Kathryn Carlson
EU backs Kristalina Georgieva for second IMF term
BRUSSELS ― The EU has backed Kristalina Georgieva for a second term at the head of the International Monetary Fund.Finance ministers agreed over breakfast in Brussels on Tuesday to rally around the Bulgarian’s candidacy as a show of EU unity, according to...
6 months ago
EU hints at relaxing parts of global bank rules in face of US delays
BRUSSELS ― The EU has signaled it could relax the way it pushes through controversial international banking standards if it believes that's what's needed to better compete with the rest of the world.The European Commission “stands ready to act if necessar...
6 months ago
Bulgaria can’t join the eurozone in January. Here’s why.
Behind an imposing wooden desk in Sofia, in a complex once housing a statue of Lenin, the man who presides over the 20-strong group of eurozone finance ministers chose his words carefully.“I am strongly convinced that Bulgaria will join the euro area in 2...
5 months ago
UK rejects European Parliament’s claim Gibraltar is undermining Russian sanctions
STRASBOURG — The U.K. government said it was “extremely disappointed” after the European Parliament accused Gibraltar of undermining sanctions against Russia in a vote to keep the territory on the EU’s money-laundering watchlist.A strong majority of 490 M...
5 months ago
UK slams MEPs for saying Gibraltar is undermining Russian sanctions — and calling it a ‘colony’
STRASBOURG — Britain reacted with fury after European lawmakers accused Gibraltar of making it easy for Russia to exploit sanctions loopholes and branded the territory a "colony."The spat, just the latest chapter in the centuries-old saga of the tiny Medi...
5 months ago
EU announces deal with Andorra and San Marino – just don’t mention finance
European microstates Andorra and San Marino are to get expanded access to the EU's single market — but their important financial sectors are to be excluded for now.Once ratified, the "association agreement" will allow the two tiny nations a similar level...
4 months ago
Russian oligarch files $16B claim against Luxembourg over frozen assets
Russian-Israeli oligarch Mikhail Fridman has filed a $16 billion claim against Luxembourg over its decision to freeze his assets after he was placed on the European Union's sanctions list.In documents outlining the claim, Fridman’s legal team alleges that...
2 months ago
Eurozone ministers’ meeting in doubt over Hungary’s approach to Putin
BRUSSELS ― A meeting of eurozone finance ministers in Budapest next month could be canceled over mounting anger at Hungary's love-in with Russia. The head of the gathering, Irish Public Expenditure Minister Paschal Donohoe, will decide by next week whethe...
1 month ago
The enigmatic Irishman hoping to appeal to von der Leyen’s quiet side
BRUSSELS ― Ask around in Dublin and Brussels about the man the Irish government has chosen to send to the EU, and you won’t return much the wiser.Following the clubbable ebullience of Phil Hogan and then the personable dynamism of Mairead McGuinness, Dubl...
1 month ago
EU boycotts only make us stronger, Hungarian finance minister says
The boycotts of Friday's EU finance minister meeting in Budapest have only made the country stronger, Hungary's finance minister Mihály Varga said.Speaking in Budapest after the meeting, Varga said the “long list of our participants” for Friday’s meeting...
1 month ago
You cannot be serious! Europe’s next migration chief was a tennis hotshot
BRUSSELS — Magnus Brunner, selected as the next European commissioner for migration, is so good at tennis he once beat a future U.S. Open champion.“He was a tough opponent, and he always made life difficult for me on the court,” Julian Knowle, who won the...
3 weeks ago
Financial services role goes to Albuquerque ― but she brings baggage
BRUSSELS ― Maria Luís Albuquerque, who has been selected to oversee financial services in the new European Commission, has a mixed reputation at home.The Portuguese lawmaker was a surprise victor in the brawl for the role, seeing off competition from fina...
3 weeks ago
EU’s three biggest countries push for bank deregulation
The EU should slash planned rules for its banking sector to boost the bloc’s ability to compete internationally, France, Germany and Italy said. The heads of the treasuries of the three countries — the EU's biggest economies — made the request in a lette...
1 week ago
Italy, Germany, Netherlands short-listed for top job running EU dirty money watchdog
BRUSSELS — Italy, Germany and the Netherlands are on the short list for an EU top job running the bloc’s new anti-money laundering body, according to multiple officials.Italy’s Bruna Szego, Germany’s Marcus Pleyer, and Jan Reinder De Carpentier of the Net...
1 day ago