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EU probes Greek airlines merger

EU anti-trust authorities said Tuesday they had opened a full probe into the planned takeover of Greece's Olympic Air by Aegean Airlines. The European Commission said that the merger of the two main Greek airlines offering passenger air transport services on Greek domestic and international routes raised "concerns that the transaction may lead to price increases and poorer service." The companies now have until September 3 to respond.

EU plan to buy rebel oil 'act of aggression'

An EU plan to buy oil from rebel-held areas of Syria is illegal and an "act of aggression," the Syrian foreign ministry warned on Tuesday in letters to the United Nations. "In an unprecedented decision that contradicts international law and the UN Charter... the European Union has decided to allow member states to import petrol... under the pretext of supporting the opposition," state news agency SANA reported, citing the letters. "It is an illegal decision and an act of aggression."

Cyprus a 'guinea pig' for EU haircut experiment

Cyprus was a "guinea pig" for an EU-imposed experiment that saw bank depositors slapped with a levy on their savings, President Nicos Anastasiades told a meeting of EU parliament speakers on Monday. The eurozone last week formally approved a bailout for Cyprus, which will have to stump up 13 billion euros ($17 billion) of its own to secure 10 billion euros from the European Union and International Monetary Fund.

EU ends Myanmar sanctions, arms embargo remains

EU foreign ministers agreed Monday to lift the last of the bloc's trade, economic and individual sanctions against Myanmar, hailing "a new chapter" with the once pariah state. "In response to the changes that have taken place and in the expectation that they will continue, the Council (of ministers) has decided to lift all sanctions with the exception of the embargo on arms," said a statement approved without a vote. "The EU is willing to open a new chapter in its relations with Myanmar/Burma, building a lasting partnership," it added.

EU ends Myanmar sanctions, arms embargo remains

EU foreign ministers agreed Monday to lift the last of the bloc's trade, economic and individual sanctions against Myanmar, hailing "a new chapter" with the once pariah state. "In response to the changes that have taken place and in the expectation that they will continue, the Council (of ministers) has decided to lift all sanctions with the exception of the embargo on arms," said a statement approved without a vote. "The EU is willing to open a new chapter in its relations with Myanmar/Burma, building a lasting partnership," it added.

EU eases Syria oil embargo to assist rebels

European Union foreign ministers on Monday eased an oil embargo against Syria with the aim of helping rebels fighting President Bashar al-Assad's regime. Under the deal, European firms seeking to import Syrian crude or invest in the energy sector would ask for authorisation from their government, which in turn would confer with Syria's opposition National Coalition to secure its agreement.

CORRECTED: EU to lift Myanmar sanctions in 'new chapter' in ties

The European Union plans to lift the last of its trade, economic and individual sanctions against Myanmar on Monday as it embarks on "a new chapter" with the once pariah state. "The EU is willing to open a new chapter in its relations with Myanmar/Burma, building a lasting partnership," said the draft of an EU foreign ministers' statement obtained by AFP.

EU to lift Myanmar sanctions in 'new chapter' in ties

The European Union plans to lift the last of its trade, economic and individual sanctions against Myanmar on Monday as it embarks on "a new chapter" with the once pariah state. "The EU is willing to open a new chapter in its relations with Myanmar/Burma, building a lasting partnership," said the draft of an EU foreign ministers' statement obtained by AFP.

Brussels favours talks to bring Serbia, Kosovo close to EU

The European Commission on Monday recommended opening long hoped-for negotiations on Serbia's entry into the EU after Belgrade last week struck a deal to normalise ties with its former province Kosovo. Serbia is hoping to be given a date to kick off EU accession talks at a summit in June, and clinching the deal with Kosovo was the last major hurdle in its efforts to move closer to the 27-nation bloc.

EU puts 2012 Spanish deficit at 10.6% of GDP

The European Commission released on Monday final deficit and debt data for eurozone and EU states that was in line with upward revisions announced in late March by key countries such as Spain and France. The figures showed that Spain posted a 2012 deficit of 10.6 percent of gross domestic product (GDP), including the cost to the state of recapitalising broken banks. Madrid said at the end of March that when this cost was stripped out of the calculation, the public deficit fell to 6.98 percent of GDP.
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