a European Union ban on fish products.

We take euro deposits, Greek bank pleads as customers withdraw cash 02 July 2015, 13:37 CET
Capital controls are prompting worried Greeks to withdraw as much cash as possible but, in an ironic counter-point, the country's National Bank declared Thursday its ATMs still accepted euro deposits.

Greek situation 'deteriorating': Dijsselbloem 02 July 2015, 13:27 CET
Eurogroup chief Jeroen Dijsselbloem warned Thursday that Greece's financial situation is deteriorating, saying a 'No' vote in Sunday's crunch referendum would question whether Athens still had a place within the eurozone.

Even with a bailout, Greece's debt must be tackled 02 July 2015, 13:12 CET
Write down, write off, restructure, reprofile...whatever term you choose, if Greece doesn't completely default on its debt, its creditors will have to address the issue of its massive debt.

We can't print drachmas, says Greece's finance minister 02 July 2015, 12:02 CET
With speculation swirling that Greece might be forced out of the euro and have to print its own money after a weekend referendum, its finance minister on Thursday said the country no longer had the presses to make drachmas.

More volatility expected heading into Greek vote - Euro Currency update 02 July 2015, 11:27 CET
After Greece failed to repay the International Monetary Fund, the common currency slid against a number of its peers.

Greek PM urges 'No' vote to strengthen his hand 02 July 2015, 11:11 CET
Prime Minister Alexis Tsipras urged Greeks to vote 'No' in a referendum Sunday on bailout proposals after European leaders ruled out any further debt talks until seeing the outcome.

Young Greeks flee abroad as crisis deepens 02 July 2015, 05:42 CET
What does the future look like for young people in crisis-hit Greece, where years of hardship and sky-high unemployment were followed this week by bank closures? The answer: self-imposed exile.

Lagarde says Greece talks still need 'more adulthood' 02 July 2015, 00:22 CET
International Monetary Fund Managing Director Christine Lagarde said Wednesday that talks between Greece and its creditors still would benefit from "a bit more adulthood."

What Greece still owes in 2015 02 July 2015, 00:09 CET
Greece has missed a 1.5 billion euro ($1.7 billion) payment to the International Monetary Fund (IMF) sparking fears it is sliding towards a messy eurozone exit -- and it still has another 10 billion euros due this year.

Russia blasts Finland for barring parliament speaker 02 July 2015, 00:09 CET
Moscow on Wednesday slammed Finland for refusing entry to the speaker of Russia's parliament in the latest high-profile spat between the Kremlin and the European Union over the blacklisting of officials due to the Ukraine crisis.

Moody's cuts Greece rating deeper into junk territory 01 July 2015, 23:22 CET
Moody's cut its credit rating for Greece to a deep-junk "Caa3" Wednesday, warning it is now less likely that official creditors will support the country, whatever happens in Sunday's referendum.