Greek lawmakers on Thursday (18 May) approved pension cuts and tax hikes sought by the country's lenders to unlock vital financial aid, as angry demonstrators protested outside parliament over new austerity, the latest since the country plunged into crisis seven years ago.
Spain's conservative government has added its voice to calls for deeper integration in the eurozone, suggesting to Brussels in a paper that members of the bloc should pool some aspects of their debt management and share a budget to fight crisis shocks.
After cheering Emmanuel Macron's win over his far-right rival in the French presidential election, a row has broken out within German Chancellor Angela Merkel's coalition government over how to respond to his calls for closer European integration.
European Commission chief Jean-Claude Juncker on Monday (8 May) called on France's incoming president Emmanuel Macron to cut public spending, saying its current policies involved too much money going to wrong things.
Eurozone governments will consider medium-term debt relief for Greece as promised in a statement in May 2016 once Athens implements the reforms it agreed to earlier this week, a eurozone official said on Thursday (4 May).
Despite an agreement reached Tuesday (2 May) on a reform package, Europe still needs to provide "credible" debt relief to Greece before the International Monetary Fund can provide more financing, an IMF official said.
Greece's prime minister held out for a commitment from lenders to debt relief on Tuesday (25 April), and said he was confident new talks in Athens over a long-stalled bailout review would reach a deal by a 22 May target.
The Italian and Greek governments are counting on France's likely next president Emmanuel Macron to help them see off populist parties that blame European Union-enforced austerity and open immigration policies for economic and social ills.
Martin Schulz will not change Germany's approach to austerity if elected chancellor later this year. Neither has he ruled out Greece leaving the eurozone if reforms are not implemented. EURACTIV Germany reports.The Social Democrat leader and former European Parliament president told the Financial Times that the prospect of Greece leaving the single currency …
The European Central Bank judged yesterday (10 April) that it had a successful 2016, claiming in its annual report that it had nurtured economic recovery and that it was the eurozone’s most successful post-crisis year.
The European Central Bank needs greater oversight and more accountability, as it has strayed into the realm of political decision-making but without the necessary scrutiny, global watchdog Transparency International said in a report on Tuesday(28 March).
Eurogroup chief Jeroen Dijsselbloem on Wednesday (22 March) expressed "regret" over his comments that southern European countries blew their money on "drinks and women" but rejected calls to resign, despite a growing chorus of indignation.
Italy's plans to bail out two regional banks pose a dilemma for European regulators, who are still considering whether Monte dei Paschi qualifies for state aid, three months after giving a preliminary green light.
Romania’s regional development minister has told the nation’s mayors that there is no more money left for co-financing European projects, since the limit has already been reached and the country tries to keep its deficit under 3%. EURACTIV Romania reports.
Acting Dutch Finance Minister Jeroen Dijsselbloem said yesterday (20 March) that he would have a discussion with his eurozone colleagues about his continuation as Eurogroup president, following the electoral debacle of his party in The Netherlands.
CIVICO-Europa, an informal group set up by opinion leaders and later supported by politicians, presented today (20 March) a manifesto for the future of Europe, based on “doing much better together”, rather than the traditional way of “doing more”.
The European Stability Mechanism (ESM) – the eurozone's bailout fund – should ultimately be turned into a European version of the International Monetary Fund IMF, according to the head of eurozone finance ministers.
Jeroen Dijsselbloem could well lose his role as chair of the EU body coordinating eurozone policy after his party was routed in the Dutch election. But there is a chance he could retain his position even if he is no longer finance minister in a new coalition.
The economic imbalances of the eurozone are undermining citizens’ confidence in the European project. Cutting Germany’s trade surplus could help redress the balance, Jérôme Creel said in an interview with EURACTIV France.
The Greek economy is still in crisis, contracting 1.2% in the quarter. The figures, published by the Greek statistics agency, Elstat, show it was the worst quarter since the summer of 2015, when the European Central Bank closed the Greek banks.