European Central Bank News

Press Release 19 June 2013 For more information, please contact: Geraldine Fontaine +33 1 58 44 75 58 Communications and Public Affairs Antonio Moretti +33 1 58 44 77 15 Investor Relations Director Denis Kessler is elected 2012 "Financier of the year" Denis Kessler, Chairman & CEO of SCOR, has been elected 2012 "Financier of the Year", an award run ... (more)

Eurozone finance ministers meet Thursday amid sharp differences over banking sector reforms -- trying to resolve whether taxpayers or creditors pay for future bailouts.

Activating so far unused plans of the European Central Bank to buy bonds of stricken euro zone states right now would trigger a debate about the independence of its monetary policy, German Finance Minister Wolfgang Schaeuble said on Wednesday.

Common banking supervision under the auspices of the European Central Bank will begin several months later than previously thought, a senior ECB official said Monday.

Jean-Claude Juncker, the former chairman of the Eurogroup and current prime minister of Luxembourg, tells Kathimerini that he had a battle on his hands to ensure that Greece remained in the eurozone during his term at the helm of the forum of eurozone finance ministers.

The representatives of Greece's international creditors are set to extend their inspection in Athens beyond this week for four main reasons, these being the 2.1-billion-euro gap in the budgets for 2013 and 2014, delays in the privatizations program as well as in the restructuring of the public sector, and reservations regarding the application of ... (more)

Milan, June 18 - The Milan bourse went up over half a point Tuesday after the European Central Bank chief said the ECB "was ready to act if necessary" to boost the eurozone economy.

Common banking supervision under the European Central Bank will begin in the second half of 2014, a senior ECB official said Monday.

Tuesday, June 11 began as any other day in crisis and austerity-striken Greece. Over 1.5 million people woke up to another day of unemployment, millions more woke up to another day of lowered salaries and pensions and slashed public services, as part of the crippling austerity measures that Greece's three-party coalition government is implementing, ... (more)

Financial fragmentation in the euro area has been officially declared as Public Enemy No.

Spanish Prime Minister Mariano Rajoy on Saturday called on the European Central Bank to create a cheap funding scheme for small businesses, mirroring those used by authorities outside the euro zone to try and get credit flowing via banks.

The head of the International Monetary Fund said she was satisfied with the cooperation between the IMF and European lenders, amid criticism about the flaws in the relationship.

The Euro Working Group of eurozone finance ministry officials have approved the disbursement of the next bailout loan tranche to Athens, sources from Athens and Brussels confirmed on Friday, although the disbursement itself will not take place before the Eurogroup meeting next Thursday.

The Hellenic Association for Financial Law, member of the European Society for Banking and Financial Law, recently organized a conference in Athens on "The crisis of the Cypriot Banking System and the recovery and resolution measures of Cypriot banks", chaired by the distinguished Greek lawyer Dr. Dimitris G. Tsibanoulis The conference attracted ... (more)

The Euro sculpture is seen in front of the European Central Bank in Frankfurt, central Germany, in this Nov. 30, 2005 file photo.

Spanish banks borrowed 259.3 billion euros from the European Central Bank in May, down from 265.1 billion euros in April, data from the Bank of Spain showed on Friday, marking the ninth month of consecutive falls.

The European Central Bank 's Outright Monetary Transactions program is "perfectly legal," and the German Constitutional Court should recognize that it is crucial for both Germany and Europe as a whole, former ECB President Jean-Claude Trichet said.

Journalists occupying ERT's headquarters in Athens first managed to keep the service alive via the internet.

The worst economic crisis since World War II has demonstrated the resilience of the euro, the former head of the European Central Bank said Wednesday.

President of the German Federal Bank, Jens Weidmann, enters the German Constitutional Court in Karlsruhe, Germany, Wednesday June 12, 2013.