About: Olli Rehn

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Economy & Jobs 25-06-2014

Barroso confirms former Finnish PM Katainen as Economics Commissioner

Finland's former Prime Minister Jyrki Katainen will become the new European Commissioner for Economic and Monetary Affairs, Commission President José Manuel Barroso confirmed on Wednesday.
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Economy & Jobs 04-06-2014

Lithuania ready to join euro from 2015, Commission says

Lithuania is ready to join the euro from 2015 and will become the 19th country to do so. This is the message that the European Commission sent on Wednesday as it released its 2014 Convergence Report, an assessment of how ready eight member states are to join the single currency.
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Economy & Jobs 01-04-2014

EU ministers agree 3-part bailout loan for Greece

Eurozone finance ministers approved on Tuesday the latest bailout aid for Greece, ending a six-month stand-off between Athens and its international lenders.
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Economy & Jobs 25-02-2014

EU forecasts mild economic growth, warns of high unemployment

'Recovery in the European Union is gaining ground'. With this message, EU commissioner Olli Rehn launched the bloc's winter economic forecast, showing higher growth in Europe than previously expected. Speaking at the European Parliament on Tuesday, Rehn said that the 18 eurozone countries would grow by 1.2% this year and 1.8% in 2015. But warning that signs of recovery are still 'modest', Rehn also highlighted that unemployment across the bloc remains too high.
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Economy & Jobs 28-01-2014

Eurogroup announces Lithuania’s hopes to join euro, warns Greece to speed up bailout talks

Lithuania hopes to join the euro in 2015, emulating its Baltic neighbours Latvia and Estonia. The announcement came after a meeting of eurozone finance ministers in Brussels on Monday, where the Eurgroup's head Jeroen (Yurun) Dijsselbloem said that Vilnius was 'very determined' to join the currency bloc. It is the country's second attempt to join, after an earlier failed bid when it missed a target for inflation.
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EU Elections 2014 17-01-2014

ALDE Party Congress 2013

The ALDE Party has closed its 34th and most successful annual Congress, held this year in London, between 28 and 30 November 2013.   A thousand delegates from across the European continent gathered in the British capital's iconic Canary Wharf complex in the heart of the business district to hear keynote speeches by party personalities, participate in fringe meetings and elect a new Bureau.   ALDE is also the first European political party to adopt its manifesto for the 2014 elections -- with delegates voting over
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Economy & Jobs 15-11-2013

Spain, Ireland to quit EU bailouts

Spain will exit a financial aid programme for its banking sector from January next year, without drawing more European funds. The announcement came after an agreement by eurozone finance ministers in Brussels on Thursday. Earlier this year, Spain borrowed €41 billion from an EU-IMF bailout package to rescue several inderet banks from the collapse of a property and construction bubble.
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Economy & Jobs 13-11-2013

Commission to investigate Germany’s current account surplus

The European Commission announced on Wednesday it will launch an investigation into Germany's economy. The EU executive fears the high current account surplus of the biggest economy in Europe may be damaging the eurozone economy. The announcement came after the US critised Germany, accusing Berlin of relying too much on exports and not doing enough to raise demand at home, which could hamper Europe's economic stability.
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Economy & Jobs 05-11-2013

EU forecasts slow economic recovery, high unemployment

Europe's economy has reached a turning point, according to the European Commission. Presenting his Autumn economic forecast on Tuesday , EU commissioner Olli Rehn said that a slow economic recovery is expected over the next two years, but unemployment will remain high. The Commission expects economic growth in 2014 to hit 1.1% in the euro area and 1.4% in the Union as a whole. In 2015, growth is expected to be 1.7% in the euro zone and almost 2% in the EU.
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Banking union 15-10-2013

Finance ministers tussle over banking union, sovereignty

Questions over how far the European Central Bank (ECB) should control Europe’s banks dominated yesterday’s meeting of eurozone finance ministers and look set to continue today (15 October) as member states push back against the Commission’s powers under the new European Semester.
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Economy & Jobs 14-10-2013

Eurozone ministers to say who pays for banks’ clean up

Eurozone countries will consider today (14 October) how to pay for the repair of their broken banks after health checks next year, which are expected to uncover problems that have festered since the financial crisis.
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Economy & Jobs 21-08-2013

EU’s Rehn does not rule out a third Greek bailout

As the debate on whether Greece will need a third bailout intensifies, EU economic affairs commissioner Olli Rehn declined on Wednesday to rule out the possibility. Speaking to a Finnish newspaper, Rehn also said that other options, such as extending the repayment period on existing loans, are also on the table. Rehn's comments come after the German finance minister said on Tuesday that Greece will need a third bailout, only 5 weeks before the biggest EU economy holds elections.
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Economy & Jobs 12-06-2013

European Parliament criticises Greece TV shutdown

MEP's on Wednesday condemn the Greek government for its unexpected decision of closing down ERT, the Greek state broadcaster. Athens yet most drastic measure comes as an attempt to slash public sector jobs and meet the terms of an international bailout imposed by the EU-IMF combo. 'I'm shocked that in Greece overnight a public radio and television stations had been closed down and this is the Troika that is been blamed certainly in the public sphere what is been said. Stop the Troika, stop it , that what you can do for the image of Europe, stop it now'.
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Economy & Jobs 03-05-2013

EU unveils gloomy eurozone growth forecast

The eurozone economy will shrink more than expected this year, according to the European Commission which published its Spring Economic Forecast on Friday. The Commission's outlook also showed that 4 of the largest euro zone economies – France, Spain, Italy and the Netherlands – will be in recession throughout 2013. Only Germany's economy will grow.
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Economy & Jobs 11-04-2013

EU warns Spain, Slovenia over troubled economies

Brussels has warned Spain and Slovenia to take urgent steps to address their deepening economic problems or face a fine at the end of the month. Under the current rules, the EU can punish countries that do not correct excessive imbalances with a fine of 0.1% of their GDP. The warning came after the European Commission unveiled on Wednesday its second review of economic imbalances in 13 EU countries.
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Economy & Jobs 26-03-2013

Cyprus crisis: banks to re-open Thursday, but remain controlled

Amid concerns of a possible bank run, Cyprus is requiring banks to stay closed until Thursday. The Cypriot authorities will also limit access to bank accounts and movement of cash out of the island. It is the first time capital controls are being applied within the euro area and comes after Cyprus sealed a deal with the EU and the IMF on Monday to avoid bankruptcy and a potential euro exit.
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Euro & Finance 25-03-2013

Eurogroup’s press conference on Cyprus’ bailout deal

Cyprus clinched a last-ditch deal with international lenders early today (25 March) to shut down its second largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a €10-billion bailout.
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Economy & Jobs 18-03-2013

Cyprus delays vote on EU bailout, Putin calls plan ‘dangerous’

Cyprus' parliament has delayed a crucial vote until Tuesday about a controversial bailout deal reached by the EU and the IMF at the weekend. The newly-elected center-right president Nicos Anastasiades presented the deal as the only solution possible to avoid bankrapci and is currently seeking support from other political parties to ratify the agreement. He has already promised to soften the conditions for small savers.
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Euro & Finance 05-03-2013

Eurogroup to agree Cyprus bailout by end of March

Eurozone finance ministers pledged on Monday to agree a bailout for Cyprus by the end of March. The total bailout could be up to €17 billion. The Eurogroup said that while Europe is ready to help the island, details on how the potential rescue will be financed are yet to be worked out.
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Euro & Finance 30-01-2013

Good results drag Spain away from bailout territory

Madrid announced on Tuesday (29 January) that it had beaten revenue targets for 2012 as tax hikes offset a shrinking economy, moving the country further away from an EU-IMF sovereign bailout which seemed unavoidable a few months ago.
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EU Priorities 2020 22-01-2013

FTT deal ignites debate on how to allocate funds

EU finance ministers on Tuesday gave the green light for the 11 countries to move forward with a harmonised FTT, opening a tricky debate on how the money should be used.
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Economy & Jobs 09-10-2012

Eurogroup launches permanent rescue fund, says Spain does not need bailout

Eurozone's new permanent rescue fund was launched on Monday at a meeting of finance ministers in Luxembourg. Funded by taxpayers' money, the so-called European Stability Mechanism will have a 500 bn euro budget to help finance debt-ridden countries.
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Economy & Jobs 15-05-2012

European FMs rule out a ‘Grexit’

Discussions of a Greek euro exit, or a Grexit, have become more prominent in Brussels after Greek leaders failed to form a coalition government since elections were held on 6th of May. But eurozone finance ministers on Monday reaffirmed their commitments to keep Greece in the euro zone. But the EU also warned the Greek authorities that the austerity measures agreed need to be implemented. Greece is due to receive a second bailout in early June in order to avoid default.
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Economy & Jobs 10-02-2012

Brussels rejects Greek austerity plan

Eurozone finance ministers have told Greece that the austerity package they brought to Brussels is not enough. The Euro group wants further cuts, and also wants the Greek parliament to approve the measures that are proposed. Only then, Athens can receive a second bailout bill of a 130 billion euros. The austerity plan remains very unpopular among the Greek people. Trade Unions have called for a two-day general strike to protest. European Commission vice-president Olli Rehn believes that the EU needs to monitor the situation in Athens even more closely.