Mar 1, 2013

EU decides cap on banker bonuses

Top European Union officials late Wednesday struck an agreement on a package of financial laws that include capping bankers’ bonus payments at a maximum of one year’s base salary. The bonuses will only be allowed to reach twice the annual fixed salary if a ...

Seeking EU aid, Cyprus elects conservative leader

Feb 26, 2013

Seeking EU aid, Cyprus elects conservative leader

Conservative candidate Nicos Anastasiades won Cyprus’ presidency Sunday by one of the widest margins in 30 years, promising to do what it takes to quickly secure a financial rescue package from international creditors and prevent the country from sliding into economic oblivion. Anastasiades, 66, ...

Feb 20, 2013

EU shoots down bid to arm Syrian rebels

Rejecting a push by Britain, European governments on Monday decided against providing weapons to Syrian rebel forces, expressing fears that more arms would only lead to more bloodshed in a conflict that already has taken nearly 70,000 lives. The decision, by European Union foreign ...

Eurozone recession deepens as German engine splutters

Feb 16, 2013

Eurozone recession deepens as German engine splutters

It was only a matter of time. With many of its debt-ridden euro partners in recession, Germany could only swim against the tide for so long. Figures Thursday showed that output in Germany, Europe’s largest economy, contracted by more than anticipated in the final ...

Cameron calls EU cuts a win

Feb 10, 2013

Cameron calls EU cuts a win

Prime Minister David Cameron claimed victory in his battle to slash the EU budget Friday, saying marathon talks proved that his promise of a referendum on EU membership had not left Britain isolated. Cameron had vowed to accept nothing less than a real-term freeze ...

Feb 10, 2013

Outline of European Union budget from 2014 to 2020

Actual spending, or “payments” in EU jargon, was set at €908.4 billion ($1.2 trillion), with an absolute ceiling of €960 billion for spending “commitments” ― the maximum amount that can be allocated to programs. The commitment figure is just 1 percent of the bloc’s ...

Feb 10, 2013

Canada talks end in deadlock

Two days of face-to-face meetings between Canada’s trade minister and his EU counterpart, ending late Thursday, failed to break a deadlock on the last stumbling blocks to reaching a free-trade pact. “Progress was made in several of the areas that remain outstanding. However, further ...

EU's leaders wage tough battle over budget

Feb 8, 2013

EU's leaders wage tough battle over budget

European Union leaders prepared the first-ever cuts in the bloc’s budget Friday, bowing to British Prime Minister David Cameron’s insistence on thrift. After an all-night bargaining session interspersed with catnaps on couches at EU headquarters in Brussels, the leaders reassembled at 6:30 a.m. to ...

Feb 8, 2013

Ireland seals deal to lighten debt load

Ireland clinched a long-sought agreement Thursday with the European Central Bank to restructure the loans used to bail out its failing banks, a deal expected to reduce the national debt by €20 billion ($27 billion) in the coming decade and help the country’s expected ...

Feb 8, 2013

EU member states to lift ban on imports of Japanese beef

The European Commission said Wednesday that European Union member states have decided to allow imports of Japanese beef, a move that will enable Japan’s beef producers to tap into the bloc of some 500 million people. Beef exports to the European Union are expected ...