Euro & Finance

Economy & Jobs 24-09-2018

Third of EU financial secrecy comes from inside its borders, report finds

People or firms in the European Union that wish to keep their financial affairs secret more often find the services they require inside the EU than in one of the tax havens blacklisted by the bloc, the Tax Justice Network (TJN) said on Sunday (23 September).
Economy & Jobs 14-09-2018

The unfinished work to avoid another Lehman Brothers

In the ten years that have passed since the fall of Lehman Brothers, Europe has improved its banking regulation but the financial system remains vulnerable. Europe commemorates the tenth anniversary with a solid growth. But experts consulted by EURACTIV.com warn...
Elections 14-09-2018

Salvini slams Moscovici after Mussolini jibe

The EU's top economic official said on Thursday (13 September) he feared "little Mussolinis" might be emerging in Europe, drawing a furious response from Italy's far-right interior minister who accused him of insulting his country and Italians.
Future EU 12-09-2018

Juncker to propose breaking dollar’s dominance in global markets

European Commission President Jean-Claude Juncker is expected to propose today (12 September) a bigger role for the euro in international markets and more efficient decision-making in EU foreign policy in his state of the union speech, European diplomats said.
Future EU 11-09-2018

Judging Juncker: From first speech to last

Before Jean-Claude Juncker's final State of the Union address to this European Parliament on Wednesday (12 September), EURACTIV takes a look at his first speech from 2015 to see how the Commission president has done over the last three years.

EU admits anti-money laundering rules inefficient, prepares for improved supervision

As recent scandals proved that the new anti-money legislation falls short of monitoring financial flows, the EU is leaning toward stepping up the supervision and enforcement of its rules.
Global Europe 06-09-2018

Latvia: The thriller passes through the central bank

Murder, wire-tapping in a sauna and bribes: the corruption case involving the central bank of Latvia resembles a real Baltic thriller. EURACTIV France reports with a third article in our series on Latvia. 
Economy & Jobs 05-09-2018

Europe moves towards a common approach to regulate cryptoassets

European decision-makers and regulators are progressing towards an EU approach for dealing with cryptoassets, digital assets that use cryptography such as Bitcoin and represent a booming market still viewed with concern by financial supervisors.
Economy & Jobs 05-09-2018

Latvia: When the United States scolded the ‘Switzerland of the Baltics’

Latvian bank Rietumu has been hit with a fine of €80 million by French judges for having laundered hundreds of millions of euros. EURACTIV France reports in the second part of its Special Report on Latvia.
Economy & Jobs 04-09-2018

Latvia: The governor’s corruption undermines the ECB

Having been put under investigation for corruption at the end of June, the governor of Latvia's central bank is the third member of the ECB governing council to have been implicated in murky deals over the past year. EURACTIV France reports.
Economy & Jobs 04-09-2018

Italy on collision course with EU over budget deficit

Party leaders in the Italian coalition government signalled they will seek leeway from the EU to increase next year's budget deficit, heading on a collision course with the European Commission and investors who want it cut.
Economy & Jobs 03-09-2018

Italy sends mixed signals to jittery markets after debt downgrade

Italy's new anti-establishment government sent contradictory signals to financial markets on Sunday (2 September) amid increasing concern Rome could breach EU spending limits as it comes under pressure to fulfil its anti-austerity electoral promises.
Elections 29-08-2018

Oettinger warns Italy not to block EU budget talks

It is in no one's interest to hold up budget negotiations at the European Union, the bloc's budget chief warned Tuesday (28 August) after Italy threatened a blockade over the migrant issue.
Economy & Jobs 27-08-2018

Investors ignore Trump support for Italy as bond yields rise

Italian bond yields matched their highest level over Spain since 2012 on Friday (24 August) as the economic and fiscal trajectories of the two countries diverge and investors ignored supportive comments for Italy from US President Donald Trump.
Elections 23-08-2018

Cyprus insurer’s bankruptcy sends shockwaves through Bulgaria

The liquidation of Cyprus’ Olympic Insurance, largely unnoticed on the island, is sending shockwaves through Bulgaria as it has left almost 200,000 policyholders with no coverage, causing a serious political crisis.
Economy & Jobs 22-08-2018

German FM: EU needs payment systems independent of US to keep Iran deal alive

Europe needs to set up payment systems independent of the United States if it wants to save the nuclear deal between Iran and major powers that was abandoned by President Donald Trump, German Foreign Minister Heiko Maas has said.
Economy & Jobs 22-08-2018

Clouds gather for Europe in run up to 10th anniversary of financial crisis

Discrepancies between Italy and the EU over its expenditure, the trade dispute with the US and political quagmires such as the Brexit talks and the migration challenge cloud EU prospects ahead of the tenth anniversary of the collapse of Lehman Brothers.
Banking union 20-08-2018

ECB fines France’s Credit Agricole over capital reserves

The European Central Bank announced on Monday (20 August) that it had fined French lender Credit Agricole a total of €4.8 million over past irregularities in the way it declared its capital reserves, Reuters reports.
Economy & Jobs 20-08-2018

Commitments have to be respected, EU tells Greece

Greece will now be “a normal country” but the reforms and the ambitious fiscal targets agreed with its lenders must be respected,  the Commissioner for economic affairs, Pierre Moscovici, said on Monday, the day the Hellenic nation exited its bailout programme.
Economy & Jobs 20-08-2018

Has the eurozone learned from its Greek odyssey?

Greece will formally turn the page on its debt saga this week, but the eurozone remains vulnerable to further crises, with economists particularly worried about the situation in Italy.
Economy & Jobs 20-08-2018

Greece exits bailout programme but faces hard times ahead

Greece concluded its rescue programme on Monday (20 August), marking a milestone in its recent history and the end of the most difficult period for the euro area, but analysts and officials said the country faces an uphill struggle to maintain its economy sustainable.
Economy & Jobs 10-08-2018

Greece’s unemployment falls under 20% after 7 years of bailout

Greece's unemployment rate, the highest in the European Union, has dropped below 20% for the first time in seven years, statistics bureau Elstat reported on 9 August.
Economy & Jobs 09-08-2018

Italy’s economy minister: Lower growth, higher deficit next year

Italy on Wednesday (8 August) cut its forecasts for economic growth and said the country's public deficit this year and in 2019 would be larger than previously forecast, potentially lining it up for a clash with Brussels.
Elections 03-08-2018

Renewed Italian government tensions fuel bond selloff

Short-dated Italian government bonds sold off on Friday (3 August) for the second straight day on signs of deepening tension within the Italian government that is raising the prospect of new elections.