European Union banks that do not pass the next round of stress tests and need to secure more funding will have no further recourse to public money, the EU’s antitrust chief told a German newspaper, though he later said he had been misquoted.Friday, 19 July, 2013, 3:13pm
The European Central Bank on Thursday held its key rates unchanged, as widely expected, at its regular monthly policy meeting.
The ECB’s governing council voted to keep the bank’s key “refi” refinancing rate steady at an all-time low of 0.50 per cent, it said in a statement.4 Jul 2013 - 9:45pm
EU watchdogs have charged 13 top investment banks with blocking exchanges’ access to the lucrative credit derivatives market, hitting the sector with the latest in a growing list of regulatory headaches.2 Jul 2013 - 1:01pm
Euro zone banks are refusing to lend to peers in other countries in the common currency bloc, signalling a worrying fall in confidence that appears to have worsened since the Cyprus bailout earlier this year, data analysed by Reuters showed.21 Jun 2013 - 2:54pm
If the Troika that handles bailouts of distressed euro zone countries were a soccer team, it would probably be looking for a new manager after achieving a track record of one win, one loss and one draw.11 Jun 2013 - 12:33pm
Greek business is awakening from a coma; the long-forgotten sound of drills and hammers can be heard on Athens construction sites again while customers queue calmly at banks to deposit cash rather than to withdraw it in panic.11 Jun 2013 - 10:58am
It takes a big person to acknowledge he was wrong, and the International Monetary Fund has now repeatedly admitted to the failure of its euro-area rescue policies.11 Jun 2013 - 4:39am
More than a thousand people rallied in front of the European Central Bank in the pouring rain on Friday to protest austerity policies across different countries in the euro area.
In a demonstration organised by the anti-capitalist movement Blockupy, police put the number of participants at 1,200-1,500 while the organisers themselves claimed there were 3,000 protestors.31 May 2013 - 5:46pm 1 comment
A draft law that a group of European Union lawmakers voted for on Monday would shield small depositors from losing their savings in future bank rescues, but customers with more than 100,000 euros (HK$997,800) in savings when a bank failed could suffer losses.21 May 2013 - 11:10am
The European Central Bank held its main refinancing rate at a historic low of 0.75 per cent yesterday, playing down concerns that political gridlock in Italy could trigger a resurgence in Europe's debt crisis.8 Mar 2013 - 5:37am