Connect to share and comment

No reason to again give France more time to cut deficit: Rehn

By Jan Strupczewski BRUSSELS (Reuters) - There is no reason to further extend a European Union deadline for France to cut its budget deficit, the EU's top economic official said on Saturday, adding policy-makers should have learnt the lessons of the debt crisis and stuck to agreed rules. In June last year Paris got two more years, until 2015, to bring its budget shortfall below the EU ceiling of 3 percent of gross domestic product (GDP), from a 4 percent gap the European Commission expects it to have this year.

France's new finance minister to meet Schaeuble next week

France's new Finance Minister Michel Sapin will meet his German counterpart in Berlin on Monday, a German finance ministry spokeswoman told AFP. European and bilateral issues will be the focus of the talks with Germany's Wolfgang Schaeuble, with a joint press conference planned afterwards. The visit will come days after Sapin, who was appointed on Wednesday in a government re-shuffle, said he would discuss the "pace" of deficit reduction during talks with EU partners.

Euro zone may need lower rates: ECB member

PARIS (Reuters) - Euro zone countries are experiencing a recovery but lower interest rates may be needed to nurture it, European Central Bank executive board member Benoit Coeure told France's Le Figaro newspaper on Friday. "The markets anticipate an economic recovery," he said in an interview published on the newspaper's web site. "At the ECB we consider that the recovery has already arrived, but we know it to be gradual and fragile. We therefore want to accompany it with low, indeed lower interest rates, over a prolonged period."

ECB's Constancio says euro zone first-quarter growth 'very encouraging'

CERNOBBIO, Italy (Reuters) - The euro zone economy is likely to have grown further in the first three months of 2014, a development that is "very encouraging", the vice president of the European Central Bank said on Friday. The ECB kept its monetary policy stance unchanged on Thursday, but sent its strongest message yet that it is ready to consider even the most extreme measures like printing money to fight the risk of deflation.

France's new finance minister to meet Schaeuble next week

France's new Finance Minister Michel Sapin will meet his German counterpart in Berlin on Monday, a German finance ministry spokeswoman told AFP. European and bilateral issues will be the focus of the talks with Germany's Wolfgang Schaeuble, with a joint press conference planned afterwards. But the visit will come days after Sapin, who was appointed on Wednesday in a government re-shuffle, said he would discuss the "pace" of deficit reduction during talks with EU partners -- seen as a sign that Paris wants more time to cut spending amid a prolonged economic downturn.

France angles for new EU timetable on budget limits

France's reshuffled government took a combative tone with Brussels on Thursday, with new Finance Minister Michel Sapin saying the "pace" of deficit reduction would be raised in talks with the EU. European Central Bank President Mario Draghi quickly fired back, saying that reviewing budget commitments would undermine confidence in the eurozone. With the EU pushing France to reduce its deficit, Sapin said he would work with the European Commission to "find the path to common interests".

France angles for new EU timetable on budget limits

France's reshuffled government took a combative tone with Brussels on Thursday, with new Finance Minister Michel Sapin saying the "pace" of deficit reduction would be raised in EU talks. European Central Bank President Mario Draghi quickly fired back that reviewing budget commitments would undermine confidence in the eurozone. With the European Union pushing France to reduce its deficit, Sapin said he would work with the European Commission to "find the path to common interests".

Price cuts aid first-quarter growth for euro zone businesses

By Jonathan Cable LONDON (Reuters) - Euro zone businesses started 2014 with their best quarter in three years, but buoyant growth came at a cost as they slashed prices to drum up trade, which could further stoke deflation fears. The European Central Bank is not expected to ease policy when it meets later on Thursday, relying instead on verbal support to allay fears that falling prices in several euro zone countries could spread to the whole bloc. <ECB/INT>

European stocks, euro dip before ECB meeting

Europe's main stock markets dipped in cautious trading on Thursday ahead of the European Central Bank's latest monetary policy meeting and on the eve of US jobs data. Frankfurt's DAX 30 inched down 0.07 percent to 9,616.43 points and the CAC 40 in Paris fell by the same percentage to reach 4,427.74 points in midday deals. London's FTSE 100 index slipped 0.09 percent in value to stand at 6,653.26 compared with Wednesday's closing values. "Traders are ... staying on the sidelines before the ECB decision," said Varengold Bank trader Anita Paluch.

ECB holds key rate steady at 0.25%

The European Central Bank held its key interest rates steady as widely expected on Thursday. The ECB left its central "refi" or refinancing rate unchanged at 0.25 percent at its monthly policy meeting, it said in a statement. The central bank also held its other two key rates -- the marginal lending rate and the deposit rate -- unchanged at 0.75 percent and zero percent respectively. Few market players had been expecting the central bank to ease monetary conditions in the 18 countries that share the euro, despite the worryingly low level of inflation.
Syndicate content