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The euro - the EU single currency

Latest news about the European Union's single currency.

Sterling rallies after Brexit optimism - Euro currency news daily
Thursday saw GBP perform better than it has done in the past 3 months against its major peers.

EU support programme helps Greece towards financial stability
Greece has shown steady recovery since it successfully concluded its European Stability Mechanism support programme to restore financial stability and promote growth and job creation, the EU said Tuesday.

EU bank stress test too feeble: auditors
The latest bank stress test by the European Banking Authority should have been more demanding in testing banks' resilience to systemic risks across the EU, the EU Court of Auditors said on Wednesday.

Euro drop hits cost of living for Europeans in USA
Europe now accounts for less than a fifth (19 per cent) of the world’s most expensive cities, with 11 European cities dropping out of the top 100, according to ECA International's latest Cost of Living report.

Banks fined over EUR 1bn for foreign exchange cartel
The EU Commission fined five banks - Barclays, RBS, Citigroup, JPMorgan and MUFG - EUR 1.07 billion Thursday for taking part in two cartels in the Spot Foreign Exchange market for 11 currencies.

ECB must allow full scrutiny of banking supervision: EU auditors
The European Court of Auditors called Monday on EU legislators to intervene and ensure the European Central Bank allows full access to documents for audits related to banking supervision.

EU's single currency turns 20 years old
The euro, Europe's common currency, turned 20 on 1 January 2019. 11 EU states launched the euro in January 1999, introducing a shared monetary policy under the European Central Bank.

#EUROat20
20 years ago, on 1 January 1999, 11 EU countries fixed their exchange rates, adopted a shared monetary policy under the European Central Bank, and launched a new common currency on world financial markets: the euro. Three years later, euro notes and coins entered into circulation. Today, the euro is the currency of 19 EU countries, over 340 million EU citizens and the second most important currency in the world.

Brussels seeks stronger global role for euro
The EU Commission put forward a number of initiatives Wednesday to boost the global role of the single currency, seeking to challenge the dollar's global dominance, particularly in the energy sector.

Third Progress Report on risk reduction and the declining trends as regards non-performing loans
The European Commission reported on 28 November for the third time on the progress achieved on risk reduction efforts.

EU states ease rules for dealing with bad loans
EU Member States agreed a softer position Wednesday on capital requirements applying to banks with non-performing loans (NPLs) on their balance sheets, in preparation for talks with the EU Parliament.

Non-performing loans (NPLs)
EU and national authorities are joining forces to address the risks related to high stocks of NPLs in Europe. Non-performing loans, or “NPLs”, are bank loans that are subject to late repayment or are unlikely to be repaid by the borrower.

European banks offer fees transparency from 31 Oct
New EU rules for banks and financial services providers, in force from 31 October, require them to be more transparent and open about the fees they charge related to opening and maintaining bank accounts.

Access to bank accounts
EU rules allow consumers to open and change bank accounts anywhere in the EU. The directive on payment accounts gives people in the EU the right to a basic payment account regardless of a person's place of residence or financial situation. The directive also improves the transparency of bank account fees and makes it easier to switch banks.

Progress in the Reduction of Non-Performing Loans in Europe
The European Commission has welcomed the headway made in tackling non-performing loans (NPLs) in the EU as part of ongoing work at the national and EU level to reduce remaining risks in parts of the European banking sector.

ECB retains supervision over Credit Mutuel: EU Court
The major French cooperative bank Credit Mutuel remains under prudential supervision of the European Central Bank, following a ruling Wednesday by the European Court of Justice.

Profits of Europe's SMEs on the rise: ECB survey
Smaller businesses in Europe have reported increasing profits for the first time since the beginning in 2009 of a European Central Bank survey, which also reports a higher willingness of banks to lend.

New EU e-payments rules to make shopping safer
The revised payment services directive, adopted Monday by the EU Commission, is designed to provide consumers with more convenient and innovative payment solutions, whether buying in shops or online.

Payment Services Directive (PSD2): Regulatory Technical Standards
The European Commission adopted on 27 November 2017 rules designed to make electronic payments in shops and online safer. This will also allow consumers to access more convenient, cost-effective and innovative solutions offered by payment providers.

UK's EU agencies set for Amsterdam, Paris after Brexit
EU 27 ministers on Monday selected Paris as the new seat for the European Banking Authority, and Amsterdam as the new seat for the European Medicines Agency, to following Britain's exit from the EU.

Brussels pushes ahead with banking risk-reduction package
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
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
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
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
European Commission publishes assessment of Member State offers to host European Banking Authority and European Medicines Agency after Brexit