Economy & Jobs
Foreign aid to be big loser from EU budget under Michel plan
EU external and development spending is in line to be the biggest loser from next week’s crunch EU budget summit in Brussels. The blueprint outlined on Friday (10 July) by European Council President Charles Michel includes a reduction of €4.7 billion for the Neighbourhood Development and International Cooperation Instrument in the EU's next seven-year budget.
Michel gives control to member states to facilitate recovery fund deal
European Council President, Charles Michel, proposed on Friday (10 July) to give more control to member states over the recovery funds to overcome Northern member states’s opposition to the ambitious stimulus.
Commission expert group warns against ‘killer acquisitions’ in platform economy
The EU should consider imposing 'new obligations' on major platforms to report their merger and acquisition activities to the European Commission in order to avoid a culture of 'killer acquisitions,' a report produced for the EU executive has said.
Sweden and Denmark step out of the shadows as EU’s frugals
Normally perceived as team players, Sweden and Denmark have found themselves playing the unaccustomed role of outliers in EU politics, blocking the widely backed COVID-19 recovery plan.
Donohoe wins Eurogroup presidency
Ireland’s minister of Finance, Pascal Donohoe, will be the next Eurogroup chief, outgoing president Mario Centeno announced.
Alstom offers factory sale in return for Bombardier merger approval
France’s TGV high-speed train maker Alstom on Thursday (9 July) offered to sell a French rail factory and make other concessions to win European Commission approval for its planned purchase of Bombardier Inc’s transportation business.
MEPs bless Mobility Package without fuss
Members of the European Parliament signed off on updated trucking rules on Thursday (9 July) without accepting any amendments to the reform package that Central and Eastern European countries had pushed for.
Air France’s promise to nix domestic flights: Not good enough for the environment
Air France's pledge to end some of its domestic flights in return for billions of euros in government aid is a weak contribution to climate action, as weak railway infrastructure stands in the way of a plane-to-train shift. EURACTIV France reports.
Election day: Calviño and Donohoe neck and neck in Eurogroup race
Eurozone finance ministers are split on whether to pick their Spanish colleague Nadia Calviño or Ireland’s Paschal Donohoe as the next Eurogroup president during a videoconference on Thursday (9 July), EU sources and diplomats told EURACTIV.com.
German financial watchdog under fire following Wirecard scandal
The balance sheet scandal surrounding the payment company Wirecard raises many questions. Politicians are currently vigorously pursuing one of them: Where were the supervisory authorities? EURACTIV Germany reports.
Dutch MEP Paul Tang to chair new tax subcommittee
Dutch Labour MEP Paul Tang is expected to be elected the chair of the new European Parliament’s subcommittee on taxation on Friday (10 July), after the political groups reached an agreement on his choice, Parliament sources have told EURACTIV.com.
Dutch ‘preachers and salesmen’ lead EU frugality drive
The Netherlands will be at the centre of upcoming talks over European spending on the coronavirus crisis, driven by a mix of traditional Calvinist frugality and political reality, experts say.
Italy will not accept ‘weak compromise’ on EU recovery fund, PM says
Italian Prime Minister Giuseppe Conte said on Tuesday (7 July) the European Union must act decisively to build a common response to the economic crisis caused by the COVID-19 pandemic, urging that support measures be activated rapidly.
EU to face difficulties without a deal on recovery plan, Budget Commissioner warns
If EU leaders fail to reach an agreement on a pandemic recovery package next week, “we will enter into difficulties,” the EU Commissioner for Budget, Johannes Hahn, warned during an event in Brussels on Tuesday (7 July).
Altmaier argues against ‘international monopolies’ in the platform economy
A "well-regulated" platform economy should allow for small and medium-sized enterprises to compete fairly and should not lead to the formation of "international monopolies", German Economy Minister Peter Altmaier said on Tuesday (7 July).
Italy, Spain and France worst performers as recession deepens
Italy, Spain and France will register the worst economic downturn among eurozone countries this year as the contraction will be more severe than previously expected, according to the latest European Commission forecast published on Tuesday (7 July).
Rule of law a must before getting EU money, Jourova insists
European Union countries should only get money from the bloc's budget and the COVID-19 recovery fund if they have robust courts and safeguards against corruption, a top official said on Monday (6 July), a couched warning to Poland and Hungary, among others.
Eyeing United States, EU lawmakers seek quicker trade retaliation
EU lawmakers overwhelmingly backed a proposal on Monday (6 July) to allow the European Union to retaliate more quickly in trade disputes, with a clear eye on the tariffs imposed by US President Donald Trump.
Counterfeit and illegal sellers to be targeted in Digital Services Act, Vestager says
A crackdown on the sale of counterfeit and illegal goods across online platforms is likely to feature in the European Commission's upcoming Digital Services Act plans, the EU's Vice-President for Digital Affairs, Margrethe Vestager has said.
Six months to reflect on the new world we want
Decision makers should ‘take a breath’ and come up with a comprehensive plan to achieve the digital and green future we want in the aftermath of the coronavirus crisis, officials and experts said.
Belgium and most EU countries exempted from UK travel restrictions
The UK will lift its two week quarantine requirements for people travelling to and from most EU countries from next week, as Boris Johnson’s government continues to ease restrictions put in place to tackle the coronavirus pandemic.
Austria’s trains take over short-haul flight route
Austrian Airlines will cease operating its Vienna-Salzburg route, the flag-carrier announced on Thursday (2 July). Instead, the service will be replaced by more direct trains, in an effort to honour the terms of the government's recent bailout deal.
Europeans save up to €2 billion thanks to caps on bank cards fees
Bank cards fees for European merchants and consumers have decreased over the past years thanks to the new EU rules, generating savings of up to €2 billion annually, according to a European Commission report published this week.