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Dublin: 18 °C Monday 28 July, 2014
Eurozone

Eurozone

The name given to the 16 EU countries who have adopted the Euro as their sole currency. The European Central Bank is responsible for the monetary policy of the Eurozone.

# eurozone - Thursday 28 March, 2013

From TheJournal.ie With limits on cash withdrawals, Cypriot banks reopen calmly Cyprus

With limits on cash withdrawals, Cypriot banks reopen calmly

The restrictions on withdrawals, cashing of cheques and taking money abroad will be lifted within a month, the country’s foreign minister said today.

From TheJournal.ie Cypriot banks brace for reopening with cash withdrawals capped at €300 Nicosia

Cypriot banks brace for reopening with cash withdrawals capped at €300

Armed security guards have been posted, but there was no sign of customers queuing early for access to their cash.

# eurozone - Monday 25 March, 2013

Updated: All banks in Cyprus will now stay closed until Thursday

Earlier it had been reported that all banks, aside from the country’s two biggest financial institutions, would reopen tomorrow.

Cyprus reaches last minute deal to avoid bankruptcy

A failure to reach a deal could have seen the country exit the Euro.

# eurozone - Sunday 24 March, 2013

Explainer: Your 25-point crash course on what’s happening in Cyprus

Bailouts! Deposit levies! Leaving the euro? It’s all been happening in the last ten days.

From TheJournal.ie Noonan insists: ‘We would never hit depositors in Ireland’ Cyprus

Noonan insists: ‘We would never hit depositors in Ireland’

Speaking in Brussels ahead of crunch talks on a proposed bailout for Cyprus, Finance Minister Noonan said he expected to reach a deal but that it will be a long night.

Eurozone finance ministers to meet in Brussels on Cyprus crisis

Ministers will hold a last-ditch meeting to decide whether Cyprus will get a bailout – or be forced to leave the euro.

# eurozone - Saturday 23 March, 2013

Merkel ally admits European authorities underestimated Cyprus ‘mess’ Cyprus This post contains videos

Merkel ally admits European authorities underestimated Cyprus ‘mess’

Elmar Brok, the chair of the European Parliament’s Foreign Affairs Committee, has admitted he can foresee a situation where Cyprus could exit the single currency and said that authorities underestimated the current situation there.

Cyprus president prepares for Brussels as parties debate 25pc deposit tax

The Troika are in Cyprus for intensive talks, while Nicos Anastasiades could yet lead a delegation to Brussels this afternoon.

# eurozone - Thursday 21 March, 2013

From TheJournal.ie Eurogroup ready to discuss new Cyprus proposal Cyprus

Eurogroup ready to discuss new Cyprus proposal

The group reaffirmed the importance of fully guaranteeing deposits below €100,000 in the EU.

UPDATE: Cyprus to create ‘solidarity fund’

The country’s president said a decision must be made today. Meanwhile, the Finance Minister remains in Russia for negotiations.

# eurozone - Wednesday 20 March, 2013

From TheJournal.ie Cyprus president demands bailout decision on Thursday Cyprus

Cyprus president demands bailout decision on Thursday

Earlier today the European Commission said it is up to the Cypriot government now to present an alternative scenario for the bailout.

Brussels: ‘It’s up to Cyprus to come up with a revised bailout deal’

The European Commission says there’s nothing else it can do if the Cypriot parliament won’t approve the bailout it offered.

Cyprus minister: Troika rejects our Plan B, and banks might never re-open

The interior minister says the Troika has rejected alternative options put forward by Cyprus for securing its €10 billion loan.

Cyprus turns to Russia for help after MPs reject deposit tax

While President Nicos Anastasiades meets party leaders at home, the finance minister heads to Moscow with cap in hand.

# eurozone - Tuesday 19 March, 2013

From TheJournal.ie Cyprus MPs overwhelmingly reject tax on deposits Bailout

Cyprus MPs overwhelmingly reject tax on deposits

Thirty six voted against it, while there were 19 abstentions.

Cyprus to exempt small savers from deposit tax ahead of crucial vote

Accounts with balances under €20,000 will be exempted from a controversial levy if it is approved by MPs today.

From TheJournal.ie Kenny speaks of Ireland’s ‘indomitable spirit’ ahead of shamrock ceremony Shamrock Ceremony

Kenny speaks of Ireland’s ‘indomitable spirit’ ahead of shamrock ceremony

Kenny said that the Irish people had accepted the “huge sacrifices we’ve asked of them”.

# eurozone - Monday 18 March, 2013

From TheJournal.ie Cyprus postpones crucial vote on unpopular bailout until Tuesday Controversial

Cyprus postpones crucial vote on unpopular bailout until Tuesday

The president is trying to get parliamentarians to back the bailout deal that slaps a hugely unpopular levy on bank savings.

# eurozone - Saturday 16 March, 2013

From TheJournal.ie Bank deposits hit as EU/IMF bailout for Cyprus agreed Cyprus

Bank deposits hit as EU/IMF bailout for Cyprus agreed

Deposits in Cypriot banks will be hit with a one-off levy of 6.75 per cent with those with over €100,000 in banks hit with a 9.9 per cent levy under the €10 billion bailout proposal.

# eurozone - Friday 15 March, 2013

Eurozone finance ministers consider Cyprus bailout

The meeting of finance ministers will follow day two of a summit by EU leaders which will focus on the Syrian crisis.

# eurozone - Wednesday 6 March, 2013

Eurozone sinks further into recession in last quarter of 2012

Figures from Eurostat confirm initial estimates in February that the eurozone economy shrank by 0.6 per cent in Q4 of 2012 with the EU shrinking by 0.5 per cent.

# eurozone - Friday 1 March, 2013

From TheJournal.ie Over 26 million people unemployed across the EU Unemployment

Over 26 million people unemployed across the EU

Meanwhile, eurozone unemployment hit a record 11.9 per cent in January with just under 19 million now out of work in the 17-member bloc.

# eurozone - Tuesday 19 February, 2013

Sold: Government confirms sale of Irish Life for €1.3 billion

The government has finally sold off the life and pensions arm of Irish Life and Permanent which was split from Permanent TSB after it required a €4 billion bailout in 2011.

# eurozone - Thursday 14 February, 2013

Eurozone economy shrinks by 0.6pc in last quarter of 2012

Uh-oh. A dramatic drop in the Eurozone economy spells bad news for hopes of a further boom in Irish exports.

# eurozone - Sunday 10 February, 2013

EU ‘fears’ Berlusconi’s return to power: Monti

Italy’s outgoing Prime Minister has expressed fears over Silvio Berlusconi’s potential negative effect on the euro, should his party win this month’s election.

# eurozone - Monday 4 February, 2013

From TheJournal.ie Gilmore: This is a critical time for discussion on promissory notes Promissory Notes

Gilmore: This is a critical time for discussion on promissory notes

The Tánaiste said that the future of the Irish government is a matter for the Irish government and the Irish people.

From TheJournal.ie Taoiseach in Brussels for European budget talks Debt Crisis

Taoiseach in Brussels for European budget talks

He is joining the other three Presidents of the EU – Herman Van Rompuy, José Manuel Barroso and Martin Schulz.

# eurozone - Monday 28 January, 2013

From TheJournal.ie Poll: Do you think the global economic crisis is over? Your Say This post contains a poll

Poll: Do you think the global economic crisis is over?

Most of those attending the World Economic Forum in Davos last week reckoned the four-year crisis is over, but what do you think?

# eurozone - Thursday 24 January, 2013

Fewer than one in ten people trust business and government leaders

Levels of trust in media of 45 per cent and NGOs of 63 per cent both rose by 10 percentage points in 2012.

From TheJournal.ie Spain unemployment rate shoots to 26 per cent EU

Spain unemployment rate shoots to 26 per cent

An extra 187,300 people have joined Spain’s jobless queue – bringing the total to 5.97 million people.

# eurozone - Wednesday 23 January, 2013

11 EU nations get go-ahead for ‘Robin Hood tax’, Ireland not among them

Concerns about jobs at the IFSC are among the reasons that Ireland has not signed up to implementing a levy on financial transactions despite Greece, Portugal, Italy, Spain, Germany and France all doing so.

From TheJournal.ie Poll: Should Ireland hold a referendum on EU membership? Your Say This post contains a poll

Poll: Should Ireland hold a referendum on EU membership?

Today British Prime Minister David Cameron said there would be a referendum on EU membership in the UK in 2017. Do you think we should have one too?

# eurozone - Tuesday 22 January, 2013

From TheJournal.ie Column: What would it mean for Ireland if the UK left Europe? Opinion

Column: What would it mean for Ireland if the UK left Europe?

The British Prime Minister hopes to negotiate fundamental changes in his country’s membership of the European Union, but this would have profound consequences for this island, writes James Kilcourse.

Eurozone finance ministers agree to examine Ireland’s loan repayments

The deal has been hailed by finance minister Michael Noonan as having the potential to save Ireland billions of euro.

# eurozone - Monday 21 January, 2013

Noonan arrives in Brussels for key talks on aid for banks

Michael Noonan will chair tomorrow’s meeting of EU finance ministers; today’s Eurogroup meeting will elect a new head.

# eurozone - Sunday 20 January, 2013

From TheJournal.ie Voters in Austria likely to maintain compulsory military service Austria

Voters in Austria likely to maintain compulsory military service

Austria looks set to remain one of the few European countries with compulsory military service as voters go to the polls in a referendum being held today.

# eurozone - Tuesday 15 January, 2013

From TheJournal.ie Column: How much has Ireland paid for the EU banking crisis? Opinion

Column: How much has Ireland paid for the EU banking crisis?

Ireland has been declared a ‘special case’ by Angela Merkel – and these figures show exactly why, writes Michael Taft.

# eurozone - Tuesday 8 January, 2013

Over 26 million people unemployed across the EU

The unemployment rate in the EU remains at 10.7 per cent but, at 11.8 per cent, it is much higher across just the euro area.

From TheJournal.ie Kenny to address meeting of Merkel’s Bavarian sister party Next Stop Munich

Kenny to address meeting of Merkel’s Bavarian sister party

The Taoiseach is in Munich to address a meeting of the Christian Social Union, the regional sister party of the CDU.