FILE PHOTO – The dismantled Euro sign sculpture stand in front of the headquarters of the former European Central Bank (ECB) in Frankfurt July 8, 2015. REUTERS/Ralph Orlowski Euro zone government bonds steadied on Friday from another battering that left market... More »
FILE PHOTO: Finished cars are stored at the SEAT factory in Martorell, near Barcelona, Spain March 24, 2017. REUTERS/Albert Gea/File Photo Factories across the euro zone rounded off the first half of 2017 by ramping up activity at the fastest rate for over six... More »
A Banca Popolare di Vicenza sign is seen in Rome, Italy, March 29, 2017. REUTERS/Alessandro Bianchi Italy’s multi-billion-euro closure of two lenders drew sharp criticism on Monday for hurting a project devised to underpin confidence in the euro zone during th... More »
FILE PHOTO: Intesa Sanpaolo bank logo is seen at the headquarters during shareholders’ meeting in Turin, Italy, April 27, 2017. REUTERS/Giorgio Perottino/File Photo Intesa Sanpaolo (ISP.MI) said on Monday its planned acquisition of the good assets of Banca Pop... More »
FILE PHOTO: A worker controls a tapping of a blast furnace at Europe’s largest steel factory of Germany’s industrial conglomerate ThyssenKrupp AG in the western German city of Duisburg December 6, 2012. REUTERS/Ina Fassbender/File Photo Euro zone industrial ou... More »
Greek Prime Minister Alexis Tsipras attends a cabinet meeting at the parliament in Athens, Greece June 13, 2017. REUTERS/Costas Baltas Greek Prime Minister Alexis Tsipras has said he is optimistic that a deal paving the way for new loans for Greece will be rea... More »
Greek Prime Minister Alexis Tsipras (L) welcomes French Finance Minister Bruno Le Maire at his office in Maximos Mansion in Athens, Greece, June 12, 2017. REUTERS/Costas Baltas Euro zone finance ministers and the International Monetary Fund are likely to strik... More »
FILE PHOTO: People walk past a UniCredit bank in downtown Rome, May 10, 2016. REUTERS/Tony Gentile/File Photo The chief executive of UniCredit (CRDI.MI), Italy’s biggest bank by assets, said on Sunday he was confident a solution for the country’s two ailing Ve... More »
An European Union (EU) flag is pictured during a ceremony in Lausanne, Switzerland May 4, 2017. REUTERS/Denis Balibouse The EU executive will suggest on Wednesday the euro zone might need to issue collective debt and run a joint budget, among proposals for bol... More »
Greek Finance Minister Euclid Tsakalotos attends a eurozone finance ministers meeting in Brussels, Belgium May 22, 2017. REUTERS/Francois Lenoir Euro zone finance ministers failed to agree on debt relief for Greece with the International Monetary Fund on Monda... More »
German Foreign Minister Sigmar Gabriel address the media after a private meeting in Mexico City, Mexico, May 19, 2017. REUTERS/Edgard Garrido German Foreign Minister Sigmar Gabriel on Monday urged euro zone finance ministers and the International Monetary Fund... More »
Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem talks to the media as he arrives at European Union finance ministers meeting in Brussels, Belgium February 21, 2017. REUTERS/Francois Lenoir A decision on debt relief for Greece will only be ta... More »
FILE PHOTO: German Finance Minister Wolfgang Schaeuble attends a lower house of parliament Bundestag session in Berlin, Germany, April 27, 2017. REUTERS/Hannibal Hanschke/File Photo German Finance Minister Wolfgang Schaeuble wants to increase in integration of... More »
German Finance Minister Wolfgang Schaeuble said on Thursday it would be possible to develop the euro zone’s European Stability Mechanism (ESM) rescue fund into a European monetary fund soon. More »
Greek Finance Minister Euclid Tsakalotos speaks during a news conference at the Ministry of Finance in Athens, Greece March 30, 2017. REUTERS/Alkis Konstantinidis Euro zone deputy finance ministers have recommended that Greek bailout review talks continue in A... More »
European Commission Vice-President Jyrki Katainen is interviewed by Reuters on the fringe of a European People Party (EPP) summit in St Julian’s, Malta, March 30, 2017. REUTERS/Darrin Zammit Lupi The next steps in euro zone integration after Brexit could inclu... More »
FILE PHOTO: Eurogroup President Jeroen Dijsselbloem holds a news conference during a Euro zone finance ministers emergency meeting on the situation in Greece in Brussels, Belgium June 27, 2015. REUTERS/Yves Herman/File Photo By upsetting southern Europeans wit... More »
Lights are on as people work in their offices in a skyscraper in downtown Milan, February 17, 2015. REUTERS/Stefano Rellandini/File Photo Businesses across the euro zone marked the end of the first quarter by ramping up activity at the fastest pace in almost s... More »
Lights are on as people work in their offices in a skyscraper in downtown Milan, February 17, 2015. REUTERS/Stefano Rellandini/File Photo Businesses across the euro zone marked the end of the first quarter by ramping up activity at the fastest pace in almost s... More »
FILE PHOTO: The logo of Veneto Banca bank is seen in Venice, Italy, January 31 2016. REUTERS/Alessandro Bianchi/File Photo Italy’s plans to bail out two regional banks pose a tough dilemma to European regulators, who are still considering whether Monte dei Pas... More »
A banner hangs at the facade of the Greek Finance Ministry during a protest of taxation officers in Athens, Greece March 20, 2017. The banner reads ‘A decrease of the tax income threshold means new salary and pension cuts. Stop austerity.’ REUTERS/Alkis Konsta... More »
FILE PHOTO: European Central Bank (ECB) headquarters in Frankfurt, Germany, July 29, 2016. REUTERS/Ralph Orlowski/File Photo Euro zone money markets on Friday showed around an 80 percent chance that the European Central Bank could lift its deposit rate at its ... More »
FILE PHOTO: Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem talks to the media as he arrives at European Union finance ministers meeting in Brussels, Belgium, February 21, 2017. REUTERS/Francois Lenoir/File Photo Jeroen Dijsselbloem could we... More »
President of the European Central Bank (ECB) Mario Draghi arrives for a news conference after the bank’s governing council meeting at the ECB headquarters in Frankfurt, Germany, March 9, 2017. REUTERS/Kai Pfaffenbach The European Central Bank no longer sees a ... More »
File Photo: A trader speaks on the phone during a trading session on the trading floor of Frankfurt’s stock exchange, Germany, December 17, 2015. REUTERS/Ralph Orlowski Investor sentiment in the euro zone improved more than expected in March, hitting its highe... More »
A man works at the assembly line in the truck production plant of truck and bus-maker MAN AG in Munich, Germany July 30, 2015. REUTERS/Michaela Rehle Activity in euro zone businesses grew at its quickest pace in nearly six years in February and job creation re... More »
A man works at the assembly line in the truck production plant of truck and bus-maker MAN AG in Munich, Germany July 30, 2015. REUTERS/Michaela Rehle Euro zone manufacturing growth accelerated to a six-year high in February as a weaker euro helped drive strong... More »
FILE PHOTO:Fireworks explode next to the Quadriga sculpture atop the Brandenburg gate during New Year celebrations in Berlin, Germany, January 1, 2017. REUTERS/Fabrizio Bensch/File Photo Over the years, euro zone economic growth has been a bit like the Sirens ... More »
Greek flags are displayed for sale for one Euro at a shop in central in Athens, Greece July 26, 2015. REUTERS/Yiannis Kourtoglou Around half of Germans are against granting debt relief to Greece and around three in 10 want the debt-laden country to quit the eu... More »
FILE PHOTO:A worker walks in the foundry at the Areva Creusot Forge site in Le Creusot, France, January 11, 2017. REUTERS/Robert Pratta/File Photo Euro zone inflation rose to an annual rate of 1.8 percent in January, the European Union statistics agency said o... More »
Employees use sewing machines as they work at the Royal Mer Bretagne factory, a specialist in French manufactured knitted clothes, in La Regrippiere, western France, November 28, 2016. REUTERS/Stephane Mahe Eurozone private sector and manufacturing growth unex... More »
Greek Finance Minister Euclid Tsakalotos talks to European Economic and Financial Affairs Commissioner Pierre Moscovici (R) during a eurozone finance ministers meeting in Brussels, Belgium February 20, 2017. REUTERS/Francois Lenoir Greece and its international... More »
German Finance Minister Wolfgang Schaeuble attends a presentation of a newly designed 2-Euro coin at the Chancellery in Berlin, Germany February 10, 2017. REUTERS/Hannibal Hanschke German Finance Minister Wolfgang Schaeuble denied on Sunday that he had said Gr... More »
Greek Prime Minister Alexis Tsipras (L) welcomes European Economic and Financial Affairs Commissioner Pierre Moscovici at the Maximos Mansion in Athens, Greece February 15, 2017. REUTERS/Alkis Konstantinidis European Economic and Financial Affairs Commissioner... More »
The Greek (L) and European Union flags are seen behind a stop sign in front of the Greek embassy in Vienna, Austria, February 25, 2016. REUTERS/Leonhard Foeger Germany on Monday voiced support for Greece to stay in the euro zone and the European Commission dis... More »
The headquarters of the European Central Bank (ECB) are pictured in Frankfurt, Germany, September 8, 2016. REUTERS/Ralph Orlowski/File Photo The European Central Bank never tries to manipulate the euro exchange rate to achieve trade or competitive policy goals... 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 Euro zone lenders and the International Monetary Fund have reached agreed between themselves to p... More »
FILE PHOTO: German Chancellor Angela Merkel attends a press conference in Warsaw, Poland, February 7, 2017. REUTERS/Kacper Pempel/File Photo The euro zone must remain as one bloc, German Chancellor Angela Merkel said on Thursday, urging members of the single c... More »
Christian Lindner, chairman of the liberal Free Democratic Party FDP addresses the media in Berlin, Germany, March 14, 2016. REUTERS/Wolfgang Rattay Greece should leave the euro zone and then be given debt relief, the head of Germany’s pro-business Free Democr... More »
Wolfgang Schaeuble, German Minister of Finance attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 20, 2017. REUTERS/Ruben Sprich Germany believes the International Monetary Fund (IMF) will remain on board with Greece’s bailout,... More »
The main entrance of the Monte dei Paschi bank headquarters is seen in Siena, Italy March 13, 2012. REUTERS/Max Rossi/File Photo On the morning of July 29, former Italian Industry Minister Corrado Passera was traveling in a high-speed train towards the medieva... More »
Euro zone lenders put a short-term debt relief deal for Greece on hold on Wednesday after the Athens government proposed a one-off payout to pensioners, the euro zone bailout fund ESM said. More »
Greek Finance Minister Euclid Tsakalotos delivers a speech during a parliamentary session before a budget vote in Athens, Greece, December 10, 2016. REUTERS/Alkis Konstantinidis Greek Finance Minister Euclid Tsakalotos on Thursday defended Athens’ plans to pay... More »
European Commissioner for Economic and Financial Affairs Pierre Moscovici attends a news conference with Portugal’s Finance minister Mario Centeno (not pictured) in Lisbon, Portugal November 18, 2016. REUTERS/Rafael Marchante Italy can handle the fallout from ... More »
The main entrance of the Monte dei Paschi bank headquarters is seen in Siena, Italy March 13, 2012. REUTERS/Max Rossi/File Photo The European Central Bank has rejected a request by Italy’s Monte dei Paschi di Siena (BMPS.MI) for more time to raise capital, a s... 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 hope to reach a compromise on Greek reforms on Monday in a final bid to get International Monetary Fu... More »
Greek Prime Minister Alexis Tsipras (L) and French President Francois Hollande attend a European Union leaders summit in Brussels, Belgium October 21, 2016. REUTERS/Stephane De Sakutin/Pool – RTX2PU1R Greek Prime Minister Alexis Tsipras and French President Fr... 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 Monte dei Paschi di Siena (BMPS.MI) said Italian market regulator Consob had approved its debt-to-equity conversion offer whi... More »
A two Euro coin is pictured next to an English ten Pound note in an illustration taken March 16, 2016. REUTERS/Phil Noble/Illustration/File Photo Euro zone governments are increasingly relying on hedge funds to help them meet their borrowing needs, which risks... 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 The European Central Bank is talking to... More »
German Finance Minister Wolfgang Schaeuble arrives for the weekly cabinet meeting at the Chancellery in Berlin, Germany, November 9, 2016. REUTERS/Axel Schmidt Germany on Wednesday opposed calls for debt relief for Greece after U.S. President Barack Obama offe... 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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
ATHENS/WASHINGTON International Monetary Fund Managing Director Christine Lagarde denied on Sunday that IMF staff would push Greece closer to default as a negotiating tactic on a new Greek bailout deal, which she said was “still a good distance away.” Lagarde ... More »
BRUSSELS Euro zone finance ministers are likely to start discussing debt relief for Greece on the sidelines of the IMF’s spring meetings in mid-April, if there is a deal by then with Athens on a reform package, euro zone officials said. Representatives of Gree... More »
BRUSSELS A team of international lenders from the euro zone and the International Monetary Fund is likely to return to Athens in the coming week to begin to finalize a review of reforms, paving the way for more loan payouts and debt relief talks, officials sai... More »
PARIS Distracted by an unresolved migration crisis and negotiations on keeping Britain in the European Union, euro zone leaders could be caught unprepared by a new storm on financial markets. Global market turmoil since the start of the year has helped set war... More »
BRUSSELS International lenders are concerned with the quality of reforms in Greece, in exchange for which Athens is getting loans, the chairman of euro zone finance ministers Jeroen Dijsselbloem told the European Parliament’s economic committee on Thursday. Di... More »
BERLIN Economic sentiment in the euro zone deteriorated more than expected in January as an economic slowdown in China and its impact on the world economy unsettled investors, survey data released on Monday showed. The Frankfurt-based Sentix research group’s i... More »
LONDON Moribund. Decrepit. Sclerotic. Popular words to describe the economy shared by the 19 countries of the euro zone – but perhaps no longer apt. Very slowly – and primarily because of massive stimulus from the European Central Bank – the euro zone is showi... More »
FRANKFURT The European Central Bank will keep monetary policy easy for as long as necessary in light of risks such as slower growth in emerging economies, its chief economist said in an interview with a Belgian newspaper. The ECB cut its deposit rate earlier t... More »
ATHENS Greece faces relatively low debt servicing needs in the coming years and further debt relief is not a matter of urgency, Greek financial daily Naftemporiki quoted European Central Bank Governing Council member Jens Weidmann as saying on Thursday. “In 20... More »
FRANKFURT The European Central Bank is ready to act quickly to boost anemic inflation in the euro zone, its president said on Friday, offering the strongest hint yet that the bank will unveil fresh stimulus measures at its Dec. 3 meeting. Mario Draghi highligh... More »
BRUSSELS Greece and its euro zone creditors have reached a deal on many, but not all, issues in the program that Athens is implementing in return for loans, the head of euro zone finance ministers Jeroen Dijsselbloem said on Sunday. Greece needs the euro zone ... More »
ATHENSGreece’s parliament approved early Friday a bill with reforms prescribed by the country’s international lenders, ahead of a euro zone finance ministers meeting in three days which will decide if Athens qualifies for fresh bailout funds. Greece needs to l... More »
BRUSSELSThe euro zone may need to spend only 10 billion euros or less to help recapitalize Greek banks, a senior EU official said, after an ECB test showed the sector would need an extra 14.4 billion euros of capital if major risks materialized. Euro zone cred... More »
FRANKFURT Greece’s banks need to raise more than 14 billion euros (10 billion pounds) of extra capital to cover mounting unpaid loans, the European Central Bank said on Saturday as it announced the results of stress tests intended to rehabilitate Greek lenders... More »
ATHENS They defied a vast Persian army in 480 BC, rejected Italy’s ultimatum during World War Two and told Europe to take a hike when presented with an unpalatable bailout deal in July, risking Greece’s place in the euro zone. Greeks celebrate ‘No’ Day, a uniq... More »
BRUSSELS European Union leaders have postponed a deeper discussion of the future of the euro zone until December because of divergent views in the biggest countries and because of the more pressing migration issue, diplomats said. EU leaders, who meet on Thurs... More »
LUXEMBOURG Greece must complete the first review of agreed reforms, including the governance of its financial sector, before European creditors can pump in more money to recapitalize Greek banks, the chairman of euro zone finance ministers said. Jeroen Dijssel... More »
ATHENS Greece will unveil a painful 2016 draft budget on Monday meant to satisfy international creditors, projecting the economy will stay in recession next year before returning to growth in 2017, in line with the estimates by the country’s lenders. After sev... More »
BRUSSELS Greece is likely to qualify for recapitalization funds for its banks by a Nov. 15 deadline because the payment depends mainly on financial sector reforms that it can implement by then, euro zone officials said on Friday. The euro zone bailout fund has... More »
FRANKFURT, Sept 28 The European Central Bank has found that a number of banks under its watch do not comply with international governance best practices, such as separating the audit and risk functions, an ECB executive board member said on Monday. “Our initia... More »
