The European Union on Monday suspended its sanctions against Myanmar for a year following a wave of widely praised political reforms in the country, but will retain an embargo on arms sales, officials said.
European Union nations are set to reward Myanmar for its "remarkable" reforms by suspending most sanctions Monday, a move opening the way to a potential trade and investment bonanza for Europe.EU foreign ministers meeting in Luxembourg are set to approve a one-year suspension of sanctions against almost 500 individuals and more than 800 firms, but keep an arms embargo in place.
YANGON (Reuters) - European firms seeking to invest in Myanmar are unlikely to rush into business deals until more concrete reforms are put in place, despite a suspension of economic sanctions by the EU, its foreign policy chief Catherine Ashton said on Saturday. The European Union and other powers have moved in recent weeks to ease sanctions on Myanmar, as the once pariah nation embarks on landmark reforms and seeks engagement with the world. ...
EU countries have agreed in principle to suspend all sanctions against Myanmar, with the exception of an arms embargo, for a 12-month period, European Union diplomats said Thursday.The 12-month extension "gives us time to assess the sustainability of reform", said a diplomat close to the talks.A formal announcement, which would include the possibility of reviewing the decision in six months, is expected at a meeting of European Union foreign ministers on Monday in Luxembourg.
Yangon (AFP) - US President Barack Obama arrived in Yangon on Friday to hold talks with Myanmar's democracy champion Aung San Suu Kyi, as the nation turns towards next year's elections with uncertainty over the direction of reforms.
Naypyidaw (Myanmar) (AFP) - US President Barack Obama told Myanmar's rulers its celebrated democratic reforms are backsliding, ahead of a regional summit Thursday designed to showcase the country's transition from army-led isolation.
Europe has been on the "verge" of a deal for two weeks. However, a deal is meaningless if Germany insists on budget controls. Actually a deal now is meaningless even if Germany does back down because at some point Greek politicians will have had enough. Here are the latest stories.
Yahoo! Finance reports Greece, creditors on verge of clinching debt deal
With GREXIT once again knocking on the Euro's door, Mario Draghi has come out swinging (or jawboning). As Reuters reports, the non-political, non-meddling, completely independent central bank chief explains, structural reforms were needed to "ensure that each country is better off permanently belonging to the euro area," adding that Euro zone countries must "complete" their monetary union by integrating economic policies further and working towards a capital markets union.