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MEPs accuse commission of blocking EU statistics 'whistleblower'

07.04.14 @ 09:25

Talks aimed at increasing transparency on EU statistical output have collapsed after the European Commission refused to apply the rules it demands of national statistical offices to its own statistical agency. Lawmakers ...

Eurozone ministers agree to pay Greece €8.3bn

02.04.14 @ 08:56

Eurozone finance ministers agreed to pay out €8.3 billion of Greece's bailout package on Tuesday (1 April), bringing to a close a protracted battle between the Athens government and its creditors over the latest round ...

Common debt fund needs EU treaty change: report

01.04.14 @ 10:01

The EU treaties and democratic constraints block the way to establishing a fund to pool eurozone debt, according to a European Commission report released Monday (31 March). The report by a commission expert group led by ...

EU ElectionsGermany in renewed push for EU treaty change

28.03.14 @ 09:50

German finance minister Wolfgang Schaeuble has said discussions on revising the treaty to secure the eurozone's architecture will begin after the May EU elections. "After the EU elections the debate about treaty change ...

Charity documents 'human cost' of EU austerity

27.03.14 @ 18:01

Evidence gathered by Caritas Europa, a network of charities working with the most deprived, shows that the impact of austerity programmes in Cyprus, Greece, Ireland, Italy, Portugal, Spain and Romania has " ...

Czech government backs EU fiscal pact

25.03.14 @ 09:28

The Czech government has agreed to adopt the EU's fiscal pact, as the new centre-left administration of Prime Minister Bohuslav Sobotka continues to tread a more pro-EU path than his predecessors. The decision, taken ...

MEPs: Troika undemocratic, European Monetary Fund needed

13.03.14 @ 14:21

The European Parliament is calling for the creation of an EU monetary fund to replace the "undemocratic" troika of international lenders. In a non-binding report voted Thursday (13 March) in Strasbourg, MEPs set out the ...

Stiglitz: ECB should scrap inflation targets

07.03.14 @ 09:34

The European Central Bank (ECB) should scrap its target to keep price inflation at 2 percent, Nobel prize winning economist Joseph Stiglitz said on Thursday (6 March). Speaking at an event organised by the European ...

Italy and France on EU's economic 'watch list'

06.03.14 @ 11:15

Italy and France were the major euro area countries put on the European Commission's economic "watch-list" over fears about persistently high debt and deficit levels. The two countries were among 14 nations deemed to ...

ECB monitoring effects of Ukraine confrontation

04.03.14 @ 09:18

The European Central Bank (ECB) is monitoring the possible economic effects of the Ukraine-Russia crisis, ECB chief Mario Draghi told EU lawmakers on Monday (3 March). During a hearing at the European Parliament that ...

'Antici protocols' shed light on EU crisis summits

27.02.14 @ 10:00

EU summits are a tiresome affair. The Cypriot President had to install a bed in his delegation room to take a nap now and then during the all-nighters discussing Greek bailouts or other pressing euro-matters. France's ...

EU recovery "gaining ground", commission says

25.02.14 @ 18:22

The EU's economic recovery will gather speed in 2014 and 2015, the European Commission predicted on Tuesday (25 February), indicating that the worst of the economic storm which hit Europe is over. "Recovery is gaining ...

MEPs redouble attack on bailout 'troikas'

25.02.14 @ 10:01

MEPs investigating the troika of international lenders in bailout countries have said it was marred by conflicts of interest and lacked democratic accountability. The economic affairs committee on Monday (24 February) ...

EU ElectionsControversial author praises German anti-euro party

24.02.14 @ 18:38

Thilo Sarrazin is an unusual politician. A member of the German Social Democrats since 1974, he became a household name in 2010 after publishing his best-selling "Deutschland schafft sich ab" (Germany is doing away with ...

Troika to return to Greece in search of debt deal

18.02.14 @ 09:10

Greece's creditors will return to Athens later this week in a bid to conclude the latest review of the country's €240 billion bailout programme, eurozone finance ministers agreed on Monday (17 February). Officials from ...

ReviewThat German court decision

14.02.14 @ 09:29

There is a long-standing tradition in politics of only dealing with something when really necessary. Why put your hand in a political hornet’s nest now, when others, down the line, could do it instead? It's a tradition ...

MEPs accuse troika of causing 'social tsunami'

14.02.14 @ 09:28

The troika caused social devastation by forcing eurozone crisis countries to ignore social and welfare standards, MEPs have said. Deputies on the European Parliament's employment committee backed a report by Spanish ...

AnalysisWould a eurozone committee enrich the EU parliament?

12.02.14 @ 19:16

The European Parliament seems likely to create a new committee specifically for the eurozone when MEPs convene in July for the first meetings of the new legislature. The idea, set out in a letter from Sharon Bowles, the ...

OECD admits failure to understand scale of eurozone crisis

12.02.14 @ 10:00

Failure to appreciate the scale of Europe's banking crisis led to the most significant economic forecasting errors since the oil crisis in the 1970s, the Organisation for Economic Co-operation and Development has said. ...

Ministers time-wasting on bank union talks, MEPs say

06.02.14 @ 21:15

MEPs have accused EU finance ministers of delaying tactics in negotiations on a single resolution fund for eurozone banks. Deputies in Strasbourg voted on Thursday (6 February) by a strong margin to back a parliament ...

Wilders report: Dutch families would be €10,000 better off out of EU

06.02.14 @ 17:55

Leaving the European Union would boost the Dutch economy by between 10 and 13 percent, and be worth nearly €10,000 per household, according to a report commissioned by Geert Wilders' Freedom party. The study, published ...

Schaeuble sees need for separate eurozone parliament

29.01.14 @ 09:29

German finance minister Wolfgang Schaeuble has laid out ideas on how the single currency area should evolve, including having a eurozone parliament. "Some of the changes will reflect the new realities of the eurozone. ...

Lithuania expresses 'will' to join euro in 2015

28.01.14 @ 19:37

Lithuania is determined to become the 19th member of the eurozone in 2015, the country's finance minister confirmed on Tuesday (28 January. "We have expressed our will to be in the eurozone," finance minister Rimantas ...

Eurozone ministers impatient on Greek bailout review

28.01.14 @ 09:29

Greece came under renewed pressure to reach a deal with creditors on the latest round of cuts and economic reforms at a meeting of eurozone finance ministers in Brussels on Monday (28 January). Troika officials ...

ReviewRemorseless troikas

17.01.14 @ 09:27

“The parliament, the place where the heart of Europe beats:” Such mindless flattery never heralds a frank exchange. And so it was with Jean-Claude Trichet, the former ECB chief asked to appear before MEPs to give an ...

MEPs issue threat over bank resolution plan

17.01.14 @ 08:57

The European Parliament is prepared to pull the plug on plans for a common rule book to wind up failed banks, deputies said on Thursday (16 December). Ministers reached agreement in December on a new authority to deal ...

MEPs call for dismantling of EU bailout 'troika'

16.01.14 @ 09:58

The "troika" of international lenders, which sets the terms of eurozone bailouts with little or no democratic oversight, should be replaced by an EU system which is accountable to the European Parliament, MEPs say. "All ...

Former ECB chief blames governments for euro-crisis

14.01.14 @ 21:39

The former head of the European Central Bank (ECB), Jean-Claude Trichet, has blamed EU governments for what he called the "worst economic crisis since World War II” and said the eurozone is still at risk. Trichet, who ...

EU commissioner defends work of bailout 'troika'

14.01.14 @ 09:30

In a two-hour long grilling by MEPs on Monday (13 January) in Strasbourg, EU economic affairs commissioner Olli Rehn defended the work of the troika of international lenders: the European Commission, the European ...

AnalysisGreece in search of dignity, as crisis subsides

13.01.14 @ 18:28

After more than four years of international humiliation as the result of an economic crisis that has piled innumerable indignities on its people, Greece is keen to restore some national pride. "Our common quest" is the ...

New €10 banknote to circulate from September

13.01.14 @ 13:23

The European Central Bank (ECB) will start circulating a new 10-euro banknote from 23 September, ECB board member Yves Mersch told press on Monday (13 January). It will be more colourful than its predecessor and is ...

Troika bullied Cyprus and Portugal, MEPs say

13.01.14 @ 09:48

The troika of international lenders "held a gun to the head" of Cyprus and Portugal and showed little sympathy for social measures, an MEP looking into its work has said. "Both countries had very little room for ...

AgendaMEPs put troika in spotlight this WEEK

10.01.14 @ 17:38

MEPs gathering in Strasbourg this week will hold hearings with key officials from the so-called troika of international lenders (European Commission, European Central Bank and International Monetary Fund) about their ...

Juncker battles to secure EU nomination

09.01.14 @ 19:23

Jean-Claude Juncker - who chaired eurozone meetings for some 10 years and who, until last year, was the EU's longest-serving prime minister - has again said he is keen to be the next European Commission chief. "I would ...

Approval of EU leadership lowest in Greece

08.01.14 @ 17:35

Support for the EU was lowest in Greece in 2013 while Spain registered the sharpest drop in support between the beginning of the economic crisis in 2008 and last year. A survey published Wednesday (8 January) by Gallup ...

Latvia heralds 'big opportunity' as it joins eurozone

02.01.14 @ 19:56

Latvia became the 18th country to join the eurozone on Tuesday (1 January). Joining the currency is "a big opportunity for Latvia's economic development," Prime Minister Valdis Dombrovskis said as he became the first ...

ReviewBig pain for small gain in the eurozone

02.01.14 @ 10:40

The past year was better than 2012, at least as far as the eurozone economy is concerned, but not much better. First, the good news. Europe came out of its double-dip recession, even if the 0.2 percent growth it saw in ...

Greece will exit bailout in 2014, PM says

31.12.13 @ 09:24

Greece will exit its bailout agreement in 2014 and will not need any further loans, Greek Prime Minister Antonis Samaras said on Monday (December 30). In an address on national television, Samaras declared that Greece ...

Slovenia: Bank tests treated as military secret

30.12.13 @ 09:18

Bank stress tests indicate that Slovenian lenders do not need a bailout, but private consultancies played a controversial role in the evaluation. The test results, published last month and accompanied by positive ...

Ratings agency downgrades EU on summit day

20.12.13 @ 17:20

Standard&Poor's, one of the leading US-based ratings agencies, on Friday (20 December) downgraded EU's rating by one notch to AA+, citing concerns over how the bloc's budget was funded. "In our opinion, the overall ...

Merkel's reform contracts pushed back until October

20.12.13 @ 01:46

The German idea of binding economic reform contracts in return for yet-undefined funding has been pushed back until October 2014, as other EU leaders either opposed or did not fully understand the concept. "I am ...

Draghi sceptical on German bank union plan

17.12.13 @ 09:28

European Central Bank (ECB) boss Mario Draghi has given a sceptical reaction to a German-led compromise on banking union, saying that it could create a regime "that is single in name only." Speaking at a hearing with ...

InvestigationTroika consultancies: A multi-million euro business beyond scrutiny

16.12.13 @ 09:23

Alvarez and Marsal, BlackRock, Oliver Wyman, Pimco: The names mean nothing to the average European. But the financial consultancies have played a central role in all the eurozone bailouts and have so far invoiced ...

'We can't go mad again' - the reality as Ireland leaves its bailout

14.12.13 @ 08:14

Ireland will become the first eurozone country to exit a bailout on Sunday when it completes its €67.5 billion three-year programme. However, those hoping that this brings an end to an austerity programme that has seen ...

ReviewPlaying at a British EU exit

13.12.13 @ 09:21

Since the British Conservatives announced they want to hold an in/out EU referendum in 2017, it seems everyone else is giving more thought to what a Brexit could look like than the potential absconders themselves. So it ...

Eurozone unemployment down first time since 2011

29.11.13 @ 17:54

Unemployment in the eurozone fell for the first time since February 2011, according to figures released on Friday (29 November). The jobless rate fell to 12.1 percent in October 2013, according to EU statistical agency ...

Greece to stay in recession, warns OECD

28.11.13 @ 09:30

The Greek economy will stay in recession in 2014 for the seventh consecutive year, according to the OECD. The Paris-based Organisation of Economic Co-operation and Development (OECD) think-tank forecasts a further 0.4 ...

Spain and Italy get leeway on budget targets

23.11.13 @ 08:51

Spain and Italy were among eurozone countries told to stiffen their budgets for 2014 on Friday if they want to meet the EU's rules on debt and deficits. The meeting of eurozone finance ministers in Brussels on Friday ( ...

OpinionIreland and Greece prove the naysayers wrong

22.11.13 @ 17:37

Irish Premier Enda Kenny has announced his country will exit its bailout programme in December. When he took office in 2011, Ireland’s budget deficit was over 30 percent of GDP. Narrowing it to projections of 7.3 ...

Greece to push through 2014 budget without creditors' approval

21.11.13 @ 18:21

Greece's 2014 budget is set to hit the statute book without the approval of the country's creditors, after the country's government tabled its spending plans to the Greek parliament. The Greek government tabled its ...