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Eurozone News

ECB chief hits elusive inflation target in own pay packet

Frankfurt Am Main - As European Central Bank President Mario Draghi battles to bring inflation towards 2.0 percent, the institution's annual report showed Thursday his target was met in at least one place last year -- his pay packet.

Smooth-talking Draghi hopes to fend off currency war

Frankfurt Am Main - A euro at three-year highs against the dollar will have financial markets hanging on European Central Bank president Mario Draghi's every word on Thursday, putting pressure on him to play down talk of reducing stimulus to the eurozone economy.

Greece gets fresh cash on road to leaving bailout

Brussels - Eurozone finance ministers approved a fresh cash injection for Greece on Monday to put the country on the road to finally leaving its long and painful bailout programme later this year.

Greece gets fresh cash on road to leaving bailout

Brussels - Eurozone finance ministers approved a fresh cash injection for Greece on Monday to put the country on the road to finally leaving its long and painful bailout programme later this year.The 6.

Eurozone to reward Greece for controversial reforms: sources

Brussels - Greece on Friday won a green light for more bailout cash from its eurozone creditors after pushing through a wave of controversial reforms that drew angry strikes and protests earlier this week.

New Eurogroup chief promises reform plan by June

Frankfurt Am Main - The Eurogroup must negotiate quickly on eurozone reform to be ready for action to shore up the single currency area by June, the new head of the finance ministers' grouping said Wednesday.

Economists call for overhaul of eurozone fiscal rules

Paris - Leading economists from France and Germany on Wednesday called for new fiscal rules for the eurozone and the creation of an independent watchdog to help to make the single currency more resilient against crises in the future.

In ECB's 2020 vision, inflation goal elusive

Frankfurt Am Main - The European Central Bank upgraded its growth and inflation forecasts for the coming years Thursday but stood by its massive support to the economy, with President Mario Draghi saying it won't reach its cherished price growth target by 2020.

ECB to play up eurozone strength at steady-as-she-goes meeting

Berlin - The European Central Bank will highlight economic strength in the eurozone in new forecasts Thursday, analysts expect, while avoiding spooking markets with talk of further cuts to its massive support for the economy.

Brussels defends eurozone overhaul despite divided EU

Brussels - The European Commission unveiled its vision of a rebooted eurozone on Wednesday, including the creation of a European version of the IMF, but stepped back from its more ambitious ideas amid misgivings from powerful Germany.

Brussels to unveil eurozone reform vision despite doubts

Brussels - The European Commission will unveil a raft of ideas to reform the eurozone on Wednesday, despite the resistance of powerful Germany, which remains without a government.

Battle to lead Eurogroup reaches climax

Brussels - Eurozone finance ministers pick the replacement for Eurogroup chief Jeroen Dijsselbloem on Monday, with four countries led by Portugal battling for the challenge of guiding the eurozone currency bloc through much needed reforms.

Last tango for Eurogroup chief Dijsselbloem

Brussels - Jeroen Dijsselbloem, who steps down as chair of the Eurogroup on Monday, rose from obscurity to become an unflappable dealmaker who helped guide Europe through the worst of the Greek debt crisis.

Race to head Eurogroup heats up

Brussels - Negotiations are heating up ten days ahead of the election of a new president of the Eurogroup, whose job will be to shepherd major reforms to the eurozone currency bloc.

German crisis 'can't stop' euro reforms: commissioner

Brussels - Germany's political crisis "cannot stop our work" and the EU will push ahead with plans to reform the euro after Brexit, the European Commission's euro chief vowed in an interview on Tuesday.

Britain frozen out as EU finance chiefs plot future

Brussels - European Union finance ministers meet without Britain in Brussels on Monday to try to iron out their differences on plans to reform the euro in the wake of the shock Brexit vote.

Eurogroup head Dijsselbloem to step down in January

Luxembourg - Dutch Finance Minister Jeroen Dijsselbloem said Monday he will step down as head of the Eurogroup in January, leaving vacant one of the most influential jobs in the eurozone at a key moment.

Personalised banknotes for Schaeuble's farewell party

Luxembourg - Eurozone finance ministers deluged German Finance Minister Wolfgang Schaeuble with farewell gifts on Monday as the man who inspired Europe's austerity answer to the debt crisis attended his last meeting with them.

Draghi to calm waters ahead of easy-money exit

Frankfurt Am Main - European Central Bank chief Mario Draghi will carefully prepare markets for a long-awaited end to the institution's easy-money policy Thursday, analysts expect, but stop short of calling time immediately.

Merkel ready to consider Macron eurozone reform ideas

Berlin - German Chancellor Angela Merkel said Tuesday she was prepared to consider proposals by new French President Emmanuel Macron for a shake-up of the eurozone.

Brussels maps out more unified eurozone

Brussels - Encouraged by the victory of French President Emmanuel Macron, the EU on Wednesday unveiled a raft of controversial ideas for improving the often dysfunctional European single currency.

Eurozone fails to reach Greece debt deal amid IMF row

Brussels - Eurozone finance ministers failed to reach a deal for fresh bailout cash for Greece on Monday, as a row with the International Monetary Fund over debt relief dragged on.

Le Pen plan to jettison euro spooks French business

Paris - The euro -- and her fervent wish to withdraw from it -- is a central theme of every stump speech by French far-right presidential candidate Marine Le Pen, topping her list of 144 election pledges.

Eurogroup chief regrets drinks remarks but won't quit

Brussels - Eurogroup chief Jeroen Dijsselbloem on Wednesday expressed "regret" over his comments that southern European countries blew their money on "drinks and women" but rejected calls to resign.

Greece agrees to bailout reforms compromise: EU sources

Brussels - Greece on Monday agreed to a compromise on new reforms in a bid to break a deadlock with its EU-IMF creditors and free up new bailout funds, EU sources said.

Five reasons the Greek debt crisis is back

Brussels - After Brexit stole the limelight last year, the spectre of Grexit is back.Greece, the eurozone and IMF are in a three-way Mexican stand-off over a review of the country's 86 billion bailout agreed in July 2015, its third since 2010.

Tsipras warns IMF, Germany to stop 'playing with fire' over Greek debt

Atenas - Greek Prime Minister Alexis Tsipras on Saturday warned the International Monetary Fund and German Finance Minister Wolfgang Schaeuble to "stop playing with fire" in the handling of his country's debt.

Brussels talks fail to end Greece bailout impasse

Brussels - Talks between Greece and its creditors ended with no breakthrough Friday as months of feuding with the International Monetary Fund raised fears of a new debt crisis.

Greece bailout 'credible' despite IMF criticism: EU

Brussels - The EU on Tuesday insisted Greece's economy remained on track despite a withering opinion by the IMF that Athens's debt was "unsustainable" and calling for further European debt relief.

Eurozone growth and inflation surge, adding to pressure on ECB

Brussels - Growth in the eurozone accelerated, inflation rose towards the ECB's key target and unemployment fell to a seven-year low as the bloc's economy shrugged off uncertainty over Brexit and US President Donald Trump.
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Prolonged economic weakness  brought on by a U.S. default on its obligations would result in negativ...
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