European Union

Euro-zone leaders set to meet on finance crisis

Euro-zone leaders set to meet on finance crisis Paris - The leaders of the 15 nations using the euro as a single currency are to meet later Sunday in Paris to discuss common responses to the finance crisis.

As the crisis has spread from the United States, European nations have largely acted unilaterally to contain the damage.

Britain has undertaken a 60-billion-euro (80-billion-dollar) plan to partly nationalize four large banks, Ireland has guaranteed deposits in its six largest banks and other countries have acted on a case-by-case basis to bail-out struggling banks.

Eurozone leaders to meet for crisis summit Sunday

Eurozone leaders to meet for crisis summit Sunday Pari

Estonia maintains support for Turkish EU bid

Estonia maintains support for Turkish EU bid Riga/Tallinn - Estonian president Toomas Hendrik Ilves gave his full backing to Turkish membership of the European Union on Friday during a state visit by his Turkish counterpart, Abdullah Gul.

Speaking in the elegant surroundings of Kadriorg Palace in the Estonian capital, Tallinn, Ilves described Turkey as "a firm ally of Europe" and affirmed that Estonia continues to support Turkey's ongoing bid for full EU membership.

EU approves Danish financial rescue plan

EU approves Danish financial rescue planBrussels - The European Union on Friday approved a Danish plan for restoring confidence to the country's financial sector, saying that it was the "most appropriate" response.

"The scheme would provide liquidity facilities for banks operating in Denmark and protect depositors and ordinary creditors in case of insolvency," the EU's executive body, the European Commission, said in a statement.

EU deadlocked over re-starting Russia talks despite pull-out

European UnionBrussels - The European Union was deadlocked on Friday over whether or not to re-start talks with Russia over a strategic partnership that it froze on September 1, despite Russia's troop withdrawal from Georgia, diplomats admitted.

EU foreign ministers are set to meet on Monday in Luxembourg for the first formal debate on relations with Russia since the EU's leaders on September 1 vowed to freeze talks on the strategic deal.

EU agrees on new rules for gas, energy markets

gas, energy markets Luxembourg - European Union energy ministers on Friday agreed to new rules for its gas and electricity markets after a long and heated debate, diplomats said.

The deal brings to an end a year of bitter wrangling between member states after the EU's executive, the European Commission, proposed laws aimed at increasing competition in the bloc's energy market.

The most hotly-debated idea was a proposal to force companies which both produce and transport energy to give up their control of transport systems - a process known as "unbundling."

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