Economic governance
Five things to know about the new pot to support EU economies
The European Commission will play a key role in deciding what reforms and investments are supported by a new financial instrument expected to be in place in 2021, whose amount is yet to be decided by the member states as part of the negotiations on the EU's long-term budget (MFF).
Cables reveal how Britain tried to turn France against the euro in the 1990s
British diplomats tried to establish a "very private link" with former French president Jacques Chirac with the "unavowed aim" of exposing him to the risks of a European currency union, declassified documents revealed Thursday (17 July).
Le Maire: ‘Capitalism is in a dead end, must reinvent itself’
French finance minister Bruno Le Maire is determined to chair an “efficient” meeting with his colleagues of the G7 countries on Wednesday and Thursday. His goal is no less than to refound capitalism. As a first step, he wants to reach an agreement on the main features of digital tax, to pave the way for an international compromise by early next year.
Europeans tell Germany to spend more to boost euro economy
European ministers and institutions told Germany on Monday (8 July) to increase public spending in order to support the ailing growth in the eurozone, as decision-makers and investors see a growing risk of recession looming on the horizon.
Italy escapes EU budget sanction procedure after spending cuts
The European Commission concluded on Wednesday (3 July) that Italy was no longer breaching the EU’s fiscal rules after the government reduced public spending by €7.6 billion in a last-minute effort to escape a sanction procedure.
Christine Lagarde, a non-conventional pick for the ECB presidency
A lawyer by training, Christine Lagarde has been nominated to succeed Mario Draghi as president of the European Central Banck (ECB). The IMF director has an atypical profile, due to her lack of banking experience and question marks over her past. EURACTIV France reports.
Finland softens opposition to eurozone budget as it takes over EU Presidency
On the eve of assuming the EU's rotating presidency, the new centre-left Prime Minister of Finland, Antti Rinne, accepted on Wednesday (26 June) the possibility of a “small” eurozone budget to support investments, as long as it remains part of the EU’s long-term spending plans.
EU fiscal board insists on stabilisation mechanism
Any systemic shock will not affect just some countries but the whole euro area so if member states want to counter it adequately, they need to have a central fiscal capacity, European Fiscal Board (EFB) president Niels Thygesen told reporters on Tuesday (25 June).
Rutte: ‘I will never support stabilisation mechanisms at euro level’
In an exclusive interview with EURACTIV.com after the European Council, Dutch Prime Minister, Mark Rutte, said on Friday (21 June) that he "will never support" new budgetary instruments to stabilise the euro area if an economic shock hits the region.
Divided EU to urge return to talks on eurozone integration
European Union leaders will urge finance ministers on Friday (21 June) to keep working on deeper euro zone integration as flagship ideas such as a euro zone budget or a deposit guarantee scheme either lack key elements or have not progressed at all.
No agreement on euro budgetary tool- ministers send ‘hot potato’ back to leaders
EU finance ministers failed to reach an agreement in the early hours of Friday (14 June) on an anti-shock instrument to shield the euro, as they continued to clash over almost every feature on the agenda, including the source of funding.
Finance ministers press Italy to stick to EU fiscal rules
EU finance ministers told the Italian government on Thursday (13 June) to meet its fiscal obligations in order to reduce its high debt, with the European Commission insisting on “substantial corrections” to rein in public spending.
Eurogroup to nudge forward EMU reform before next week’s EU summit
EU finance ministers will try to close a deal on deepening the Economic and Monetary Union, including a tentative new budget for the eurozone, during the Eurogroup meeting on Thursday (13 June) in an inclusive format.
EU moves closer to debt action as Italy angles for compromise
The European Union moved closer on Tuesday (11 June) to taking disciplinary action over Italy's growing debt, as authorities in Rome made tentative steps to avert a procedure that could saddle the country with large fines and alienate investors.
Five takeaways from the EU’s economic recommendations to member states
While the public finances of all EU member states are now officially out of the “red zone”, the European Commission on Wednesday (5 June) still had tough economic policy recommendations for Spain, Italy, Belgium, Greece and Germany.
Commission to launch sanction procedure against Italy
The European Commission is preparing to launch a new excessive deficit procedure against Italy as a response to the government's lack of efforts to control public spending in the highly indebted EU country.
EU top court rejects ECB compensations for investors affected by Greek crisis
The EU's top court ruled on Thursday (23 May) against demands for the European Central Bank to compensate private investors affected by the restructuring of the Greek public debt in 2012.
EU elections 2019: This is what the parties want for our economy
A new industrial policy for Europe, more support for small-and-medium sized enterprises (SMEs), and improved tax policy are common priorities of the European political families for the next mandate, while a review of the ECB mandate is also included in the manifestos of many parties for the EU elections.
Growing concerns over Greece and Italy, as negotiations stall on eurozone budget
Latest Greece and Italy’s fiscal plans raised concerns in Brussels, as the Eurogroup met for another round of negotiations on the budgetary instrument for the Eurozone on Thursday (16 May), without major achievements.
Italy clouds Eurogroup discussion on public spending
Finance ministers from the 19 eurozone countries will review public spending in the region on Thursday (16 May), with Italy once again in the spotlight amid an ongoing economic slowdown.
Slowing growth: EU countries urged to further adjust spending
The European Commission called on Spain, Italy, France and Belgium to do more efforts to balance their public accounts yesterday (7 May), citing a slowing economy.
Austrian chief economist: ‘A lot can still be done to complete the euro zone’
The Austrian national bank (OeNB) hosted its annual conference on 20 years of the euro on 2 and 3 May. In an interview with EURACTIV, the bank's chief economist explains how the euro zone debt crisis changed the economic "tool box" of the EU currency and spells out the challenges ahead.
Brussels was right about Italy’s weak growth, Juncker says
It is an overstatement to claim that Italy’s debt constitutes a risk for global markets, but a zero-growth rate can only worsen Rome's problems, European Commission President Jean-Claude Juncker said in an interview with state broadcaster RAI on Sunday (31 March).