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  • Feb 20- The following are extracts from the 15 action points from the European Commission's draft energy union strategy, expected to be published officially next week. 1. Full implementation and strict enforcement of existing energy and related legislation is the first priority to establish the energy union. The Commission will prepare a comprehensive...

  • BRUSSELS, Feb 20- The European Union will consider "reframing" energy relations with Russia based on market conditions when the time is right and for now will focus on its strategic gas partnership with Ukraine, a draft document shows. Russia's long-standing energy relations with the EU and Ukraine, the main transit route for Russian gas to the EU, have...

  • *Greece could run out of money by end of March. BRUSSELS/ ATHENS, Feb 20- European Union paymaster Germany softened its tone on Friday as euro zone finance ministers raced to break a deadlock over Athens' debts. "We have covered four fifths of the distance, they also need to cover one fifth," the official said, adding Greece wanted to clinch a deal on Friday, but that it would...

  • BRUSSELS, Feb 20- The European Union will consider "reframing" energy relations based on market conditions with Russia when the time is right and for now is focusing on building a strategic gas partnership with Ukraine, a draft document shows. Russia's long-standing gas relations with the EU and Ukraine, the main transit route for Russian gas to the EU, have...

  • TBILISI, Feb 19- Georgia's central bank sold $40 million in foreign currency on Thursday to support the weakening lari currency, and the government said it planned to ask the International Monetary Fund for more financial aid. It was the bank's second attempt this year to support the currency after it sold $40 million on Feb. 11, the same day that it raised its...

  • WASHINGTON, Feb 19- The International Monetary Fund on Thursday said it is confident Ukraine should get an overall $40 billion financing package to support its economy, without providing details about the breakdown of funds. The IMF last week said its staff had reached an agreement with the Ukraine government on a new economic program with about $17.5 billion...

  • WASHINGTON, Feb 19- All parties involved in the debt negotiations between Greece and its European partners are trying to minimize risks to financial stability, a spokesman for the International Monetary Fund said on Thursday. Some outside observers have warned that Greece could run out of cash and be forced to exit the euro zone if it did not agree on a six-month...

  • KIEV, Ukraine— Ukraine's finance minister rejects the notion that the country's Western bailout lenders might waver in their support in coming years as the bill for rescuing states in the region— including Greece— creeps higher. So even though the European Union and the International Monetary Fund are involved in aiding several countries at once, there is no...

  • CHISINAU, Moldova— Moldova's government is trying to stabilize the country's currency, which plummeted 25 percent this week amid concerns over the financial and political system. In his first Cabinet meeting, Prime Minister Chiril Gaburici said Moldova should begin talks with the International Monetary Fund. Gaburici has appointed French-born Stephane...

  • UPDATE 1-OECD raises Italy 2015 GDP forecast to 0.6 pct Thursday, 19 Feb 2015 | 8:12 AM ET

    *Warns market sentiment could turn on Italy. Italy has not posted a single quarter of growth since the middle of 2011.. The 114- page report on Italy's economy contained a 2015 growth forecast of 0.4 percent, but the OECD's head Angel Gurria told reporters at a presentation that the most recent developments had prompted an upward revision.

  • DIARY-Emerging Markets Economic Events to March 4 Wednesday, 18 Feb 2015 | 7:02 PM ET

    ROME- OECD Secretary General Angel Gurria will present the Economic Survey of Italy at a news conference with Economy Minister and Finance Minister Pier Carlo Padoan. SINGAPORE- Singapore Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam will deliver the 2015 Budget statement in the Parliament- 0500 GMT. JERUSALEM- Bank of Israel announces...

  • DIARY-Top Economic Events to March 4 Wednesday, 18 Feb 2015 | 7:01 PM ET

    FRANKFURT- Andreas Dombre, a board member of Germany's Bundesbank, to speak at International Bankers Forum- 1500 GMT. ROME- OECD Secretary General Angel Gurria will present the Economic Survey of Italy at a news conference with Economy Minister and Finance Minister Pier Carlo Padoan. LONDON- ECB Board member Yves Mersch takes part in a panel discussion on "The...

  • WASHINGTON, Feb 18- The United States urged Greece on Wednesday to strike a deal with European authorities and the International Monetary Fund over a financial lifeline for the debt-laden nation, warning that failure to reach agreement would lead to immediate hardship. "urged Greece to find a constructive path forward in partnership with Europe and the IMF," a...

  • EU plans to unify capital markets, emulate US Wednesday, 18 Feb 2015 | 9:16 AM ET

    BRUSSELS— The European Union plans to boost capital markets by breaking down barriers to cross border investments as it looks to match the more dynamic venture capital market in the U.S. The so-called Capital Markets Union unveiled Wednesday aims to unify the markets of the EU's 28 member countries by 2019, making it easier for companies to raise cash on stock...

  • BRUSSELS— The European Union has launched a drive to combat tax evasion following a series of probes into rules that allow multinationals to slash their bills in Luxembourg, Ireland and the Netherlands. It opened probes last year into Apple in Ireland, Starbucks in the Netherlands and Amazon in Luxemburg. Last week, the EU set up a special committee to look into...

  • LONDON, Feb 18- The European Union looks set to reduce capital charges on some securitised debt to revive a market that triggered the global financial crisis, but is now seen as key to funding the region's flagging economy. The EU's executive European Commission said it was planning to create a new class of high quality, simple, asset-backed securities that could...

  • LONDON, Feb 18- Britain's opposition Labor Party came under pressure to offer voters a membership referendum on leaving the European Union on Wednesday after a senior official quit over the issue and a major donor prepared to call for a policy U-turn. Unlike Conservative Prime Minister David Cameron, Labor has resisted offering such a referendum in the run-up...

  • TOKYO, Feb 18- Global growth remains uneven and fragile, and the weaker-than-envisaged global economy poses important challenges to developing Asia, a senior IMF official said, citing weak investment as a key negative factor in the region. The global economy faces the prospect of subpar growth, despite a boost from the recent drop in oil prices, with diminished...

  • PARIS— Paris' court of appeal has overturned a controversial 2008 decision to pay 403 million euros to French businessman Bernard Tapie in an arbitration ruling. The court's move overturns the decision taken when conservative Nicolas Sarkozy was president— and when Christine Lagarde, the current International Monetary Fund chief, was his economics...

  • Feb 17- It is more than a coincidence: the growth of finance really is holding the rest of the economy back. Even worse, according to a new paper from the Bank for International Settlements, this likely happens in part because we have too many clever bankers who would be producing more of value as aerospace designers or drug researchers. We go on to show that...