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Eurozone News

Central bank outsider Lagarde to chart new ECB course

Frankfurt Am Main - IMF chief Christine Lagarde may be breaking ground as the first woman to be nominated as head the European Central Bank, but her political background and lack of central bank experience raise important questions about monetary policy independence in h...

EU states adopt 'panda bonds' in Chinese outreach

Paris - EU members Hungary, Poland, Portugal and soon Austria are strengthening ties with China by issuing attractive "panda bonds" that help Beijing raise its profile on international financial markets.

ECB under pressure to ease growth, inflation fears

Vilnius - European Central Bank chief Mario Draghi is expected to outline plans on Thursday to offer fresh assistance to banks and hint at further options to counteract rising worries about growth and inflation in the eurozone.

ECB debates switching course before change of helmsman

Frankfurt Am Main - Politics will have an unusually large role in picking a new chief for the European Central Bank this year, as the switchover coincides with European Parliament elections and the choice of a new Commission.

Estonia's new far-right finance minister goes to Brussels

Tallinn - Known more for strident nationalist and anti-immigrant rhetoric than a strong line on fiscal policy, Estonia's new far-right finance minister Martin Helme is due to attend his first Eurogroup meeting in Brussels on Thursday.

ECB to hold course as threats to growth linger

Frankfurt Am Main - The European Central Bank will hint Wednesday at moves to support the eurozone economy but stop short of new action, analysts expect, as the Frankfurt institution eyes lingering political risks.

Eurozone delays Greece debt relief over reforms

Apo - Eurozone ministers on Monday held back granting Greece debt relief because the government failed to implement reforms promised during the massive bailout that ended last year, officials said.

Latvia central banker gets green light to travel abroad

Riga - Latvian prosecutors on Tuesday said they had temporarily lifted a travel ban on the eurozone country's central bank chief who is facing bribery charges, allowing him to attend a board meeting of the European Central Bank.

Eurozone growth shudders on trade worries, French protests

Paris - Global trade war fears and disruptions caused by anti-government protests in France pushed business growth in the eurozone to a four-year low in December, an influential survey showed Friday, raising concerns the region's economy might stall.

End of an era as ECB set to withdraw crisis-fighting stimulus

Frankfurt Am Main - A chapter of eurozone history will come to a close Thursday, with the European Central Bank widely expected to withdraw a key element of support for the economy while reassuring observers fearful of the growing risks.

EU finance ministers reach eurozone reform deal

Apo - EU finance ministers agreed reforms to better fight against a financial crisis on Tuesday that fell short of the original ambitions to relaunch Europe by French President Emmanuel Macron.

Italy sticks to big-spending budget in high-stakes EU standoff

Rome - Italy's populist government defied the European Commission Tuesday by sticking to its big-spending budget plan, risking financial sanctions in a high-stakes standoff with Brussels.

Italy to defy EU over big-spend budget

Milan - Italy's populist government was set Tuesday to defy the European Commission, preferring to risk financial sanctions than revise its big-spending budget.

Italy vows to keep euro despite Brussels standoff

Rome - Italy will not leave the eurozone, populist Deputy Prime Minister Luigi Di Maio said on Friday, despite a standoff with Brussels over Rome's big-spending budget.

Rome says Brussels 'failed' with Italy economy forecast

Milan - Italy's finance minister on Thursday rejected a European Commission forecast that its deficit would balloon thanks to its big-spending budget as a "technical failure".

EU commissioner denounces 'fascist' Italian MEP after shoe scene

Paris - European Economics Commissioner Pierre Moscovici on Friday stepped up his criticism of an Italian politician who symbolically "trampled" the commissioner's notes rejecting Italy's budget.

EU rejects Italy's budget in eurozone first

Strasbourg - The European Commission on Tuesday rejected Italy's draft 2019 budget, the first time the EU executive has ever sent a member state back to the drawing board over spending plans.

Italian PM to EU: 'No room' for modifications on budget

Apo - Italian Prime Minister Giuseppe Conte warned Wednesday that Rome would not change a government budget for 2019 that defies EU rules, putting Rome on a collision course with Brussels.

Greece hails new post-bailout chapter but concerns remain

Atenas - Greece turned a page on eight years of spending cuts and three straight international bailouts on Monday but experts warned that the country's economic challenges are far from over.

Has the eurozone learned from its Greek odyssey?

Apo - Greece will formally turn the page on its debt saga this week, but the eurozone remains vulnerable to further crises, with economists particularly worried about the situation in Italy.

Greece emerges from bailouts relieved, but not euphoric

Atenas - The youngest Greeks may not be able to remember what life was like beforehand: the third and last of the country's international bailouts comes to an end on Monday, and while Greece is faring better, it still bears the scars of eight years of austerity...

Greece gets last bailout tranche as crisis nears end

Apo - Greece received on Monday the final 15-billion-euro payment from its eight-year bailout programme in what creditors hailed as proof that tough austerity measures were "paying off.

Bulgaria edges closer to joining euro

Apo - Bulgaria, the European Union's poorest country, moved a step closer to joining the euro on Thursday.

EU slashes eurozone growth forecast on US trade war tensions

Apo - The EU on Thursday slashed its growth forecast for the eurozone in 2018, warning that the rising trade tensions with the United States were hitting the economy.

'Differences' persist on eurozone budget ahead of key EU summit

Apo - Eurogroup head Mario Centeno warned Monday of differing opinions towards a plan by France and Germany to establish a eurozone budget, ahead of a key EU summit to discuss the matter.

Greece hails 'historic' deal to end debt crisis

Atenas - Greek Prime Minister Alexis Tsipras on Friday hailed an agreement by Eurozone ministers that will put an end to the country's eight-year bailout program as an "historic" step.

Greece 'turning a page' as eurozone agrees debt relief

Atenas - The Greek government on Friday said the country was "turning a page" after eurozone ministers declared its crisis over as they granted Athens debt relief under a bailout exit strategy.

Greece crisis declared 'over' as eurozone agrees debt relief

Luxembourg - Eurozone ministers declared the end of the Greek debt crisis early Friday agreeing debt relief and a big cash payout for Greece, part of a broad bailout exit deal that will close eight years of financial rescues for cash-strapped Athens.

Greece creditors agree debt relief in bailout exit deal

Luxembourg - Eurozone ministers agreed debt relief and a big cash payout for Greece early Friday, part of a broad exit deal that will close eight years of austerity and bailouts for Athens.

Germany pockets 2.9 bn euros from Greece bailouts

Frankfurt Am Main - Germany has earned some 2.9 billion euros ($3.5 billion) since 2010 on Greek debt bought to help the struggling country, a government report seen by AFP showed Thursday.
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President Barack Obama following the US-EU Summit in Washington  November 2011
President Barack Obama following the US-EU Summit in Washington, November 2011
Eurozone is lost in translation as EU collapses
Eurozone is lost in translation as EU collapses
Trade unions in Belgium believe the Eurobonds can bring relief to the troubled Euro.
Trade unions in Belgium believe the Eurobonds can bring relief to the troubled Euro.
Prolonged economic weakness  brought on by a U.S. default on its obligations would result in negativ...
Prolonged economic weakness, brought on by a U.S. default on its obligations would result in negative implications for the global economy.
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