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Eurozone News

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.

Eurozone ministers seek end to Greece bailout odyssey

Luxembourg - Eurozone ministers will on Thursday try to resolve their differences over the terms of Greece's departure from its massive bailout programme with splits over the degree of debt relief needed by cash-strapped Athens.

France, Germany close to agreement on eurozone reform

Paris - Paris and Berlin are very close to an agreement on eurozone reform after months of divisions, French Finance Minister Bruno Le Maire has said.

'Exciting' ECB meet could bring end to bond-buying

Frankfurt Am Main - The European Central Bank may announce Thursday a timetable for withdrawing its massive support for the eurozone economy, analysts say, although looming threats to the bloc could stay its hand for a few more weeks.

Merkel open to EU migration reform, cautious on eurozone

Frankfurt Am Main - German Chancellor Angela Merkel said Sunday she was more open to French President Emmanuel Macron's plans to reform migration and defence policy in Europe than his hopes to bolster the euro.

Merkel offers Macron concessions on eurozone reforms

Berlin - German Chancellor Angela Merkel delivered a long-awaited answer to French President Emmanuel Macron's call for ambitious European Union reforms Sunday, offering olive branches on investment and help for debt-mired eurozone member states.

Merkel offers Macron concessions on eurozone reforms

Berlin - German Chancellor Angela Merkel delivered a long-awaited answer to French President Emmanuel Macron's ambitious call for European Union reforms Sunday, offering olive branches on investment and help for debt-mired eurozone member states.

EU says Italy must deliver 'credible' response to debt problem

Apo - The European Union warned Wednesday that Italy must reduce spending to cut down its enormous debt pile in a direct challenge to the eurosceptic and populist government set to take office in Rome.

EU hands France's Macron deficit victory

Apo - The EU officially recommended that France be removed from Brussels' public spending penalty box after more than a decade, handing a win to French President Emmanuel Macron in his push to gain the trust of austerity-pushing Germany.

Eurozone growth slows sharply in first quarter: EU

Apo - Growth in the eurozone slowed in the first quarter this year, data showed Wednesday, adding to fears that the recovery in Europe was losing steam.

EU says 'decision time' for stalled eurozone reforms

Sofia - A top EU official on Friday urged member states to paper over differences and commit to eurozone reforms that have been stalled amid deep splits between France and Germany.

ECB keeps massive stimulus in place as trade headwinds rise

Frankfurt Am Main - European Central Bank chief Mario Draghi warned Thursday of storm clouds on the horizon for the eurozone as fears mount of a global trade war, prompting the bank to keep its massive stimulus scheme in place.
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Eurozone is lost in translation as EU collapses
Eurozone is lost in translation as EU collapses
President Barack Obama following the US-EU Summit in Washington  November 2011
President Barack Obama following the US-EU Summit in Washington, November 2011
whitehouse.gov
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.
Madhu babu pandi