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.
The investigation into the governor of the central bank of Latvia has put the last country to have entered the Eurozone under the spotlight. EURACTIV carries out a four-part investigation into the Switzerland of the Baltic states.
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.
Chancellor Angela Merkel is focusing on securing the European Commission presidency for a German candidate, rather than backing Bundesbank chief Jens Weidmann to succeed Mario Draghi at the helm of the European Central Bank (ECB), Handelsblatt reported.
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.
The Governor of the Latvian Central Bank, suspended by the Parliament, continues to face extraordinary accusations. The Commission has promised to set up a working group by the summer to tackle money laundering. EURACTIV.fr reports.
Despite concerns over a potential new euro crisis due to Italian political instability,the president of the European Central Bank, Mario Draghi, believes the currency is “strong”. EURACTIV’s partner La Tribune reports.
A former governor of the Bank of Spain told EURACTIV that Luis de Guindos has the right CV to become vice-president of the ECB, a post he will take up later this week. But the ex-minister’s “brutally wrong” decisions led the country to the “disaster” of the bailout, he added.
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.
The anti-establishment 5-Star Movement and far-right Northern League plan to ask the European Central Bank to forgive €250 billion of Italian debt, according to a draft of a coalition programme the parties are working on.
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.
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.
The European Parliament approved the appointment of Spain’s former minister of Economy Luis de Guindos as ECB vice-president but sent a warning signal to the member states to improve the nomination process.
The chair of the European Parliament's economic committee has written a curt letter to the president of the Eurogroup, asking for “greater cooperation” from the Council when it comes to high-level appointments. EURACTIV.fr reports.
The EU legislators requested from the member states on Tuesday (27 February) improvements to the selection process of the bloc's top posts before giving their blessing to the appointment of Luis de Guindos as ECB vice-president.
Designated ECB vice-president, Spain’s minister of Economy Luis de Guindos, said on Tuesday (20 February) that the existing expansionary monetary stance should be for “extraordinary times”, as he described the European recovery as solid.
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.
Investor and philanthropist George Soros held a private meeting with a senior ECB official last November to discuss eurozone integration, according to official documents published on Friday (16 February).