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Eurozone News

Greece in debt relief breakthrough with eurozone, IMF

Brussels - Eurozone finance ministers reached a vital deal with Greece on Wednesday to start debt relief for Athens as demanded by the International Monetary Fund, and to unlock 10.3 billion euros ($12 billion) in bailout cash.

Greece creditor agreement 'in coming days': EU commissioner

Brussels - Greece and its EU-IMF creditors will reach a deal to release the next tranche of its 86-billion-euro bailout "in the coming days", said a senior EU official on Monday after talks in Brussels.

Eurozone hopes for Greece debt deal in late May

Atenas - Eurozone finance ministers on Monday gave themselves until May 24 to reach a divisive deal on debt relief for Greece after lawmakers in Athens adopted tough reforms demanded as part of the country's bailout.

Crunch Eurozone talks on Greece debt deal

Brussels - Eurozone finance ministers hold an emergency meeting on Monday to try to thrash out a difficult deal on fresh reforms for Greece as fears grow of a repeat of last year's chaotic bailout negotiations.

Finnish parliament debates petition on leaving eurozone

Helsinki - The Finnish parliament is debating whether Finland should leave the Eurozone after 53,000 people signed a petition asking that parliament debate the issue.

Next Eurogroup meeting on Greece to take place May 9: Athens

Atenas - The next meeting of eurozone finance ministers to discuss Greece's massive bailout will be held in Brussels on May 9, Athens said Thursday.

New Eurogroup Greece meeting within next two weeks: Dijsselbloem

Paris - Eurogroup chief Jeroen Dijsselbloem on Wednesday said the next Eurogroup meeting of eurozone finance ministers to discuss debt-crippled Greece could take place within the next two weeks."I don't have a deadline.

ECB chief Draghi hints interest rates could be cut still further

Frankfurt - European Central Bank chief Mario Draghi hinted Thursday that eurozone interest rates, already at new all-time lows, would fall even lower in the future if area-wide inflation does not pick up soon.

'Crystal clear' that deal includes no eurozone veto for UK: Juncker

Brussels - European Commission chief Jean-Claude Juncker said Friday that a deal to reset Britain's relations with the EU does not include giving London a veto over eurozone issues."There will be no veto and the text makes that crystal clear," he said in Brussels.

EU warns migrant crisis could disrupt growth

Brussels - The EU warned on Thursday that any suspension of the bloc's Schengen passport-free zone due to Europe's worst migrant crisis since World War II could disrupt the eurozone's sluggish recovery.

ECB set to boost stimulus measures

Frankfurt - The European Central Bank is widely expected to step up efforts to kick start chronically low inflation in the euro area at a meeting Thursday, but analysts warn the measures could fall short of market expectations.

Eurozone bailout rescues Greece's top bank

Luxembourg - The eurozone's bailout fund rescued Greece's largest bank on Tuesday, launching a recapitalisation process that is a crucial part of the country's third loan programme in five years.The European Stability Mechanism unlocked 2.72 billion euros ($2.

France warns won't meet EU deficit targets as steps up security spending

Paris - France warned Tuesday it won't meet its EU deficit obligations as it steps up spending on security in the wake of the Paris terror attacks.

Greek banks must find up to 14.4 bn euros after ECB stress test

Frankfurt - Four major Greek banks must find up to 14.4 billion euros ($15.8 billion) to survive potential economic shocks, the European Central Bank said, releasing the results of an in-depth financial health check.

Op-Ed: Stormy weather — Financial review

The S&P 500 gained 2.1 percent for the week; its fourth straight weekly gain; moving into positive territory year to date. For the week, the Dow rose 2.5 percent and the NASDAQ gained 3 percent.

ECB to keep gunpowder dry in Malta, despite deflation fears

Valletta - The European Central Bank looks set to keep its key rates steady and refrain from any additional stimulus measures at a meeting in Malta on Thursday, despite concern about chronically weak inflation, analysts said.

Triple whammy threatens Eurozone Special

New York - Three recent crises — the Greek bailout, the surge of refugees and Russian intervention in Ukraine — have called into question the future of the European Union. All these crises involve boundaries – either building them up or tearing them down.

Forex markets looking at Greece, investors look to U.S.

The news from Greece of a shutdown put fear into investors and the euro dipped as a result against the dollar. Analysts are looking toward reliable US data, while China's situation worsens.

Op-Ed: From Grexit to Brexit?

The Greeks have spoken, categorically rejecting Troika-imposed austerity, and further entrenching Athens and Berlin behind their respective battle lines.

ECB to hold emergency meeting on Greek bank funding: sources

Frankfurt - The European Central Bank's decision-making governing council will hold an emergency session Friday to discuss a request from the Bank of Greece for an increase in liquidity to Greek banks, sources familiar with the matter told AFP.

Scores injured in anti-austerity riots against ECB's new HQ

Frankfurt - Violent clashes between anti-capitalist activists and German police left dozens injured and a trail of destruction in Germany's financial capital as the European Central Bank opened its new headquarters on Wednesday.

ECB opens new HQ under heavy police presence

Frankfurt - The European Central Bank officially inaugurates its new 1.3-billion euro headquarters in Frankfurt on Wednesday, under tight security with more than 10,000 anti-austerity demonstrators planning a protest rally.

ECB to launch long-awaited QE gambit

Berlin - In what may be its best and last chance to stimulate growth and ward off deflation across the eurozone, the European Central Bank on Monday will launch its long-awaited 1.1 trillion euro ($1.2 trillion) quantitative easing programme.

FTSE 100 sets record on Tuesday but fails to hold it on Wednesday

After approval of economic reform proposals submitted by Greece helped the FTSE 100 reach record-breaking levels yesterday, it has fallen back considerably throughout the course of today, with shares in some major companies dropping by nearly 10 percent.

ECB approves 60 bn euros in emergency funds for Greek banks

Frankfurt - The European Central Bank has given the green light to make up to 60 billion euros ($68.5 billion) in emergency liquidity available to Greek banks, a source close to a national central bank told AFP on Thursday.

ECB rings in new year with QE fireworks

Frankfurt - The European Central Bank began 2015 with a bang Thursday, launching a massive trillion-euro bond purchase programme to ward off deflation and end stagnation in the eurozone economy.

Banks preparing for possible Grexit

Athens - Both banks and brokers are dusting off contingency plans for a possible Greek exit from the eurozone (Grexit). While most think that Greece will remain in the zone, the snap elections to take place January 25 may make such an exit more likely.

Eurozone 'no longer has to rescue Greece': German MP

Berlin - Europe no longer needs to rescue Greece as the country has lost its "systemic relevance" to the eurozone and its power of political "blackmail," a senior German lawmaker said Wednesday.

European stocks shaken by fears of return to crisis

London - European stocks closed mixed on Thursday, with German shares staging a late comeback after fears the eurozone could be heading toward a fresh crisis spread turmoil through markets for much of the day.London's benchmark FTSE 100 index ended down 0.

IMF reduces global growth projection for 2015

Washington - The International Monetary Fund(IMF) reduced its projected global growth number for next year to 3.8 percent from 4 percent in July. The downgrade resulted from continued economic weakness in the Eurozone and a slowdown in several emerging markets.
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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.
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President Barack Obama following the US-EU Summit in Washington  November 2011
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