Greek economy surprises, returns to growth in second quarter

Greece's economy unexpectedly returned to growth in the second quarter despite political turmoil and the threat of a Greek euro zone exit, data showed on Thursday.

The EU budget: who pays what?

The joint budget of the 27 members of the European Union is 129 billion euros ($165 billion) this year. It is used to subsidize the European agricultural sector, structural and regional aid, and programs in the fields of science, research and culture as well as some industries.

Greece to get 381 million euros from mobile phone spectrum sale

(Reuters) - Greece will raise 381 million euros from the sale of mobile phone frequencies to its biggest telecom operator OTE (OTEr.AT), Vodafone (VOD.L) and Wind Hellas, the minimum price set in the tender, its telecoms regulator said on Monday.

European Union cracks down on corporate tax avoidance scheme

BRUSSELS: The European Union is closing a loophole that allows companies to shift some of their profits between different country divisions to avoid taxation.

Greece eyes extension of rescue loans, more bond issues

(Reuters) - Greece will formally propose stretching the maturity of its international rescue loans from about 30 years to up to 50 as part of a push to make its debt sustainable, a senior Greek finance ministry official told Reuters on Wednesday.

EU sets out plans to free finance for investment

(Reuters) - The European Union will look for ways other than the region's banks to finance infrastructure projects and invest in start-up companies, according to plans the EU published on Thursday.

Germany's Schulz details plans for EU Commission presidency bid

(Reuters) - European Parliament President Martin Schulz, a leading candidate to become the next president of the European Commission, laid out his campaign proposals on Thursday, saying it was essential to restore citizens' trust in the European Union.

Independent Scotland May Find EU Entry Impossible, Barroso Says

An independent Scotland would find it “extremely difficult, if not impossible” to gain entry to the European Union, Jose Barroso, the European Commission president, said today.

Greek rescue fund worried stress test delays may deter investors

(Reuters) - Leaders of Greece's bank rescue fund are worried that lengthy talks with foreign creditors over a health check of the top four Greek banks may put off investors looking to take part in the privatization of one of the country's biggest lenders.

Greece will require no further aid after bailout exit: Antonis Samaras

ATHENS: Greece will exit its EU-IMF bailout agreement as scheduled in 2014 and will require no further loans, Prime Minister Antonis Samaras said today.

Euro needs ground-up reform before any United States of Europe

The European Union has earned its place as an instrument for peace in Europe. Free trade has brought prosperity to its peoples, and the freedom to choose a place of residence guards against the resurgence of totalitarian regimes.

Euro zone to share costs of bank closures gradually: Proposal

BRUSSELS: The cost of closing down a euro zone bank will initially be borne almost fully by its home country, but the obligations of euro zone partners will gradually rise to be shared equitably after 10 years, under the terms of an EU proposal seen by Reuters on Saturday.

Greece passes 2014 budget

ATHENS, Greece (AP) — Greek lawmakers passed the government’s 2014 budget, which forecasts a return to growth after six consecutive years of deep recession, early Sunday.

US, Europe resuming talks on new trade pact

BRUSSELS: The United States and the European Union, which already enjoy the world's biggest business relationship, are resuming talks on a deal to further grow two-way trade and investment.

Germany's trade surplus expands in September, rises to 18.9 billion euros

FRANKFURT: Germany's trade surplus expanded in September as imports fell and exports grew, rising to 18.9 billion euros in September from 15.8 billion in August, data published by the federal statistics office showed Friday.

Europe’s Slow Progress on Banking Reform

The European Union last week moved one step closer to establishing a banking union that could help address problems in its financial system.

Ireland says may not need financing backstop to exit bailout

DUBLIN: Ireland may exit its EU-IMF bailout without requesting a financing backstop from its European partners, its finance minister said on Saturday, a move that would block its access to European Central Bank bond-buying.

Euro-Zone Consumer Mood Continues to Lighten

Consumers in the 17 countries that share the euro continued to become less pessimistic in September, but with unemployment still close to record highs and wages growing more slowly than inflation, that is unlikely to herald a sharp pickup in spending.

French public debt to rise to 95.1 pct of GDP by end-2014: Report

PARIS: France's public sector debt will rise to 1.95 trillion euros by the end of 2014, or 95.1 percent of economic output, up from 93.4 percent of GDP this year, a media report said on Monday.

Trucks pile up at border of new EU member Croatia

(Reuters) - A day after Croatia joined the European Union, a glitch in its EU-standard customs software caused huge delays at the border with Serbia, the bloc's new external frontier.