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Updated: 1 hour 33 min ago

Van Rompuy and Barroso leave EU stage with porcelain plates

24 October, 2014 - 19:13
Herman Van Rompuy and Jose Manuel Barroso said goodbye to EU leaders on Friday after attending their final summit as presidents of the EU council and commission. But the summit was marred by a budget row.


Draghi warns eurozone leaders on recession 'relapse'

24 October, 2014 - 19:09
European Central Bank chief Mario Draghi warns eurozone leaders of recession unless they agree a "concrete timetable" of reforms and spur investments.


[Ticker] Report: 25 banks to fail ECB stress tests

24 October, 2014 - 19:07
About 25 eurozone banks failed the European Central Bank's financial-health checks, according to a senior official quoted by the Wall Street Journal. More than half of those banks did take steps to clean up their balance sheets this year, however. The stress tests will be published on Sunday.


[Ticker] Renzi contradicts Cameron on 'lethal weapon' quote

24 October, 2014 - 17:09
Italian Prime Minister Renzi said he "never used the term lethal weapon" in reference to the extra payments to the EU budget Italy and Britain have to pay, as quoted by British PM Cameron earlier that day. "I talked about technocrats and bureaucracy, this is no lethal weapon," Renzi said.


Hungary's Orban stonewalls US corruption allegations

24 October, 2014 - 17:04
Hungary is demanding the US hand over evidence after the Americans placed an entry ban on six officials close to Viktor Orban’s government last week.


UN welcomes EU climate deal

24 October, 2014 - 15:58
The climate agreement “opens the door to greater ambition by all countries”, the head of UN body on climate change said.


Cameron vows to reject €2 billion EU bill

24 October, 2014 - 15:16
UK prime minister David Cameron vowed to oppose "in every way possible" the extra €2.1 billion EU budget bill, which he said was 'completely unjustified and unacceptable', as the row dominated the second day of the leaders' summit in Brussels.


[Ticker] Cameron 'angry' over extra EU bill of €2bn

24 October, 2014 - 14:01
British PM Cameron held up an EU summit to express his "downright anger" over the "unjustified" and "unacceptable" way the European Commission said London needs to pay another €2bn to the EU budget by December after GDP calculations were changed. EU finance ministers will examine the issue in November.


Cameron slapped with new €2bn EU bill

24 October, 2014 - 08:47
The EU has told the UK it must pay a new €2.1 billion bill by 1 December, in grist for the mill of Cameron's eurosceptic adversaries at home.


Cyprus seeks harsh EU statement on Turkey

24 October, 2014 - 08:29
Nicosia persuaded EU leaders at the summit in Brussels on Thursday to criticise Turkey for violating its economic zone and sovereignty.


Renzi stirs up EU row ahead of eurozone meeting

24 October, 2014 - 08:27
Eurozone leaders are meeting Friday on public deficits and debt, amid an escalating dispute between Italian PM Renzi and outgoing commission chief Barroso.


[Ticker] Ice-cold relations inside the ECB: report

24 October, 2014 - 08:01
Relations between European Central Bank president Mario Draghi and German Bundesbank President Jens Weidmann have almost broken down, according to a Reuters Insight report. Weidmann's predecessor Axel Weber and ECB board member Juergen Stark both resigned in 2011 in protest against bond-buying policies of the European Central Bank.


[Ticker] Soros: EU has lost its way

24 October, 2014 - 08:00
"Europe is facing a challenge from Russia to its very existence," philanthropist George Soros warns in an article, entitled “Wake Up, Europe”, in the New York Review of Books. The EU in general, and the eurozone in particular, have lost their way after the financial crisis, he writes.


[Ticker] European bank stress tests to reveal small problems: report

24 October, 2014 - 07:59
The European Central Bank's stress test of 130 eurozone banks and 20 non-eurozone banks is to be published Sunday. The banks need about €10 billion in total, which would be easy for the sector to absorb, analysts told the Wall Street Journal. A few banks will technically fail the test.


[Ticker] Beer and wine fuelled EU climate deal

24 October, 2014 - 07:57
EU commission president Barroso joked Friday that beer and wine helped clinch the climate deal. "Dinner started with ... the best beer in the world, so from Belgium ... afterwards we had wine ... from Alentejo in Portugal", he said, noting it might have helped create "stimulating and inspiring conclusions".


EU leaders reach 2030 deal on climate and energy

24 October, 2014 - 02:59
EU leaders have agreed to cut greenhouse emissions by 40 percent by 2030, but poorer states won concessions, while green NGOs voiced dismay.


Merkel criticises Putin for broken promise on Ukraine

24 October, 2014 - 02:59
Most EU leaders on Thursday criticised Russia’s non-compliance with Ukraine peace accords, but Italy urged re-engagement with Moscow.


[Ticker] No comment from Barroso on extra €2 billion from UK

24 October, 2014 - 02:32
When asked about a one-off €2 billion top-up the United Kingdom is to make to the EU budget, as reported by the FT on Thursday evening, European Commission president Barroso gave no comment. "It's the first time I've heard about that", he said at a press conference early Friday.


[Ticker] Van Rompuy: EU deal reached on climate targets

24 October, 2014 - 00:08
EU leaders have reached a deal on climate targets, Council president Van Rompuy announced via Twitter. "Deal! At least 40% emissions cut by 2030", he wrote. "Also agreement on at least 27% renewables, at least 27% energy efficiency & boost to interconnections".


[Ticker] Poorer EU states to get pollution permits until 2030

24 October, 2014 - 00:00
The latest draft of summit conclusions, distributed at the leaders' dinner Thursday, says poorer EU states should get free carbon permits until 2030, but the figure from 2020 onward should be no more than 40% of the bulk of available allowances. Previous drafts spoke of no free permits after 2025.