“The European Council of March will have as its main issue the competitiveness of the European economy,” Prime Minister Kyriakos Mitsotakis said on Thursday upon his arrival at the Brussels summit.
EURO
Do the almost simultaneous bank crises on the opposite sides of the Atlantic imply a disaster like the Lehman Brothers collapse? Let’s start from the United States. Banking crises start suddenly but they typically have long-term causes.
Bulgaria is scrapping its target to adopt the euro in January 2024 as it fails to meet some criteria, but should seek to join the common currency by 2025 or possibly earlier, Finance Minister Rossitsa Velkova said on Friday.
The recent drop in eurozone inflation is fueling optimism, Greek central bank chief Yannis Stournaras said on Thursday, suggesting that interest rates may not have to be raised to a level that pushes the bloc into recession.
The European Central Bank and the European Banking Authority (EBA) will this year perform stress tests on 99 credit institutions of the eurozone, including banks in Greece.
The European Central Bank is set to raise interest rates again on Thursday and pencil in more hikes for the next few months, with the only open question being how big these will be.
Behind the horrors of war, amidst successive international crises, a favorable reality for Europe (and Greece) is quietly unfolding.
More than nine years after Croatia became the European Union’s newest member, the country is on a roll to make the most of its status as the EU member in the Balkans.
European Union countries’ energy ministers were discussing a draft compromise on Monday to cap gas prices if Europe’s benchmark gas price spikes to 180 euros per megawatt hour, a document showed.
The Eurogroup has reached a historic landmark decision for Greece, Finance Minister Christos Staikouras said on Tuesday, referring to the decision by the economy and finance ministers of the eurozone to ease Greece’s national debt by some 6 billion euros. Speaking to the Greek Parliament through a teleconference from Brussels, Staikouras said: “Today is a […]
Inflation in the 19 countries that use the euro currency eased to 10% this month as fuel and utilities drifted down from painful highs, but it is near the record levels that have robbed consumers of spending power and led economists to predict a recession.
Banks in Italy, Portugal, Greece and Cyprus could suffer some of the biggest increases in non-performing loans while France, Ireland and Luxembourg could be among the best performers, the European Central Bank said in a fresh study on Tuesday.
Nineteen central bank governors from European Union countries are expected to arrive in Cyprus on Tuesday. The Governing Council of the European Central Bank decided to hold its non-monetary policy meeting in Cyprus, scheduled for Wednesday and Thursday, and to be chaired by ECB President Christine Lagarde.
Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe’s major economies as higher prices undermine consumers’ spending power.
Inflation in the European countries using the euro currency hit another record in August, fuelled by soaring energy prices mainly driven by Russia’s war in Ukraine.
It was meant to be Europe’s stellar year. A post-pandemic spending euphoria, supported by copious government spending was set to drive the economy and help fatigued households regain a sense of normality after two dreadful years.
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