European debt crisis

Greek Lawmakers Approve New Budget - with More Austerity

Greek lawmakers approved the heavily indebted country's budget for 2019 late Tuesday, the first since Greece exited an eight-year bailout program.

The budget lawmakers passed with a 154-143 vote still is heavy on austerity measures to ensure Greece registers a hefty surplus, in compliance with its debt relief deal with international creditors.

Emergency central bank funding to Greek banks falls in November

Emergency central bank funding to Greek banks dropped in November compared to the previous month, Bank of Greece data showed on Wednesday.

Emergency funding, which is more costly than borrowing from the European Central Bank, dropped to 2.7 billion euros ($3.06 billion) from 3.58 billion euros at the end of October, the data showed.

EU Finance Ministers Reach Eurozone Reform Deal

EU finance ministers agreed reforms to better fight against a financial crisis on Tuesday that fell short of the original ambitions to relaunch Europe by French President Emmanuel Macron.

The agreement between the EU's 27 finance ministers, without Britain, is intended to hand authorities a more powerful tool box in the event of a major shock to the European economy.

Eurozone to make public debt restructuring easier by 2022

Eurozone finance ministers agreed to introduce by 2022 new rules that would facilitate the restructuring of public debt in the bloc's countries, the chairman of the Eurogroup Mario Centeno said on Tuesday.

New rules on so-called single limb Collective Action Clauses will be introduced by 2022, Centeno said after a meeting of eurozone finance ministers in Brussels. [Reuters]

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