The eurozone needs a few mega banks that can compete on the world stage, and banks need a deposit insurance scheme, Daniele Nouy, the head of the European Central Bank’s supervisory board, said on Wednesday.
The euro slipped lower against the US dollar as a closely-watched measure of currency area inflation missed analysts' forecast in a reading that could have significant implications for US interest rates.
Eurozone house prices rose at the fastest pace in 11 years during the first three months of 2018, a development that is likely to reinforce the European Central Bank’s determination to end a key stimulus program in December.
Eurozone economic growth likely put in a decent performance in the second quarter with private businesses growing faster than expected in June, but trade worries knocked manufacturing growth to the weakest in 18 months, a private survey showed.
Eurozone governments have brokered a long-awaited debt relief deal for Greece, pushing back repayment deadlines on almost €100 billion of bailout loans as the country prepares to exit its era of financial rescue programs.