Jorge Valero

Economy & Jobs 23-05-2018

Commission demands ‘credible response’ from Italy to reduce debt

The European Commission on Wednesday (23 May) approved Italy’s efforts to balance its public accounts but asked the new government for a “credible response” in order to further reduce its immense public debt.
Future EU 23-05-2018

An Italian job to shield the euro

Market pressure, the strong hand of EU institutions and the limits of power will determine how far the new Italian government will go in shaking up the eurozone’s status quo.
Economy & Jobs 22-05-2018

Trump’s trade exemptions might not be prolonged, EU warns

The EU's Trade Commissioner Cecilia Malmström said on Tuesday (22 May) there were “signals” from the US administration that it would impose tariffs on EU's steel and aluminium exports or enforce other restrictions, as she warned the bloc's steelmakers to prepare for the worst.
Economy & Jobs 17-05-2018

Europe rules out generous quotas as solution for Trump trade dispute

EU leaders demanded on Thursday (17 May) “permanent” and “unlimited” exemption from US President Donald Trump’s tariffs as a precondition for any trade negotiation with his administration, including market access.
Economy & Jobs 17-05-2018

Commission’s Eurobond alternative still viewed with scepticism

The European Commission has said that the zero-risk weight of its forthcoming sovereign bond-backed securities proposal will be a ‘game changer’, but member states and the financial sector remain sceptical about how the new asset could work in practice.
Economy & Jobs 09-05-2018

Trump becomes number one threat to European economy

US President Donald Trump’s decision to leave the Iran deal represents his third strike against the  European economy in half a year and will add more volatility in an already difficult period.
Economy & Jobs 03-05-2018

Trump’s policies could throw EU’s economic expansion ‘off track’, warns Commission

The European economy is expected to continue growing at a robust pace, but faces negative spillovers from the fiscal stimulus and trade restrictions adopted by US President Donald Trump, the European Commission warned on Thursday (3 May).
Future EU 02-05-2018

Commission’s ‘realistic’ budget criticised by member states

The European Commission's proposal for a moderate increase of EU funds for the next budgetary period (2021-2027) was immediately dismissed as a non-starter by national capitals.
Economy & Jobs 27-04-2018

Troika calls for ‘strong’ debt relief for Greece

The European Central Bank has joined the IMF and European Commission’s demand for “strong” and “credible” measures to alleviate Greece’s soaring public debt (around 178% of GDP) once the country exits its rescue programme on 20 August.
Economy & Jobs 26-04-2018

ECB sees ‘loss of momentum’ in eurozone’s economic growth

ECB President Mario Draghi said on Thursday (26 April) that all eurozone countries experienced “some moderation in growth or loss of momentum” over the past weeks, as the institution is carefully reassessing how to exit the unconventional monetary measures adopted during the crisis.

MEPs ask to check financial sector’s investments against climate goals

EU legislators have proposed extending the European Supervisory Authorities’ (ESAs) powers to include checking the financial institutions’ investment portfolio alignment with the Paris Agreement on climate change.
Economy & Jobs 25-04-2018

‘Juncker plan’ mobilises €284 billion in investment

The EU’s investment fund set up in the aftermath of the financial crisis has mobilised €284 billion to date, mostly in private capital, surpassing the halfway point of its 2020 target.
City of London skyline at sunset
Brexit 24-04-2018

Commission defends ‘equivalence’ with UK for financial services

European Commission Vice-President Valdis Dombrovskis told the UK’s financial sector on Tuesday (24 April) that the EU and UK regimes could co-exist together after Brexit, but warned that London would not have a say in the decision-making process.
Economy & Jobs 23-04-2018

Mexico wins ‘cheese war’ over Europe in trade deal

EU and Mexico reached a political agreement on Saturday (21 April) that will open new markets to European farmers, but Spain’s Manchego producers feel they have been left in the lurch by the bloc.
Circular economy 18-04-2018

Europeans will have to recycle half of their waste by 2025

European households and businesses will have to recycle at least 55% of their municipal waste by 2025, according to stricter new rules passed by the European Parliament on Wednesday (18 April).
Economy & Jobs 18-04-2018

Commission rules out any concession to avoid Trump’s tariffs

EU commissioner for trade Cecilia Malmström demanded on Wednesday (18 April) a “permanent and unconditional” exemption from US President Donald Trump´s tariffs and said the UE would not negotiate anything "under threat”.
Economy & Jobs 17-04-2018

Macron offers half-hearted defence for waning eurozone push

Emmanuel Macron toned down his ambition of completing the Economic and Monetary Union in a speech to the European Parliament on Tuesday (17 April), as he appears to be losing Germany’s backing and faces mounting pressure at home on unpopular economic reforms.

Syrian crisis adds pressure to break Council unanimity in foreign affairs

European Commission President Jean-Claude Juncker and German Foreign Minister Heiko Maas agreed on Friday to use the already available options to circumvent the required EU member states' unanimity when it comes to addressing foreign challenges including the Syrian war.
EU-China 10-04-2018

Commission satisfied with US trade talks, criticises Chinese IP practices

Trade discussions with the US are progressing well, European Commission vice-president Jyrki Katainen said on Tuesday (10 April). However, he lamented the “deteriorating” business climate in China.
Banking union 10-04-2018

ECB admits negative effect of monetary stimulus on German and Spanish banks   

Amid growing concerns about the profitability of eurozone banks, the ECB said that the monetary decisions adopted after the financial crisis had a neutral effect on the money houses of the single currency area, except for German and Spanish lenders.
Banking union 06-04-2018

Banks urged to improve IT systems to cope with crisis

Banks should invest more in IT infrastructure because providing quality data immediately makes all the difference when a bank needs to be resolved in an orderly fashion, the EU's Single Resolution Board has said.
EU-China 04-04-2018

EU considering taking China to WTO over IP practices

The European Commission is “closely examining” the option of filing complaints against China before the World Trade Organization for their rules and practices on intellectual property, a spokesperson told EURACTIV on Wednesday (4 April).
Economy & Jobs 28-03-2018

Consumers hail proposal to limit transaction costs in EU

The European Commission’s proposals to limit transfer costs to non-euro members and currency conversions abroad were welcomed by consumer and transparency activists, although NGOs complained that it would not benefit migrants’ remittances.
Banking union 27-03-2018

Banks should charge customers higher fees, says ECB

Banks should increase fees and commissions to customers to survive in the low interest rate environment, the ECB has argued in a new report.