German Chancellor Angela Merkel made her first public statement about the coronavirus epidemic on Wednesday (11 March), saying that financial reserves and good emergency mechanisms make Germany well-prepared. "We will do what is necessary," she added. EURACTIV Germany reports.
Initiatives to strengthen the financial markets and deepen the economic and monetary union will play a major role in the European Commission’s work programme for 2018, the final one before the legislative machine slows down in the run-up to European elections in 2019.
If the liberal FDP enters a coalition with the conservative CDU in Berlin, Merkel and Schäuble will have to adapt their plans for the future of the European Stability Mechanism (ESM). EURACTIV Germany's partner Der Tagesspiegel reports.
French President Emmanuel Macron's push for an ambitious overhaul of Europe's single currency bloc is running up against robust resistance in Berlin despite conciliatory public signals from German Chancellor Angela Merkel.
The political will to keep the eurozone together is eroding inexorably, warns Leo Hoffmann-Axthelm from Transparency International. In an interview, he reminds German politicians about their responsibility in the eurozone crisis, calling for vital governance reforms to be adopted after the September election.
German Finance Minister Wolfgang Schäuble is working on a proposal that would allow southern eurozone countries to tap into the single currency bloc's bailout fund to boost investments during recessions, a newspaper reported on Wednesday (23 August).
The European Stability Mechanism (ESM) – the eurozone's bailout fund – should ultimately be turned into a European version of the International Monetary Fund IMF, according to the head of eurozone finance ministers.
A common European Union policy to manage external borders and cope with the refugee crisis should be funded with common resources, including through the issuance of EU bonds, Italy said on Monday (22 February).
France Stratégie, a government advisory body, has issued a report outlining the reforms it deems necessary to keep the European project alive and counter rising French Euroscepticism. EURACTIV France reports.
The euro zone's bailout fund, the European Stability Mechanism, could directly invest in a troubled bank next year, after 8% of the bank's total liabilities are written off, the chairman of eurozone finance ministers said on Monday (5 May).
Germany challenged a central plank of plans to forge a banking union in the eurozone yesterday (14 November), arguing against the use of the currency bloc's funds to help lenders exposed as dangerously weak by health checks next year.
Eurozone finance ministers meeting in Luxembourg launched the European Stability Mechanism (ESM) yesterday (8 October), a €500-billion rescue fund for the 17 countries that share the currency. Its first task will be to help Spain recapitalise its banks, but reportedly no discussion took place about Madrid needing a full bailout.
The European Commission is aiming to present its banking union plan by September 11, in a bid to contain the euro crisis that has prompted several EU countries to seek bailout to finance their banks, EU officials reportedly said on Monday (6 August).
The Eurogroup today (20 July) announced it would grant a bailout of up to €100 billion to Spain to help the country recapitalise its banks, following a telephone conference call during which finance ministers gave their backing to the rescue plan.
Finland and the Netherlands, the eurozone's most hardline creditor states, cast the first doubts on Monday on a European summit deal designed to save Spain and Italy from being engulfed by the currency bloc's debt crisis.
Germany's parliament resoundingly approved the eurozone's permanent bailout scheme and new budget rules on Friday (29 June), but legal hurdles remain and Chancellor Angela Merkel's concessions to eurozone partners Italy and Spain may make those harder to overcome.
Increasing the eurozone rescue fund – and determining the extent to which Spain may need its help – will be under discussion today and tomorrow (30-31 March) as European finance ministers meet in Copenhagen.
Germany may not be ready to back an increase in Europe's bailout fund at a summit in Brussels this week, delaying efforts to meet international demands for Europe to strengthen its defences against the region's sovereign debt crisis.
A 50-strong group of German activists are trying to derail the creation of a European Stability Mechanism (ESM), an EU decision which would immortalise loans granted to troubled economies, like Ireland, Greece – and now possibly Portugal.
European parliamentarians have reacted angrily to Franco-German plans to abandon the so-called 'Community method' and reform economic governance of the euro zone on an intergovernmental basis. EURACTIV.fr reports.