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.
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.