BRUSSELS (Reuters) - Jean-Claude Trichet scotched speculation on Thursday that the European Central Bank may delay interest rate rises because of BERLIN (Reuters) - German political leaders clashed with the head of the country's largest bank on Wednesday over regulation of the financial sector and the role Greece's private creditors are being asked to play in a new aid package.

Europe worried about Spain not Ireland: Irish finance minister

2011-06-26T07:00:07Z

DUBLIN (Reuters) - Europe is more concerned about the fallout on Spain and other large euro zone economies from the Greek financial crisis than on

Pimco head says EU must change course on Greek aid

2011-06-19T03:00:05Z

ROME (Reuters) - Europe risks wasting more money for nothing if it keeps pumping billions into the ailing Greek economy, the head of Pimco, the world's largest bond fund, said in an interview published on Sunday.

"After a year, every indicator has unfortunately worsened, despite the incredible quantity of financial assistance," <...

Indonesia backs Lagarde as IMF candidates seek support

2011-06-12T09:30:50Z

JAKARTA (Reuters) - G20 member Indonesia threw its backing behind France's Christine Lagarde for the head of the IMF on Sunday, marking her first public en...

Eurogroup chief Juncker backs 'soft' Greek debt restructure

2011-06-11T18:30:06Z

Eurogroup head Jean-Claude Juncker on Saturday backed Germany's proposal of a "soft restructuring" of Greece's debt with a voluntary contribution from private-sector creditors.

"There will be no total restructuring," he told a German radio station. "The governments are agreed on that, ECB support for such an option could not...

Eurogroup chief backs 'soft' Greek debt restructure

2011-06-11T12:30:07Z

Eurogroup head Jean-Claude Juncker on Saturday backed Germany's proposal of a "soft restructuring" of Greece's debt with a voluntary contribution from private-sector creditors.

"There will be no total restructuring," he told a German radio station. "The governments are agreed on that, ECB support for such an option could not...

Portugal's election winner set on fast-track to austerity

2011-06-06T18:30:33Z

Portuguese election victor Pedro Passos Coelho received orders Monday to move quickly to form a new government as pressure mounted on Lisbon to enact reforms demanded by the EU and IMF in exchange for a massive bailout.

...

Portugal swings right in election after bailout

2011-06-05T19:30:23Z

Portugal's Social Democrats ousted the ruling Socialists in an early general election, paving the way for a new centre-right coalition government to implement the country's 78 billion euro bailout programme.

The party won 105 seats in the 230-seat assembly against 73 for outgoing Prime Minister Jose Socrates' Socialists, the interior ministry said after only the r...

Obama praises Germany ahead of Merkel visit

2011-06-05T16:00:17Z

WASHINGTON (Reuters) - U.S. President Barack Obama praised Germany's environment policies and success at taming unemployment in an interview released on Sunday ahead of Chancellor Angela Merkel's visit to Washingto...

Portugal vote winner to face daunting job under bailout

2011-06-04T04:30:13Z

LISBON (Reuters) - Portugal's Social Democrats are favorites to win a general election on Sunday, but celebrations could be short as they face the urgent task of forming a coalition government to enact a demanding bailout plan.

Polls suggest the center-right Social Democrats (PSD) will win the vote bu...

New Portugal govt faces rush to start reforms

2011-06-02T10:30:37Z

Whatever the outcome of Sunday's general election in Portugal, the new government will face a race against the clock to put in place the demanding programme of reforms agreed with the EU and IMF in exchange for a 78-billion-euro bailout.

"The country faces three big challenges: first apply t...

Taxation without compassion

2011-06-02T02:30:37Z

President Barack Obama trusts America's generous and compassionate nature, that our rugged individualism is tempered by a belief that we're all connected. In his speech on budget reform on April 13, he celebrated "our belief that those who benefited most from our way of life can afford to give back a little bit more."The president's faith in Americans' sense of common purpose is uplifting. But it does not fit the histor...

78-billion-euro EU-IMF Portugal bailout sealed

2011-05-16T15:30:19Z

European finance ministers on Monday backed a three-year 78-billion-euro EU-IMF bailout for Portugal on condition Lisbon embarks on a major raft of public sell-offs.

The ministers agreed unanimously to rescue Portugal, a statement said, making it the third eurozone count...

Finland approves Portuguese bailout: lawmakers

2011-05-13T14:30:18Z

Finland officially approved a financial rescue package to Portugal on Friday, lawmakers said, removing a main obstacle to the European Union's approval but attached conditions to the bailout.

"We support the government's line ... including participation in a support package for Portugal and participation in the temporary and perma...

S&P says Portugal bailout credible but risks remain

2011-05-11T15:30:38Z

Standard and Poor's rating agency said Wednesday that Portugal's 78-billion-euro ($111 billion) EU-IMF bailout programme is credible but warned there are considerable implementation risks.

S&P said that the programme of measures agreed to unlock the bailout loans is consistent with its current BBB- rating...

Portugal faces slump, opposition seen backing bailout

2011-05-04T10:31:01Z

LISBON (Reuters) - Portugal's main opposition party signaled after meeting European and IMF officials Wednesday it was likely to back a 78-billion-euro bailout that is expected to consign the economy to two years of recession.

Caretaker Prime...

EU, IMF say Portugal bailout deal close

2011-05-03T11:30:18Z

LISBON (Reuters) - Portugal is close to reaching an agreement with the European Union and IMF on a bailout for the debt-laden country and there are no disagreements between the donors, the LISBON (Reuters) - Greece insisted on Tuesday any restructuring of its debts would be a disaster for the economy, but financial markets continue to view it as likely and are betting that the euro zone debt crisis will worsen.

In <...

Portugal bailout plan needed before May 16: PM

2011-04-28T12:30:23Z

A bailout plan for Portugal should be drafted by mid-May to present to eurozone finance ministers, with negotiations to be quick but discreet, outgoing Prime Minister Jose Socrates said on Thursday.

Officials from the "troika" of the European Central Ban...

Greek woes, aid backlash counter solid Spain auction

2011-04-20T06:00:35Z

MADRID/LISBON (Reuters) - Spain attracted solid demand at a bond sale on Wednesday, easing concerns it could be swept up by the contagion hitting other euro zone states, but worries about Greek ...

Euro zone crisis escalates on Greek debt fears

2011-04-18T12:32:13Z

BERLIN/ATHENS (Reuters) - Rising expectations that Greece will have to restructure its mountain of debt, possibly as early as this summer, sent the euro and the bonds of weak euro zone members tumbling on Monday in a dramatic esc...

Portugal prime minister slams opposition

2011-04-18T12:02:02Z

LISBON (Reuters) - Portugal's caretaker Prime Minister Jose Socrates criticized the main opposition party on Sunday, showing pre-election jostling may complicate a tough new phase of bailout talks that start on Monday.

Representati...

Euro zone hit by Greek restructuring worry

2011-04-14T07:00:11Z

LISBON (Reuters) - Greece faced a new surge in its debt costs Thursday after Germany said for the first time that Athens may need to restructure its debt, a move one central banker warned would be a "catastrophe."

Growing...

Most Germans in favour of Portugal aid: poll

2011-04-10T07:30:07Z

A narrow majority of Germans is in favour of the EU's multi-billion-euro bailout package for crisis-hit Portugal, a poll suggested on Sunday, with 90 percent believing it would not be the last.

The Emnid poll for the Bild am Sonntag weekly showed 50 percent agreed with the European Union's decision to ...

Accounting chief wants higher bank capital ratios

2011-04-10T06:30:13Z

AMSTERDAM (Reuters) - New bank capital rules should be about 30 percent higher than agreed, to prevent a repeat of the last financial crisis, the incoming head of the world's biggest accounting standard setter said on Sunday.

The Basel III bank capital rules will force banks to more than triple the amount of top quality capital they must hold...

Spain confident its banks will pass stress tests

2011-04-09T09:30:09Z

Spain will submit all its banks and savings banks to stress tests at a European-recognised level, its finance minister said on Saturday, expressing confidence of a positive result.

"We have decided to analyse 100 percent of our system of savings banks and banks," Elena Salgado told journalists on arrival for the second day of a European finance ministers' meeting in Godo...

Spain says banks healthy while Berlin warns its laggards

2011-04-09T08:00:04Z

GODOLLO, Hungary (Reuters) - Spain's finance minister said on Saturday that the results of stress tests on Spanish banks would reassure investors, contrasting with Germany which said any failing lenders would get no help from

Portugal finance ministry says aid from EU needed

2011-04-06T11:00:28Z

LISBON (Reuters) - Portugal needs to resort to financial aid from the European Union, the finance ministry said, confirming an earlier report by Jornal de Negocios bus...

Irish and Greek debts sustainable: EU rescue fund chief

2011-04-02T05:00:08Z

DUBLIN (Reuters) - European authorities and the International Monetary Fund believe Ireland and Greece can sustain their ...

EU leaders wait on Portugal, markets bet on bailout

2011-03-26T04:32:47Z

European leaders faced an anxious wait Friday as the markets bet that struggling Portugal will need a debt bailout despite Lisbon's protests it can avoid one in the run-up to tense elections.

After last year's massive bailouts for Greece and then Ireland, Portugal slipped towa...

Regulators looking at ways to cap big banks: source

2011-03-25T06:30:13Z

LONDON (Reuters) - Global banking regulators are discussing how to use extra capital cushions as a means of stopping very big lenders getting even larger, a source familiar with the talks said on Friday.

World leaders have asked the Basel Committee on Banking Supervision t...

EU leaders set to delay decision on bailout fund

2011-03-23T16:00:13Z

BRUSSELS (Reuters) - European Union leaders are unlikely to take a decision on how to strengthen the euro zone's bailout fund until June, undermining market confidence and possibly prolonging the region's debt crisis.

For m...

EU package unlikely to prevent Portugal bailout

2011-03-23T07:00:11Z

LONDON (Reuters) - A deal to boost the euro zone's rescue fund, no matter when it comes, will not save Portugal from financial market pressure to seek a bailout and might only buy time for Spain as it tries to avoid becoming the next ...

S&P warns of Portugal downgrade over euro bailout fund

2011-03-02T15:30:25Z

Standard & Poor's ratings agency said on Wednesday that the likely conditions attached to Europe's new bailout fund could force it to reduce its credit rating for Portugal by up to two notches.

S&P said it believed Portugal's government had made progress in its efforts to bring the eurozone country's public finances back ...

German MPs to vote on debt crisis motion in mid-March

2011-02-25T05:30:09Z

BERLIN (Reuters) - Germany's parliament will vote in mid-March on a motion opposing most of potential solutions to Europe's debt crisis, possibly tying Chancell...

Indicators in interest of emerging markets: Geithner

2011-02-18T15:30:37Z

Using measures of economic imbalances such as exchange rate policy are in the interest of emerging economies as they help ensure financial stability and growth, US Treasury Secretary Timothy Geithner said Friday.

"There is a very strong incentive you see across the emerging economies to make sure we have better norms about how you think about exchange rate policy, a framework for how you reduce the risk of the re-emerg...

Osborne 'mulls new tax on wealthy non-doms'

2011-02-06T08:30:24Z

The government is considering introducing a new levy on wealthy non-domiciles as it seeks fresh sources of revenue to help reduce the budget deficit, a newspaper reported Sunday.

The measures would affect about 120,000 people who claim a foreign connection so they do not have pay tax in Britain on their overseas earnings and assets, according to the Sunday Times.

Chancellor of the Exchequer

Govt. mulls new tax on non-doms: report

2011-02-05T17:30:35Z

Britain is considering introducing a new levy on wealthy non-doms as it seeks fresh sources of revenue to help reduce the budget deficit, a newspaper reported Sunday.

The measures would affect about 120,000 people who claim a foreign connection so they do not have pay tax in Britain on their overseas earnings and assets, according to the Sunday Times.

Chancellor of the Exchequer Britain is considering introducing a new levy on wealthy non-domiciles as it seeks fresh sources of revenue to help reduce the budget deficit, a newspaper reported Sunday.

The measures would affect about 120,000 people who claim a foreign connection so they do not have pay tax in Britain on their overseas earnings and assets, according to the Sunday Times.

Chancellor of the Exchequer

Bank lobby group IIF slams capital top-up plans

2011-01-24T11:00:20Z

PARIS/LONDON (Reuters) - Plans to saddle large banks with extra safeguards would make the financial system more unstable and could increase the number of "too big to fail" institutions, a leading bank lobby group warned on Monday.

"Imposing simple capital surcharges is not the right way to strengthen systemic stability," said Frederic Oudea

Spanish savings banks 'oppose new shake-up plan'

2011-01-22T11:30:12Z

Spain's troubled regional savings banks, a major cause of concern over public finances, are opposed to a new shake-up announced by the government, press reports said Saturday.

Deputy Prime Minister Alfredo Perez Rubalcaba said Friday that the government was preparing a plan designed "to increase the solvency and the credibility of the savings banks."

The pla...

EFSF could use different interest rates: Bruederle

2011-01-22T08:00:06Z

BERLIN (Reuters) - The European rescue fund could use different interest rates in the debt it raises to help boost its effective lending capacity without having to increase the headline sum, German Economy Minister Rainer Bruederle said.

"One could for in...

Spain readies new plan to help troubled savings banks

2011-01-21T14:30:18Z

Spain said Friday it is drawing up a new plan to restructure regional savings banks, the weak link in its banking system and a major cause of concern over public finances amid the ongoing eurozone debt crisis.

"The government is preparing a plan the aim of which is to increase the solvency and the credibility of the savings banks," Deputy Prime Minister Alfredo Perez Rubalcaba told a news co...

Spain plans partial nationalization of savings banks

2011-01-21T02:00:09Z

MADRID (Reuters) - Spain plans a partial state takeover of its weakest savings banks as it seeks to reassure investors a rescue will not weigh on its deficit, sources and reports said on Friday.

A source familiar with the matter told Reuters the government will force debt-laden savings banks to become conve...

Spain readying fresh bank funding plan: government sources

2011-01-20T05:00:21Z

MADRID (Reuters) - Spain's government is finalizing plans to raise fresh funds for its troubled savings banks, officials said, as its efforts to force the country's regional administrations to cut spending began to bear fruit.

Madrid is hoping the regionally-based banks can raise the additional capital -- w...

France says euro fund boost 'premature'

2011-01-14T13:30:22Z

European Union efforts to boost rescue funds for vulnerable eurozone countries are "premature," France's Finance Minister Christine Lagarde said on Friday.

"If we had to increase the European stability fund a figure would have to be calculated (but) ... it is premat...

Europe warns of pain for Allied Irish creditors

2010-12-21T12:00:43Z

DUBLIN (Reuters) - Allied Irish Banks' junior bondholders will have to take a big hit in a future restructuring, the European Commission warned on Tuesday ...

EU to change treaty for new euro rescue plan

2010-12-17T01:01:04Z

EU leaders agree to change treaty to protect euro but refuse to boost current bailout fund

European Union leaders are changing the treaty that underpins the bloc to make room for a huge new rescue system for countries that get into debt trouble in the long term. But they aren't ready to beef up the bailout fund they have in place today.

That resistance to bold, fast moves now — led by

Europe throws euro fresh lifeline

2010-12-16T19:30:35Z

European leaders signalled a willingness to grant troubled nations a fresh financial lifeline, ring-fencing the euro in a bid to fend off market vultures once and for all.

With Portugal and even Spain predicted to need aid like Greece and Ireland, ...

Disagreement over EU debt crisis measures deepens

2010-12-15T09:00:40Z

No shock-and-awe measures to contain financial crisis expected as EU leaders meet in Brussels

Disagreement over how to fight Europe's debt crisis deepened Wednesday, on the eve of a two-day summit of European leaders, as violent protests and uncertainty fueled investors' concerns once again.

Amid...

Economy minister says Spain will not seek financial aid: report

2010-12-05T13:30:31Z

PARIS (Reuters) - Spain's economic fundamentals are sound and the country will not appeal for financial support from the international aid mechanism, Spanish Economy Minister Elena Salgado said in an interview published on Sunday.

Spain announced a range of deficit cutting measure...

Oil settles above $85 a barrel

2010-11-29T14:30:33Z

Oil settles above $85 a barrel

Oil prices rose after the European Union agreed on a bailout plan for Ireland, although some concern remained that a financial crisis could surface in Portugal and Spain. Traders also monit...

Time Out finds a saviour from princely contact

2010-11-29T15:00:41Z

...

Recessions Are on the Margin

2010-11-29T14:50:11Z

...

EU ministers prepare to seal Irish aid plan

2010-11-27T13:30:25Z

EU finance ministers will meet in Brussels on Sunday to wrap up an aid plan for debt-ravaged Ireland before markets reopen, a French source said as tens of thousands protested planned austerity measures in Dublin.

The source familiar with the issue said French <...

With year-end tax planning, no easy answers

2010-11-29T14:45:36Z

...

Portugal poised to approve austerity plan

2010-11-29T14:41:39Z

...

A 20-Year View of the Debt Due From Ireland, Portugal and Spain

2010-11-29T14:50:06Z

...

Ireland hoists "For Sale" sign over stricken banks

2010-11-23T06:30:36Z

DUBLIN (Reuters) - Ireland's banks are up for sale, the country's central bank chief said, as the government seeks to cut them down in size after their reckless lending forced the country to seek an international bailout.

"They are for sale as far as I am concerned," Patrick Ho...

Portugal gives no hint about following Ireland

2010-11-29T14:41:05Z

...

European Sovereign Debt Spells Messy 2011: Some Option Choices

2010-11-29T14:49:52Z

...

European Sovereign Debt Spells Messy 2011

2010-11-29T14:49:51Z

...

Debt-Laden Ireland Still Resists Bailout, Unnerving Markets

2010-11-29T14:45:03Z

...

DIARY

2010-11-29T14:58:51Z

...

Hedge fund curbs finally endorsed by EU parliament

2010-11-11T06:31:00Z

Meeting in plenary session, the parliament adopted the new legislation by a wide majority of 513 for, with 92 against and three abstentions.

The new European Union rules for hedge funds and private equity are "a new step taken in the reform of the financial system," said conservative French MEP and rapporteur Jean-Paul Gauzes.

They "will bring more light to the black hole of finance," said

Why are UK tax policies based on political self-preservation rather than the public good?

2010-11-29T15:41:07Z

...

What are the implications of government ownership of troubled banks?

2010-11-29T15:41:29Z

...

Can the United States Learn From Germany?

2010-11-08T03:53:33Z

...

How to claim council tax benefits, UK

2010-11-04T14:26:18Z

...

Issues surrounding offshore banking

2010-11-04T13:41:15Z

...

Cameron targets growth and jobs, after brutal cuts

2010-10-25T09:31:09Z

"There is one question I want to answer today: Where is the growth going to come from -- and where are the jobs going to come from," Cameron said at the annual conference of the Confederation of British Industry (CBI).

"Over the course of this parliament -- and the next -- I believe we can transform our fortunes," he told the country's biggest employers' body, which is a p...

Is Your Money Safe In A High Street Bank?

2010-11-03T03:31:13Z

...

G20 Update

2010-11-03T03:11:24Z

...

Where's My I.R.A.?

2010-11-02T23:12:13Z

...

Green Jobs Will Produce No Green For The American Worker.

2010-11-03T00:02:20Z

...

Britain Tuition Tangle

2011-01-04T08:04:09Z

FILE - This is a Thursday, Dec. 9, 2010 file photo of Britain's Prince Charles and Camilla, Duchess of Cornwall, as they react as their car is attacked by angry protesters in London. British police released a video Tuesday Jan. 4, 2011 of ...

Germany Partial Solar Eclipse

2011-01-05T08:02:05Z

A partial solar eclipse is pictured through clouds in Albershausen, southwestern Germany, on Tuesday, Jan. 4, 2011. (AP Photo/dapd, Daniel Kopatsch)

...

Australia Flooding

2011-01-05T08:06:21Z

In this photo released by the Northern Territory Police, four German tourists rest on the roof of their vehicle as they wait for their rescue from the flooded Magela Creek, near Jabiru, Australia, Monday, Jan. 3, 2011. Drenching rain that started before Christmas has flooded an area the size of France and Real Madrid's Kaka from Brazil runs with the ball during a Spanish La Liga soccer match against Getafe at the Coliseum Alfonso Perez stadium in Getafe, Spain Monday, Jan. 3, 2011. Memphis Grizzlies center Marc Gasol, right, of Spain and his brother Los Angeles Lakers forward Pau Gasol of Spain tangles under the basket during the first half of their

News on Western Europe

Exclusive: Commerzbank in state aid talks

EU bank capital hole deepens to 115 billion euros

Franco-German agreement on euro fund: Berlin

Germany mulls raising EU bailout fund: paper

EU provisionally OKs Dexia Bank Belgium nationalisation

Greek write-down marks end of austerity charge

Under-pressure Europe postpones key debt summit

Europe battles to save banks as Dexia rescued

Europe eyes bolstering banks ahead of debt storm

Germany 'won't give more to EU bail-out fund'

Europe 'scaring world' over Greece failures: Obama

Premature euro rescue talk buoys markets

Europe 'scaring' Obama as global recession lurks

France seen moving towards bank bailout

Portugal meeting bailout targets: IMF

Greek deal won't mean austerity for France: finance minister

EU bank stress tests spotlight eurozone debt crisis

Ageing population risks worsening debt burden

EU's Van Rompuy calls emergency debt crisis talks

Top German court hears complaints against EU bailouts

Trichet flags ECB rate rise with "strong vigilance"

Europe worried about Spain not Ireland: Irish finance minister

Pimco head says EU must change course on Greek aid

Indonesia backs Lagarde as IMF candidates seek support

Eurogroup chief Juncker backs 'soft' Greek debt restructure

Eurogroup chief backs 'soft' Greek debt restructure

Portugal's election winner set on fast-track to austerity

Portugal swings right in election after bailout

Obama praises Germany ahead of Merkel visit

Portugal vote winner to face daunting job under bailout

New Portugal govt faces rush to start reforms

Taxation without compassion

78-billion-euro EU-IMF Portugal bailout sealed

Finland approves Portuguese bailout: lawmakers

S&P says Portugal bailout credible but risks remain

Portugal faces slump, opposition seen backing bailout

EU, IMF say Portugal bailout deal close

Portugal bailout plan needed before May 16: PM

Greek woes, aid backlash counter solid Spain auction

Euro zone crisis escalates on Greek debt fears

Portugal prime minister slams opposition

Euro zone hit by Greek restructuring worry

Most Germans in favour of Portugal aid: poll

Accounting chief wants higher bank capital ratios

Spain confident its banks will pass stress tests

Spain says banks healthy while Berlin warns its laggards

Portugal finance ministry says aid from EU needed

Irish and Greek debts sustainable: EU rescue fund chief

EU leaders wait on Portugal, markets bet on bailout

Regulators looking at ways to cap big banks: source

EU leaders set to delay decision on bailout fund

EU package unlikely to prevent Portugal bailout

S&P warns of Portugal downgrade over euro bailout fund

German MPs to vote on debt crisis motion in mid-March

Indicators in interest of emerging markets: Geithner

Osborne 'mulls new tax on wealthy non-doms'

Govt. mulls new tax on non-doms: report

Bank lobby group IIF slams capital top-up plans

Spanish savings banks 'oppose new shake-up plan'

EFSF could use different interest rates: Bruederle

Spain readies new plan to help troubled savings banks

Spain plans partial nationalization of savings banks

Spain readying fresh bank funding plan: government sources

France says euro fund boost 'premature'

Europe warns of pain for Allied Irish creditors

EU to change treaty for new euro rescue plan

Europe throws euro fresh lifeline

Disagreement over EU debt crisis measures deepens

Economy minister says Spain will not seek financial aid: report

Oil settles above $85 a barrel

Time Out finds a saviour from princely contact

Recessions Are on the Margin

EU ministers prepare to seal Irish aid plan

With year-end tax planning, no easy answers

Portugal poised to approve austerity plan

A 20-Year View of the Debt Due From Ireland, Portugal and Spain

Ireland hoists "For Sale" sign over stricken banks

Portugal gives no hint about following Ireland

European Sovereign Debt Spells Messy 2011: Some Option Choices