Tag: Eurogroup

As Wolfgang Schäuble moves closer the Eurogroup's chair, people close to him say such an appointment would mark the crowning of his career for the German finance minister who is often referred to as the last true European in Angela Merkel's government.

Eurozone finance ministers have dropped plans for holding a face-to-face meeting today (15 February) on Greece's new international bailout, saying party leaders in Athens failed to provide the required commitment to reform. 

Eurozone finance ministers approved leverage methods of the Financial Stability Facility (EFSF) last night (29 November) although details remained hazy over the involvement of the International Monetary Fund and the European Central Bank in future bailout schemes.

A new institutional set-up for the eurozone's economic governance will take centre stage at the next EU summit in mid-October. Ahead of this crucial meeting and cornered by increasing pressures to hand over powers to member states, the European Commission is entertaining the idea of one of its own getting the Eurogroup's top position.

The 'developments' concerning IMF chief Dominique Strauss-Kahn will not have an impact on any of the bailout programmes for Greece, Ireland or Portugal, the European Commission insisted today (16 May).

Just ahead of an EU summit starting tomorrow (25 March), Germany signalled for the first time that it may accept European financial aid for Greece as a last resort, but only if the IMF is involved and eurozone partners accept tougher budget discipline rules.

EU finance ministers yesterday (15 February) gave the European Central Bank's vice presidency to a southern European, Portugal's Vitor Constâncio, paving the way for a northern European to win the hotly contested presidency of the bank.