By Luke Baker and John O'Donnell. It was prepared by Herman Van Rompuy, who as president of the European Council will chair a European Union summit next week.
OSLO, Norway-- For fostering peace on a continent ravaged by war, the European Union won the Nobel Peace Prize on Friday.
By Luke Baker and John O'Donnell. BRUSSELS, Oct 12- Euro zone countries should consider clubbing together to borrow as well as paying into a central budget that could be used to help struggling countries, according to a report prepared by senior European officials ahead of a meeting of leaders.
BRUSSELS, Oct 12- The euro zone should consider pooling some limited short-term borrowing as well as a separate budget that could be used to deal with economic problems in individual countries, according to a report prepared for EU leaders who will meet next week.
Some reaction to the European Union being awarded the Nobel Peace Prize on Friday:. "The stabilizing part played by the European Union has helped to transform a once-torn Europe from a continent of war to a continent of peace" _ Nobel committee chairman Thorbjoern Jagland.
OSLO, Norway-- The European Union won the Nobel Peace Prize on Friday for promoting peace and democracy in Europe _ an honor that came as 27- nation bloc was struggling with its biggest crisis since it was created in the 1950 s.
NICOSIA, Cyprus-- Cyprus' president appealed to trade unions on Friday to rally behind tough austerity measures that the government wants to negotiate with potential creditors in return for a multibillion euro bailout loan to prop up the country's ailing banks and economy.
NICOSIA, Cyprus-- EU Commission President Jose Manuel Barroso is urging political leaders in Cyprus to agree on austerity measures needed for a deal to bail out its ailing banks.
VALLETTA, Malta-- EU Commission President Jose Manuel Barroso says a blueprint for a banking union and supervision of the banking system will be presented at the EU's October summit as part of measures to raise confidence in the euro currency.
By Jan Lopatka and Martin Santa. BRATISLAVA, Oct 5- Poor European Union states must fight hard to prevent richer members from cutting development aid for the rest of this decade or growth across the entire bloc could be undermined, the head of the EU executive said on Friday.
BRUSSELS, Oct 3- Ireland urged euro zone leaders on Wednesday to stick to a deal allowing the bloc's rescue fund to assist its ailing banks, in a move to head off threats that the agreement could be unwound.
BRUSSELS, Oct 3- European leaders have clearly agreed that the euro zone's rescue fund, the European Stability Mechanism, should be able to directly recapitalise banks once a supervisory mechanism has been put in place, the president of the European Commission said on Wednesday.
BRATISLAVA- The central bank to comment on preliminary July current account data. BRATISLAVA- The central bank to publish preliminary July and revised June current account data.
European Commission President Jose Manuel Barroso called for more European integration to help tackle the euro zone debt crisis in his State of the Union speech on Wednesday through the creation of a “federation of nation states”.
Jose Manuel Barrosso, president of the European Commission gives his State of the Union Address in Strasbourg.
The European Central Bank would be given sweeping authority over all 6,000 eurozone banks under a plan being drawn up by the European Commission, putting Brussels on a collision course with Germany and the ECB itself, which have urged a more decentralised first step towards “banking union”, the Financial Times Reports.
What did we think of European Commission President Jose Manuel Barroso’s comments last week on the UK and Europe?
Plans to force Europe’s banks to increase their equity capital to ensure they can withstand the worsening euro zone debt crisis and restore confidence in the sector have been met with criticism from analysts and business leaders, who fear the proposals will lead to dilution for shareholders and a further backlash.
As European markets fell Wednesday immediately after European Commission President Jose Manuel Barroso confirmed plans for a financial transaction tax, the idea was met with scorn in some quarters.
Markets around the world have been waiting for decisions from euro zone leaders on greater fiscal integration and euro bonds since July.