Economic governance

23-05-2017

Moscovici: Italy, Portugal, Spain fiscal progress ‘good news’

Portugal, Italy and Spain became yesterday (22 May) illustrative examples of the new period Europe enjoys. The executive congratulated Lisbon and Madrid for turning their economies upside down, just one year after they became the first countries that breached the fiscal rules, while it gave its blessing to Rome’s adjustments, one of the eurozone’s troublemakers.

Economy & Jobs 19-05-2017

Greek parliament approves more austerity to unlock bailout funds, debt relief

Greek lawmakers on Thursday (18 May) approved pension cuts and tax hikes sought by the country's lenders to unlock vital financial aid, as angry demonstrators protested outside parliament over new austerity, the latest since the country plunged into crisis seven years ago.

Economy & Jobs 16-05-2017

Spain calls for deeper eurozone integration, pooled debt

Spain's conservative government has added its voice to calls for deeper integration in the eurozone, suggesting to Brussels in a paper that members of the bloc should pool some aspects of their debt management and share a budget to fight crisis shocks.

Economy & Jobs 10-05-2017

German parties joust over Macron’s euro plans

After cheering Emmanuel Macron's win over his far-right rival in the French presidential election, a row has broken out within German Chancellor Angela Merkel's coalition government over how to respond to his calls for closer European integration.

Economy & Jobs 09-05-2017

Macron win bolsters European moves on globalisation, eurozone

The European Commission will consider additional actions to defend European investment abroad and will call for high level of social protection to minimise the negative consequences of global trade.

08-05-2017

Juncker warns Macron French spend too much money

European Commission chief Jean-Claude Juncker on Monday (8 May) called on France's incoming president Emmanuel Macron to cut public spending, saying its current policies involved too much money going to wrong things.

05-05-2017

Eurozone to mull Greek debt relief once reforms take place

Eurozone governments will consider medium-term debt relief for Greece as promised in a statement in May 2016 once Athens implements the reforms it agreed to earlier this week, a eurozone official said on Thursday (4 May).

Economy & Jobs 04-05-2017

EU declares Brexit battle over euro clearing

The EU fired a fresh salvo at the UK on Thursday (4 May), proposing fresh rules that would require a huge slice of London's banking business to leave the UK after Brexit.

Economy & Jobs 02-05-2017

IMF says EU still needs ‘credible’ debt relief for Greece

Despite an agreement reached Tuesday (2 May) on a reform package, Europe still needs to provide "credible" debt relief to Greece before the International Monetary Fund can provide more financing, an IMF official said.

Economy & Jobs 26-04-2017

Greece calls for debt relief as bailout talks resume in Athens

Greece's prime minister held out for a commitment from lenders to debt relief on Tuesday (25 April), and said he was confident new talks in Athens over a long-stalled bailout review would reach a deal by a 22 May target.

Elections 25-04-2017

Rome, Athens look to Macron to help douse anti-EU fires

The Italian and Greek governments are counting on France's likely next president Emmanuel Macron to help them see off populist parties that blame European Union-enforced austerity and open immigration policies for economic and social ills.

19-04-2017

Austria misses EU’s structural deficit target

Austria's structural deficit last year was slightly larger than the government had forecast, overstepping the limit of roughly 0.5% of gross domestic product (GDP) sought under European Union rules.

Elections 12-04-2017

‘Chancellor Schulz’ will maintain austerity, won’t rule out Grexit

Martin Schulz will not change Germany's approach to austerity if elected chancellor later this year. Neither has he ruled out Greece leaving the eurozone if reforms are not implemented. EURACTIV Germany reports.The Social Democrat leader and former European Parliament president told the Financial Times that the prospect of Greece leaving the single currency …

11-04-2017

ECB hails 2016 as best post-crisis year

The European Central Bank judged yesterday (10 April) that it had a successful 2016, claiming in its annual report that it had nurtured economic recovery and that it was the eurozone’s most successful post-crisis year.

Brexit 30-03-2017

Luxembourg stakes claim for EU banking body post-Brexit

Luxembourg has claimed the legal right to host the London-based European Banking Authority after Brexit, a government spokeswoman said today (30 March).

28-03-2017

ECB needs greater democratic oversight, TI says

The European Central Bank needs greater oversight and more accountability, as it has strayed into the realm of political decision-making but without the necessary scrutiny, global watchdog Transparency International said in a report on Tuesday(28 March).

23-03-2017

Indignation grows over Eurogroup chief’s ‘drinks and women’ remarks

Eurogroup chief Jeroen Dijsselbloem on Wednesday (22 March) expressed "regret" over his comments that southern European countries blew their money on "drinks and women" but rejected calls to resign, despite a growing chorus of indignation.

23-03-2017

Italy to stretch EU rules again with new bank bailout

Italy's plans to bail out two regional banks pose a dilemma for European regulators, who are still considering whether Monte dei Paschi qualifies for state aid, three months after giving a preliminary green light.

Economy & Jobs 22-03-2017

Romania runs out of money to co-finance EU projects

Romania’s regional development minister has told the nation’s mayors that there is no more money left for co-financing European projects, since the limit has already been reached and the country tries to keep its deficit under 3%. EURACTIV Romania reports.

21-03-2017

Dijsselbloem to open debate on his future as Eurogroup chief

Acting Dutch Finance Minister Jeroen Dijsselbloem said yesterday (20 March) that he would have a discussion with his eurozone colleagues about his continuation as Eurogroup president, following the electoral debacle of his party in The Netherlands.

Opinion leaders identify seven pillars for ‘better’ EU action

CIVICO-Europa, an informal group set up by opinion leaders and later supported by politicians, presented today (20 March) a manifesto for the future of Europe, based on “doing much better together”, rather than the traditional way of “doing more”.

Economy & Jobs 20-03-2017

Eurozone chief backs German calls for ‘a European IMF’

The European Stability Mechanism (ESM) – the eurozone's bailout fund – should ultimately be turned into a European version of the International Monetary Fund IMF, according to the head of eurozone finance ministers.

17-03-2017

Dutch vote throws Eurogroup leadership into doubt

Jeroen Dijsselbloem could well lose his role as chair of the EU body coordinating eurozone policy after his party was routed in the Dutch election. But there is a chance he could retain his position even if he is no longer finance minister in a new coalition.

14-03-2017

French economist: ‘German trade surplus responsible for eurozone inequity’

The economic imbalances of the eurozone are undermining citizens’ confidence in the European project. Cutting Germany’s trade surplus could help redress the balance, Jérôme Creel said in an interview with EURACTIV France.