Finance and Monetary Affairs in the EU

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

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Commission head says markets no longer see eurozone break-up — 03 January 2013, 17:31 CET

Investors no longer think there is a risk that the eurozone could break up, says European Commission President Jose Manuel Barroso, though the situation in Europe remains "difficult".

EU concerned over German bank regulator: report — 03 January 2013, 13:32 CET

The European Commission is concerned that Germany's banking supervisor could be restricting the free flow of capital to lenders abroad, a newspaper report said on Thursday.

Eurozone manufacturing shrinks in December — 02 January 2013, 11:28 CET

Eurozone manufacturing activity contracted for a 17th month running in December, a key survey of business managers showed on Wednesday.

Europe is 'real risk' for global economy: Nobel laureate — 02 January 2013, 11:28 CET

Debt problems in both the United States and Europe represent the biggest risks for the global economy in 2013, Nobel prize laureate Joseph Stiglitz wrote in a newspaper article on Wednesday.

France, Belgium pump fresh capital into Dexia bank — 31 December 2012, 20:34 CET

Belgium and France have subscribed to a 5.5 billion euro injection of capital to bail out the Dexia bank, in line with a restructuring plan approved by the European Commission last week.

Spain faces EUR 207 bn headache in 2013 — 31 December 2012, 13:05 CET

Spain defied the markets by averting a sovereign bailout this year but high interest rates could yet force Madrid to its knees as the nation confronts a 207-billion-euro financing headache in 2013.

Germany's fabled chimney sweeps to try luck in free market — 30 December 2012, 14:12 CET

The new year will bring big changes to chimney sweep Norbert Skrobek and his tradition-steeped trade, as Germany overhauls the market after years of resistance against pressure from Brussels.

Tighter EU rules on budgets, deficits in force Jan 1 — 31 December 2012, 20:33 CET

The EU's 'fiscal compact,' a hard-won step towards tighter economic coordination agreed as part of efforts to tame the debilitating debt crisis, comes into effect on Tuesday.

EU clears latest Dexia restructuring plan — 28 December 2012, 15:50 CET

The European Commission has approved the latest, 90-billion-euros restructuring plan for Dexia, a Franco-Belgian bank bailed out at the height of the financial crisis which has struggled ever since.

Britain should leave EU: former Commission chief Delors — 28 December 2012, 15:54 CET

Britain could leave the European Union and enter into a different sort of partnership with the political and economic bloc instead, former EU Commission chief Jacques Delors said on Friday.

Italian rates edge upwards in EUR 8.5 bn debt auction — 27 December 2012, 17:43 CET

Italian borrowing rates rose slightly in a short-term debt auction that raised 8.5 billion euros political uncertainty ahead of a general election in February.

Worst of the euro crisis 'behind us', says German FM — 27 December 2012, 17:50 CET

German Finance Minister Wolfgang Schaeuble said he believes the embattled eurozone is already past the peak of its three-year-long debt crisis, citing positive developments in Greece and France.

France has obligation to reverse budget deficit: Moscovici — 27 December 2012, 17:50 CET

French Finance Minister Pierre Moscovici said Thursday his country had a "duty" to reverse years of budget deficits.

Euro survives 2012, further tests in store — 23 December 2012, 12:33 CET

The battered euro, written off as a dud many times during a crisis-wracked year, appears to have survived 2012, but 2013 could prove just as difficult if the economy continues to struggle.

Hungary bars foreigners from buying farmland — 22 December 2012, 23:32 CET

Hungary has amended its constitution to bar foreigners from buying farmland, a move the government called "historic," but one that could cause friction with the European Union.

Greece set to return to growth in 2014: ECB official — 21 December 2012, 17:08 CET

The Greek economy is likely to start growing again in 2014, a top European Central Bank official said in a newspaper interview released on Friday.

Germany says Dutch minister good candidate for eurogroup chief — 21 December 2012, 23:45 CET

German Finance Minister Wolfgang Schaeuble said Friday he considered his Dutch counterpart Jeroen Dijsselbloem as a good possible candidate to take over as head of the Eurogroup of finance ministers.

France needs more reform not austerity: EU's Rehn — 21 December 2012, 12:57 CET

EU Economy Commissioner Olli Rehn said Friday that France needed more reform rather than more austerity, suggesting a slower fiscal adjustment a day after the government's ability to meet its deficit target was called into question.

Bailout candidate Cyprus rules out debt haircut — 21 December 2012, 16:11 CET

Bailout candidate Cyprus on Friday ruled out any "haircut" on its debt in order to help pave the way for much needed financial aid.

Eurogroup, ECB rule out debt haircut for Cyprus — 21 December 2012, 19:27 CET

The Eurogroup of eurozone finance ministers and the European Central Bank ruled out Friday a partial debt write-off for Cyprus.

EU finds fault with Switzerland ties — 21 December 2012, 12:43 CET

The European Union is unhappy with Switzerland's practice of negotiating sector-by-sector accords, a policy which the EU says has reached its limits and should be reviewed.

Almunia recommends latest Dexia restructuring — 20 December 2012, 15:15 CET

EU Competition Commissioner Joaquin Almunia said Thursday he would recommend that the European Union approve next week the latest bank guarantee accord for bailed out Franco-Belgian lender Dexia.

EU clears restructuring of Spanish banks — 20 December 2012, 17:07 CET

The European Commission cleared restructuring plans and aid for four small Spanish banks on Thursday as part of efforts to stabilise the country's stricken banking system and help its economy.

Greece's Eurobank posts one-billion-euro loss over nine months — 20 December 2012, 10:18 CET

Greece's third-largest lender Eurobank on Thursday reported a net loss of 1.095 billion euros over the first nine months of 2012, after writing off six billion euros to help the country reduce its sovereign debt.

EU reforms urgent despite market calm: ECB board member — 19 December 2012, 17:28 CET

Reforms to restore economic stability in the European Union remain urgent despite a calming of the turmoil on financial markets, European Central Bank executive board member Joerg Asmussen said.