Italian court hands Meloni partial victory in UniCredit banking merger battle
The future of UniCredit’s controversial takeover bid of BPM remains in doubt after the ruling.
Central Banker
White House probe fuels speculation Trump could oust Fed chief Powell
The investigation into cost overruns on a renovation of Fed headquarters is drawing concern that it’s a pretext to eventually fire the central bank chief.
Two visions of European finance clash at elite Italian banking gathering
A bitter clash between the EU and Rome over a proposed bank merger reveals two contrasting visions for Europe.
Trump banking cop threatens global financial security, warns top US Democrat
U.S. Senator Elizabeth Warren wants Randal Quarles sacked from the global watchdog, warning he will unwind post-2008 reforms.
Brussels backs Romaniaโs drastic fiscal recovery plan
Bucharest avoids the nightmare scenario of losing EU financial support.
The EU is increasingly trading with dictators, ECB warns
Chinaโs rise and democratic backsliding in other countries are making a mockery of Europeโs efforts to spread its values through trade.
Spainโs Cuerpo drops out of Eurogroup presidency race
Paschal Donohoe is on track to get a third term.
The Spanish upstart who wants to shock the eurozone back to life
Eurozone countries shouldn’t wait for all EU27 members before driving financial integration forward, argues Spain’s economy minister.
EU frets over government meddling in Spanish, Italian banking mergers
Brussels wants bigger, more efficient banks to help restore Europe’s competitiveness. National capitals have other ideas.
Romania risks public blowback over push to slash EUโs highest deficit
The country faces having to cut 20 percent of civil service jobs while ramping up VAT and increasing excise duties. The government is in for a rough ride.
Defiant Bayrou wonโt concede defeat on pension reform talks
French prime minister says an “impressive” number of agreements have been reached on tweaking pensions without putting the system further in the red.
France to cut extra โฌ4.7B in spending this year as debt hits new record
Government says new spending cuts are required to keep budget deficit down.
Summit set to show how far the EU is from seizing the โglobal euro momentโ
European Council President Antรณnio Costa wants to discuss international role for euro but divisions over large-scale joint borrowing are as wide as ever.
French PM under fire as pensions โconclaveโ concludes without agreement
Socialists could soon turn on Franรงois Bayrou if no progress is made on retirement reform.
French pension โconclaveโ faces make-or-break moment
The prime minister’s effort to find common ground on retirement reform has a Monday deadline.
Putin warns his officials not to allow recession
The Russian leader said a recession “is not to be allowed under any circumstances,โ during the St. Petersburg International Economic Forum.
Top Bulgarian official says heโll intervene to stop food price spikes before eurozone entry
Pro-euro politicians are accusing the national tax agency of creating unnecessary panic about grocery costs.
Europeโs central banks are all cutting rates, even as tariffs tie the Fedโs hands
And it’s driving Trump mad.
Has Bulgaria gamed its inflation numbers to qualify for the euro?
An 82.8 percent plunge in state-set hospital fees helped Sofia make the grade to join the single currency.
UK inflation slowed less than expected in May
The numbers will be a disappointment to Chancellor Rachel Reeves.
EU resurrects banking practice that caused the 2008 financial crisis
Securitization allows banks to repackage and resell debt, famously explained by actress Margot Robbie in a bubble bath in the film “The Big Short.”
Bulgaria wonโt โdo a Greeceโ when it joins eurozone, central bank chief promises
Dimitar Radev, the governor of the Bulgarian National Bank, says national authorities must align and adapt to wider eurozone conditions.
ECBโs Lagarde gently urges China to change its ways
Central bank president used a speech in Beijing to stress China and the U.S. must share the burden of closing the massive trade gap threatening the global economy.
Lagarde insists sheโll complete her term at ECB
Central bank chief squashes talk of an early exit to go and run the Davos World Economic Forum.
ECB cuts again as it heads into an uncertain future
The central bank expects big spending programs at home to offset weaker demand for eurozone exports.
EU clears Bulgaria to adopt euro in 2026
Sofia gets the green light despite rule-of-law and money-laundering concerns.
As Bulgaria prepares to join the euro, Poland couldnโt be less interested
The election of a Euroskeptic populist as Poland’s president means Europe’s great economic success story will show even less interest in joining the eurozone.
Trump administration prepares to ease big bank rules
The proposal would represent the latest policy win for the banking industry, which has been closely scrutinized since the 2008 global financial meltdown.
Cooling May inflation paves way for ECB rate cut
Soft inflation numbers for May from the eurozoneโs biggest countries have made an interest rate cut next week from the European Central Bank all but a sure thing. Italy, Spain and Germany all reported inflation either roughly at or below the ECBโs target of 2 percent in May, while France on Wednesday had reported its [โฆ]
Slovakian Governor Kaลพimรญr convicted of bribery in fresh embarrassment for ECB
Peter Kaลพimรญr, governor of the Slovakian central bank and a close ally of Prime Minister Robert Fico, was convicted of bribery on Thursday and fined โฌ200,000. Kaลพimรญr had been charged with offering โฌ48,000 in 2016 to Frantiลกek Imrecz, the former president of Slovakiaโs Financial Administration, to speed up tax proceedings for companies owned by his [โฆ]
Christine Lagarde discussed leaving ECB early to run Davos forum, founder says
Klaus Schwab says Europe’s top banker could take over the World Economic Forum by early 2027 “at the latest.”
EU to approve Bulgariaโs euro bid
The country could join the single currency on Jan. 1, 2026, even as local concerns over adoption persist.
France risks running out of cash for social spending, auditors say
Court of Auditors warned that a “liquidity crisis” could impact benefits payments as soon as 2027.
Nicuศor Dan starts nightmare new job as president of Romaniaย
Mondayโs inauguration comes at a critical time for the Eastern European nation of 19 million amid the threat of credit rating downgrades, a budget deficit crisis and a loss of faith in democracy.ย
French minister dials back suggestion to get rid of cash to fight drug dealing
Gรฉrald Darmanin said the government lacked the “political means” to take such drastic action.
Keep some cash under your mattress, says Dutch central bank
Keep โฌ70 per adult and โฌ30 per child in hard currency in case of emergencies, the Bank advised.
German economy set for zero growth thanks largely to Trump, government advisers say
The stagnation is fueled by the U.S. president’s tariff war, says German Council of Economic Experts.
UK inflation setback for Labour as โAwful Aprilโ hits households
The 3.5 percent rise was sharper than expected.
EU to Africa: No more free cash
The European Commission wants to strengthen the link between foreign aid and domestic priorities like energy and migration.
Can defense become Europeโs economic growth machine?
If the continent plays its cards right, the necessity of defense could turn out to be the mother of invention.
French crypto entrepreneurs promised extra security after violent kidnapping attempts
There have been at least three attempts to abduct crypto sector leaders or their family members since the start of the year in France.
Mark Carney mixes faith and foreign affairs in Rome
Canadaโs Catholic PM will attend Pope Leo XIVโs inaugural liturgy alongside global leaders โ and use the trip to prep for next monthโs G7 summit.
Is Germanyโs powerful finance minister in over his head?
Lars Klingbeil has rapidly risen to become one of his country’s most influential politicians. But the hard part is just beginning.
simultaneously holds the roles of SPD co-leader, vice chancellor and finance minister in the EUโs biggest economy.
Romaniaโs finances quake before historic vote
Economic malaise is helping nationalist presidential candidate George Simion.
UK economy grew 0.7 in Q1, but will slow again as trade war bites
The data only captures economic performance ahead of Donald’s Trump April 2 tariff package.
Violent crypto kidnapping cases prompt French interior minister to call emergency meeting
Bruno Retailleau will meet with entrepreneurs Friday after a particularly brazen incident on Tuesday was caught on camera.
Global trade rules must evolve to tackle persistent imbalances, says Bank of England boss
BoE governor says U.S. has a point on trade and calls for WTO reform and regulatory vigilance amid shifting global order.
Trump tariffs have little impact on prices so far, defying grim forecasts
Inflation climbed at the slowest pace since early 2021 in April, surprising economists who anticipated tariff-related increases.
ECBโs Schnabel says higher prices from tariffs could limit rate cuts
Eurozone central banker warns splurge on defence spending and impact of tariffs risk feeding inflation
Bank of England cuts rates as trade clouds start to lift
The Bank’s Monetary Policy Committee cited large and two-sided risks as it cut rates to 4.25 percent.
Ukraine considers shift from dollar to euro as global alliances realign
Ukraine is starting to consider a shift away from the US dollar, possibly linking its currency more closely to the euro, says central banker.
BoE ready to cut again as UK braces for trade war impact
Analysts expect the Bank Rate to be lowered to 4.25 percent.
Klingbeil, Pistorius, Bas โฆ German Social Democrats reveal ministers for Merz Cabinet
Germanyโs junior coalition partner hands key ministries to familiar faces โ and springs a few surprises.
French PM considering referendum on budget plans
โThe question is serious enough, with far-reaching consequences for the countryโs future, that it should be put directly to the people,” Bayrou tells Journal du Dimanche.
Eurozone inflation stuck at 2.2 percent in April
The numbers are unlikely to cause any dramatic change in thinking at the European Central Bank.
Global financial rule-makers risk losing relevance if Trump pulls back entirely
Without the firepower of the U.S., global regulators would be hamstrung in their efforts to contain a future financial crisis.
Germanyโs center-left leader will be finance minister in the Merz government
SPD chief Lars Klingbeil steps into Germanyโs most powerful ministry as his party joins a conservative-led coalition.
Eurozone economy grew faster than expected in Q1 in rush to get ahead of US tariffs
The eurozone economy outpaced expectations at the start of the year, thanks in part to exporters rushing out orders to get ahead of U.S. tariffs. Gross domestic product, the value of goods and services produced by an economy, grew 0.4 percent in the first quarter, Eurostat reported today, well ahead of analystsโ forecasts of 0.2 [โฆ]
Mediobanca rebels at Romeโs efforts to force it into a shotgun marriage
Counter-attack by Milan-based bank deals blow to plans for a ‘third pole’ in Italian banking.
Power cut leaves card users in the lurch in Spain, Portugal
Despite the dash for cash, Spain’s core settlement infrastructure continues to operate normally, says the Bank of Spain.
Trump trolls Canada on Election Day
As Canadians vote, the president revives โ51st stateโ rhetoric.
ECB favoritism has gone from bad to worse, staff say
Mario Draghiโs response to the problem a decade ago has backfired, new survey suggests.
Trudeau disappeared during Canadaโs election โ and his party was thrilled
His replacement, Liberal Leader Mark Carney, remotivated the base in an election campaign that was turned upside down by Donald Trump.
Merz announces first German Cabinet choices
Germany’s chancellor in waiting hands key ministries to CDU veterans and business figures, setting the tone for a more conservative, security-focused government.
Battle over top Italian insurer Generali pits oligarchs against Milan elite
A fight for control over a vast chunk of Italyโs debt pile tests Romeโs influence and could reshape the Italian financial system.
Italy harbors doubts about hitting 2 percent NATO target
Rome outwardly says it can easily reach politically unpopular defense spending targets without cutting vital services.
Europeโs debt set to surge again in new era of uncertainty, IMF warns
But the Fund gives its implicit backing to Chancellor Rachel Reevesโ plans to stabilize U.K. public finances.
Trump: โNo intentionโ of trying to fire Fedโs Powell
Trump has repeatedly called on the Fed to cut borrowing costs, which would help boost the economy ahead of a potential hit to growth from tariffs.
IMF slashes world growth forecasts due to trade war
The multilateral lender thinks the U.S. will be hurt more than either Europe or China by Donald Trump’s tariff blitz.
Commission livid as ECB warns of crypto apocalypse under Trump
Washingtonโs embrace of crypto may endanger the European financial system, but Frankfurt and Brussels are arguing over whether to rewrite a landmark law.
Trump hammers Federal Reserve chief Powell: โTermination cannot come fast enough!โ
U.S. president lashes his central bank nemesis for not cutting interest rates fast enough.
Spain and Lithuania push to oust Ireland from leading eurozone talks
Carlos Cuerpo and Rimantas ล adลพius are considering running for the Eurogroup presidency.
Trump tariffs โincrease riskโ of financial crisis, Germanyโs Merz warns
Germany’s incoming Chancellor wants zero tariffs on transatlantic trade.
Relief for Reeves as UK economy turns up in February
… assuming the numbers can be trusted.
Trump tariffs: What just happened โ and whatโs Europeโs gameplan?
It was a week when penguins, bonds, the new German coalition, Louisiana soybeans, fossil fuels, the EU’s Digital Markets Act, France’s creaking politics and American bourbon all became one news story. POLITICO explains what got us all yippy.
Friedrich Merzโs cabinet: Who will lead Germanyโs key ministries?
Here are the politicians most likely to occupy top posts in the next government.
Trumpโs tariffs war set to hit UK growth, warns Bank of England
But Breeden said the impact on inflation, and therefore the Bank’s interest-rate decision in May, is uncertain at this stage.
Facing Trump tariff threat, Germanyโs new government bets big on boosting economy
Friedrich Merz’s new administration promises tax cuts, energy price reductions and a blitz of public-private investment funds.
Germanyโs finance minister warns of recession risk due to Trump tariffs
Jรถrg Kukies says German exports to the U.S. will decline by 15 percent if tariffs remain in place.
EU agonizes over using its trade โbazookaโ to hit back at Trumpโs mega tariff
The bloc has an olive branch in one hand and its Anti-Coercion Instrument in the other as it prepares for a tough encounter with U.S. President Donald Trump.
Markets in free fall as Trump officials fail to banish fears of trade war escalation
U.S. president maintains hard-line tariff rhetoric.
Trump tariffs risk large euro-area โdemand shockโ, central banker warns
Greeceโs Yannis Stournaras says looming trade war will drag down both growth and inflation
Spain unveils โฌ14B aid plan to counteract Trump tariffs
The country’s economy stands to suffer losses of up to โฌ4.3 billion as a result of the levies this year.
Europe must pile pressure on Trump over tariffs, Germanyโs Habeck urges
Berlin’s economy minister talks of a pivot point in global trade โ and an opportunity for the continent to forge new alliances.
EU vows to retaliate against Trumpโs 20 percent tariffs
โWe are now preparing for further countermeasures,โ says European Commission President Ursula von der Leyen.
Trump hits Europe with 20 percent tariffs
European Union joins China, Japan, Taiwan and Korea in U.S. President Donald Trumpโs trade sin bin.
EU to bundle response to Trumpโs tariffs
Brussels is poised to retaliate after the U.S. president’s announcement, which is expected to contain double-digit American tariffs on all EU exports.
Trump tariffs should start โmarch to independenceโ for Europe, says ECB chief Lagarde
โI consider it a moment when we can decide together to take our destiny into our own hands,” says European Central Bank boss.
Whereโs the gold? Germanyโs conservatives sound the alarm over reserves in the US.
Germany keeps over โฌ100 billion worth of gold reserves in the New York Federal Reserve.
From welfare cuts to Trump tariffs: 7 takeaways from the UK spring statement
Social security cuts, a Whitehall squeeze โ and a (future) silver lining on growth. POLITICO sat through Rachel Reevesโ spring statement so you didnโt have to.
Spring statement: UK growth forecast halved in blow to Labour
Move piles pressure on Chancellor Rachel Reeves as she unveils her latest fiscal plan in the spring statement.ย
No Plan B? Labourโs Project Growth still isnโt paying off
UK Chancellor Rachel Reeves unveils her spring statement Wednesday against a gloomy backdrop โ and Labour MPs are getting twitchy.
Turkey scrambles to stop financial rout
Emergency measures as Ankara tries to stave off yet another financial crisis.
Europe eyes moment to challenge US dollarโs supremacy in age of Trump
Foreign investors may soon be looking for alternatives to the dollar.
Bank of England holds key rate as Trump trade war clouds inflation outlook
By contrast, the rest of Europe is eyeing an acceleration in growth, as Germany prepares to open its wallet to restore its infrastructure and its defense capabilities.
ECBโs Lagarde: EU needs to be ready for tariff โblackmailโ in age of Trump
The U.S. president’s escalating trade war looms over a key summit of European leaders in Brussels today.
ECBโs Lagarde: EU needs to be ready for tariff โblackmailโ in age of Trump
The U.S. president’s escalating trade war looms over a key summit of European leaders in Brussels today.
Ask not what the EU can do for markets โ but what markets can do for the EU
The push for a bigger EU private money pot has become a war of attrition. But Trump and Ukraine might be the spark that finally sets it in motion.
The Fedโs forecast on Trumpโs economy: Slower growth, higher inflation
The Fed chief said โa good partโ of a projection for higher prices is coming from tariffs.
German parliament passes historic spending reforms
The vote to unleash borrowing for the military and Ukraine is a “first major step towards a new European defense community,โ says incoming chancellor Friedrich Merz.