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Business 11 May 2010 | 12:00 AM

Trillion-dollar euro rescue won't solve low growth

BRUSSELS: A bold US$1 trillion rescue by the European Union has halted the slide of the euro and sent markets soaring worldwide in a gambit that may ultimately be seen as the moment Europe truly became a union.

Business 12 Dec 2012 | 12:00 AM

Europe seeks to end discord over banking union

BRUSSELS: An impasse over plans for the European Central Bank to supervise banks, the European Union's most ambitious financial reform, takes centre stage at a finance ministers' meeting on Wednesday.

Business 29 Feb 2012 | 12:00 AM

Europe’s empty fiscal compact

THE driving force of Europe’s economic policy is the “European project” of political integration. That goal is reflected in the European Union’s current focus on creating a “fiscal compact,” which would constitutionalise member states’ commitment to supposedly inviolable deficit ceilings.

Business 06 Jun 2012 | 12:00 AM

EU, Germany exploring Spanish rescue, no request yet

MADRID/BERLIN: Germany and European Union officials are urgently exploring ways to rescue Spain's debt-stricken banks although Madrid has not yet requested assistance and is resisting being placed under international supervision, European sources said on Wednesday.

Business 19 Oct 2012 | 12:00 AM

Europe advances towards single banking supervisor

BRUSSELS: European Union leaders took a big stride towards establishing a single banking supervisor for the euro zone, striking a deal under which the bloc's rescue fund could start recapitalising ailing banks next year, a French government source said.

Business 07 Jun 2012 | 12:00 AM

Towards EU banking union

BRUSSELS: As urgency mounts over Spain’s finances, the European Union (EU) unveiled new plans for winding up failing banks, a first step towards a controversial eurozone “banking union”.

Business 16 Oct 2012 | 12:00 AM

Britain seeks way to block ECB from overruling Bank of England

BRUSSELS: Britain is pushing for changes to a proposed eurozone banking union to dilute the power of the European Central Bank (ECB), European Union (EU) officials said, potentially hampering efforts to build the infrastructure urgently needed to underpin the euro.

Economy 22 Mar 2019 | 12:00 AM

Indonesia threatens to ban European goods

JAKARTA: Indonesia threatened to ban imports of some goods from the European Union in retaliation for the bloc’s move to impose stricter limits on how palm oil can be used in green fuels.

Business 04 Jan 2016 | 12:00 AM

The EU proves it’s here to stay

IN recent years, there hasn’t been much to like about the European Union, with its low growth, high unemployment, political squabbles, xenophobia, stifling bureaucracy and constant threats of a breakup.

Business 05 Mar 2010 | 12:00 AM

Greece says 5-yr bond 3 times oversubscribed

ATHENS, Greece: Greece raised badly needed cash with a new bond issue Thursday, passing a key test of its ability to avoid a disastrous debt default and dig out of a financial crisis that has shaken the European Union.