Euro Zone

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EU bonus cap could hit 10 times as many London bankers

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LONDON - European Union officials will next week propose capping financial sector pay above 500,000 euros, accountancy firm PwC said on Friday, suggesting the world's most stringent curbs for the industry will affect far more bankers than previous rules.

Brussels, Berlin lukewarm on Hollande's euro zone vision

BRUSSELS - European officials gave a lukewarm response to French President Francois Hollande's sweeping proposals for deeper euro zone integration on Friday, noting that many of his ideas were already in circulation.

Business, World 17 May 2013

Bulgarian president calls parliament quickly to end impasse

SOFIA - Bulgarian President Rosen Plevneliev will convene parliament on May 21, in an attempt to have a government formed quickly and end a political impasse in the European Union's poorest country.

17 May 2013

Italy PM Letta says housing tax to be reformed by end August

ROME - The Italian government will reform an unpopular housing tax, IMU, by the end of August, Prime Minister Enrico Letta said on Friday, saying that the changes would be fully funded and would respect European Union deficit limits.

17 May 2013

ECB's Mersch says asset quality review could start in Q3

LONDON - An assessment of banks' assets before the European Central Bank takes over bank supervision in the euro zone could start in the third quarter of this year, ECB policymaker Yves Mersch said on Friday.

17 May 2013

Cooling prices, falling imports highlight euro zone's malaise

BRUSSELS - Falling prices in Germany and France pulled euro zone consumer inflation to a three-year low in April while imports fell 10 percent in March, as new data showed the depth of the bloc's downturn.

16 May 2013

France's Hollande urges euro zone government

PARIS - French President Francois Hollande called on Thursday for an economic government for the euro zone with its own budget, the right to borrow, a harmonised tax system and a full-time president.

16 May 2013

Path clear for Croatia's EU entry after Germany ratifies treaty

BERLIN - The German lower house of parliament approved Croatia's entry to the European Union on Thursday, clearing the last formal hurdle for the former Yugoslav republic to enter the bloc.

16 May 2013

EU supervisors to study banks' assets, delay stress test

LONDON - Supervisors across the European Union will examine the way that top banks classify and value loans and other assets to ensure that the stress tests they conduct do a better job of finding any problems.

16 May 2013

EU trade chief urges no exclusions in EU/US trade talks

BRUSSELS - European Union trade chief Karel de Gucht urged EU members on Thursday not to exclude film and television from EU-U.S. free trade talks, saying that could prompt similar action from the Americans and undermine an eventual deal.

16 May 2013

EURO ZONE EMERGES FROM CRISIS

BRUSSELS AND THE EU LABYRINTH

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