The euro - the EU single currency

Latest news about the European Union's single currency.

Pound is all ears ahead of Johnson announcement - Euro currency news daily

As the pound finds itself in the position of the market's best performing currency year-to-date, attention will well and truly shift to Prime Minister Johnson's announcement this evening regarding the next steps in the UK lockdown.

EU prepares for end of LIBOR financial benchmark

The European Parliament and EU Council reached provisional agreement Tuesday on key amendments to EU rules on financial benchmarks, in preparation for the end of LIBOR on December 31 2021.

Banking rules revised to help COVID recovery

The EU agreed to temporarily adapt its banking rules Wednesday in order to maximise the capacity of banks to lend money and support households and businesses to recover from the COVID-19 crisis.

Euro candidates still to meet EU convergence demands

The European Commission published the 2020 convergence report Wednesday, in which it provides its assessment of the progress non-euro area Member States have made towards adopting the euro.

Convergence report reviews Member States' progress towards joining euro area

The European Commission published on 10 June the 2020 convergence report in which it provides its assessment of the progress non-euro area Member States have made towards adopting the euro.

Coronavirus: banking package to facilitate bank lending

A new banking package, adopted Tuesday by the EU Commission, aims to ensure that banks can continue to lend money to support the economy and help mitigate the economic impact of the coronavirus.

Coronavirus: Banking Package to facilitate bank lending

The European Commission adopted on 28 April a banking package to help facilitate bank lending to households and businesses throughout the European Union.

New EU cross-border payments rules into force

Consumers and businesses in non-eurozone EU Member States will enjoy cheaper cross-border payments in euro from Monday, as new rules came into force pricing these the same as domestic payments.

ECB models need to include climate change, says Lagarde

Climate change should be included in the European Central Bank's macroeconomic models, ECB chief Christine Lagarde said Monday in her first appearance at the European Parliament in her new role.

Brussels consults on implementation of Basel III reforms

The EU Commission has launched a public consultation on implementation of the Basel III standards - the reforms to improve the regulation, supervision and risk management in the banking sector.

New rules for online shopping in EU take effect

New EU rules on online shopping, which came into force on Saturday 14 September, should make it easier and safer for consumers to pay for goods and services online and to manage their personal finances.

Safer, easier electronic payments and online banking

New EU rules apply as of 14 September 2019 that will make it easier and safer for consumers to pay for goods and services online and to manage their personal finances.

EU support programme helps Greece towards financial stability

Greece has shown steady recovery since it successfully concluded its European Stability Mechanism support programme to restore financial stability and promote growth and job creation, the EU said Tuesday.

EU bank stress test too feeble: auditors

The latest bank stress test by the European Banking Authority should have been more demanding in testing banks' resilience to systemic risks across the EU, the EU Court of Auditors said on Wednesday.

Euro drop hits cost of living for Europeans in USA

Europe now accounts for less than a fifth (19 per cent) of the world’s most expensive cities, with 11 European cities dropping out of the top 100, according to ECA International's latest Cost of Living report.

Banks fined over EUR 1bn for foreign exchange cartel

The EU Commission fined five banks - Barclays, RBS, Citigroup, JPMorgan and MUFG - EUR 1.07 billion Thursday for taking part in two cartels in the Spot Foreign Exchange market for 11 currencies.

ECB must allow full scrutiny of banking supervision: EU auditors

The European Court of Auditors called Monday on EU legislators to intervene and ensure the European Central Bank allows full access to documents for audits related to banking supervision.

EU's single currency turns 20 years old

The euro, Europe's common currency, turned 20 on 1 January 2019. 11 EU states launched the euro in January 1999, introducing a shared monetary policy under the European Central Bank.

#EUROat20

20 years ago, on 1 January 1999, 11 EU countries fixed their exchange rates, adopted a shared monetary policy under the European Central Bank, and launched a new common currency on world financial markets: the euro. Three years later, euro notes and coins entered into circulation. Today, the euro is the currency of 19 EU countries, over 340 million EU citizens and the second most important currency in the world.

Brussels seeks stronger global role for euro

The EU Commission put forward a number of initiatives Wednesday to boost the global role of the single currency, seeking to challenge the dollar's global dominance, particularly in the energy sector.

Third Progress Report on risk reduction and the declining trends as regards non-performing loans

The European Commission reported on 28 November for the third time on the progress achieved on risk reduction efforts.

EU states ease rules for dealing with bad loans

EU Member States agreed a softer position Wednesday on capital requirements applying to banks with non-performing loans (NPLs) on their balance sheets, in preparation for talks with the EU Parliament.

Non-performing loans (NPLs)

EU and national authorities are joining forces to address the risks related to high stocks of NPLs in Europe. Non-performing loans, or “NPLs”, are bank loans that are subject to late repayment or are unlikely to be repaid by the borrower.

European banks offer fees transparency from 31 Oct

New EU rules for banks and financial services providers, in force from 31 October, require them to be more transparent and open about the fees they charge related to opening and maintaining bank accounts.

Access to bank accounts

EU rules allow consumers to open and change bank accounts anywhere in the EU. The directive on payment accounts gives people in the EU the right to a basic payment account regardless of a person's place of residence or financial situation. The directive also improves the transparency of bank account fees and makes it easier to switch banks.