Eurozone

EuroZone

Welcome to our EuroZone Blogs Section.

The collective group of countries which use the Euro as their common currency. The Eurozone came into being in 1999, and originally consisted of 11 countries. Now 17 countries are members of the Eurozone. The Eurozone does not include every country in the European Union (some countries are not yet using the Euro), and does not include every country who is using the Euro (to become part of the Eurozone, the country must use the Euro as its sole legal currency). As a currency union, monetary rules are created and maintained by the European Central Bank.

This term refers to the economic area, also known as Euroland, comprising the 17 countries that have adopted the euro.
The 17 countries are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal,Slovakia, Slovenia and Spain.

Below is the latest news and information blogs about EuroZone.

Merkel-Macron meeting is ‘moment of truth’ for Europe: French minister

BERLIN/PARIS (Reuters) – France said an investment budget for the euro zone and a backstop for European banks demanded by President Emmanuel Macron are non-negotiable, raising pressure on Chancellor Angela Merkel before talks on Tuesday on reforming the bloc. German Chancellor Angela Merkel welcomes French President Emmanuel Macron at the German government guesthouse Meseberg Palace in Meseberg, Germany, June 19, 2018. REUTERS/Hannibal Hanschke French Finance Minister Bruno Le Maire said failure to reach an agreement on reforming the euro zone…

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LIVE MARKETS-“Investors looking again at UK banks” – despite Brexit – Politics News

June 19 – Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Helen Reid. Reach her on Messenger to share your thoughts on market moves: helen.reid.thomsonreuters.com@reuters.net “INVESTORS LOOKING AGAIN AT UK BANKS” – DESPITE BREXIT (0956 GMT) It hasn’t been a good year for banks with political risk and delays to the expected timing of rate hikes in the euro zone sending their index down more than…

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ECB to take patient and gradual approach to rate hikes: Draghi

SINTRA, Portugal, June 19 (Reuters) – The European Central Bank will take a “patient” and “gradual” approach to raising interest rates as inflation in the euro zone recovers, its president said on Tuesday, adding he was happy with current market expectations. “We will remain patient in determining the timing of the first rate rise and will take a gradual approach to adjusting policy thereafter,” Mario Draghi told an ECB conference in the Portuguese town of Sintra. “The path of very…

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Euro zone bond yields drop as US, China exchange tariff threats

LONDON, June 19 (Reuters) – Euro zone government bond yields dropped across the board on Tuesday morning, tracking U.S. Treasury yields lower, as an escalating trade conflict between the United States and China fuelled demand for safe haven assets. U.S. President Donald Trump threatened on Monday to impose a 10 percent tariff on $200 billion of Chinese goods, prompting a swift warning from Beijing of retaliation. The Shanghai SE Composite Index was down 4.9 percent on Tuesday, its biggest one-day…

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London metals cut losses as dollar falls on trade spat…

By Reuters Published: 21:55 EDT, 18 June 2018 | Updated: 21:55 EDT, 18 June 2018 MELBOURNE, June 19 (Reuters) – London metals edged higher and Shanghai contracts cut early losses as the U.S. dollar eased on Tuesday after the United States threatened wider tariffs on Chinese goods, escalating trade tensions between the world’s top two economies. FUNDAMENTALS * COPPER: London Metal Exchange copper climbed 0.5 percent to $6,996.50 a tonne by 0132 GMT, paring losses on Monday when prices plumbed…

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PTSB hires Citigroup to shift €900m of split mortgages from books

Permanent TSB has hired Citigroup to help shift €900 million of split mortgages off its balance sheet through a refinancing in international bond markets, as it races to appease regulators by lowering its level of problem loans. Sources said that Citigroup had been helping PTSB with options for this portion of its loan book before the Dublin-based bank decided a month ago to pull split loans from a multibillion-euro portfolio sale, known as Project Glas. It is expected that PTSB…

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Germany, France and eurozone reform ideas | News

France’s President Emmanuel Macron and Germany’s Chancellor Angela Merkel are battling to thrash out a common position on EU reforms ahead of a crunch end-June summit that could determine the future of the bloc. While there is large agreement on the questions of immigration and defence, the two are still at odds over eurozone issues. Here’s an outline of the various reform proposals for a post-Brexit Europe. – Migration – A record influx of migrants, many fleeing war in Syria…

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DIARY-Top Economic Events to August 16

For other diaries, please see: Top Economic Events Emerging Markets Economic Events Government Debt Auctions Political and General News U.S. Federal Reserve Today in Washington —————————————————————————————- This Diary is filed daily. ** Indicates new events —————————————————————————————- TUESDAY, JUNE 19 SINTRA, Portugal – ECB Forum on Central Banking (Price and wage-setting in advanced economies) (Final Day). SINTRA, Portugal – Introductory speech by ECB President Mario Draghi at ECB Forum on Central Banking in Sintra, Portugal – 0800 GMT. SINTRA, Portugal –…

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Spain’s PM heads to France on June 23 for migration,…

By Reuters Published: 18:00 EDT, 18 June 2018 | Updated: 18:00 EDT, 18 June 2018 PARIS, June 18 (Reuters) – New Spanish Prime Minister Pedro Sanchez will travel to Paris on June 23 for talks with Emmanuel Macron on migration and euro zone reforms, the French presidency said on Monday. It would be the Socialist leader’s first overseas visit since defeating his conservative predecessor Mariano Rajoy in a confidence vote last month. The talks will take place less than a…

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Macron’s euro zone reforms: Grand vision reduced to…

By Luke Baker PARIS, June 18 (Reuters) – When French President Emmanuel Macron laid out a sweeping vision for eurozone reform last September, he spoke of “rebuilding Europe”, with a common budget for the euro nations and a single minister to oversee it all. The proposals he will discuss when he sits down with German Chancellor Angela Merkel outside Berlin on Tuesday will be far less ambitious, with deep differences between the two European powerhouses. Many economists agree with Macron…

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The Macedonia effect? Deal may boost Greek debt relief hopes

ATHENS: With a brief formulation of words, Greek Prime Minister Alexis Tsipras may have boosted his chances of persuading foreign creditors to free his nation from years of financial humiliation on better terms than a few days ago. Tsipras agreed a deal with his Macedonian counterpart at the weekend under which Greece’s neighbour will be renamed “Republic of North Macedonia”, a formulation offering a chance to end a 27-year dispute with Skopje that has bedevilled the European Union’s eastward expansion.…

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The Macedonia effect? Deal may boost Greek debt relief…

By Reuters Published: 12:30 EDT, 18 June 2018 | Updated: 12:30 EDT, 18 June 2018 By Lefteris Papadimas and Renee Maltezou ATHENS, June 18 (Reuters) – With a brief formulation of words, Greek Prime Minister Alexis Tsipras may have boosted his chances of persuading foreign creditors to free his nation from years of financial humiliation on better terms than a few days ago. Tsipras agreed a deal with his Macedonian counterpart at the weekend under which Greece’s neighbour will be…

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LIVE MARKETS-European banks look attractive but… – Finance News

* European shares fall, led lower by industrials * Cable maker Nexans warns on profits * Bank CYBG clinches takeover of Virgin Money June 18 (Reuters) – Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net EUROPEAN BANKS LOOK ATTRACTIVE BUT… (1440 GMT) Betting on a long-lasting revival of European banking stocks has…

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Global stocks, oil suffer as U.S.-China trade spat heats up

LONDON (Reuters) – Global stocks slid on Monday and U.S. oil prices slumped after U.S. President Donald Trump announced tariffs on Chinese goods and Beijing responded with similar measures in an escalating trade dispute. Fears the spat between the world’s two largest economies could intensify added to pressure on oil prices, which extended Friday’s big fall into the start of week, while the dollar retreated from a seven-month high against a basket of currencies. .DXY The MSCI world equity index…

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UPDATE 1-Euro zone bond markets turn focus to Sintra forum for more ECB rate clues – Macroeconomic News

* ECB holds central bank forum in Sintra, Portugal * Investors wait for more clues on rate outlook * Most bond yields flat to lower * Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr (Updates prices, adds quote) By Dhara Ranasinghe LONDON, June 18 (Reuters) – Most government bond yields in the euro zone were steady to a touch lower on Monday, kept down by the European Central Bank’s signalling last week that it will keep interest rates low well beyond…

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Euro zone bond markets turn focus to Sintra forum for…

By Reuters Published: 03:40 EDT, 18 June 2018 | Updated: 03:40 EDT, 18 June 2018 By Dhara Ranasinghe LONDON, June 18 (Reuters) – Most government bond yields in the euro zone were steady on Monday, pausing after a hefty fall late last week after the European Central Bank signalled it would keep interest rates low well beyond the end of its massive stimulus scheme. A three-day ECB forum kicks off in Sintra, Portugal and gives ECB policymakers the opportunity to…

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