European Commission

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  Greece’s Budget to Frontload Cuts

  By Marlene Y. Satter, AdvisorOne  |  October 1, 2012

  A government official has said that the Greek draft budget frontloads cuts to return the country to a surplus in 2013, but at the cost of shrinking its economy for a sixth straight year.

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  Germany No Obstacle to Oversight: EC Official

  By Marlene Y. Satter, AdvisorOne  |  September 21, 2012

  The head of the EC's financial services arm said that the EC was confident it could win Germany over on the matter of the ECB overseeing all eurozone banks.

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  Spain Hesitates on Aid as European Finance Ministers Meet

  By Marlene Y. Satter, AdvisorOne  |  September 14, 2012

  Prime Minister Mariano Rajoy of Spain continued to hold off in requesting a bailout for the country’s banks, citing lower interest rates in the wake of the ECB's decision to commit to unlimited bond purchases.

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  EC President Unveils Banking Union Plan

  By Marlene Y. Satter, AdvisorOne  |  September 12, 2012

  The plan laid out by President Jose Manuel Barroso would not only allow the ECB to supervise all eurozone banks, but would also give it jurisdiction over a broader, and at first voluntary, EU banking base.

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  LIBOR Will Be Gone in 5 Years: Poll

  By Marlene Y. Satter, AdvisorOne  |  September 7, 2012

  A majority of investors surveyed around the world believe that LIBOR will be gone within five years, and a more tightly regulated benchmark will take its place.

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  Troika Demands Greeks Adopt Six-Day Workweek

  By Marlene Y. Satter, AdvisorOne  |  September 5, 2012

  Greeks could be forced into harsh new labor regulations as part of the terms of its bailout, according to a leaked letter from the so-called troika of the EC, ECB and IMF.

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  LIBOR Restrictions Under Discussion

  By Marlene Y. Satter, AdvisorOne  |  September 5, 2012

  The EC has begun discussions with the financial industry to determine a means of subjecting benchmark indices to restrictions that will make them less prone to manipulation.

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  German Bankers Argue Over ECB Supervision Plans

  By Marlene Y. Satter, AdvisorOne  |  September 4, 2012

  The EC has plans to give the ECB authority to supervise all eurozone banks, but the German government says that only the largest banks should be subject to ECB oversight.

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  Eurozone Confidence Falls

  By Marlene Y. Satter, AdvisorOne  |  August 30, 2012

  Economists were more optimistic than businesses and consumers in the eurozone, as figures show economic confidence reached its lowest level in three years.

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  Greece Must Stay in Eurozone: Hollande, Merkel

  By Marlene Y. Satter, AdvisorOne  |  August 27, 2012

  After meeting with Prime Minister Samaras of Greece on Saturday, President Hollande of France reiterated that Greece must remain in the eurozone—echoing the words of the German chancellor, Angela Merkel, the day before.