Cyprus scrambles as ECB readies ax

Mar 23, 2013

Cyprus scrambles as ECB readies ax

The eurozone, a centerpiece of Europe’s efforts to knit its far-flung nations into a coherent whole, edged toward rupture Thursday as the European Central Bank said it was ready to pull the plug on Cyprus. The stark ultimatum came in a terse statement Thursday ...

Mar 22, 2013

Abe, EU leaders to discuss plan to mesh auto standards

To cut vehicle development costs and facilitate approval processes, the government is considering conforming to European Union automobile safety and environmental standards, sources said Thursday. Prime Minister Shinzo Abe will discuss the issue with European Commission President Jose Manuel Barroso and European Council President ...

Mar 19, 2013

Eurozone urges Cyprus to shield small savers

The eurozone told Cyprus on Monday to ditch the part of a hugely controversial €5.8 billion ($7.5 billion) grab on savings that stung even the smallest of account holders in exchange for a €10 billion sovereign bailout deal, according to a statement issued after ...

Mar 19, 2013

Cyprus president desperately seeks to stop bank run

Amid fears of a run on bank accounts in Cyprus, President Nicos Anastasiades is trying to persuade lawmakers to back an EU bailout deal that slaps a levy on bank savings. Anastasiades, in an address to the nation Sunday night, said that rejecting the ...

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 ...

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 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 ...