Political turbulence in Portugal, Italy, Greece and Spain is once again threatening Europe's fragile economy, the European Commission warned in its latest economic forecast, published on Thursday (4 February).
The Mediterranean island, divided since 1974, has hopes of reunification. The Greeks and the Turks re-opened talks in the spring of 2015, but an end to the dispute is still out of reach. Our partner La Tribune reports.
In an effort to tackle the refugee crisis, Commissioner for Regional Policy Corina Crețu decided on Wednesday (23 September) to let member states make more flexible use of certain EU funding programmes.
The European Commission denies a Greek claim that it rejected an official request by Athens for an extension of the 2007-2013 Multiannual Financial Framework. In the meantime, the debt-ridden country risks losing 1.4 billion euros.
The EU is stepping up its emergency funds for crises stemming from the growing number of refugees arriving to Europe. Greece is requesting aid through various EU channels after taking in more refugees last month than in all of 2014.
Eurozone finance ministers are set to meet this afternoon (14 August) to decide on a new bailout for Greece, after Greek lawmakers approved the third package since 2010 this morning following an all-night debate.
A new bailout should be agreed by late August, Greece's Prime Minister Alexis Tsipras and French President François Hollande said on Thursday (6 August). Greece is in negotiations with the European Union and International Monetary Fund for as much as €86 billion in fresh loans to stave off financial ruin and economic collapse.
Greece and its lenders discussing a third multi-billion-euro bailout deal have agreed that pension reforms will affect only those who retired after the end of June, labour ministry officials said on Monday (3 August).
Greece's stock market suffered heavy losses on Monday (3 August), plunging nearly 23% at the open before recovering slightly, after a five-week shutdown brought on by fears the country was about to be dumped from the euro zone. One fund manager described it as "herd behaviour" and said few people were buying.
Panos Skourletis, the new Greek energy minister, is tasked with a heavy reform agenda that could help revive the cash-strapped Greek economy and make the country return to growth. But the stakes are high.
Schaeuble's recent ideas are not likely to fly, but the controversy over the role of the Commission is only a part of a bigger debate in Europe: the dispute over what the future European Union should look like, write Stratfor's analysts.
EXCLUSIVE / At least half a million Greeks are unable to vote in a referendum widely perceived as a choice on whether or not to remain in the eurozone, unless they return to Greece before Sunday’s poll.
The Greek crisis is just the latest of one of more than 600 national debt crises worldwide since the 1950s, and makes a compelling argument for the creation of an international institution for the fair and orderly resolution of sovereign bankruptcy, writes Bodo Ellmers.