Eurozone

Central banks gear up to fight slump with low interest rates

It remains to be seen if the measures are enough to spur spending.

Lagarde resigns as IMF chief, cites more clarity on ECB post

International Monetary Fund Managing Director Christine Lagarde's resignation comes two weeks after her nomination on July 2 for the ECB top job.

Eurozone growth, inflation cut as risks from US trade grow

In its quarterly economic forecasts, the European Union's executive arm says prices will grow less than previously predicted, pushing the inflation rate further off the European Central Bank's target of close to but less than two percent.

Has the euro made Europe poorer?

The European Union promised its member countries wealth and prosperity, but a recently released report calls this premise into question.

What came out of the latest EU summit?

In a two-day summit, the EU leaders discussed possible solutions to long-standing issues affecting the union. Here are some key takeaways.

EU rejects Italy budget, sanctions may follow

European Commission takes first step towards disciplining Italy over its draft 2019 budget but defiant Rome says it had no intention of changing its plans and sanctions would be "disrespectful" towards Italians.

EU rejects Italian draft budget, setting up standoff with defiant Italy

Italian yields surge on the European Commission’s rejection of Rome’s budget plan, as Italy faces disciplinary action if it does not comply.

Italy tells EU no change to budget, but will keep eye on debt, deficit

The EU says Italy's spending is too high relative to tax receipts, and its budget deficit must come down.

Greece leaves bailouts behind after biting austerity

Greece returns to growth for the first time since 2010 as its once vast public deficit is turned into a solid budget surplus.

Eurozone creditors reach deal on Greek debt relief

Eurozone ministers agreed to extend maturities by 10 years on major parts of Greece's total debt obligations while the country secured a 15 billion euros ($17.5 billion) loan for a smooth bailout exit in August.

Stress test show Greek banks could enter new crisis

Greece's four largest banks, Alpha Bank, Eurobank, the Greek National Bank and Piraeus Bank were stress tested four months before the country exits its bailout programme.

Merkel and Macron discuss EU reform

Merkel and Macron's meeting gave them a last chance to discuss Europe's stance on the crisis in Syria and the fate of the nuclear deal with Iran before both leaders fly to Washington next week for separate talks with US President Donald Trump.