Greek Prime Minister Antonis Samaras presented his country’s priorities for its six months at the helm of the EU to MEPs. The presidency, which started on 1 January, will focus on boosting growth and jobs, the banking union and an immigration policy based on more solidarity. Mr Samaras said there was a clear need for […]
Troika Time – Klaus Regling Gets Grilled By MEPs
MEPs questioned EU bailout fund chief Klaus Regling on Wednesday as part of their inquiry into the anti-crisis role and operations of the European Central Bank/IMF/EU Commission “Troika”. Mr Regling recognised that the remedies had created hardship, but stressed that the severity of the crisis had made the decisions taken necessary. He also said that […]
Final Stage Of Banking Union At Risk Says Workmann-Kool
“The final dossier of the Banking Union might be at risk. We demand a more efficient procedure for failing banks”, stated Corien Wortmann-Kool, Vice-Chairwoman of the EPP Group and Shadow Rapporteur on the Single Resolution Mechanism (SRM) dossier. Wortmann-Kool expressed her disappointment on Thursday morning following the start of trilogue negotiations with the Council and […]
ECB Can’t Get No, Satisfaction, From The German, CPI Data…
Inflationary pressure in Germany remains low. Based on the results of several regional states, German headline inflation increased to 1.4% YoY in December, from 1.3% in November. On the month, German prices increased by 0.4% MoM. Based on the harmonised European definition (HICP), headline inflation decreased to 1.2%, from 1.6% in November. On the month, […]
Latvia Joins Euro With Smooth Transition
Latvia has adopted the euro as its official currency and “the changeover is running smoothly and according to plan” according to the European Commission. The previous national currency – the lat – is now being phased out during a transitional two-week dual circulation period when both currencies have legal tender status. By the end of […]
Tsipras Meets Rehn. The Bro-mance That Never Was.
In Brussels, Alexis Tsipras, Greek MP and President of Synaspismos, met with Mr Karas and Mr Liêm Hoang Ngoc, to be briefed about the progress of the ongoing inquiry by the Economic and Monetary Affairs Committee of the European Parliament on the role of the troika in the countries under Memorandum, Tsipras said: “We came […]
“Banks Can No Longer Exclude Citizens From Society,” – Klute
Everyone legally residing in the EU must have the right to open a basic payment account, and this right should not be denied on grounds of nationality or place of residence, said the Economic and Monetary Affairs Committee amending a draft law to this end, Monday, in Strasbourg. Fees and rules for these accounts should […]
‘Spain! Get With The Programme!’ Says Commission
Olli Rehn sent Spain to the naughty step, again. For the first time, the European Commission has issued opinions on euro area Member States’ Draft Budgetary Plans, which from this year must be submitted to the Commission by 15 October, at the same time as draft budgets are sent to national parliaments. Presenting a major package […]
Rehn Cashes In On Luck Of The Irish
Speaking after the Eurogroup meeting in Brussels, Wednesday, Vice-President, Olli Rehn, was more than upbeat, congratulating: “Ireland and Spain, the Irish and the Spanish people, for the decisions of today. Ireland’s decision to exit the programme without a precautionary credit facility is very important. I know the Irish Government reflected very carefully on this matter. […]
Agent 0.00, Draghi Neither Shaken Nor Stirred
Mario Draghi, President of the European Central Bank, yesterday explained the ECB’s rationale for lowering interest rates. Speaking in Frankfurt, Draghi said: “… the economic analysis indicates that we may experience a prolonged period of low inflation, to be followed by a gradual upward movement towards inflation rates below, but close to, 2% later on. […]