Europe Explained

ECB should shed half its bonds and then buy some more -staff paper

The European Central Bank should halve its stock of bonds by mid-2026 before resuming purchases to underpin banks' lending to the economy, according to a paper by top ECB staff.…

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EU loophole lets banks dodge ECB’s crypto supervision, needs fixing -Enria

EU rules to protect the financial system from risks stemming from cryptocurrencies contain a loophole that allows banks to circumvent some safeguards and should be fixed urgently, the European Central Bank's chief…

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Euro zone should not ease bank buffers, ECB says

Euro zone economic growth will remain weak in the near term as services and the labour market weaken but nations in the bloc should not free discretionary bank buffers to…

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ECB hawks take aim at rate cut bets for first half of 2024

Two European Central Bank policymakers pushed back on Monday against market bets that the ECB will start cutting interest rates in the first half of next year and undo some…

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ECB has long road on disinflation but in a good place now: Dutch Governor

The European Central Bank has made "important progress" in getting inflation back down to target but there is still a long road ahead and a further rate hike cannot be…

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ECB to write to Italy raising objections over windfall tax on banks – press

The European Central Bank (ECB) is preparing to send a letter to Italy raising objections about the government's windfall tax on banks' profits, the Corriere della Sera daily wrote on…

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ECB to raise interest rates for ninth time in a row

The European Central Bank will raise interest rates for the ninth time in a row on Thursday and keep the door open to further moves as persistent inflation and growing…

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Encrypted phone service ‘Encrochat’ shutdown leads to 6,500 arrests – Europol

European policing agency Europol said on Tuesday that the takedown of Encrochat, an underground company that offered criminals supposedly secure encrypted communications, led to more than 6,500 arrests and 900…

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Italy says ECB war against inflation will hit growth

Interest rate rises set by the European Central Bank (ECB) to curb inflation will take their toll in terms of lower economic growth, Economy Minister Giancarlo Giorgetti said on Monday.…

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European elections 2024: Parliament proposes more seats for nine EU countries

The European Parliament has adopted the proposal on its composition seeking to increase the number of seats by 11, to a total of 716, ahead of the European elections in…

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ECB to raise rates further even as economy stutters

The European Central Bank is all but certain to raise borrowing costs to their highest level in 22 years on Thursday and leave the door open to more hikes, extending…

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Tighter ECB policy could push up bad debt levels – de Guindos

FRANKFURT, May 14 (Reuters) - European Central Bank interest rate hikes are in their final stretch, ECB Vice President Luis de Guindos told an Italian newspaper, while warning that higher…

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Euro zone banks slowed lending further in March, ECB says

Bank lending to euro zone companies and households slowed again in March as higher interest rates and an uncertain economic outlook appeared to put a dampener on credit, European Central Bank data…

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ECB should keep raising rates until mid-2024, EU must tighten fiscal policy -IMF

The International Monetary Fund called on the European Central Bank on Friday to keep raising interest rates until the middle of 2024 and on European Union finance ministers to tighten fiscal policy…

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Half of Europeans concerned on ability to pay their bills

Almost half of European consumers (48%) were worried about being able to pay their bills, and a large majority (71%) took measures to reduce their energy consumption at home. In…

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Banking crisis headlines EP Committee activity

Having quizzed ECB President Christine Lagarde on the bank’s measures to deal with an economic environment marked by high uncertainty and strong inflationary pressures, the Economic and Monetary Affairs Committee…

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Lagarde says ECB ready to help banks but sector is ‘resilient’

The European Central Bank remains ready to support euro zone banks with loans if needed, ECB President Christine Lagarde told MEPs, as she reiterated earlier assurances after the Swiss-brokered rescue…

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ECB survey sees moderating inflation, rising wage expectations

Inflation expectations among euro zone consumers dropped in January but expectations for wage growth continued to rise, adding to fears wage growth will slow efforts to control prices, a European…

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Spain defends use of EU aid as transparent after MEP’s doubts

Spain defended its management of billions of euros of European pandemic recovery funds as transparent, rejecting allegations of opacity by the chair of the European Parliament's budget control committee who…

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ECB must avoid unnecessary rise in real interest rates – Bank of Italy Governor

The European Central Bank (ECB) must avoid pushing real interest rates too high, given the level of private and public debt in the euro area, a top Italian policymaker said on Saturday. ECB Governing…

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Euro zone business activity back to growth in January

Euro zone business activity made a surprise return to modest growth in January, adding to signs the downturn in the bloc may not be as deep as feared and that…

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New rules needed to prevent NGOs being used by foreign actors – EPP Group

The EPP Group calls for new rules to prevent NGOs from being used by foreign actors, for funding transparency of NGOs, for a formal suspension of the S&D Chair of…

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EP reconvenes for first plenary of 2023 as Qatargate dominates proceedings

The European Parliament resumes plenary sessions in Strasbourg this week, where it will be voting for a new Vice President of the European Parliament, deciding its position on a new…

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Metsola to set out transparency plan to respond to EP scandal

The head of the European Parliament will set out a 14-point plan on Thursday to tighten within weeks rules for lawmakers on financial declarations and contacts with lobbyists, in a…

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ECB’s Centeno: we are approaching the end of the interest rate rise process

LISBON, Jan 10 (Reuters) - European Central Bank's governing council member Mario Centeno said on Tuesday the current process of interest rate increases is approaching its end. The central banker, who was…

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Goldman Sachs no longer expects recession in euro zone in 2023

Goldman Sachs said on Tuesday it expects the euro zone economy to grow by 0.6% this year, compared with its previous forecast of a contraction, thanks to a fall in natural gas…

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ECB must step up efforts to ‘green’ monetary policy, board member says

The European Central Bank must adjust its monetary policy to make it more climate-friendly, even as it shrinks its bloated balance sheet to fight runaway inflation in the euro zone, ECB board…

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EIB lends €20 million to biotech company for development of cancer treatment

The European Investment Bank (EIB), backed by the InvestEU programme, has today announced it has provided a €20 million venture debt loan facility to Affibody. Affibody is a Swedish clinical…

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Sakharov Prize 2022: European Parliament honours the Ukrainian People

Parliament’s 2022 Sakharov Prize was awarded to the brave People of Ukraine, in a ceremony on 14 December.They were represented by their president, elected leaders and civil society at the…

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EP reaches deal on new rules to protect consumers from taking on too much debt

MEPs have reached a provisional deal with Council on new measures protecting consumers from credit card debt, overdrafts and loans unsuitable for their financial situation. Negotiators from Parliament and Council…

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ECB says inflation hasn’t peaked, may surprise

Euro zone inflation has not peaked and it risks turning out even higher than currently expected, European Central Bank President Christine Lagarde said on Monday, hinting at a series of…

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European Parliament celebrates 70th anniversary

In a ceremony in Strasbourg’s hemicycle, MEPs marked the creation of the Common Assembly of the European Coal and Steel Community in 1952, the EP’s forerunner. EP President Roberta Metsola…

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Euro zone banks could take big hit from inflation income drain, ECB says

Euro zone banks may see a surge in soured loans as rapid inflation and rising interest rates hit household incomes, particularly among the bloc's poorest, the European Central Bank said…

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ECB will probably keep raising rates beyond 2% level – Villeroy

The European Central Bank (ECB) will probably continue to raise interest rates beyond 2%, but "jumbo" rate hikes will not become a new habit, France's central bank chief said in…

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Energy crisis: MEPs back plans to boost the deployment of renewables

MEPs in the Industry, Energy and Research Committee shortened the maximum period to approve new installations from twelve to nine months, if located in the so-called "renewables acceleration areas". These…

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EP Socialists call for Croatian integration into Schengen

During today’s plenary debate, the S&D Group in the European Parliament has expressed its support for full Schengen membership for Croatia. The European Parliament is consulted as part of the…

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EPP calls for stronger enforcement of fiscal rules

The centre-right EPP group said that a credible economic governance framework is based on sound rules and their compliance and enforcement. “Unfortunately, the latter has not been the case for…

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ECB must keep raising rates even if recession risks rise, Lagarde says

The European Central Bank must keep raising interest rates to fight off inflation, even if the probability of a euro zone recession has increased, ECB President Christine Lagarde said in an interview…

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Gozo ferries to be exempted from tougher environmental requirements after EP vote

The European Parliament has voted in favour of more ambitious EU rules aimed at improving the use of renewable and low-carbon fuels in maritime transport, but Maltese MEP Josianne Cutajar…

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Український народ отримав премію Сахарова від Європарламенту-2022 / The Ukrainian people awarded EP 2022 Sakharov Prize

Український народ отримав премію Сахарова від Європарламенту-2022 Депутати Європарламенту нагородили хоробрий народ України в особі президента, обраних лідерів і громадянського суспільства премією Сахарова 2022-го року за свободу думки. Президентка Європейського…

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No true freedom without media freedom – Roberta Metsola

Freedom of speech cannot be taken for granted, European Parliament President Roberta Metsola told a Media Freedom Seminar in Strasbourg. “The reality is that this cannot be further away from…

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EP urges Member States to allow Romania and Bulgaria in Schengen area

The European Parliament has urged member states to allow Romania and Bulgaria to join the Schengen free-travel area without delay. In a resolution adopted earlier today, MEPs called on the…

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MEPs block Frontex budget after serious misconduct revealed

The European Parliament has refused to give its approval for the budget of Frontex, the border and coast guard agency. 345 MEPs voted in favour of the committee recommendation to…

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MEPs call on Maltese Government to take further action to address media freedom

MEPs across the political spectrum called on the Maltese Government to carry out reforms which enhance the rule of law and media freedom, as they paid tribute to assassinated journalist…

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MEPs call for “massive increase” of military assistance to Ukraine

(English, Maltese below) Депутати Європарламенту закликають суттєво збільшити військову допомогу Україні Євродепутати закликали всі країни та міжнародні організації однозначно засудити фіктивні референдуми в Україні та спробу Росії заволодіти територією насильно.…

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