In-depth news, commentary and analysis of the bloc’s fragile economic recovery as it attempts to regain competitiveness in the wake of the sovereign debt crisis and its struggles with austerity

Draghi defends ECB’s ultra-low rates

Central bank chief fights back against German criticism

Comment and analysis

Jonathan McHugh illustration ©Jonathan McHugh
As the risk of Brexit increases, so too does the threat of Europe’s fragmentation
A woman takes money from one Unicredit bank cash dispenser in downtown Rome on May 15, 2012. Moody's slashed its credit ratings by up to four notches for 26 Italian banks on May 14, including UniCredit and Intesa Sanpaolo, citing their vulnerability to Italy's recession and more trouble in the eurozone." AFP PHOTO / VINCENZO PINTO (Photo credit should read VINCENZO PINTO/AFP/GettyImages) ©AFP
The lack of any long-term solution means the problem has not gone away
The European Central Bank (ECB) headquarters are pictured in Frankfurt, Germany, September 3, 2015. The European Central Bank said on Thursday it was holding its 60 billion euro a month asset purchase limit unchanged but raised the amount of any one issue it could buy to 33 percent from 25 percent. REUTERS/Ralph Orlowski - RTX1QX2B ©Reuters
In a monetary union, no government is supposed to question the independence of the central bank
– Wolfgang Münchau

Spain poised to breach deficit targets

Shortfall of more than 3% will break threshold set by Brussels

Italy bank plan sets up bankruptcy fight

Bankers urge Renzi to bring laws in line with European norms

Italy agrees €5bn fund to rescue lenders

Move aims to calm concerns over stability of banking sector

Italy bank rescue plan watched closely by EU

Rome faces rules over public backing

Italy pushes for bank rescue fund

Padoan calls meeting to agree ‘last resort’ bailout plan

ECB minutes reveal stimulus divisions

Concerns raised over auction incentives and corporate bonds

Debt tide turns again for Portugal

Novo Banco crisis helps sour sentiment towards the country

Lagarde dismisses Greek default claim

Content of leaked transcript prompts anger in Athens

Spain’s economic recovery powers ahead

Country again set to be one of eurozone’s fastest-growing nations

Eurozone prices continue to fall

Headline inflation in currency bloc edges up to minus 0.1%

Spain deficit fight suffers setback

Madrid blames overspending by regional authorities for budget gap

France trims budget deficit

Positive development tarnished by rise in jobless figures

Bond investors look to eurozone periphery

Analysts eye returns of 5% from Spanish and Italian debt markets

Warning on Italian corporate ‘asphyxia’

Gianfelice Rocca says austerity push could put euro exit on agenda

Eurozone credit markets consolidate

Some question further gains after narrowing of risk premiums

ECB cuts rates to new low and lifts QE

Euro rises as Draghi plays down prospects of further easing

ECB flexes muscles to silence the doubters

Draghi hopes to quash scepticism over effect of policies on wider economy

Eurozone credit market rises on ECB policy

Central bank’s quantitative easing package to include corporate bonds under €80bn monthly purchases

Draghi out to show he has right ammunition

ECB president must convince sceptics he can raise inflation

Euro turbulent ahead of expected ECB easing

Investors short currency in anticipation of more QE from Draghi

Senior bankers voice fears over ECB cut

Comments come as central bank policymakers consider cutting rates

ECB announcement: what to expect

Traders have been shorting the euro against the dollar

Draghi’s bazooka fails to turn eurozone tide

The ECB’s economic armoury is running low

Cyprus lauded on exit from €10bn bailout

EU and IMF hail success story as island survives tough reforms to return to growth