Economy & Jobs
France puts dividends payments into ‘confinement’ amid COVID-19 crisis
The French government intends to prohibit the payment of dividends to companies receiving state funding. While this would remain a partial ban, many are eager to see it become generalised in the context of the health and economic crisis. EURACTIV France reports.
German minister commits suicide after ‘virus crisis worries’
Thomas Schaefer, the finance minister of Germany's Hesse state, has committed suicide apparently after becoming "deeply worried" over how to cope with the economic fallout from the coronavirus, state premier Volker Bouffier said Sunday (29 March).
Von der Leyen to announce new post-virus economic ‘stimulus package’
The European Commission will propose a new stimulus package, including changes to the EU budget, in order to help the bloc recover from the economic damage caused by the coronavirus pandemic, Commission chief Ursula von der Leyen said Saturday (28 March).
Cashless payments versus the pandemic
Authorities are encouraging the use of electronic payments as a safer measure to maintain social distance and contain the spread of the coronavirus.
The Brief – Comrade Corona
A few months ago, the universal basic income was a left-wing pipedream. Now governments across Europe and beyond are preparing to pay people between 60% and 80% of their salary for the next few months.
Italian papers slam ‘Ugly Europe’ over delayed economic plan
The failure of EU leaders to come up with a joint economic response to the coronavirus crisis unleashed widespread criticism in Italy on Friday, with newspapers slamming Europe's foot dragging.
EU leaders back ‘green transition’ in pandemic recovery plan
While attention continues to focus on the urgent health aspects of the COVID-19 outbreak, EU leaders have called on the European Commission to start preparing “a comprehensive recovery plan” that integrates green and digital aspects.
G20 leaders to inject $5 trillion into global economy in fight against coronavirus
Leaders of the Group of 20 major economies pledged on Thursday (26 March) to inject over $5 trillion into the global economy to limit job and income losses from the coronavirus and "do whatever it takes to overcome the pandemic."
EU Parliament votes financial assistance for countries affected by COVID-19
Following an urgent procedure, the European Parliament on Thursday (26 March) almost unanimously backed two packages of financial support for countries affected by the coronavirus outbreak.
Leaders clash over stimulus against pandemic, pass hot potato to Eurogroup
EU leaders on Thursday (26 March) continued to disagree over the economic response to the coronavirus as Northern countries rejected the idea of issuing joint debt, known as "corona bonds", proposed by nine member states to finance the recovery.
Commission chief, MEPs slam lack of EU solidarity in COVID19 crisis
European Commission President Ursula Von Der Leyen heavily criticised the lack of solidarity between member states facing the COVID19 outbreak during a debate in the European Parliament about the EU’s response to the crisis on Thursday (26 March).
France wants EU to win virus ‘communications battle’
European solidarity is being put to the test as some EU member states are not supporting the idea of 'corona bonds' and the EU's approach to communicating with the public about the crisis remains too discreet, according to Paris. EURACTIV France reports.
MEPs demand a new long-term budget in response to coronavirus
Leading MEPs are urging the European Commission to update its proposal for the EU's 2021-27 budget and factor in the response that will be needed to tackle the consequences of the coronavirus pandemic.
US exports to the EU still three times higher than to China
The export of US goods to the EU totalled $337 billion in 2019, an increase of 6% on the previous year, according to the Transatlantic Economy 2020 report, published on Thursday (26 March). At the same time, that figure was three times higher than the total of goods exported from the United States to China.
EU warns virus could expose firms to foreign buy outs
The head of the European Commission warned Wednesday (25 March) that the economic aftermath of the coronavirus could leave strategic private sector firms exposed to foreign takeovers.
Germans and Dutch set to block EU ‘corona bonds’ at video summit
Germany and the Netherlands will lead opposition to issuing joint bonds to help revive the European Union economy from a deep slump caused by the coronavirus when the bloc's national leaders discuss emergency assistance on Thursday (26 March).
German parliament suspends debt brake to fight coronavirus outbreak
The German lower house on Wednesday (25 March) suspended the country's constitutionally enshrined debt brake, approving a massive stimulus package by Chancellor Angela Merkel's government to weather the economic fallout from the coronavirus outbreak.
Nine member states ask for eurobonds to face coronavirus crisis
Nine eurozone countries sent a letter on Wednesday (25 March) to the President of the EU Council, Charles Michel, asking for a common debt instrument to mitigate the damage caused by the coronavirus crisis.
COVID-19: France calls unemployed to work in fields as borders stay closed
The French government has called on the technically unemployed French to make themselves available to help farmers with seasonal harvests. But such 'agricultural patriotism' does not bode well with the tightening of containment. EURACTIV France reports.
Thyssenkrupp to scrap 3,000 steel jobs as part of coronavirus ‘crisis package’
German industrial conglomerate Thyssenkrupp on Wednesday (25 March) announced it was scrapping 3,000 jobs in its troubled steel unit as part of a coronavirus "crisis package".
‘Worst crisis ever’: Carmakers line up for recovery cash amid calls to go green
While European carmakers cry for help, environmentalists say public money aimed at helping the automotive industry recover from the COVID-19 crisis must be future-proof and geared towards green technologies.
Eurogroup nearing agreement to use bailout fund against pandemic
Countries of the euro area are close to an agreement to use the European Stability Mechanism to provide credit lines of up to 2% of their GDP to tackle the consequences of the coronavirus COVID-19.
Protective equipment joint purchase ready in two weeks, Commission says
International suppliers will be ready to provide personal protective equipment for fighting COVID-19 within two weeks, following the European Commission joint procurement initiative, the EU executive announced on Tuesday (24 March).