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31/07/2016

The threat of populism must be a non-issue in decision to fine Portugal and Spain

Euro & Finance


Euro & Finance 30-07-2016

No clean bill of health for EU banks in stress test

Banks from Italy, Ireland, Spain and Austria fared worst in the latest European Union stress test, which the region's banking watchdog said on Friday showed there was still work to do in order to boost credit to the bloc's economy. Eight years since the collapse of Lehman Brothers sparked a global banking meltdown, many of Europe's …

Euro & Finance 29-07-2016

Commission and IMF clash over influence of politics over bailout programmes

The European Commission has said that stabilising the eurozone was "eminently a political issue" after an independent probe into the IMF's handing of sovereign bailouts found it was vulnerable to pressure from governments.
Euro & Finance 29-07-2016

Internal auditor hits out at IMF handling of Greece bailout

An independent probe into the IMF's handling of European bailouts found that it bent its rules and was vulnerable to political pressure as it embarked on the ill-fated 2010 Greece rescue. The International Monetary Fund's Independent Evaluation Office (IEO) said in its report on Thursday (28 July) that in the plunge into the eurozone crisis, the …

Euro & Finance 29-07-2016

Italy and Spain lead the fight to conquer UK-based EU agencies

In the aftermath of the Brexit vote, Rome and Madrid are leading the race to gain the right to host influential EU agencies, while Croatia, Bulgaria, Cyprus, Romania and Slovakia could remain empty-handed.
Euro & Finance 28-07-2016

Commission split on credibility of rules as Spain and Portugal get ‘pardon’

A strong group of commissioners was in favour on Wednesday (27 July) of imposing at least a symbolic fine on Spain and Portugal for breaching the Stability and Growth Pact, but Jean-Claude Juncker opted for a zero penalty - supported by German Finance Minister Wolfgang Schauble.
Euro & Finance 27-07-2016

Canary Islands ask for exemption from Spanish deficit fines

The president of the Canary Islands has asked for the archipelago to be excluded from any potential suspension of European regional funds on account of Spain's failure to sufficiently cut its deficit. EurActiv Spain reports.
Euro & Finance 27-07-2016

George Soros: 'We need an EU that the UK would want to be a part of'

Business magnate George Soros is convinced that the EU needs to reinvent itself. In an interview with EurActiv's partner WirtschaftsWoche, he explained how Europe should deal with Brexit.
Euro & Finance 27-07-2016

Barnier, battler of British bankers, is Commission’s new Brexit boss

Michel Barnier, the former financial services Commissioner with a testy relationship with the City of London, will lead the Brexit negotiations with the United Kingdom, the European Commission announced today (27 July).
Euro & Finance 27-07-2016

EU readies contingency plan for possible Monte Paschi wind down

European Union authorities are making contingency plans for the possible winding down of Banca Monte dei Paschi if the Italian lender has a poor reading in stress tests this week and no private or public support is available, an EU official said.
Euro & Finance 27-07-2016

Italy and Spain test EU’s 'intelligent' use of economic rules

The European Commission is expected to fine Spain on Wednesday (26 July), but it will give two extra years to Madrid to adjust its budget - while the commissioners pledge a solution for Italian banks that will protect small investors.
Euro & Finance 26-07-2016

Has the Juncker Plan really boosted investment in Europe?

The Juncker Plan has put an end to Europe’s “investment breakdown”, according to the European Commission President. But many of its projects are no different to those normally financed by the European Investment Bank. EurActiv’s partner La Tribune reports.
Euro & Finance 26-07-2016

Upcoming EU budget debate is a chance to engage citizens

EU spending is highly complex and inflexible. An own resources budget would help the bloc respond to new challenges and better address the concerns of its citizens, writes Ivailo Kalfin.


UK & Europe 26-07-2016

Juncker tells UK: No single market without freedom of movement

Britain will need months of preparation before Brexit talks can start, EU Commission President Jean-Claude Juncker said on Monday (26 July), adding there would be no single market without accepting freedom of movement.
Euro & Finance 25-07-2016

LuxLeaks highlights need for whistleblower protection and incentives

The time has come for EU member states to decide how they will treat whistleblowers. Erika Kelton asks, will they embrace and encourage them, or will they perpetuate a culture of fear?
UK & Europe 22-07-2016

‘Dramatic deterioration’ in UK economy since Brexit

The British economy has suffered a “dramatic deterioration” in the four weeks since the UK voted to leave the EU, new figures on Friday (22 July) showed, prompting the country’s new Chancellor to warn he may have to “reset fiscal policy” in the autumn.
EU Priorities 2020 22-07-2016

EU budget for 2017: Cohesion down, security up

Payments for cohesion are down by 23.94% in the 2017 draft budget compared to 2016, but payments for the heading “Security and citizenship” are up by 24.42%. The Parliament is yet to give its opinion on what looks like an unusual budget.
Euro & Finance 21-07-2016

MEPs step in to ease sanctions over deficit rules

The European Parliament’s intervention “would benefit” Spain and Portugal, as they face the freezing of millions in EU funds for having breached fiscal rules, sources told EurActiv.com.
Euro & Finance 19-07-2016

German and French firms take biggest share of ECB credit splurge

The European Central Bank snapped up debt of blue-chip names such as BMW, Sanofi and BASF as Germany and France accounted for the lion's share of its first batch of corporate bond purchases.
Euro & Finance 19-07-2016

Commission’s private-sector ‘revolving door’ should work in public interest

Former Commission President Barroso’s job offer at Goldman Sachs has prompted outrage. But the real problem is the EU’s lack of transparency and democratic oversight. Interaction with the private sector through the so-called “revolving door” should be encouraged, write Katinka Brouwer, Penelope Bergkamp and Dr Lucas Bergkamp.
Euro & Finance 18-07-2016

Spain and Portugal pledge new measures to avoid EU deficit fines

Both Spain and Portugal have submitted their arguments to the European Commission in a bid to avoid penalties for breaching the fiscal rules, expected to be announced on 27 July.
Energy 18-07-2016

Multi-billion EU carbon market fraud operated from Poland

The founder of Poland's biggest carbon quota brokerage firm, whose name appeared in connection with the Panama Papers, has been found guilty of VAT fraud and sentenced to jail in France. Warsaw denies wrongdoing, calling the multi-billion fraud an "unfortunate incident". EurActiv France reports.
Euro & Finance 15-07-2016

Correcting the eurozone’s imbalances could save the EU

The eurozone’s problems are not just caused by poor management in the South, but by its asymmetrical architecture and unfair implementation of the rules. A fiscal capacity would level the playing field and answer the Eurosceptics, writes Ernest Maragall.
Euro & Finance 14-07-2016

UK Commissioner: After Brexit, resigning was the right thing to do

Britain’s outgoing Commissioner Jonathan Hill has said he resigned as a matter of principle after the UK’s vote to leave the European Union because the public feel that politicians do not take enough account of their opinions.
Euro & Finance 14-07-2016

The threat of populism must be a non-issue in decision to fine Portugal and Spain

Stability and Growth Pact rules must be applied to the letter if the eurozone is to keep any kind of credibility. Populism must not be used as an excuse to reward irresponsible budgetary policies, argues Friedrich Heinemann.