Tag: eurozone crisis

Crisis-hit southern countries are selling state-owned goods to reduce their budget deficits, with Spain mulling the privatisation of national heritage sites and Greece is under pressure to have historical buildings managed by a foreign holding company.

The Czech Republic escaped from recession in the second quarter while the European Union's other bigger eastern economies improved, though still looking short of consumer optimism needed to drive a stronger upturn

Within one week in June, Cypriot Andrew Georgiou suffered a massive heart attack and his father was diagnosed with leukaemia, just as they were fighting to recover much of their life savings wrapped up in the country’s EU-led bailout.

Representatives of eurozone finance ministers signed off on the payment of the next batch of aid for Greece on Friday (26 July) and the money will be disbursed on the approval of member states on Monday, eurozone officials said.

Spanish Prime Minister Mariano Rajoy yesterday (15 July) rejected calls to resign over a financing scandal in his ruling centre-right People's Party, saying he would not allow the matter to hold back his reform plans.

The European Union needs to strengthen itself internally if it is to become a global power, two former EU commissioners and an ex-president of the European Parliament told a conference in Warsaw. EurActiv Poland reports.

Having managed to reach deals on banks and the long-term budget, EU leaders have started their two-day summit somewhat relieved, as they embark on talks to tackle youth employment, finance much-needed investments and boost growth. EurActiv obtained the draft conclusions. Read our live coverage, below.

Eurozone finance ministers agreed on Thursday (20 June) how its European Stability Mechanism (ESM) can invest in troubled banks, but imposed so many conditions that they may not completely succeed in their goal of separating problem banks from their indebted home countries.

German Finance Minister Wolfgang Schäuble warned on Tuesday (28 May) that failure to win the battle against youth unemployment could tear Europe apart, and dropping the continent's welfare model in favour of tougher US standards would spark a revolution.

Bankers called yesterday (23 May) for faster implementation of the proposed banking union in Europe, saying the delay is stalling the region's recovery and hampering its financial sector.

The 22 May EU summit dedicated to energy issues should clearly transform the prevailing talking mode in the energy and climate framework into action mode, Jean-Claude Depail, tells EurActiv.

Greece has threatened high school teachers with arrest if they go ahead with a nationwide strike that would disrupt university entrance exams that start this week, the official government gazette said.

Iceland's anti-EU centre-right parties began talks yesterday (28 April) to form a new administration, promising to end years of austerity and provide debt relief to households, but haggling over which one of them will lead the government continues.

Europe is better now than three years ago as the crisis has forced EU leaders towards further integration, Staffan Nilsson told EurActiv at the end of his mandate as president of the European Economic and Social Committee.

The European Commission will propose early payments to Cyprus from the EU budget for 2014-2020 and some other measures to help address its soaring bailout needs, says a letter from Commission President José Manuel Barroso to the country’s President Nicos Anastasiades. 

Social dialogue is under great strain throughout the EU because of the economic crisis, with Eastern Europe particularly hard hit, says a report presented by the European Commission yesterday (11 April).