Europe Government

  • 2016-06-29 09:39


    BRUSSELS (MNI) - The following statement was released on Wednesday after the conclusion of the informal meeting in Brussels of 27 EU member countries:

    1. We, the Heads of State or Government of 27 Member States, as well as the Presidents of the European Council and the European Commission, deeply regret the outcome of the referendum in the UK but we respect the will expressed by a majority of the British people. Until the UK leaves the EU, EU law continues to apply to and within the UK, both when it comes to rights and obligations.

    2. There is a need to organise the withdrawal of the UK from the EU in an orderly fashion. Article 50 TEU provides the legal basis for this process.

  • 2016-06-28 18:39


    By Angelika Papamiltiadou

    BRUSSELS (MNI) - European Council President Donald Tusk said Tuesday that the new Prime Minister of Britain will have to invoke Article 50 and while the EU leaders understand that time is needed for reflection "the message was very clear that the British government specify its intentions as soon as possible."

    While Tusk, responding to a question on whether the EU could wait until October, said that there should be no speculation about the actual timing, European Commission President Jean-Claude Juncker maintained his tough stance.

  • 2016-06-28 05:47


    By Steven Arons

    FRANKFURT (MNI) - Germany's Chancellor Angela Merkel vowed Tuesday that there would not be any kind of negotiations with the UK government until it had submitted its formal application to withdraw from the European Union under Article 50 of the EU treaty.

    Speaking to the German Bundestag ahead of the EU Council meeting in Brussels later Tuesday, Merkel also urged the EU member states to display unity to prevent a further erosion of the European Union.

    "We note that the UK is not yet willing to make a notification under Article 50 and the UK must note that there cannot be any kind of negotiations or pre-negotiations for as long as the application under Article 50 has not been filed," the chancellor said.

    The comments are in line with Merkel's remarks

  • 2016-06-28 02:45


    By Jack Duffy

    PARIS (MNI) - France's housing starts and building permits fell in the three months through May, while longer-term trends continued to point to increased construction activity this year.

    Starts declined by 4.5% in the May-March period compared with the previous three months, while permits fell by 1.1%, the Ministry for Housing and Development said Tuesday.

    For the 12 months through May, builders broke ground on 355,600 new homes, up 5.2% compared the previous 12 months, while building permits amounted to 402,900, a 9.9% increase, the ministry said.

    After a multi-year slump, France's construction industry has been recovering, with record low interest rates spurring increased sales of new homes.

  • 2016-06-27 13:50


    By Steven Arons

    FRANKFURT (MNI) - The political leaders of the euro area's three most populous states said Monday that the markets' reactions to the British vote to leave the European Union had been worrisome, declaring the next days crucial in restoring trust.

    Speaking at a joint conference in Berlin, German Chancellor Angela Merkel, French President Francois Hollande and Italian Prime Minister Matteo Renzi presented a joint proposal aimed at reinforcing coordination at the EU level in several policy areas in order to demonstrate the EU's continued to act, to be presented to the other EU leaders at the European Council in Brussels on Tuesday and Wednesday.

    Merkel had met with EU Council President Donald Tusk before she met Hollande and Renzi.

  • 2016-06-27 10:16


    By Steven Arons

    FRANKFURT (MNI) - The leading business associations of Germany and France Monday issued a joint declaration on Brexit urging EU governments to react to the referendum outcome by furthering integration in certain key areas while exercising "restraint" in others.

    "The German-French engine of European integration is more in demand than ever," the press release co-signed by the heads of Germany's BDI and BDA and France's Medef read.

  • 2016-06-27 09:23


    --Updating 8:54 ET Story; Additional Quotes
    --Strong Dollar Remains in US Interest
    --Unilateral Intervention Would be 'Destabilizing'
    --In 'Particularly Volatile Moment Right Now'

    WASHINGTON (MNI) - Apparently aiming to head off any intention by Japan to justify intervention in the foreign exchange market because of the roiled markets in the wake of Brexit, U.S. Treasury Secretary Jack Lew Monday said markets are still coping in an orderly manner.

    Interviewed on CNBC amid some aftershocks in global currency and stock markets - and with major declines in some UK bank stocks - Lew counseled calm, saying the U.S.

  • 2016-06-27 08:54


    --Strong Dollar Remains in US Interest
    --Unilateral Intervention Would be 'Destabilizing'
    --In 'Particularly Volatile Moment Right Now'

    WASHINGTON (MNI) - Apparently aiming to head off any intention by Japan to justify intervention in the foreign exchange market because of the roiled markets in the wake of Brexit, U.S. Treasury Secretary Jack Lew Monday said markets are still coping in an orderly manner.

    Interviewed on CNBC amid some aftershocks in global currency and stock markets - and with major declines in some UK bank stocks - Lew counseled calm, saying the U.S.

  • 2016-06-26 16:21


    --Adds details on election results in Spain

    PARIS (MNI) - France and other EU member states stepped up the pressure on Britain for a quick EU exit over the weekend, while Germany urged caution and top financial officials warned that the City of London would lose its status as Europe's financial capital if a new post-Brexit trading accord was not reached.

    In a flurry of diplomatic activity following last week's UK vote to leave the EU, member states appeared to coalesce around France's intention to push for a quick, clean separation to prevent economic uncertainty from weighing down the Continent's modest recovery.

    "It's in Britain's interest and in the interest of Europeans not to have a period of uncertainty that would have financial consequences," French

  • 2016-06-26 16:13


    Cautious

    PARIS (MNI) - France and other EU member states stepped up the pressure on Britain for a quick EU exit over the weekend, while Germany urged caution and top financial officials warned that the City of London would lose its status as Europe's financial capital if a new post-Brexit trading accord was not reached.

    In a flurry of diplomatic activity following last week's UK vote to leave the EU, member states appeared to coalesce around France's intention to push for a quick, clean separation to prevent economic uncertainty from weighing down the Continent's modest recovery.

    "It's in Britain's interest and in the interest of Europeans not to have a period of uncertainty that would have financial consequences," French Foreign Minister Jean-Marc Ayrault