European Union budget enforcer Olli Rehn removed an obstacle blocking Spanish Prime Minister Mariano Rajoy’s path to a sovereign bailout, endorsing his deficit- reduction efforts as the recession deepened.
Euro-area finance chiefs may grant Greece more time to meet its bailout targets even as they split on whether the country needs another debt writedown and Greek politicians squabble over further austerity measures.
The European Union may ban Iranian oil imports within a few months, while ensuring the embargo doesn’t hurt the region’s economy and international security, Belgian Foreign Minister Didier Reynders told De Standaard.
Dexia SA shareholder Groep Arco is seeking further information on the business plan of French unit Dexia Credit Local SA before it will agree to sign off on a 4.2 billion euro ($5.6 billion) capital increase, De Standaard reported, citing people it didn’t identify.
The European Central Bank recommends cutting both the size and duration of planned government guarantees for Dexia SA’s liabilities, De Standaard reported on its website, without saying where it obtained the information.