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European Union, Financial Timeline Monday, September 1     Author
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ECB set to mark 10 years   Germany: The European Central Bank celebrates its 10th birthday with its reputation of steadfast stance on interest rates and quick action to supply ... Income details posted on web  Italy: There has been outrage after the outgoing government published every Italian's declared earnings and tax contributions on the internet Bank of England to detail £50bn plan. London Bank £50bn mortgage rescue plan   London: The Bank of England will next week unveil a plan to swap government bonds for British banks' mortgages Bank shares plunge in market turmoil. United Kingdom Federal Reserve slashes rates by 0.75 EU leaders urge banks to reveal losses  EU leaders urged international banks to help calm markets by revealing recent losses. A report showing inflation in the euro area hit a new ... Second SocGen employee detained  Paris: A second Societe Generale employee has been arrested as part of the probe into a rogue trader scandal at the bank Central banks plan emergency cash

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  Obama links NATO troops to U.S. tax cuts


July 2008 ... more > Top ^

Jul.25
  Paris: Barack Obama said that persuading NATO allies to contribute more troops to Afghanistan could lead to U.S. troops cuts and help improve the economy



May 2008 ... more > Top ^

May.31
May.1


April 2008 ... more > Top ^

Apr.20
Apr.18


March 2008 ... more > Top ^

Mar.19
Mar.14
Mar.12
Mar.11
  The US Federal Reserve and the European Central Bank, have announced a latest round of co-ordinated auctions to provide extra liquidity


February 2008 ... more > Top ^

Feb.27 Dollar hits record low against euro Feb.18 More raids in tax fraud scandal. Hamburg Feb.15 Deutsche Postbank posts 39% loss  Berlin: The bank saw profit drop in the 4th quarter over the previous year, but the German bank said it escaped the worst of the subprime fallout Bosses 'condoned' SocGen trader. Paris

January 2008 ... more > Top ^

Jan.29 Paris to 'block any Societe bids'
Jan.28 Trader 'concealed deals'  Paris: Jerome Kerviel told police he hid his actions to appear like an 'exceptional trader' and to boost his annual bonus Jan.27 Trader 'staked 50bn euros'   Paris: Jerome Kerviel, 31, at the centre of a massive fraud case, had gambled around 50bn euros before being uncovered Jan.24 Rogue trader to cost SocGen $7bn
  Paris: Bank Societe Generale as uncovered 'massive' fraud by a trader which resulted in a loss of 4.9bn euros


year 2007 Top ^

Dec.18 ECB lends $500bn to lower rates   The European Central Bank has allocated 348.7bn euros to banks at a below-market rate in a refinancing move to ease tightened credit markets Dec.12 UK welcomes world cash injection   London: Prime Minister Brown has welcomed a joint plan by the US Federal Reserve and other central banks to help ease strains in financial markets Central banks act on credit fears
   Washington: The Federal Reserve, European Central Bank and central banks from the UK, Canada and Switzerland are to jointly help banks Nov.20 Bank data of 25 millions missing   London: Tax and customs service lost banking and personal data when 2 computer disks disappeared in an internal mail service Nov.19 Fish dumping 'will ruin industry'. United Kingdom Sep.20 Bank chief defends role in crisis. London Opera legend Pavarotti dies at 71 Aug.10 Central banks pour money into system
   London: The U.S. Federal Reserve and European Central Bank pumped money into the banking system for a second day to ward off a global credit crisis Bulk buy ban amid frenzy

year 2005 Top ^

Dec.16 EU leaders agree 7-year budget
  Belgium: The leaders agreed on a spending plan for the bloc seen as key to shaping the future of an enlarged EU UK making final EU budget offer. Belgium Dec.1 ECB ignores fears to raise rates China scraps yuan peg to dollar Jun.16 EU heading for budget collision. Belgium Jun.11 G8 ministers back Africa debt deal
   London: Finance ministers have agreed to cancel up to $55 billion worth of debt owed by the world's poorest nations
Jun.10 Hopes raised of Africa debt deal. England Feb.5 G7 backs Africa debt relief plan. England Jan.12 Creditors back tsunami debt relief. France

year 2004 Top ^

Battered dollar hits another low
Apr.16 Bundesbank boss resigns. Germany Mar.31 Afghanistan wins $8.2bn in aid  Berlin: International donors have pledged $4.4 billion in new aid to Afghanistan for 2005

year 2003 Top ^

Dec.16 Joint plan to relieve Iraq debt
  Germany: The U.S., France and Germany have agreed on a plan to provide the Iraqi government with 'substantial' debt relief Sep.14   Voters rejects euro currency  Sweden: Sweden has rejected a proposal to join the euro currency dealing a blow to business and government Bush to ask 87 billions more for Iraq


year 2002 Top ^

Dec.12 EU deal on funding enlargement Jan.1   Euro mark celebrations
  People lined up in freezing temperatures to get a jump on the most ambitious currency swap in history
 The euro was introduced to world financial markets as an accounting currency in 1999 and launched as physical coins and banknotes in 2002. The official spelling of the euro is 'euro' in the Latin script. The euro is divided into 100 cents


year 2001 Top ^

Dec.14 Euro coins go on sale Aug.30 Euro officially launched

year 2000 Top ^

Sep.28   Denmark rejects euro
  53.1% of voters rejected membership of the single European currency, and 46.9 % voted in favour



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