Vitor Gaspar

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People wearing face masks to prevent the spread of Covid-19 on a bus in Milan on Wednesday. The IMF said borrowing costs were crucial for advanced economies. Photograph: AP

Most advanced economies that can borrow freely will not need to plan for austerity to restore the health of their public finances after the coronaviru(...)

European Union member states should adopt a common position on corporation tax in the current debate on changing global tax rules, according to a high(...)

Euro zone authorities have been quick to characterise the Irish exit story as a victory for the euro zone response to the crisis. Photograph: Brian Lawless/PA Wire

Ireland’s decision to return to full private market funding without the help of a precautionary credit line dominated debate in Brussels this week, as(...)

Dutch finance minister Jeroen Dijsselbloem (left), chairing yesterday’s meeting, said payments may be broken up if creditors deemed it “necessary” and “helpful”. Photograph: Reuters/Francois Lenoir

Euro area finance ministers debated whether to pay Greece’s next €8.1 billion bailout tranche at once or in instalments – to ensure reform commitments(...)

Minister for Finance Michael Noonan and Spain’s economy minister Luis de Guindos (R) attend a euro zone finance ministers meeting in Brussels today. Photograph: Francois Lenoir/Reuters.

Greece lumbered toward its next aid payout, possibly broken up into smaller installments and tied to additional economic reforms by prime minister Ant(...)

German finance minister Wolfgang Schaüble has dismissed fears that the euro zone crisis might be starting up again amid political turmoil in Portugal and pressure on Greece. Photograph: Fabrizio Bensch/Reuters.

German finance minister Wolfgang Schaüble has dismissed fears that the euro zone crisis might be starting up again amid political turmoil in Portugal (...)

A street vendor selling Portuguese national flags on Rossio Plaza in Lisbon. There were fears the political turmoil could jeopardise the country’s bailout programme. Photographer: Mario Proenca/Bloomberg

Portuguese prime minister Pedro Passos Coelho has been desperately trying to keep his centre-right government afloat this week, in the knowledge that (...)

Greece is required to move 12,500 civil servants into a “mobility scheme”, which would require workers to be either transferred or dismissed within a year, but the government has consistently said it needs more time.    Photograph: Yorgos Karahalis/Reuters

Negotiations between Greek authorities and the troika of EU/ECB/IMF lenders intensified yesterday in Athens on cuts to the public sector workforce, as(...)

Lisbon resignations

Fears that Portugal will not be able to leave its €78 billion bailout next year without another tranche of international help, and that it may be forc(...)

Portugal’s foreign minister Paulo Portas has resigned in the second high-profile government resignation in two days. Photograph: Jose Manuel Ribeiro/Reuters

Portugal’s coalition government was thrown into turmoil yesterday after foreign minister Paulo Portas resigned due to a disagreement with the prime mi(...)

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