Jorge Valero
Bruegel’s Darvas: ‘We need much higher carbon prices in Europe’
In a paper discussed by EU finance ministers on 11 September, Bruegel think tank made the case for protecting green investment as part of the upcoming Stability and Growth Pact review. Bruegel’s Zsolt Darvas, one of the report's authors, told EURACTIV that most of the investment needed to reduce CO2 emissions would come from private sources.
EU warns of deep divisions at WTO, urges reform
The EU pressed the US Administration to agree on the reform of the World Trade Organisation’s dispute settlement system amid deep divisions running through the institution.
EU states dedicate €150 billion of recovery funds to social spending
EU governments will spend around €150 billion of the recovery fund in social objetives, with half of this money allocated to education and health, according to European Commission’s preliminary figures.
Commission hints at quick fix of fiscal rules in 2022
The European Commission said on Friday (10 September) that it will explore options to improve the Stability and Growth Pact by the end of next year, as member states are preparing for a bruising battle over the reform of the EU’s fiscal rules.
Von der Leyen set to defend COVID strategy in State of the EU speech
European Commission president, Ursula von der Leyen, is expected to tout the success of the institution’s vaccine strategy and the Covid certificate in her State of the EU speech on 15 September, in which Europe’s global status and role will have increased prominence following the US withdrawal from Afghanistan.
Gas excluded from green bond financing under recovery fund
Green bonds will not finance gas projects included in national recovery plans, according to the new framework put forward by the European Commission on Tuesday (7 September).
EU ministers clear Irish and Czech recovery plans
EU finance ministers approved on Monday (6 September) the recovery plans submitted by Ireland and Czech Republic, meaning that the proposals sent by 18 member states since April to access the coronavirus fund have now been validated.
Europe leaves austerity behind with job-driven recovery
National recovery plans are expected to create at least 800,000 jobs by 2022 in the EU, thanks to additional public and private investment and planned reforms in member states, according to the European Commission.
More than half of recovery plans approved, funds expected within days
EU finance ministers approved on Monday (26 July) the recovery plans of Croatia, Cyprus, Lithuania and Slovenia, bringing the total number of approvals to 16 out of the 27 member states.
Small businesses gain ground in sustainable recovery push
The EU’s recovery fund and new strategy on sustainable finance will expand the role small firms can play in building back the European economy in a sustainable manner, EU officials said.
Green package unleashes criticism against von der Leyen inside the college
Some EU Commissioners expressed concerns on Wednesday (14 July) about the landmark ‘Fit for 55’ climate legislation package and criticised the way the massive initiative to transform the European economy was handled by the Commission President Ursula von der Leyen, various officials told EURACTIV.com.
EU unlocks first recovery funds amid growing Delta fears
EU-27 finance ministers in the Ecofin Council approved on Tuesday (13 July) the first batch of twelve national recovery plans, paving the way for the first payments by the end of this month, as the spread of the Delta variant of COVID-19 across Europe increases the risk of new restrictions.
EU puts its digital tax on hold after US pressure
The European Commission announced on Monday (12 July) it will put on hold its own proposal for a digital levy in Europe in order to facilitate a global tax agreement. The digital tax, which would have affected US tech giants, was postponed following repeated calls from Washington on the Europeans to cancel their plans.
EU to detail future relationship with Gibraltar next week
The European Commission will put forward a mandate to negotiate a post-Brexit relationship with Gibraltar next week that would bring EU Frontex agents to its territory to avoid a hard border with Spain.
Released Catalan leader: Catalan issue requires a ‘multilateral solution’
Oriol Junqueras, former Catalan vice-president and pro-independence leader who had been jailed for his role in Catalonia's failed secession attempt, visited Strasbourg and Brussels on Tuesday and Wednesday (6-7 July), after being released from prison with a pardon from the Spanish government.
Lagarde makes a case for ‘green’ capital markets union
The President of the European Central Bank, Christine Lagarde, on Wednesday (29 June) called for initiatives to create a capital markets union for sustainable finance.
Commission spending on Big Four consultancy firms grows in 2020
The European Commission’s contracts with PWC, Deloitte, EY and KPMG, known as the ‘Big Four’, continued to increase last year surpassing €156 million, partly due to their rising billing as part of the reform support programme, according to estimates made by EURACTIV.com.
Commission to ease state aid straitjacket as recovery fund kicks in
The European Commission will present in the second half of this year a wide-ranging review of its state aid rules to facilitate public funding to strategic areas, as member states await the first transfers of the EU's recovery funds.
Eurogroup fails to agree on a calendar to complete banking union
Eurozone finance ministers (Eurogroup) failed to agree on Thursday (17 June) on a calendar to complete the banking union with a common deposit insurance scheme, as Germany continued to oppose any progress unless member states address other issues, including bank exposure to sovereign debt.
Euro fiscal watchdog endorses suspension of Stability Pact in 2022
The European Fiscal Board supported on Wednesday (16 June) maintaining the suspension of the Stability and Growth Pact throughout next year but called for reinstalling a revised set of fiscal rules from 2023 to minimise risks.
Commission convinces markets with first issuance of recovery bonds
The European Commission raised €20 billion in the markets on Tuesday (15 June) to start financing the EU’s €800 billion recovery fund, beating its expectations for the planned monthly bond sale.
EU-US aircraft deal heralds new trade cooperation in Biden era
The first summit between the EU and US President Joe Biden concluded on Tuesday (15 June) with a deal on a five-year suspension of tariffs in the longstanding Airbus-Boeing dispute, paving the way for stronger cooperation against the challenges posed by China’s economic model.
Europe turns to active labour market policies to beef up job recovery
The European Commission wants member states to adopt measures to support workers’ hiring and retraining in the aftermath of the pandemic, as the green and digital transitions will shake up a European job market already in pain because of COVID-19.