French politician Francois Fillon (C), member of the conservative Les Republicains political party, arrives inside his campaign headquarters after partial results in the first round of the French center-right presidential primary election vote in Paris, France... More »
European Central Bank Vice President Vitor Constancio speaks during a Reuters Newsmaker event in New York February 19, 2016. REUTERS/Brendan McDermid The European Central Bank does not need to react to recent sharp increase in sovereign bond yields as post-ele... More »
The euro zone economy is on a solid run, with a string of good data pointing to a consumption-led recovery, but investment is still lagging so it is far from clear if forecasts need to be revised, ECB policymaker Yannis Stournaras said. More »
The headquarters of the European Central Bank (ECB) are pictured in Frankfurt, Germany, September 8, 2016. REUTERS/Ralph Orlowski/File Photo A European Central Bank push to iron out differences in how banks calculate capital requirements will inadvertently hel... More »
Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo The dollar steadied in Asia on Tuesday, keeping previous session gains as markets wagered on a victory... More »
Pedestrians walk past the headquarters of the European Central Bank (ECB) in Frankfurt, Germany September 8, 2016. REUTERS/Ralph Orlowski The euro zone housing market is on its best run since the global financial crisis but prices on average are still only in ... More »
An employee of a bank counts US dollar notes at a branch in Hanoi, Vietnam May 16, 2016. REUTERS/Kham Politics dominated currency markets on Thursday as U.S. election worries kept the dollar weak against the yen JPY= while sterling rose more than one percent a... More »
A street vendor displays Greek national flags for sale in front of the Bank of Greece headquarters during a student parade marking the ”Ohi” (No) day, the country’s rejection on Italy’s ultimatum to surrender as the World War II flared up, in Athens, Greece, O... More »
A man passes a trade exhibition stand at the Careers and Jobs Live careers fair at the ExCeL centre in London April 19, 2009. REUTERS/Luke MacGregor Euro zone unemployment was 10.0 percent in September, unchanged from a downward revised 10.0 percent in August ... More »
The headquarters of the European Central Bank (ECB) are illuminated with a giant euro sign at the start of the ”Luminale, light and building” event in Frankfurt, Germany, March 12, 2016. EUTERS/Kai Pfaffenbach/File Photo Euro zone states should implement struc... More »
Euro and Dollar banknotes are seen in a picture illustration taken October 19, 2016. REUTERS/Leonhard Foeger The dollar edged up to a fresh eight-month high against a basket of currencies in Asian trade on Monday, buoyed by expectations that the U.S. Federal R... More »
Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration shot January 21, 2016. REUTERS/Jason Lee/Illustration/File Photo The dollar inched up to a seven-month high against a basket of c... More »
Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem gestures during a European Union finance ministers meeting in Brussels, Belgium, July 12, 2016. REUTERS/Francois Lenoir A reform of global banking rules should focus on lenders’ internal models... More »
Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration shot January 21, 2016. REUTERS/Jason Lee/Illustration/File Photo The dollar firmed on Tuesday, while the beleaguered sterling wal... More »
Nobel Prize-winning economist Joseph Stiglitz attends a keynote presentation during CLSA investors conference in Hong Kong, China September 19, 2016. REUTERS/Bobby Yip Nobel Prize-winning economist Joseph Stiglitz predicted in a interview out on Wednesday that... More »
Jeroen Dijsselbloem participates in a discussion on the global economy during the World Bank/IMF Annual Meeting in Washington October 9, 2014. REUTERS/Joshua Roberts The fine proposed by the United States for Deutsche Bank is too big and undermines financial s... More »
Greek and EU flags flutter at an open air kiosk in Athens, Greece, June 22, 2015. REUTERS/Yannis Behrakis Euro zone finance ministers are likely to approve on Monday the disbursement of much or all of the money from the 2.8 billion euro ($3.14 billion) tranche... More »
European Central Bank (ECB) President Mario Draghi addresses the European Parliament’s Economic and Monetary Affairs Committee in Brussels, Belgium September 26, 2016. REUTERS/Yves Herman European Central Bank interest rates will stay low until euro zone econo... More »
European Central Bank (ECB) President Mario Draghi leaves an elevator after a meeting with German lawmakers in Berlin, Germany, September 28, 2016. REUTERS/Axel Schmidt Euro zone inflation could approach the ECB’s target by late 2018 or early 2019 and so far t... More »
Euro coins are seen in front of a displayed Greece flag in this picture illustration, June 29, 2015. REUTERS/Dado Ruvic/File Photo Euro zone finance ministers gave Greece a positive review of its reforms on Monday but divided up the latest tranche of aid to At... More »
Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration shot January 21, 2016. REUTERS/Jason Lee/Illustration/File Photo Sterling hit seven-week lows on Monday after Britain set a March... More »
Benoit Coeure, member of the Executive Board of the European Central Bank (ECB), attends a Lamfalussy Lectures Conference in Budapest, Hungary, February 1, 2016. REUTERS/Laszlo Balogh The euro zone risks falling into a trap of low growth and low interest rates... More »
Italian Prime Minister Matteo Renzi makes a speech during a news conference in Rome, Italy, November 24, 2015. REUTERS/Tony Gentile/File Photo He’s rude about Brussels, calls Berlin stingy with cash and Paris mean on helping refugees- he threw a tantrum this m... More »
European Central Bank (ECB) President Mario Draghi waits to address the European Parliament’s Economic and Monetary Affairs Committee in Brussels, Belgium, June 21, 2016. REUTERS/Francois Lenoir/File Photo Economic imbalances within the euro zone risk destabil... More »
Arrangement of various world currencies including Chinese Yuan, US Dollar, Euro, British Pound, in this picture illustration taken January 25, 2011. REUTERS/Kacper Pempel/Illustration/File Photo The yen was holding strong on Monday in the face of another volle... More »
The shock over Britain’s decision to quit the European Union has been overcome for now, Ifo economist Klaus Wohlrabe told Reuters on Monday after the institute’s monthly survey showed business morale in Germany surging in September. More »
Yves Mersch, Member of the Executive Board of the European Central Bank presents an oversized newly unveiled 10 euro note at the headquarters of the European Central Bank (ECB) in Frankfurt, January 13, 2014. REUTERS/Ralph Orlowski European regulators must tel... More »
A man walks on a logo of the Monte Dei Paschi Di Siena bank in Rome, Italy September 24, 2013. REUTERS/Alessandro Bianchi/File Photo European regulators expect Italian bank Monte dei Paschi di Siena will have to turn to the government for support, three euro z... More »
European Central Bank (ECB) President Mario Draghi attends a news conference at the ECB headquarters in Frankfurt, Germany September 8, 2016. REUTERS/Ralph Orlowski Financial services are shifting away from banks in the euro zone to the so-called ‘shadow banki... More »
Demonstrators take part in a protest to urge the Irish Government to repeal the 8th amendment to the constitution, which enforces strict limitations to a woman’s right to an abortion, in Dublin, Ireland September 24, 2016. REUTERS/Clodagh Kilcoyne Thousands of... More »
United States one dollar bills are seen on a light table at the Bureau of Engraving and Printing in Washington November 14, 2014. REUTERS/Gary Cameron/File Photo The dollar edged lower on Monday, paring some of the gains made in the wake of strong U.S. inflati... More »
President of the Deutsche Bundesbank Jens Weidmann speaks during a meeting in Rome, Italy April 26, 2016. REUTERS/Tony Gentile/File Photo Financial institutions based in Britain will lose so-called passporting rights allowing them to operate across the Europea... More »
United States one dollar bills are seen on a light table at the Bureau of Engraving and Printing in Washington November 14, 2014. REUTERS/Gary Cameron/File Photo The safe-haven yen was the winner on Monday as investors sold stocks and riskier assets including ... More »
A logo of Monte dei Paschi di Siena bank is seen on the ground in Siena, Italy, November 5, 2014. REUTERS/Giampiero Sposito/File Photo – RTX2ORXD The European Central Bank has given a preliminary nod to the possible appointment of Marco Morelli, head of Bank o... More »
Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem reacts during a European Union finance ministers meeting in Brussels, Belgium, July 12, 2016. REUTERS/Francois Lenoir Multinational companies should refrain from tax-avoidance practices and pay... More »
A logo of Monte dei Paschi di Siena bank is seen on the ground in Siena, Italy, November 5, 2014. REUTERS/Giampiero Sposito/File Photo Italian bank Monte dei Paschi plans to appoint a new chief executive in the next few days to lead a 5 billion-euro ($5.6 bill... More »
Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem gestures during a European Union finance ministers meeting in Brussels, Belgium, July 12, 2016. REUTERS/Francois Lenoir Fighting tax avoidance should be a cornerstone of a push by EU authoritie... More »
Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration shot January 21, 2016. REUTERS/Jason Lee/Illustration/File Photo The U.S. dollar held firm in early Asian trade on Monday after d... More »
A Greek flag flutters in the wind as tourists visit the archaeological site of the Acropolis hill in Athens, Greece July 26, 2015. REUTERS/Ronen Zvulun/File Photo The euro zone will not release additional bailout money for Greece at a meeting in Bratislava thi... More »
Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo The dollar rose to a three-week high against the yen on Monday after senior Federal Reserve officials ... More »
A British flag and an EU flag are seen in front of a monitor displaying a graph of the Japanese yen’s exchange rate against the U.S. dollar at a foreign exchange trading company in Tokyo, Japan, June 27, 2016. REUTERS/Toru Hanai German Economy Minister Sigmar ... More »
FRANKFURT Britain’s vote to leave the European Union should have limited immediate economic impact on Germany, the country’s central bank said on Monday, noting the mood among enterpreneurs remained positive. The Bundesbank expects the German economy to have c... More »
By Anirban Nag | LONDON LONDON The dollar was softer on Monday, pegged back by sluggish U.S. data that tempered expectations of a Federal Reserve interest rate hike this year. The U.S. currency was 0.2 percent lower at 101.12 yen JPY= after losing 0.6 percent ... More »
BERLIN The German economy lost some growth momentum in the second quarter after a strong performance in the first three months of the year, the Economy Ministry said on Thursday, citing weaker private consumption and weaker-than-expected construction. It added... More »
LONDON Economists from the International Monetary Fund have urged the European Central Bank to concentrate on asset purchases rather than cutting its already negative interest rates again, if it needs to stimulate the euro zone economy again. A blog published ... More »
LONDON The New Zealand dollar surged to its highest level in more than a year on Thursday after the Reserve Bank of New Zealand made smaller interest rate cuts than some had expected, forcing them to unwind their bets on more aggressive easing. The RBNZ said a... More »
LONDON/SYDNEY British manufacturers slammed on the brakes last month after the Brexit vote and growth eased in the euro zone, surveys indicated, with factories in China, Japan and elsewhere in Asia offering only crumbs of comfort. A U.S. version due later Mond... More »
LONDON The dollar crawled up on Monday after recording its poorest weekly performance in three months, while the yen edged lower after a more than 3 percent surge on a much less aggressive than expected easing package from the Bank of Japan. The greenback shed... More »
LONDON Aug 1 – Manufacturing growth across the euro zone eased in July, a survey showed on Monday, and signs of a sharper slowdown outside powerhouse Germany may add to calls for the European Central Bank to loosen policy again. Markit’s Purchasing Managers’ I... More »
MILAN Italian bank Monte dei Paschi di Siena has secured underwriters to back a turnaround plan involving the sale of 9.2 billion euros ($10.3 billion) in bad loans and a 5 billion euros capital increase, the lender said in a statement on Friday. The country’s... More »
NEW YORK Algorithms are proving to be poor at timing currency markets, if a group of new exchange-traded funds is any indication. In January, ETF-industry leaders BlackRock Inc’s iShares unit and WisdomTree Investments Inc both launched slates of international... More »
BRUSSELS Economic growth in the euro zone slowed in the second quarter as uncertainty before the British vote to leave the European Union swirled, data showed on Friday, and economists said it could be a sign of future weaker growth. Gross domestic product (GD... More »
BRUSSELS Inflation rose more than expected in the euro zone in July, driven mostly by higher prices of food, alcohol and tobacco products, according to a first estimate from the EU’s statistics agency released on Friday. Eurostat said that inflation in the 19 ... More »
MADRID Spain’s economy may grow around 2.9 percent in 2016, up from the current official target of 2.7 percent, although 2017 could come under pressure due to lower global growth, acting Economy Minister Luis de Guindos said on Sunday. “New macroeconomic proje... More »
FRANKFURT The European Central Bank kept interest rates unchanged on Thursday but left the door open to more policy stimulus, highlighting “great” uncertainty and abundant risks to the economic outlook. Signalling a readiness to act, ECB President Mario Draghi... More »
FRANKFURT European Central Bank President Mario Draghi said on Thursday events in Turkey since the coup attempt may impact economic sentiment in the euro zone. “It is very difficult to see how these geopolitical events will affect the (euro zone) economy,” he ... More »
SINGAPORE The Turkish lira rose against the dollar and the safe-haven yen fell broadly on Monday in the wake of a failed Turkish coup over the weekend, easing investor concerns about political uncertainty and geopolitical risks. The Turkish lira recovered some... More »
BEIJING European Union foreign policy chief Federica Mogherini said on Wednesday the EU was looking for the smoothest possible relations with Britain after it leaves the union and hopes institutional turmoil can end as soon as possible. Speaking during a visit... More »
BEIJING China’s Premier Li Keqiang told European Union officials on Wednesday that the country was committed to market reforms and remained determined to tackle a steel capacity glut that has sharpened tensions between the two sides. Li, speaking at an EU-Chin... More »
BEIJING European Commission President Jean-Claude Juncker told his Chinese counterparts on Wednesday that overcapacity in steel sector is a very serious problem. China is by far the world’s biggest steel producer and its annual output is almost double that of ... More »
BRUSSELS The European Commission does not expect any new countries to join the euro zone for at least the next three years, one of the vice presidents of the EU executive said on Thursday. “There is not going to be euro area enlargement in the next at least th... More »
AMSTERDAM Britain will not be able to dictate the terms of a new trade deal to the European Union after it leaves the bloc, the chair of the euro zone finance ministers’ council said, accusing leave campaigner Nigel Farage of “living in his own world.” Farage,... More »
BRUSSELS The British member of the EU executive, Financial Services Commissioner Jonathan Hill, resigned on Saturday after having campaigned against Britain leaving the European Union. Following the referendum vote for Brexit on Thursday, few expected a Briton... More »
PALO ALTO, Calif. U.S. President Barack Obama on Friday tried to limit the fallout from Britain’s vote to leave the European Union, which threatens to harm the U.S. economic recovery, derail his trade agenda and distract U.S. allies from global security issues... More »
AMSTERDAM The chair of the council of euro zone finance ministers said on Friday there was no reason to call a meeting of the body following Britain’s vote to leave the European Union. Speaking after a meeting of the Dutch cabinet, Jeroen Dijsselbloem said it ... More »
THE HAGUE The lesson of Britain’s vote to leave the European Union is that the bloc cannot continue along a path of deepened integration or further enlargement, the chair of the council of euro zone finance ministers said on Friday. Speaking before a cabinet m... More »
SEVILLE, Spain An airplane powered solely by the sun landed safely in Seville in Spain early on Thursday after an almost three-day flight across the Atlantic from New York in one of the longest legs of the first ever fuel-less flight around the world. The sing... More »
FRANKFURT The European Central Bank is planning to give euro zone banks non-binding guidance by the end of 2016 or early 2017 to cut their bad debt pile, raising the heat on lenders but not forcing their hand, sources said. The ECB, which supervises 129 of the... More »
BRUSSELS This is a rough outline of the steps Europe plans to take after Britain’s referendum on Thursday on whether to leave the European Union, based on public and private comments by officials: DAY 1 – FRIDAY, JUNE 24 – THE THREE R’S – OR MORE Polls close a... More »
ATHENS Greece got more than 7 billion euros in bailout funds on Tuesday after a review of the country’s progress in implementing economic reforms, the head of the euro zone’s bailout fund told reporters in Athens. Greece needs the money to pay off growing stat... More »
LUXEMBOURG Britain could not rejoin the European Union after leaving because membership requirements would be too onerous, Foreign Secretary Philip Hammond said on Monday. He said Thursday’s referendum on EU membership offered “no way back”. Since becoming a m... More »
ATHENS Greece could lift most or all capital controls imposed at the height of the euro zone crisis by the end of the year, the head of the country’s banking association said on Saturday. The controls, which restricted the amount of cash that can be withdrawn ... More »
LUXEMBOURG The 19 countries sharing the euro zone will strengthen their cooperation in all necessary fields regardless of the outcome of the British referendum on European Union membership next week, the head of the euro zone group of finance ministers said on... More »
FRANKFURT The European Central Bank would publicly pledge to backstop financial markets in tandem with the Bank of England should Britain vote to leave the European Union, officials with knowledge of the matter told Reuters. The preparations illustrate the hei... More »
FRANKFURT Central banks around the globe are preparing financial backstops to mitigate market turmoil in case Britons vote next week to leave the European Union, hoping to buffer the real economy from any short-term impact. Operating with so-called swap lines,... More »
NEW YORK The yen surged to its highest in more than three years against the euro on Tuesday as chances of Britain voting next week to leave the European Union grew, prompting a flight to safe havens such as the Japanese currency. The yen also hit a six-week hi... More »
TRENTO, Italy Excessive capital requirements can backfire, Italy’s economy minister said on Saturday, defending a joint French-Italian proposal to cap the amount of reserves that euro zone banks should have to wipe out before they can be rescued. Rules in forc... More »
TRENTO, Italy Britain’s exit from the European Union would likely trigger turmoil on financial markets prompting the European Central Bank to act, Governing Council Member Francois Villeroy de Galhau said on Saturday. Villeroy de Galhau told an economic confer... More »
ATHENS Greece’s government trumpeted a debt relief deal with other euro zone countries on Wednesday as the beginning of the end of its bruising six-year financial crisis but Greeks remained skeptical and markets were cautious. After years of austerity demanded... More »
BRUSSELS The euro zone and International Monetary are struggling with Greece’s debt crisis – not with Athens this time, but with each other over when to give Greece a break on its future massive debt repayments. The euro zone has begun talks on debt relief for... More »
ATHENS Greece’s parliament will vote on a new package of tax hikes and reforms demanded by its international lenders on Sunday, two days before euro zone finance ministers assess whether Athens qualifies for much-needed bailout loans. The bill would increase v... More »
LONDON The yen fell on Monday as Japan, readying to host a Group of Seven meeting, again signaled its willingness to intervene in the market, driving the currency to erase early gains made on disappointing Chinese data. Vice finance minister for international ... More »
LONDON Europe is becoming “a bad word” due to the strains of the migrant crisis and growing inequality among euro zone countries that risk driving the continent apart, Italy’s Economy Minister Pier Carlo Padoan said on Wednesday. Speaking at an event hosted by... More »
LONDON Former NATO secretary generals warned on Tuesday that a British exit from the European Union would help enemies of the West while ex-U.S. foreign and defense chiefs cautioned that Britain would have less clout outside the bloc. The double warning comes ... More »
BRUSSELS/ATHENS Euro zone finance ministers offered on Monday to grant Greece debt relief by giving it longer grace periods and bond maturities from 2018 if the country delivers by then on all reforms agreed under its latest bailout. The offer, to be worked ou... More »
BERLIN A batch of Greek economic reforms must be reviewed by euro zone finance ministers before any additional debt relief can be decided on, German government spokesman Steffen Seibert said Monday. Seibert said there was a clear process for determining furthe... More »
LONDON Greek banking stocks could rise 90 percent from current levels and yield premiums over German benchmark bonds narrow if Greece and its creditors can reach a deal on releasing new bailout funds and debt relief, Morgan Stanley said on Wednesday. The broke... More »
ROME Talks on concluding Greece’s bailout review to unlock new funds and debt relief are progressing only slowly and no deal is likely at a special meeting of euro zone finance ministers on May 9, two sources close to the talks said on Monday. The sources said... More »
BENGALURU/SYDNEY Asian factories barely grew in April and those in the euro zone did little better despite heavy discounting, setting a sluggish tone on Monday for the global economy in the second quarter. Japanese manufacturing activity shrank last month at t... More »
BRUSSELS/BERLIN Overcoming years of poor health and crisis, the euro zone economy grew at its fastest pace in five years in the first quarter, driven by unlikely stars such as France and Spain. It now stands larger that in did at its peak before the financial ... More »
BRUSSELS Euro zone finance ministers will not meet on Thursday and need more time to discuss Greek reforms that would unlock new loans, signaling significant differences remain between Athens and its lenders on bailout targets. The meeting was a possibility be... More »
LONDON The yen recovered from a walloping at the end of last week on Monday, with investors focusing on a meeting of the Bank of Japan that many expect to deliver further easing of monetary policy in a bid to halt the currency’s rise. Bets on the yen to streng... More »
AMSTERDAM Greece should prepare a package of additional measures to guarantee it will reach fiscal targets agreed with international lenders to conclude the bailout reform review, the head of euro zone finance ministers said on Friday. “We came to the conclusi... More »
FRANKFURT There is ongoing growth in the euro zone economy and this should continue, European Central Bank President Mario Draghi said on Thursday. “We expect the economic recovery to proceed,” Draghi told a news conference, although he added that global risks... More »
BRUSSELS/ATHENS Euro zone finance ministers are ready to hold an extraordinary meeting next week if negotiations on the review of the Greek reform program are concluded, a senior EU official said on Wednesday, commenting that talks remained difficult. Discussi... More »
SYDNEY/SINGAPORE Commodity currencies slumped on Monday while the safe-haven yen soared after major oil producers failed to agree on an output freeze, sending oil prices tumbling anew. The Canadian dollar and its Australian counterpart were both marked more th... More »
FRANKFURT Almost a month after stoking a divisive debate about how far it should go in pumping money into the flagging euro zone economy, the European Central Bank is trying to soothe relations with Germany after unusually strong criticism from Berlin. Late la... More »
BRUSSELS In Athens, walls have ears. The leaking of a conference call of International Monetary Fund officials on Greece’s latest bailout review has further undermined mutual trust in fraught debt talks, embarrassed the European Commission and infuriated the I... More »
ATHENS Greece and its international lenders were edging closer to a compromise on signing off on a review of bailout reforms which could unlock more aid to the country, government sources said on Monday, after marathon talks with creditors. Just over ten hours... More »
