• Eurogroup meeting starts today

      Eurogroup meeting starts today

      Vice-President of the European Commission Valdis Dombrovskis, Commissioner Guenther Oettinger and Commissioner Pierre Moscovici will represent the Commission at today's Eurogroup meeting. The Eurogroup will ouline the main findings of the Commission's post-programme surveillance missions to Ireland and Portugal and will discuss the economic outlook for the euro area on the basis of the Commission's Winter 2019 Economic Forecast.

    • ECB in move to set bad debt deadline

      ECB in move to set bad debt deadline

      All banks supervised by the European Central Bank (ECB) will be given a target date to fully provision for their bad debt in line with how they treat new loans, a source familiar with the matter said last Tuesday cited by Reuters. The medium term date may differ from bank to bank and will be an expectation rather than a binding requirement, the source added.

    • Germany should push Weidmann as ECB chief

      Germany should push Weidmann as ECB chief

      Germany should push Bundesbank chief Jens Weidmann as a successor to European Central Bank President Mario Draghi and the government is making a grave mistake in not pushing harder, ECB policymaker Ewald Nowotny said on Thursday. Draghi’s job will become available at the end of next October. By that time Nowotny - the head of the Austrian National Bank and a moderate policy hawk who has often sided with Weidmann - will have left his post too. “I would have welcomed a candidacy of Weidmann very much,” Nowotny told the Oberoesterreichische Nachrichten newspaper.” I personally believe it is a grave political mistake by (German Chancellor) Angela Merkel that she is no longer pursuing Weidmann’s candidacy further.”

    • ECB fines France’s Credit Agricole with nearly €5m

      ECB fines France’s Credit Agricole with nearly €5m

      The European Central Bank announced it has slapped three fines totalling almost €5m on French lender Credit Agricole and several subsidiaries for breaching the rules on the way banks are supposed to classify certain capital reserves. The fine marks the second-biggest penalty in the banking watchdog, the Single Supervision Mechanism’s history, after last year it fined Italy’s Banco Popolare di Vicenza €11.2m.