Economic governance
Commission rejects auditors’ call to tighten control of EU member states’ debt
The European Commission has rejected the European Court of Auditors’ recommendation to strengthen surveillance of EU member states with high levels of public debt.
Draghi urges countries to complete banking union as risks fall
European Central Bank President Mario Draghi urged eurozone member states to complete the banking union with a European Deposit Insurance Scheme, noting the “substantial” reduction of risks in the banks’ balance sheets and the benefits of risk-sharing.
EU leaders postpone completion of banking union
Despite previous promises to achieve results on eurozone reforms in June, EU leaders postponed until December an agreement on the backstop to wind down failing banks and did not include any date for starting discussions on a European deposit guarantee scheme.
LIVE: Migration, eurozone test EU unity at fateful June Summit
EU leaders are meeting on 28-29 June to bash out a solution to the divisive issue of migration, which should help Chancellor Angela Merkel preserve her fragile government, and lay the groundwork for a scaled-down package of eurozone reforms wanted by French President Emmanuel Macron.
‘Differences’ persist on eurozone budget ahead of key EU summit
Eurogroup head Mário Centeno warned Monday (25 June) of differing opinions towards a plan by France and Germany to establish a eurozone budget, ahead of a key EU summit to discuss the matter.
Eurogroup reaches ‘historic’ deal on debt relief for Greece
In the early hours of Friday (22 June), the Eurogroup reached an “historic” deal on a debt relief for Greece, solving the last political hurdle to conclude its rescue programme after more than eight years.
Spain pledges to ‘square the circle’ on public finances in Eurogroup debut
Spain's new Socialist government said on Thursday (21 June) it had “no reasons” to believe that it would miss its deficit target, despite a planned increase to pensioners’ benefits being questioned by the EU institutions.
German finance minister defends euro reforms against conservative attack
Germany's finance minister on Wednesday (20 June) defended a euro zone reform blueprint agreed with France against criticism by Chancellor Angela Merkel's conservatives that it could undermine monetary stability.
Eurozone ministers seek end to Greece bailout odyssey
Eurozone ministers will on Thursday (21 June) try to resolve their differences over the terms of Greece's departure from its massive bailout programme with splits over the degree of debt relief needed by cash-strapped Athens.
Unravelling the Macron-Merkel agreement
A meeting between Angela Merkel and Emmanuel Macron was meant to foster a breakthrough on possible eurozone reforms. But the declaration brokered on Tuesday (19 June) is full of language that leaves a lot of room for interpretation. EURACTIV Germany reports.
Macron wins Merkel’s backing on budget for eurozone
French President Emmanuel Macron on Tuesday (19 June) won German Chancellor Angela Merkel's backing for reforms that are aimed at bolstering the eurozone against crises, including a vaunted budget for the bloc.
OECD’s Gurría: ‘People are angry and frustrated’
OECD Secretary-General Ángel Gurría has blamed governments for the rise of populism and political fragmentation across Europe, claiming they also did not deliver benefits that were promised to citizens, he told EURACTIV in an interview.
Commission’s ‘stabilisation function’ very modest, says eurozone fiscal sheriff
The European Fiscal Board has discredited the Commission’s proposed fund to protect investment as “very modest”, “narrow” and not well designed, its chair Niels Thygesen said on Monday (18 June).
Eurogroup nears debt deal for Greek bail-out exit
Greece and its creditors are getting closer to a deal on a debt relief package to be sealed during the next Eurogroup meeting on 21 June, senior EU officials said on Wednesday (13 June).
Rutte rejects Commission’s new funds for monetary union
Dutch Prime Minister Mark Rutte said on Wednesday (13 June) the EU should use the tools that are already available to support reforms and protect the euro, in his latest criticism of proposals to deepen the bloc's integration.
France and Germany ‘talk throughout the night’ on eurozone reform
France and Germany made "significant progress" towards an agreement on eurozone reforms at marathon talks in Paris this weekend, French Finance Minister Bruno Le Maire said Sunday (10 June), but aides said there was still some work to do.
Merkel open to EU migration reform, cautious on eurozone
German Chancellor Angela Merkel said Sunday (10 June) she was more open to French President Emmanuel Macron's plans to reform migration and defence policy in Europe than his hopes to bolster the euro.
Juncker: ‘Completing the EMU is more important than ever’
With an eye on Italy and Spain and the possible political and financial turmoil there, the European Commission chief Jean-Claude Juncker called once again on Tuesday (5 June) for a fast and deep reform of the Economic and Monetary Union.
Commission hails similarities with Merkel’s eurozone proposals
European Commission Vice-President Valdis Dombrovskis welcomed German Chancellor Angela Merkel’s proposals to strengthen the euro area, noting the similarities between the Bundesrepublik's and EU executive’s ideas on structural reform and investment support.
Unemployment peaks to trigger new investment shield
A spike in unemployment numbers would give EU countries access to €30 billion of soft loans to maintain investment in times of economic turbulences, according to proposals unveiled by the European Commission on Thursday (31 May).
MEP Rodrigues: Imposing eurozone ‘as it is’ on Italy is not the answer
Populist forces in Italy are “playing with fire” and exposing the country to market pressure, vice-president of the Socialist Group in the European Parliament Maria João Rodrigues warned in an interview.
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.
Merkel allies reject idea of European finance minister
Leading politicians from Chancellor Angela Merkel's Christian Democrat party want to pass a resolution at a meeting this week to reject any pooling of debts in Europe and any common fiscal policy without national parliamentary controls, Handelsblatt reported.