The Wall Street Journal March 1, 2010 BRUSSELS–The European Union needs new regulatory powers to manage troubled financial institutions with operations in multiple countries, including the authority to nationalize them in a severe crisis, staff of the International Monetary Fund said in a letter to the European Commission, the EU’s executive branch. more
Spiegel March 1, 2010 With Greece expected to begin a 5 billion euro bond issue this week, the European Union has said it wants Athens to introduce even more austerity measures to bring down its budget deficit. Euro zone chief Juncker now says he may reveal “instruments of torture” in the currency’s battle against speculators. […]
Spiegel March 1, 2010 With Greek finances dragging down the euro, calls for coordinated fiscal policy within the common currency zone have become more frequent. Now, Germany and France have presented a paper outlining what such a regime might look like. Increased monitoring is at the top of the priority list. more