ECB's Praet calls for caution on bank deleveraging
WASHINGTON - The European Central Bank must be careful that deleveraging by euro zone banks does not affect the economy such that inflation drops too low, ECB Executive Board member Peter Praet said on Wednesday.
Germany takes bilateral paths to tackle EU jobs crisis
BERLIN - Germany is banking on bilateral deals to fight record youth unemployment in the euro zone, agreeing to cooperate with several countries to bypass pan-European bureaucracy.
Bulgaria's largest party seeks to annul election results
SOFIA - Bulgaria's largest political party sought to annul the results of a May 12 election on Wednesday, threatening further uncertainty in the European Union's poorest country where street protests against austerity measures toppled the last government.
EU to ensure firms pay more taxes where they are based - Merkel
BRUSSELS - The European Union will ensure big companies pay more taxes in the countries where they are based, German Chancellor Angela Merkel said on Wednesday.
EU watchdog to tighten securitised debt rules
LONDON - European Union regulators have proposed tighter safeguards on sales of the type of securitised debt that became untradable in the financial crisis, forcing taxpayers to rescue banks.
Germany takes bilateral paths to tackle EU jobs crisis
BERLIN - Germany is banking on bilateral deals to fight record youth unemployment in the euro zone, agreeing to cooperate with several countries to bypass pan-European bureaucracy.
New Iceland government freezes EU talks till referendum
REYKJAVIK - Iceland's centre-right Progressive and Independence parties agreed on a coalition government on Wednesday and said they would freeze talks on entering the European Union until a referendum on whether or not to continue the process.
Germany backs call to put Hezbollah armed wing on EU terror list
BRUSSELS - Germany will throw its weight behind a British drive to put the armed wing of Hezbollah on the European Union's list of terrorist organisations, German diplomats said on Wednesday.
Credit rating firms sow doubt on euro zone bond rally
LONDON - Credit rating firms say they could further downgrade the ratings of highly indebted euro zone countries, putting their bonds at risk of being pitched out of global indexes and reversing a fall in their borrowing costs.
Fed's Bullard recommends euro zone consider quantitative easing
FRANKFURT - A top U.S. Federal Reserve official urged the European Central Bank on Tuesday to consider employing a U.S.-style quantitative easing programme to counter slowing inflation and recession in the euro zone.
EURO ZONE EMERGES FROM CRISIS
Rome will burn, regardless of vote
Regardless of who wins the election, Italy's long economic decline is likely to continue because the next government won't be strong enough to pursue the reforms needed to make its economy competitive again. Full Article
BRUSSELS AND THE EU LABYRINTH
Euro zone economy to shrink again
The euro zone will not return to growth until 2014, the European Commission said, reversing its prediction for an end to recession this year and blaming a lack of bank lending and record joblessness for delaying the recovery. Full Article
Don't rush towards Euro-pessimism
The siren call of Euro-pessimism should be ignored. It was wrong in 2010, and it will be wrong now. Europe faces hard years with no clear path, but that is not the same as dissolution and chaos. Full Article
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