European Union finance chiefs have failed to reach an agreement on regulating banks across the continent. The 27 finance leaders met in Brussels Tuesday, but left without a compromise after French Finance Minister Pierre Moscovici and his German counterpart, Wolfgang Schaeuble, clashed on the extent of the banking regulatory power that the European Central Bank […]
EU Finance Chiefs Fail to Reach Bank Regulation Pact
Posted December 4th, 2012 at 11:10 am (UTC-5)
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Clinton Pushing Energy Diversity in Czech Republic
Posted December 3rd, 2012 at 7:55 am (UTC-5)
U.S. Secretary of State Hillary Clinton says she is “not shy” about pushing for an American firm to win a nuclear plant construction contract in the Czech Republic. U.S. firm Westinghouse and a Russian company are bidding on a $10 billion contract to expand the Temelin nuclear plant. The Czech Republic wants to boost its […]
Clinton Pushing Energy Diversity in Czech Republic
Posted December 3rd, 2012 at 1:55 am (UTC-5)
U.S. Secretary of State Hillary Clinton is in the Czech Republic for a short visit that includes a push to help a U.S. firm win a nuclear plant construction contract. Clinton meets Monday with Czech Prime Minister Petr Necas and Foreign Minister Karel Schwarzenberg. The Czech Republic wants to boost its nuclear capacity to produce […]
Eurozone Jobless Rate Still Worsening
Posted November 30th, 2012 at 10:25 am (UTC-5)
The jobless rate in Europe’s euro currency bloc is continuing to worsen. The latest eurozone report Friday pegged the unemployment rate at 11.7 percent in October, the highest level since the currency union was formed in 1999. Another 173,000 workers were added to the unemployment rolls, pushing the total in the 17-nation region to nearly […]
EU Rescues Four Spanish Banks
Posted November 28th, 2012 at 12:10 pm (UTC-5)
The European Union is sending a $48 billion rescue package to four debt-ridden Spanish banks, but only after ordering them to sharply cut their loans and investments, slash their workforces and impose heavy losses on their investors. European Commission Vice President Joaquin Almunia said Wednesday the bailout aid would be sent to lenders Bankia, NCG […]
Eurozone, IMF Reach Deal on Greek Bailout
Posted November 26th, 2012 at 9:25 pm (UTC-5)
Eurozone finance ministers have reached a deal with the International Monetary Fund on reducing Greece’s debt and releasing immediate bailout money, in an effort to help the country avoid bankruptcy. Greece’s international lenders Monday agreed to reduce its debt to 124 percent of gross domestic product by 2020. The original goal had been 120 percent. […]
Eurozone Finance Ministers Meet on Greek Bailout
Posted November 26th, 2012 at 1:10 pm (UTC-5)
Eurozone finance ministers are trying to reach a deal on immediate bailout money for Greece in an effort to help the country avoid bankruptcy. Monday’s meeting in Brussels is the third time in as many weeks that the ministers from the 17-nation group have attempted to reach an agreement to release a $40 billion rescue […]
EU President: Budget Deal Possible Early Next Year
Posted November 23rd, 2012 at 2:15 pm (UTC-5)
European Union President Herman Van Rompuy says an EU budget deal is possible early next year, despite the end of a two-day summit in Brussels Friday that failed to reach agreement. Van Rompuy downplayed division, saying that “constructive discussions” at the summit meant a deal for the 27-nation bloc could be viable in early 2013. […]
EU Leaders Make Little Progress in Budget Talks
Posted November 23rd, 2012 at 10:30 am (UTC-5)
European Union leaders made little progress Friday at a second day of talks on a new budget aimed at confronting the economic crisis facing the 27-nation bloc. At an EU summit in Brussels, tensions remained high between wealthy member states and countries seeking a bigger aid budget. British Prime Minister David Cameron, a supporter of […]
Britain: Not Enough Progress at EU Budget Summit
Posted November 23rd, 2012 at 6:55 am (UTC-5)
European Union leaders are meeting Friday in Brussels for a second day on a proposed budget that has divided the 27-nation bloc as it confronts economic crisis. In a battle pitting wealthy member states against those seeking a bigger aid budget, British Prime Minister David Cameron has threatened to use his veto unless spending levels […]
