Germany's free borrowing is 'destroying Europe'

23.05.12 @ 19:47

European Parliament chief Martin Schulz has launched a scathing attack on the German chancellor for promoting policies he says drive the borrowing costs of other euro-countries up, while Germany has just hit a record zero-percent interest rate on its bonds.

Highlights

Merkel and Hollande to 'let off steam' at EU summit

23.05.12 @ 09:29

EU leaders in Brussels on Wednesday are likely to see a sharp exchange of views on eurobonds between France's new President and the German Chancellor.

EU commission to outline plans for political union

22.05.12 @ 17:16

The European Commission has said it will soon bring forward plans for an economic and political union it says is necessary for the creation of eurobonds - currently the subject of heated exchange between Berlin and Paris.

Obama endorses French ideas ahead of EU summit

22.05.12 @ 09:08

US leader Obama has effectively taken France's side against Germany in the EU debate on the financial crisis.

EU to put online market reform at the heart of consumer strategy

23.05.12 @ 22:53

The European Commission has put reforming the continent's digital market at the heart of a drive to improve consumer rights, amid concerns about the efficiency of the online single market.

German bank tables plan for parallel Greek euro

22.05.12 @ 09:26

Financial giant Deutsche Bank has floated the idea of a "geuro" - a parallel currency allowing Greece to devaluate while staying in the eurozone.

Brussels tests out youth jobs scheme

21.05.12 @ 18:05

The European Commission has launched a €4 million pilot project to help 5,000 young people find jobs in other EU countries.

EU statistics office to double-check Spanish deficit

21.05.12 @ 17:51

Eurostat is sending experts to Spain to check why its 2011 deficit is worse than previously declared.

Hollande to confront Merkel on eurobonds at EU summit

21.05.12 @ 09:24

French leader Hollande has said he will call for joint eurozone debt at Wednesday's EU summit, despite German opposition.

Spain hit by downgrades amid Greek contagion fears

18.05.12 @ 07:27

Spain's economic woes deepened on Thursday as 16 of its banks and four regions were downgraded by Moody's, while statistics confirmed the country is still in recession, just as fears about a Greek euro-exit are running high.

Euro fears rise as Greeks withdraw money from banks

16.05.12 @ 17:44

Greeks have withdrawn billions of euros from their banks in recent days, with the country's president warning of "panic" at the prospect of the country leaving the eurozone. Markets are equally jittery, pushing Spain closer to a bail-out.

Infrastructure scheme set for go-ahead before EU summit

21.05.12 @ 17:18

A pilot phase for European infrastructure projects - part of plans to kickstart growth in Europe - is expected to be agreed ahead of a mid-week meeting of EU leaders in Brussels.

Obama presses EU leaders on growth

20.05.12 @ 21:28

A weekend summit of G8 leaders stressed the need for the eurozone to focus on keeping Greece inside the euro. But plans are reportedly being drafted to deal with its potential exit.

European Commission should be EU government, says Germany

17.05.12 @ 09:01

The EU needs to become more integrated with a common finance policy and a central government, German finance minister Wolfgang Schaeuble has said. The UK leader is set to make similar comments on Thursday.

Tax commissioner lets rip against Austria and Luxembourg

16.05.12 @ 09:36

"Completely unjustifiable ... grossly unfair ... a mystery" - the EU commission and Denmark have given Austria and Luxembourg a tongue-lashing for protecting tax evaders.