EU urges Greece to step up reforms to get debt relief
ATHENS, Greece (AP) — The European Union's top finance official says the Greek government can step up its reforms to qualify for a large debt relief payout in 10 days.
EU warns Italy to slash rampant public debt
BRUSSELS (AP) — The European Union expressed concern about Italy's debt levels Wednesday and warned the government in Rome to push through measures to shore up the public finances.
EU finance official says new Italian budget insufficient
MILAN (AP) — Italy's populist leaders say they back a revised budget submitted by Premier Giuseppe Conte to the EU Commission, following comments by the EU's top finance official that the changes are "insufficient."
Matteo Salvini of the League and Luigi Di Maio of the 5-Star Movement said Thursday: "We continue to support our proposal with conviction. We are people of good sense, but above all we remain faithful to what we promised citizens."
The Latest: European moderates welcome US political shift
NEW DELHI (AP) — The Latest on global reactions to U.S. midterm elections (all times local):
European moderates are welcoming a re-balancing of U.S. politics after the midterm election but few expect big change in relations with President Donald Trump.
EU Commissioner Pierre Moscovici tweeted that the Democrats took the majority in the House of Representative "despite powerful Republican gerrymandering," calling it a "tremendous success."
EU budget chief seeks to ease tensions with Italy
MILAN (AP) — The European Union's budget chief sought to ease tensions with Rome on Friday over Italy's rule-busting budget, after markets reacted by pushing up Italy's borrowing costs to the highest levels in five years.
Pierre Moscovici told reporters in Rome that he did not see a risk of contagion in the market reaction to the European Commission's stinging letter rebuking the proposed Italian budget.
The Latest: EU official tries to calm Italian budget dispute
MILAN (AP) — The Latest on Italy's spat with the European Union over its budget (all times local):
The EU's budget chief says that the European Commission won't interfere with Italy's economic policies and called for disagreements over the draft budget to be resolved in an "intelligent and serene way."
EU warns Italy on budget but walks a fine line
BRUSSELS (AP) — The European Union handed Italy a stinging letter Thursday warning that the nation's significantly higher deficit targets represented a deviation "unprecedented in the history" of EU budget rules — but still offered reassurances that the bloc was "not an adversary of Italy."
The Latest: EU voices concerns over Italy’s budget deficit
BRUSSELS (AP) — The Latest on Italy's plans to ramp up public spending (all times local):
The European Commission has chastised Italy for a spending plan that will raise its deficit to three times that which was previously agreed, calling the deviation "unprecedented in the history" of the EU's stability and growth compact.
Report: EU official says Italian budget draft unacceptable
BERLIN (AP) — The European Union's budget chief has reportedly said that the Italian government's draft budget doesn't comply with the bloc's rules.
Italy's populist government submitted the budget plan this week after disregarding pointed warnings to ease up on spending promises that have shattered previous deficit pledges.
Italy says ‘no plan B’ to spending plans despite EU alarm
ROME (AP) — Italy's deputy premier is vowing to press ahead with spending plans after the European Commission expressed "serious concern" over what it termed a "significant deviation" from previous targets.
Five-Star leader Luigi Di Maio said Saturday "there is no plan B" to plans that will increase the deficit to 2.4 percent of annual gross domestic product next year.
The Latest: EU recognizes Greeks may not see benefits yet
ATHENS, Greece (AP) — The Latest on Greece's exit from its bailout program (all times local):
Even though the European Union welcomes Monday's end of Greece bailout program as the beginning of a new era, it does recognize many Greeks will not see it as an immediate improvement.
EU Financial Affairs Commissioner Pierre Moscovici said Monday he was "conscious that all those people may not feel that their situation has yet improved much — if at all."
BRUSSELS, Greece (AP) — European Commission officials say Greece will still be subject to quarterly inspections from creditors after the bailout program ends in late August.
Greece has already committed to two more years of budget austerity policies after its third consecutive international rescue program is concluded.
But creditors on Wednesday said Greece will remain under an "enhanced surveillance framework" to ensure that it meets ambitious budget targets through 2022.
BRUSSELS (AP) — The European Union is warning Italy to rein in government debt, as political parties in Rome try to form a government that aims to increase public spending.
European Commission Vice President Valdis Dombrovskis said Wednesday that "Italy needs to continue to reduce its public debt, which is indeed second highest in the EU after Greece." Italy's debt is currently over 130 percent of GDP.
BRUSSELS (AP) — Economic growth across the European Union will remain robust this year and next, particularly when compared with Britain, which is set to leave the bloc in less than a year, the EU's executive branch said Thursday.
European creditors: Greece due to exit bailout in August
ATHENS, Greece (AP) — Greece's creditors said Friday that the country is on track to reach a final deal on June 21 on fully exiting its international bailout in August, though work remains to be done and debt inspectors will return to Athens next month for a final review.
BRUSSELS (AP) — The European Commission criticized seven member states Wednesday for "aggressive" tax policies designed to undercut others in the race to lure multinational companies, a censure that prompted a sharp rebuke from the leader of one of the countries named.
The European Union's executive branch pointed the finger at Belgium, Cyprus, Hungary, Ireland, Luxembourg, Malta and the Netherlands, arguing that they have tax policies that undermine the integrity of the European single market.
EU revises up 2018 growth forecast for eurozone
BRUSSELS (AP) — The European Commission says the recovery across 19-country eurozone is set to remain fairly buoyant this year.
In its latest forecast, the European Union's executive arm said it expects 2018 growth to be 2.3 percent, just shy of the 2.4 percent rate it is predicting for 2017 — preliminary figures last week from the EU's statistics agency showed the eurozone growing by even more in 2017, by 2.5 percent.
In 2019, the Commission is predicting 2 percent growth.
EU urged to publish commitments from suspected tax havens
BRUSSELS (AP) — The European Union's top tax official is urging member states to make public any commitments given by non-EU countries wanting to get off the bloc's blacklist of suspected tax havens.
In December, 17 countries were put on an EU blacklist accused of offering unfair tax avoidance schemes. Over 40 more were put on a "grey list" for monitoring until they fully commit to reforms.
Greece, creditors agree on new package of reforms
ATHENS (AP) — Greece's finance minister says an agreement has been reached between the heavily indebted country and its creditors on its progress in implementing reforms.
The agreement on the so-called Third Assessment of Greece's latest bailout program will allow Greece to receive fresh funds next year, after implementing workplace reforms, speeding up the settlement of bad loans, tightening up rules for family subsidies and selling off state-owned power plants.
BRUSSELS (AP) — The European Union said Thursday that the bloc's economic recovery is continuing, with steady growth expected this year and next, though it warned of uncertainty in Britain due to its departure from the bloc.
In its spring economic forecast, the European Commission said that economic growth among the countries using the euro currency would reach 1.7 percent this year and 1.8 percent in 2018. Growth in the full 28-nation EU is set to remain constant at 1.9 percent both years.
ATHENS, Greece (AP) — Three Greek cabinet officials have returned to Brussels for emergency meetings on delayed bailout negotiations, officials from Greece's government and the European Union said late Tuesday.
Greek Finance Minister Euclid Tsakalotos, deputy George Chouliarakis, and Labor Minister Effie Achtsioglou traveled to the Belgian capital to meet with representatives of bailout lenders ahead of a Friday meeting of Eurozone finance ministers in Malta.
Italy faces potential sanction from EU for rising debt
BRUSSELS (AP) — Italy's government was put on notice Wednesday that it may be sanctioned by the European Union for not getting the country's debt levels down.
In a report on Italy's debt, the executive European Commission urged Rome to take more cost-saving measures, worth up to 0.2 percent of its annual GDP. That's unlikely to go down well in the center-left government as it faces the possibility of elections this year or next.
EU financial affairs chief in Athens as bailout talks drag
ATHENS, Greece (AP) — Greeks "need to see a light at the end of the austerity tunnel," the European Union's financial affairs chief said Wednesday during a visit to discuss the bailout-dependent country's slow-moving negotiations with its international creditors.
EU forecasts British economic slowdown during Brexit talks
BRUSSELS (AP) — The European Union expects Britain's economy to slow down as the country negotiates its exit over the next couple of years, but forecasts an improvement for the bloc as a whole despite a range of uncertainties.
In its Winter Economic Forecast released Monday, the 28-nation EU said it predicts British economic growth will slump to 1.5 percent this year and 1.2 percent in 2018 from a recent high of 3.1 percent registered in 2014.
Senior EU official praises Portugal’s economic improvement
LISBON, Portugal (AP) — The European Union's top economy official says there's mounting evidence to show that Portugal is leaving behind its recent economic crisis.
Pierre Moscovici, the European commissioner for economic and financial affairs, notes that Portugal's economic growth was the strongest in the 19-country eurozone in the third quarter, at a quarterly 0.8 percent compared with 0.3 percent for the currency bloc as a whole.
Top EU official expresses unease over Trump election win
WASHINGTON (AP) — A top European Union official is expressing unease over the election of Donald Trump.
Pierre Moscovici, European commissioner for economic and financial affairs, said in a speech at Harvard University on Monday that Trump's win last week demonstrated the decline of democratic values and the rise of populism both in the United States and in Europe.
ATHENS, Greece (AP) — The European Union's top finance officials says that bailout talks with Greece are aimed at achieving a debt relief deal and a return to full program participation by the International Monetary Fund by Christmas.
Economic Affairs Commissioner Pierre Moscovici visited Athens on Monday before a tough bailout review due in the fall, with Greece preparing to deal with a huge level of non-performing loans and international pressure to slash protective...
BRUSSELS (AP) — The European Union warned Monday that Britain's economic growth could be 2.5 percent lower than previously forecast through next year as a result of the negative effects from the country's decision to leave the bloc.
In a preliminary assessment of the costs of a so-called Brexit, the EU's economic affairs commissioner Pierre Moscovici said the increased uncertainty related to the June 23 vote to leave the EU will reduce Britain's GDP between 1 and 2.5...