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Plenary Session: Troika helped to avoid the worst, but flawed structure harmed recovery
The EU/ECB/IMF Troika helped four EU countries through the crisis and prevented it from getting worse. But its flawed structure and working methods hindered national "ownership" and compromised transparency and accountability, says a resolution on the EP inquiry findings. (Includes speeches/EP group comments.)
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ECFIN Economic Paper: Growth effects of structural reforms in Southern Europe - The case of Greece, Italy, Spain and Portugal
The results of this paper show that structural reforms yield significant economic gains in the medium and long run. However, the short-run gains are unlikely to be large.
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Eurogroup statement on Cyprus
The outlook remains challenging and maintaining fiscal discipline remains necessary. At the same time, efforts to create the conditions for sustainable growth need to be intensified. Subject to approval, the ESM is scheduled to disburse €150 million by the beginning of April.
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Bruegel/De Sousa: A year since Cyprus - So far, so good, but still too early to conclude the Cyprus programme will be successful
A year ago, EU and Cypriot officials were in tense negotiations trying to find the right balance between bailing-in and bailing-out Cyprus. Now, the likelihood of Cyprus turning out to be a second Ireland is greater than that of it turning into a second Greece or even Portugal, says De Sousa.
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Sixth Activity Report of the Task Force for Greece: Stepping up implementation
The sixth activity report covers the period from October 2013 to January 2014 – a period in which important policy reforms have tangibly benefited from well-targeted and resourced technical assistance. Meanwhile, Fitch Ratings says that Greek bank recap is manageable but senior bail-in is unlikely.
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Eurogroup urges Greece and Troika to conclude review this week
Eurogroup chief Dijsselbloem stressed the need for Greece and the Troika to conclude the review, which has dragged on for more than 170 days. "It is important for us, and especially for Greece, that the Troika and the Greek government arrive at an agreement very soon", he said prior to the meeting.
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BoG: 2013 Stress test of the Greek banking sector - Top banks need €6.4 billion in extra capital
Greece's major banks must raise an extra €6.4 billion in capital to make themselves strong enough to deal with the fallout from future crises, the central bank said.
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BBC: Matteo Renzi proposes big tax cuts and electoral reform
Italy's new Prime Minister Matteo Renzi has proposed a sweeping package of tax cuts, in a bid to revive the country's economy. In his first full news conference, he insisted the package would not breach EU budget deficit limits.
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Germany acknowledges current account surplus as problem
The German Economics Ministry has published a document in response to the Commission's economic imbalances analysis. The document recognises that "excessive and prolonged imbalances" in the trade balances of certain European countries has been "detrimental to the stability of the eurozone".
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Robert Schuman Foundation/Sarkozy: The Franco-German friendship is vital for Europe
The former French president called for 'more integration for the Europe of the euro, less integration for the European Union'. "This is a paradoxical choice we have to make", he said.
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George Soros: It is time to stand up for the European Union
Right now the UK has the best of all possible worlds. Any change would be for the worst, writes George Soros for the FT.
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FT: Austria warns costs of bank bailout rising
Austria's central bank governor has warned that attempts to wind down regional lender Hypo Alpe-Adria could cost a further €3.6 billion this year, potentially pushing the national budget deficit above the key 3 per cent limit.
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