The eurozone is struggling to revive itself, and may slip into recession in the next two years, slowing down the global economic recovery, according to the French Economic Observatory (OFCE). EurActiv.fr reports.
Every morning, hundreds of traders pour into a cheap wholesale market in a northern suburb of Bucharest. But if the tax inspector calls, the bustle stops, shutters are quickly pulled down and the place falls silent.
The European Commission provisionally accepted the budgets of France and Italy, saying on Tuesday (28 October) that no eurozone states had submitted deficit plans for next year that seriously breached EU stability rules.
Günther Oettinger, the EU's incoming Digital Commissioner, has announced plans to reform existing copyright laws within one year, indicating the likely addition of an EU "Google-tax", similar to that applicable in Germany. EurActiv.de reports.
Lending to eurozone households and companies contracted at a slower pace in September, and money supply grew faster than expected, suggesting that a cycle of tightening credit conditions in the bloc is gradually coming to an end.