Europe Government

  • 2015-04-24 08:35


    By Martin Baccardax

    LONDON (MNI) - European investors will look to two significant indications of the impact of the European Central Bank's quantitative easing programme is having on the real economy this week as the region's recovery shows signs of a modest slowdown in the second quarter.

    Flash April HICP figures from Eurostat Thursday (11:00 CET) may offer a hint as to the power of the Bank's asset purchase programme in not only lifting inflation expectations but also in influencing consumer price developments around the Eurozone.

  • 2015-04-23 07:42


    By Johanna Treeck

    BERLIN (MNI) - European Commission Vice President Valdis Dombrovskis said Thursday that the return of financial tensions in Greece may rob the country off economic growth this year.

    "Unfortunately there is increasing doubts about the situation in Greece and it may be that with the return of financial instabilities they will not be able to have economic growth this year," Dombrovskis said in Berlin. "This remains to be seen."

    In it's winter economic forecasts, the European Commission still projected Greece's economy to grow by 2.5% this year.

  • 2015-04-20 07:33


    --Sentiment Indicators To Provide Test of Assumptions

    FRANKFURT (MNI) - MNI median forecasts

    MNI median Expected Previous Previous f'cast change reading change Due out

    --------------------------------------------------------------------------------

    Tue, 1100 ZEW expctns 56.0 +1.2 54.8 +3.0 CET Flash mfg Thu, 0930 PMI 53.0 +0.2 52.8 +1.9 CET Ifo biz Fri, 1000 climate 108.3 +0.4

  • 2015-04-20 02:57


    By Jack Duffy

    PARIS (MNI) - EU Economic and Monetary Affairs Commissioner Pierre Moscovici said Monday that Greece had "no time to lose" to produce a serious program of economic reforms.

    "There is a sense of urgency," Moscovici said in an interview on iTele television. "I am asking the Greek government to do what is necessary. There is no time to lose."

    Moscovici said he continued to hope Greece will remain in the Eurozone. "I wish it absolutely. I wish it for Greece and I wish it for Europe."

    But for this to happen, the Greek government must "put on the table a reform program that is ambitious and credible," Moscovici said.

    --MNI Paris Bureau; tel: +33 1-42-71-55-41; email: jduffy@mni-news.com

    [TOPICS: M$X$$$,M$Y$$$,MFX$$$,MGX$$$]

  • 2015-04-18 16:05


    By Henriette Vogt

    WASHINGTON (MNI) - German Finance Minister Wolfgang Schaeuble said Saturday he has not felt any pressure from U.S. officials to ease up on demands on Greece and that all institutions including the U.S. government agree on the need to finalize a deal as soon as possible.

    "We all agree on what has been discussed in the reform package of February 20," Schaeuble said during a press conference at the IMF Spring meeting. "As far as I am aware, the President (Barack Obama) is very approving of the Germans approach."

    Schaeuble also said that everyone was loosing patience with the speed at which talks with Greece was advancing.

    "The Greek government needs to be clearly aware of what they want to achieve. Only then can we come to an agreement," he said.

  • 2015-04-18 08:44


    By Henriette Vogt

    WASHINGTON (MNI) - European Central Bank Governing Council member Ewald Nowotny said Friday Greek officials are not aware of the role the ECB's rules play in lending, and that has created difficulties in negotiations.

    Nowotny told reporters he is concerned the central bank's emergency lending program cannot become a long-term financing mechanism for Greek banks.

    "Due to the legal structure, the ECB isn't in the situation to substitute long-term financing, that's a political decision," Nowotny said on the sidelines of the IMF Spring meeting.

  • 2015-04-17 17:17


    --Eurogroup Chief Says With Political Will Could Clinch Deal in 2 Weeks
    --Worried if Greece Can Make IMF Payments in May

    WASHINGTON (MNI) - Eurogroup President Jeroen Dijsselbloem Friday urged Greece not to wait until mid-May when it owes money to the International Monetary Fund before coming to its creditors with a viable list of reforms that would allow for funds to be disbursed to the cash-strapped country.

    Speaking to small group of reporters on the sidelines the Spring meetings of the IMF, Dijsselbloem said if there was renewed political will from Athens a conclusion to the current impasse could be made in as little as two weeks.

    "Too little progress has been made but some progress has been made so we'll need more time.

  • 2015-04-17 14:20


    --If Greece Needs EU Funds Must Reach, Implement Deal

    WASHINGTON (MNI) - Eurogroup President Jeroen Dijsselbloem said Friday that time is ticking for a deal between the Greek government and its creditors and despite the fact that the Syriza-led government is "politically inexperienced," the Eurozone is willing to help.

    Speaking at the Peterson Institute in Washington, on the sidelines of the IMF spring meeting, Dijsselbloem stated his "intention was to keep Greece in the Eurozone."

    He admitted that while most Eurozone countries are now on the road of recovery and towards growth, Greece is one issue still dominating the Eurogroup finance ministers' meetings.

    "I won't say all of it but most of the bad part of the crisis is behind us and now

  • 2015-04-17 10:54


    By Henriette Vogt

    WASHINGTON (MNI) - Germany's Finance Minister Schaeuble said Friday that no progress is expected on talks with Greece during the weekend meeting of the International Monetary Fund Spring meeting.

    However, he plans to meet with Greece's Finance Minister Yiannis Varoufakis at the informal Ecofin meeting in Riga next week, the official told reporters on the sidelines of the IMF meeting in Washington.

    "There's no news," Schaeuble said. "And I doubt that there will be any by next week."

    Although Schaeuble and Varoufakis are attending the IMF meeting, but Schaeuble said "a meeting with the Greek finance minister is not scheduled.

  • 2015-04-17 08:35


    By Martin Baccardax

    LONDON (MNI) - European investors will navigate the next-to-last week of April in much the same way as they have for most of the year: focused on developments in Germany and Greece.

    With the region's consistent - but uneven - recovery clearly underway, investors will look to sentiment data from Germany this week to gauge the strength and pace of activity in the Eurozone's largest economy.