About: sovereign debt
German plan brings ‘new impetus’ to banking union, Eurogroup says
Finance ministers on Thursday (7 November) welcomed a German initiative to unblock proposals for a common bank deposit guarantee scheme in the eurozone, but questioned Berlin's request to ask additional capital buffers in return for banks holding sovereign debt.
Lagarde urges European leaders to agree on common guarantee for savings
The Managing Director of the International Monetary Fund, Christine Lagarde, called on eurozone leaders on Thursday (28 March) to complete the banking union by reaching an agreement on the European Deposit Insurance Scheme (EDIS).
Italy sends mixed signals to jittery markets after debt downgrade
Italy's new anti-establishment government sent contradictory signals to financial markets on Sunday (2 September) amid increasing concern Rome could breach EU spending limits as it comes under pressure to fulfil its anti-austerity electoral promises.
Commission hails similarities with Merkel’s eurozone proposals
European Commission Vice-President Valdis Dombrovskis welcomed German Chancellor Angela Merkel’s proposals to strengthen the euro area, noting the similarities between the Bundesrepublik's and EU executive’s ideas on structural reform and investment support.
Commission passes the ball on sovereign debt rules
European Commission Vice-President Valdis Dombrovskis said on Wednesday (7 March) that he does not intend to amend the regulatory treatment of sovereign debt held by banks following inconclusive discussions at international level.
The Frankfurt Protocol: Calling for a new treaty for the eurozone
Faced with a series of unprecedented difficulties, the EU has little choice but to move forward swiftly to the next stage of integration. The way to do that is through treaty change, argues Anfrew Duff in his latest pamphlet 'The Frankfurt Protocol'.
Belgium adopts law against ‘vulture funds’
Belgium has passed a law to cap how much so-called "vulture funds" can recoup from government debt bought at rock-bottom prices from countries teetering on the brink of default.![Mario Draghi at the ECB Press Conference in Frankfurt am Main, on 4 Sept. 2014 [ECB/Flickr]](https://www.euractiv.com/wp-content/uploads/sites/2/2014/09/mario_draghi_4_sept_2014.png)
ECB, euro central banks, begin QE stimulus programme
The European Central Bank announced Monday (9 March) that it and the national central banks of the euro area have started buying bonds as part of the long-awaited 1.1 trillion euro quantitative easing programme to stimulate growth and ward off deflation across the single currency area?.
Vulture funds could hold crisis-hit EU nations to ransom
The UN General Assembly’s landmark resolution to create a legal framework for sovereign debt restructuring will change how future debt crisis are managed. Although European Union countries are vulnerable to vulture funds, which recently held Argentina to ransom, some EU nations voted against, writes Bodo Ellmers. VideoPromoted content
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. VideoPromoted content
Commission proposes new rules to stop banks’ risky trading
The European Commission proposed on Wednesday new rules to stop the biggest and most complex banks from engaging in the risky activity of proprietary trading.
S&P spoils the show at EU leaders’ summit
Standard & Poor's cut its long-term credit rating on the European Union budget to AA-plus from AAA on Friday (20 December), dealing a blow to EU leaders who had congratulated themselves the day before for agreeing the last elements of their banking union plans.
Cyprus bailout talks keep EU negotiators awake in Brussels
EU and IMF officials worked overnight on a rescue package for Cyprus with the aim of presenting the outline of a bailout programme to eurozone finance experts on Friday (15 March) in Brussels, sources said.
EU pushes stricter rules for sovereign debt ratings
Brussels agreed on stricter rules for credit rating agencies which will ultimately try to reduce the over-reliance on external ratings, requiring financial institutions to strengthen their own credit risk assessment.
Hollande sticks to his guns, calls for EU debt pooling
France’s President François Hollande has insisted that the European Union needed more solidarity and a system for debt mutualisation, a position which fell foul of Germany’s insistence that this should only happen after countries agree to greater fiscal oversight from Brussels. EURACTIV France reports.
EU lawmakers wary over banning sovereign ratings
Banning credit ratings on European Union sovereign debt would be a step too far and fail to row back the financial sector's heavy reliance on ratings, EU lawmakers said on Wednesday (29 February).
Pittella: Sovereign rating up to ECB or Court of Auditors
Just after Standard & Poor’s warned it would downgrade 15 of the 17 eurozone countries if EU leaders didn't strike a deal to save the euro at a summit on Friday, vice president of the European Parliament Gianni Pittella (S&D) called to strip rating agencies of their sovereign rating power, announcing changes to the Commission proposal on rating, which has just landed in the Parliament. VideoPromoted content
Eurosummit: post-game analysis
European leaders achieved a breakthrough early on Thursday to write off half of Greece's debt and seek foreign capital to double the eurozone's bailout fund to around €1 trillion. But crucial details on the fund's size were left for finance ministers to decide end of November.
EU strikes deal to ban ‘naked’ CDS
Brussels gave green light yesterday (18 October) to ban "naked" credit default swaps (CDS) on sovereign debt in an attempt to curb what some policymakers see as hedge fund bets on the euro zone crisis.
US’ Geithner to attend eurozone meeting as debt fears mount
US Treasury Secretary Timothy Geithner will attend a meeting of eurozone finance ministers in Poland on Friday, as fears of a potential Greek debt default hit Europe's banking sector. Meanwhile, Germany and the EU are trying to reassure jittery markets.
Andor opposes ‘unsustainable’ austerity measures
The EU's commissioner for employment and social affairs has set himself apart from colleagues by decrying "unsustainable" austerity measures "which are clearly not working," and calling for the burden of debt across the EU to be shared more equitably.
EU to back short-selling curbs
European Union finance ministers look set to back a ban on naked or uncovered selling of sovereign debt and shares when they meet next week, diplomats said on Wednesday (11 May).Why Europe needs automatic haircuts
The euro zone requires automatic "haircuts" to accompany its bailouts as the currency union cannot be maintained without market discipline, writes Hans-Werner Sinn, an economist at the University of Munich.