EU to keep Russia sanctions until next year

European Union leaders agreed on Thursday that economic sanctions imposed on Russia will stay in place until a Ukraine peace deal is fully implemented, effectively extending them to the end of the year if need be.

Countdown to missed opportunity for EU economy

(Reuters) - The countdown has begun to what threatens to be a missed opportunity to revive Europe's stalled economy.

European banking union? Don't hold your breath

BRUSSELS: In June last year, European Union leaders made a great fanfare of committing to 'banking union', a three-step plan to shore up the region's 8,000 banks and prevent a repeat of the debt and financial crisis.

European Union leaders meet as Spain bailout looms

BRUSSELS: Spain edged closer on Wednesday to asking for bailout aid after months of hesitation on the eve of a summit where European Union leaders aim to strengthen the bloc's shaky foundations.

European Commission Sets Sept. 11 to Propose New Bank Regulation

BRUSSELS — The European Commission on Friday set a target date of Sept. 11 to announce proposals to overhaul banking regulation in Europe, a key step in shoring up the euro zone against future crises.

EU Commission wants ECB to supervise all major euro banks

BERLIN: The European Commission will propose next month giving the European Central Bank supervision over all of the euro zone's major banks, Handelsblatt daily reported on Friday, citing Commission sources.

Europe's stability mechanism remains elusive

NEW YORK (CNNMoney) -- Europe has a lot riding on its latest tool to stabilize the euro currency union, but there are now more questions than answers about the European Stability Mechanism.

Europe's slump deepens; US, China lose momentum

LONDON: The shadows being cast over the global economy darkened this month as the euro zone's private sector declined further and China's once-booming factories faltered, business surveys showed on Thursday.