European Union

EIB approves 3 billion euros in loans to Europe's car industry

EIB approves 3 billion euros in loans to Europe's car industry Brussels - The European Investment Bank (EIB) on Thursday formally approved soft loans totalling 3 billion euros (3.84 billion dollars) to Europe's troubled car making industry.

This is the second instalment in a series of loans that are expected to total more than 7 billion euros by June, EIB officials said in a statement.

The money approved on Thursday will benefit a number of carmakers, including BMW, Daimler, Fiat, PSA Peugeot-Citroen, Renault, Volvo Cars, Scania and Volvo Trucks.

EU presidency calls new Middle East meeting in Brussels

EU presidency calls new Middle East meeting in Brussels Brussels  - The Czech presidency of the European Union said Wednesday it had invited officials from the Palestinian Authority, Egypt and Jordan to Brussels for a fresh round of talks on the Middle East.

The meeting, the third of its kind since the Gaza conflict broke out at the beginning of the year, is to take place on Sunday, March 15, officials said.

EU appalled by "senseless" German school shooting spree

EU appalled by "senseless" German school shooting spree Brussels  - European Commission President Jose Manuel Barroso on Wednesday described the shooting spree in a school in south-west Germany that has left at least 15 people dead as a "senseless" act of violence.

"We are appalled and saddened by the senseless violence that cut short so many lives and injured and traumatised many others," the head of the European Union's executive arm said in a statement.

EU cautions Israel against demolition of Palestinian homes

European Union FlagBrussels- European Union governments Wednesday cautioned Israel against demolishing some 90 buildings in East Jerusalem, warning it would deprive more than 1,000 Palestinians of their homes.

"If implemented, the demolition would deprive more than 1,000 Palestinians of their homes and would be the largest destruction of Palestinian houses in East Jerusalem since 1967," the Czech presidency of the EU said in a statement issued on behalf of the bloc's 27 member states.

US hopes G20 summit can iron out differences with EU on economy

US hopes G20 summit can iron out differences with EU on economy Washington  - The White House on Tuesday said it hoped an upcoming economic summit would help the United States and European Union to resolve a growing rift over how to manage a deepening global recession.

Ahead of a Group of 20 (G20) summit of the world's leading economies in April, White House and EU officials have apparently been at odds over whether more government stimulus will be needed to pull their economies out of recession.

EU ready to bail out Romania, finance ministers say

EU ready to bail out Romania, finance ministers say Brussels  - The European Union is ready to bail out Romania, the latest European victim of the global credit crunch, the bloc's finance ministers said after a meeting in Brussels on Tuesday.

"In view of the adverse effects of the global financial turmoil on the economic and financial situation in Romania, the (EU's) Council Presidency and the Commission express the European Union's readiness to support Romania in avoiding risks of increasing market pressures and in achieving the orderly unwinding of imbalances," ministers said in a statement.

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