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EU reaches accord on disputed financial transaction tax

Last Updated: Tuesday, May 06, 2014, 19:50

The EU finance ministers backing a controversial financial market tax, agreed on Tuesday it would come into effect in 2016 at the latest, despite strong opposition by some countries, officials said.

EU reach banking union deal to close failing banks

Last Updated: Thursday, December 19, 2013, 01:37

EU finance ministers Wednesday reached a banking union accord which will hand Brussels unprecedented new powers to prevent failing banks from wrecking the economy, official sources said.

EU finance ministers under pressure on next step in bank regulation

Last Updated: Sunday, December 08, 2013, 10:03

The 28 are trying to reconcile deep differences over a Single Resolution Mechanism (SRM) meant to stabilise, and if necessary, close a failing bank before it does too much damage.

EU ministers narrow differences over banking union

Last Updated: Friday, November 15, 2013, 23:38

EU finance ministers narrowed Friday some of their differences over "Banking Union", a new framework meant to prevent a repetition of the financial meltdown that plunged Europe into crisis.

EU finance ministers to agree new bank supervisor system

Last Updated: Tuesday, October 15, 2013, 18:25

EU finance ministers were set Tuesday to take a key step towards a new bank regulatory framework with final clearance of a single supervisor regime.

Millions more Europeans at risk of poverty if austerity drags on: Oxfam

Last Updated: Thursday, September 12, 2013, 10:23

Up to 25 million more Europeans are at risk of sinking into poverty by 2025 if governments push on with austerity measures, international aid agency Oxfam warned Wednesday, calling such policies "moral and economic nonsense".

EU finance ministers struggle on bank closures

Last Updated: Saturday, June 22, 2013, 11:00

As the talks dragged on after an early start Friday, hopes faded of an overall deal to finally put the banking sector's problems to rest.

Cyprus eases some restrictions on banks: Report

Last Updated: Saturday, March 30, 2013, 12:14

Debit and credit cards can be used normally for domestic payments following the ease on transaction.

Euro ministers agree to ease bank levy conditions for Cyprus

Last Updated: Tuesday, March 19, 2013, 12:58

Faced with mounting public outrage in Cyprus and hostile reaction from global financial markets, the euro zone finance ministers have decided to ease the conditions of a bank levy for small savers, which was agreed last Saturday as part of a 10 billion-euro (13 billion dollars) bailout for the debt-stricken nation.

EU finance ministers reach basic pact to cap bankers' bonus

Last Updated: Wednesday, March 06, 2013, 15:59

The Finance Ministers of the European Union have reached a basic agreement to rein in bankers' bonus, leaving Britain isolated as the only member-nation refusing to sign up.

EU finance ministers break no new ground on debt crisis

Last Updated: Sunday, September 18, 2011, 18:24

EU finance ministers broke no new ground in dealing with the euro zone debt crisis in discussions over the weekend, instead absorbing some ideas and rejecting others and taking stock of progress on agreed steps.