Economy & Jobs
ECB fines France’s Credit Agricole over capital reserves
The European Central Bank announced on Monday (20 August) that it had fined French lender Credit Agricole a total of €4.8 million over past irregularities in the way it declared its capital reserves, Reuters reports.
Commitments have to be respected, EU tells Greece
Greece will now be “a normal country” but the reforms and the ambitious fiscal targets agreed with its lenders must be respected, the Commissioner for economic affairs, Pierre Moscovici, said on Monday, the day the Hellenic nation exited its bailout programme.
Has the eurozone learned from its Greek odyssey?
Greece will formally turn the page on its debt saga this week, but the eurozone remains vulnerable to further crises, with economists particularly worried about the situation in Italy.
Greece exits bailout programme but faces hard times ahead
Greece concluded its rescue programme on Monday (20 August), marking a milestone in its recent history and the end of the most difficult period for the euro area, but analysts and officials said the country faces an uphill struggle to maintain its economy sustainable.
Turkish instability threatens Europe from the Italian flank
Market pressure, financial exposure and a potential review of a key migration deal with Ankara has made Italy the most vulnerable country to the recent financial turmoil in Turkey.
Oettinger dismisses claims EU to blame for Italian bridge collapse
Brussels has recently encouraged Italy to increase expenditure in infrastructure, EU officials said on Thursday (16 August) in response to Italian Interior Minister Matteo Salvini’s allegations that the bloc's austerity policies were partly responsible for Italian bridge collapse.
Bayer loses €16 bln market value as concerns mount over further damages claims
Bayer shares registered yet another sharp decrease on Thursday (16 August), dropping as much as 6.5% in Frankfurt to hover near the 76 euros level as investors fear the German chemicals and pharmaceuticals giant may face numerous litigations in the US after its controversial merger with Monsanto.
US says EU stalling on Airbus, blocks request for WTO compliance panel
The US said on Wednesday (15 August) the EU and four of its planemaker states have failed to bring subsidies for Airbus into line with a World Trade Organisation (WTO) ruling of last May, an accusation refuted by the EU.
EU companies ‘most likely to leave’ Iran after US sanctions, business organisations warn
German carmaker Daimler has shelved its expansion plans in Iran due to the reimposition of US sanctions but it might not be the last EU company to pull the plug on future aspirations, businesses organisations told EURACTIV.
Trump trade rows are ‘destroying’ growth, says German minister
Germany's economy minister on Sunday lashed out at US President Donald Trump, slamming his global trade rows and efforts to "dictate" Europe's dealings with Iran through renewed US sanctions.
Greece’s unemployment falls under 20% after 7 years of bailout
Greece's unemployment rate, the highest in the European Union, has dropped below 20% for the first time in seven years, statistics bureau Elstat reported on 9 August.
Italy’s economy minister: Lower growth, higher deficit next year
Italy on Wednesday (8 August) cut its forecasts for economic growth and said the country's public deficit this year and in 2019 would be larger than previously forecast, potentially lining it up for a clash with Brussels.
Unions tell Poland to push coal as UN climate host
Poland’s trade unions are mounting a defence of coal workers against the impacts of climate policies in a government-backed conference this week. EURACTIV's partner Climate Home News reports.
EU tries to soften impact of US sanctions against Iran as they re-enter into force
As a result of the Trump administration's decision to withdraw from the Iran nuclear deal, Washington's re-imposition of sanctions hit European companies operating in the country from Monday (6 August) onwards. The EU has updated its ‘blocking statute’ to temper the impact.
Renewed Italian government tensions fuel bond selloff
Short-dated Italian government bonds sold off on Friday (3 August) for the second straight day on signs of deepening tension within the Italian government that is raising the prospect of new elections.
ASEAN, EU close ranks in face of trade war threat
Southeast Asia and Europe stressed the importance of pushing back against protectionism and the threat of global trade wars on Friday (3 August), as their ministers work towards the eventual goal of a region-to-region free trade pact.
Ambitious EU-UK trade deal possible after Brexit, need Ireland solution first
Britain and the EU can have a trade agreement of unprecedented scope after Brexit if each retains control over their laws and there is a deal how to avoid a physical border in Northern Ireland, a top EU official said.
European markets sink as trade war fears build
European equities markets were in the red on Thursday as trade war fears ratcheted higher after the United States said it was looking at more than doubling threatened tariffs on a range of Chinese imports.
Bank of England poised to raise rates in the face of Brexit risk
The Bank of England looks set to raise interest rates on Thursday (2 August) to their highest level since the financial crisis, defying warnings that it is taking a gamble ahead of Brexit, the terms of which remain unclear.
Trump adds to China trade pressure as EU hails US soybean surge
As US President Donald Trump gears up pressure on China for trade concessions by proposing a higher 25% tariff on $200 billion worth of Chinese imports, the EU hailed a near three-fold jump in soybean imports from the US, attributing the surge to "market forces" and not last week's highly touted trade deal with President Trump.
BMW to build €1 billion car factory in Hungary
BMW will invest 1 billion euros ($1.17 bln) to build a new plant in Hungary at a time when a rise in protectionism is forcing carmakers to curb inter-continental exports and to refocus production networks to serve regional trading blocs.
MPs lambast May government’s ‘failure’ to set out post-Brexit migration rules
MPs have lambasted the UK government for “failing to set out any substantive proposals on long-term migration between the UK and the EU” after Brexit.
Commission reports ‘intense’ spike in unfair trade practices
The European Commission published on Tuesday (31 July) its annual report on trade defence measures, which informed of 46 ongoing investigations for unfair commercial practices in 2017.