Banking union

Economy & Jobs 24-05-2018

Commission’s bond-backed product gets lukewarm reception

Financial representatives poured cold water on Thursday (24 May) on the European Commission’s proposal to create sovereign bond-backed securities (SBBS), insisting that not all the elements exist yet for a successful market for the product.
Economy & Jobs 23-05-2018

Commission demands ‘credible response’ from Italy to reduce debt

The European Commission on Wednesday (23 May) approved Italy’s efforts to balance its public accounts but asked the new government for a “credible response” in order to further reduce its immense public debt.
23-05-2018

Commission to pour cold water on Bulgaria’s Eurozone ambition

Euro-hopeful Bulgaria does not yet meet the criteria to adopt the single currency, the European Commission will say today (23 May) in an assessment of European Union countries that must one day switch to the euro.
27-04-2018

Bulgaria’s Borissov unveils secret criteria for joining the eurozone

Bulgarian Prime Minister Boyko Borissov said he apologises for revealing a secret, but that the Bulgarians should know about the main additional condition for the country’s accession to the eurozone.  
Economy & Jobs 26-04-2018

ECB sees ‘loss of momentum’ in eurozone’s economic growth

ECB President Mario Draghi said on Thursday (26 April) that all eurozone countries experienced “some moderation in growth or loss of momentum” over the past weeks, as the institution is carefully reassessing how to exit the unconventional monetary measures adopted during the crisis.
City of London skyline at sunset
Brexit 24-04-2018

Commission defends ‘equivalence’ with UK for financial services

European Commission Vice-President Valdis Dombrovskis told the UK’s financial sector on Tuesday (24 April) that the EU and UK regimes could co-exist together after Brexit, but warned that London would not have a say in the decision-making process.
Economy & Jobs 20-04-2018

Merkel urges ‘compromise’ on eurozone reform

Germany's Angela Merkel called for a spirit of "compromise" on reforming the euro zone at a meeting on Thursday (19 April) with French President Emmanuel Macron, who pressed for "solidarity" among members of the currency union.
Economy & Jobs 19-04-2018

Macron visits Merkel in bid to salvage eurozone reform plans

French President Emmanuel Macron heads to Berlin Thursday (19 April) for talks with Chancellor Angela Merkel, hoping to breathe fresh life into his grand vision for EU reforms in the face of growing German resistance.
16-04-2018

Not all Macron’s EU reforms possible, German finance minister says

German Finance Minister Olaf Scholz said EU reforms proposed by French President Emmanuel Macron should be addressed before European elections next year, but added that some of the proposals were not feasible.
10-04-2018

ECB admits negative effect of monetary stimulus on German and Spanish banks   

Amid growing concerns about the profitability of eurozone banks, the ECB said that the monetary decisions adopted after the financial crisis had a neutral effect on the money houses of the single currency area, except for German and Spanish lenders.
06-04-2018

Banks urged to improve IT systems to cope with crisis

Banks should invest more in IT infrastructure because providing quality data immediately makes all the difference when a bank needs to be resolved in an orderly fashion, the EU's Single Resolution Board has said.
27-03-2018

Banks should charge customers higher fees, says ECB

Banks should increase fees and commissions to customers to survive in the low interest rate environment, the ECB has argued in a new report.
Economy & Jobs 23-03-2018

Eurozone leaders pledge to conclude banking union by June

Friday's eurozone summit ended with an agreement to finalise the banking union by June, but the future of the fiscal union remains unclear as leaders remained divided.
14-03-2018

EU requests more capital to banks to cover for ‘bad loans’

The European Commission on Wednesday (14 March) proposed new measures requesting banks to raise more capital against loans turning ‘toxic’ and to develop a European market to sell ‘bad loans’ weighing down their books.
Economy & Jobs 14-03-2018

Europe’s reform push faces reality check

The impulse to bolster the eurozone, sparked by Emmanuel Macron’s victory in France almost one year ago, is losing its vigour as political instability persists and a group of countries have solidified their opposition to bold changes.
Economic governance 07-03-2018

Commission passes the ball on sovereign debt rules

European Commission Vice-President Valdis Dombrovskis said on Wednesday (7 March) that he does not intend to amend the regulatory treatment of sovereign debt held by banks following inconclusive discussions at international level.
Brexit 23-02-2018

Bulgarian presidency seeks to ease new rules on foreign banks

The European Union has been urged by its Bulgarian presidency to ease proposed new regulations on foreign banks within the block to bring them in line with US requirements, EU documents showed yesterday (22 February).
Global Europe 21-02-2018

Latvian defence ministry says corruption claims may be disinformation campaign

Corruption allegations that led to the suspension of Latvia's central bank governor yesterday (20 February) may be part of a disinformation campaign aimed at damaging trust in the country and influencing October elections, its Defence Ministry said.
Economic governance 20-02-2018

Eurogroup picks ‘pragmatic’ De Guindos for ECB vice-presidency

Eurozone finance ministers chose Spanish Economy Minister Luis de Guindos to become the next vice-president of the European Central Bank (ECB), marking the return of Spain to top EU posts after the country lost its chair in the bank's Executive Council.
02-02-2018

Grim scenario for bank stress tests, says EU watchdog

The European Banking Authority has launched its third wave of stress tests conducted on 48 European banks. EURACTIV's partner La Tribune reports.
18-01-2018

Berlin demands clarity on risk reduction for banking union

Germany said on Wednesday (17 January) that eurozone members should first agree on clear parameters for reducing risks in the banking sector before progress can be made toward completing a banking union through a deposit insurance scheme in the currency bloc.
16-01-2018

EU auditors blame ECB for not providing evidence

EU auditors censured the European Central Bank on Tuesday (16 January) for refusing to provide “important evidence” needed to assess its key role in the supervision of Europe’s largest banks.
Economy & Jobs 12-01-2018

Turning the page on the eurozone crisis: Economy and Finance in 2018

On the tenth anniversary of the financial crisis, the European Union will definitively turn the page on the worst economic crisis in its history with the closure of the Greek rescue programme and the last excessive deficit procedures, while adopting the biggest overhaul of its financial sector in years.
Economy & Jobs 15-12-2017

Macron convinces Merkel to hold key debate on future of euro in March

Amid the political paralysis in Germany, EU leaders decided on Friday (15 December) to postpone for March a “strategic political discussion” on the future of the eurozone and adopt a 'reform roadmap' in June.