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Eurozone News

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.

Eurozone GDP growth steady at 0.3 percent in Q3

Brussels - Growth in the eurozone remained stable at 0.3 percent in the third quarter of 2016 as inflation rose to a 27-month high, official data showed on Monday.

Eurozone approves 2.8 bn euros in bailout funds for Greece

Luxembourg - Eurozone officials announced Tuesday they have approved 2.8 billion euros for Greece from its huge third bailout after the cash-strapped nation delivered the needed reforms.

Greece says EU-IMF rift stalling Greek debt solution

Thessalon - A rift between the EU and the International Monetary Fund on the way to tackle the Greek debt crisis is delaying its solution, Greek Prime Minister Alexis Tsipras said on Sunday.

Spain proposes tax hike to dodge EU deficit fine

Madrid - Spain's acting Economy Minister Luis de Guindos on Tuesday proposed hiking corporate taxes to avoid a fine from the European Commission for repeatedly failing to bring government deficits into line.

Eurozone slams Spain, Portugal on excessive deficits

Brussels - Eurozone finance ministers agreed Monday to officially declare Spain and Portugal in breach of the EU public spending rules, a key step to possibly imposing unprecedented penalties against members of the currency bloc.

Eurozone weighs Brexit amid 'Little Britain' warning

Brussels - Eurozone finance ministers assessed on Monday the impact of the British decision to leave the EU, warning that the country risked becoming "Little Britain" in the aftermath.

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.
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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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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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President Barack Obama following the US-EU Summit in Washington, November 2011
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Eurozone is lost in translation as EU collapses

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