The new European Fiscal Board began working just as the European Commission took the unprecedented step of proposing a fiscal target for the eurozone. The Board’s chief, Niels Thygesen told EurActiv.com that the Commission should have done “more analysis” before proposing an expansionist stance.
A quarter of a century after the summit in the Dutch town of Maastricht that gave birth to the euro, the EU will mark the anniversary today (9 December) with little fanfare as it battles a wave of crises.
Greece thanked creditors for modest debt relief on St Nicholas Day in Brussels but did not hide disappointment it won't get the Christmas gift it wants – a pass on the latest phase of its bailout programme.
Eurozone finance ministers on Monday approved new debt relief measures to alleviate Greece's colossal debt mountain in the wake of its huge €86 billion bailout, but at levels far short of those demanded by the IMF.
Some eurozone members have expressed their willingness to invest more but did not take on board the executive’s proposal for a common positive fiscal stance to boost the bloc’s recovery, at a Eurogroup meeting held today (5 December).
Eurozone finance ministers hope to reach a compromise on Greek reforms on Monday (5 December) in a final bid to get International Monetary Fund support for its bailout programme by the end of the year.
The centre-right candidate for next year's French presidential election presents himself as a defender of French sovereignty who wants to limit the powers of the European Commission. But he also supports further European integration in some areas. EurActiv France reports.
The profitability of European banks, weak inflation and the recovery's dependence on accommodating monetary policy are the three immediate risks facing the Eurozone, Mario Draghi has said. EurActiv’s partner Milano Finanza reports.
The European Commission stepped up its efforts to leave austerity behind on Wednesday (16 November) by advocating for the first time a timid expansionary fiscal policy for the eurozone and forgiving Spain and Portugal for breaching EU budget rules.
The EU’s cohesion policy, which aims at closing the development gap between rich and poor regions, has succeeded in boosting local growth although many people aren't aware of it, professor John Bachtler said in an interview with EurActiv Greece.
Eurogroup head Jeroen Dijsselbloem and German Finance Minister Wolfgang Schäuble, in a move likely to anger Athens and the IMF, warned yesterday (7 November) it would be impossible to draw up fresh debt relief for Greece by year's end.
EU officials in Brussels welcomed the confirmation of Luis de Guindos as Spain's economic affairs minister for a second term. The man is considered as an “extremely able” envoy of the Madrid government.
Almost three-quarters of British bankers believe London will still be the financial centre of Europe in five years' time, despite risks surrounding Brexit, according to a study published Wednesday (2 November).
When conservative political survivor Mariano Rajoy takes control of Spain once again this week he will be faced with unprecedented opposition as he grapples with painful economic reforms and resurgent Catalan separatism.
The European Commission yesterday (25 October) demanded "clarifications" from seven eurozone countries over their draft budgets, expressing particular concern that Italy, Cyprus and Finland are not meeting EU targets.