Euro & Finance

Economy & Jobs 15-11-2018

Italy sticks to its guns in revised budget submitted to EU

Italy defied Brussels again on Tuesday (13 November) as Finance Minister Giovanni Tria presented only a slightly modified draft budget, despite the European Commission rejecting the previous spending plan in an unprecedented decision.
Economy & Jobs 14-11-2018

Parliament urges Council to start negotiating on next EU long-term budget

The European Parliament laid down funding priorities for the next long-term EU budget on Tuesday (13 November) and urged the Council to agree on a common position so that talks be completed before next May. But differences still remain about the level of member states' contributions.
Banking union 13-11-2018

ECB to assess six Bulgarian banks as step towards Banking Union membership

European Central Bank (ECB) will conduct a comprehensive assessment of six Bulgarian banks as part of the Balkan country's bid to join the European Union's banking union, Bulgaria's central bank said on Monday (12 November).

Luxembourg reprimanded over slow transposing of money laundering laws

The European Commission has reprimanded Luxembourg once again for delays in transposing European anti-money laundering rules into its legislation. EURACTIV France reports.
Economy & Jobs 08-11-2018

No compromise on EU budget rules, Moscovici warns Italy

The EU’s Economics chief Pierre Moscovici insisted on Thursday (8 November) that there was little room for Brussels to compromise with the Italian government over its budget plans as he unveiled the European Commission's latest economic forecasts.
Banking union 08-11-2018

Greek banks’ foul play suspected in Bulgaria

A Greek bank bought the Bulgarian subsidiary of another Greek bank on Wednesday (7 November). The deal seems totally at odds with the terms of Greece’s bailout deal, but not only that.
Economy & Jobs 06-11-2018

Eurozone ministers urge inflexible Italy to drop budget defiance

Eurozone finance ministers urged Italy on Monday (5 November) to reverse course on its rule-breaking budget amid fears of market turmoil and a return of the debt crisis.
Digital 05-11-2018

Some countries ‘more comfortable’ with interim deal on digital tax, EU diplomats say

Some EU member states are likely to feel “more comfortable” with a temporary agreement on the EU’s digital tax plans rather than wait for international consensus, EU diplomats said on Monday (5 November), ahead of a meeting of EU finance ministers.
Economy & Jobs 02-11-2018

The euro ‘hawks’ want bigger say for crisis fund in cuts and reforms

The so-called Hanseatic League of EU countries called for a “strict conditionality” and more powers for the European Stability Mechanism over those countries requesting assistance to avert a full-blown crisis.
Banking union 02-11-2018

Europe’s top banks in EU stress test spotlight

Europe's top banks will learn on Friday (2 November) how they have fared in their latest stress test, which could require some to raise capital or shed assets, with Italian lenders expected to come under close scrutiny.
Digital 26-10-2018

Wary of crypto, UK government blocks Royal Mint’s digital gold

Britain’s Royal Mint has frozen plans to launch a digital gold token after a partnership with U.S. exchange group CME failed and the government vetoed a plan to have the tokens trade on a cryptocurrency exchange, three sources told Reuters.
Politics 26-10-2018

Former IMF chief to serve four years in prison over ‘black cards’ case

Former managing director of the International Monetary Fund and ex-Finance minister of Spain Rodrigo Rato entered into prison on Thursday (25 October) to serve four-and-a-half-years term over ‘black cards’ case.
Economy & Jobs 26-10-2018

Commission eyes FinTech to boost euro’s role on global stage

New pan-European payment instruments, including solutions based on emerging technologies in the financial sector or FinTech, are a part of the European Commission’s plan to boost the euro's standing in international markets.
Economic governance 26-10-2018

French people barely comforted by positive economic conditions

France tends to develop in the opposite direction to the rest of the eurozone and the economic lights are now on green. However, French morale tells a very different story and the international situation raises concerns among economic forecasters. EURACTIV France reports.  
Economy & Jobs 25-10-2018

Draghi ‘confident’ about a deal on Italian budget

European Central Bank President Mario Draghi expressed his confidence on Thursday (25 October) about the likelihood of an agreement between the European Commission and the Italian government over Rome's spending plan for next year.
EU Elections 2019 25-10-2018

European funds: What next for the Polish economy?

European funds were one of the factors that helped Poland avoid the serious effects of the financial crisis. Negotiations on the new seven-year financial framework have already begun in the European Parliament. The outcome could have a major effect on how Poles vote in next May's elections.
Economic governance 25-10-2018

Italian budget standoff may consign eurozone integration drive to slow lane

An uncompromising challenge to EU budget rules by Italy is providing the first big test for reforms introduced to save the euro zone nine years ago as financial crisis threatened to tear it apart.
Economy & Jobs 25-10-2018

Bruegel: EU needs anti-money laundering body with staff of hundreds

The European Union should set up a new agency to counter money laundering after a series of high-profile cases at banks bared weaknesses in the system, an influential think-tank said in a report, urging full disclosure of fines imposed on wrongdoers.
Economy & Jobs 25-10-2018

Course unchanged for ECB as growth worries bubble under

The European Central Bank seems certain to keep policy unchanged on Thursday (25 October) but likely to acknowledge the growth outlook is deteriorating, even if not yet enough to derail a carefully crafted retreat from stimulus.
Economic governance 24-10-2018

German economy booms but Brexit and US clouds are on the horizon

The German economic powerhouse is booming. But its export-centric model is drawing complaints from other eurozone countries and the United States.
Economic governance 23-10-2018

Commission rejects Italian draft budget in unprecedented decision

The European Commission rejected Italy’s 2019 budget in an unprecedented decision on Tuesday (23 October), after the government in Rome failed to give a substantial response to the executive's allegations of a breach of the EU law.
Economic governance 23-10-2018

Italy and Brussels meet head-on over budgetary dispute

The European Commission prepares to reject Italy's budget on Tuesday (23 October) due to an “unprecedented” breach of EU fiscal rules. But Rome sticks to its guns and presented the breach as a “difficult but necessary decision” taken by the government.
Economy & Jobs 22-10-2018

Italian populist government braces for EU budget rejection

The Italian government expects the European Commission to decide for the first time ever on Tuesday (23 October) to ask a member state to revise its draft budget, a government source said on Sunday.
Economy & Jobs 18-10-2018

Italy’s ‘unprecedented’ breach of fiscal rules clouds euro summit

Euro-area leaders agreed on Thursday (18 October) to accelerate the work to bolster the monetary union as the European Commission questioned half a dozen member states’ efforts to balance their public accounts, particularly Italy.