Economy & Jobs

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.

Trade tensions boosted international role of euro, ECB reports

Trade tensions, challenges to multilateralism and unilateral sanctions might be bad for the economy but they have helped boost the global use of the euro, the European Central Bank reported on Thursday (13 June).

Fiat-Chrysler-Renault merger still ‘interesting’, says French minister

French Finance Minister Bruno Le Maire said on Thursday (13 June) that a Fiat Chrysler-Renault merger remained an “interesting opportunity” but added he would tell the French carmaker’s chairman that strengthening the Renault-Nissan alliance is the priority.

Far from ‘devalued’, euro surges as trade war hits yuan

If evidence is needed of how far ripples from the Sino-US trade war are reaching, have a look at Europe where the yuan’s slump is driving up the euro’s value against trade partners’ currencies, handicapping the export-reliant bloc’s economy. Contrary...

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. 

One in ten of the world’s children are forced to work, report shows

Every tenth child in the world, which amounts to over 150 million in total, are forced to work to support their family financially, according to the human rights organisation Terre des Hommes. This finding was published in the organisation's 2019 Child Labour Report, which it published for International Child Labour Day (12 June). EURACTIV Germany reports.

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.

Trump blames ‘cheap’ euro for EU’s tourist overcrowding

US President Donald Trump blamed the European Central Bank’s loose monetary policy for the high number of tourists arriving to Europe, and attacked once again the US Federal Reserve for keeping “ridiculous” high interest rates.

European Comission calls on Germany to invest more in education

One would expect that increased digitisation would ensure less work is needed but the European Commission has stated that EU member states will face exactly the opposite. It has also warned Germany that it needs to invest more in education. EURACTIV Germany reports.

Watered-down Tobin tax could enter into force in 2021

EU finance ministers will discuss on Friday (14 June) a new draft proposal for a financial transaction tax (FTT), which will significantly lower expected revenues once participating member states adopt it, according to details of the text seen by EURACTIV.

UK-South Korea deal seeks to calm Brexit anxiety in oil markets

A UK-South Korea trade deal announced Monday (10 June) guarantees future exemption from oil tariffs following a spate of dry months without crude imports coming from Britain's North Sea fields.

G20 agrees to wrap up Big Tech tax rules by 2020

Group of 20 finance ministers agreed on Sunday to compile common rules to close loopholes used by global tech giants such as Facebook to reduce their corporate taxes, a final communique issued by the bloc showed on Sunday (9 April).

LEAK: EU’s five-year plan doubles down on protecting borders

EU leaders want to focus on migration and protection of external borders, or the "integrity of our physical space", over the next five years, according to a draft of the so-called strategic agenda obtained by EURACTIV. Economy and climate action rank second and third.

EU cobbles workaround to avoid US block on WTO judges

The European Union is set to propose creating a shadow system to get around a US block on appeals in disputes at the World Trade Organization (WTO), according to a draft proposal circulated to national lawmakers.

ECB ponders further monetary stimulus to counter trade, Brexit risks

The European Central Bank decided on Thursday (6 June) to keep the low interest rates unchanged at least until mid-2020, and confirmed that it is considering further monetary stimulus, including further rate cuts and restarting the asset purchasing programme, to counter the trade tensions and Brexit uncertainty.

How the EU wants countries to tweak transport policy

The European Commission unveiled a whole series of country-by-country recommendations on Wednesday (5 June), including guidance on how to improve transport links and boost sustainability through shrewd investments.

Cocaine trafficking reaching record highs, says EU drug agency

Cocaine seizure in the EU reached record highs in 2017 and the trafficking of synthetic drugs has also increased, according to this year's European Drug Report. A closer look into Berlin's drug help centre shows how drug consumption is linked to mental health. EURACTIV Germany reports.

Fiat-Chrysler withdraws Renault merger offer

Fiat-Chrysler's (FCA) $35 billion-plus merger offer to Renault fell apart only 10 days after being made public, with both companies' shares falling sharply in early trading on Thursday (6 June). FCA blamed French politicians for the collapse.

Italy’s Di Maio, Salvini slam EU debt warning

Italy's populist Deputy Prime Minister Luigi Di Maio on Wednesday (5 June) dismissed Brussels' formal warning over the country's excessive public spending as "too easy".

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.

Climate becomes top priority in EU’s 2020 budget

The European Commission proposed on Wednesday (5 June) a budget worth €168.3 billion for the bloc in 2020, aimed at promoting a more competitive European economy and solidarity and security in the EU.

Global growth continues to weaken, World Bank report confirms

After the IMF and the OECD, the World Bank has also cut its 2019 growth forecasts. Uncertainties over trade and investment are at the root of this slowdown, which is also affecting the eurozone. EURACTIV France reports.

In Fukuoka, EU to focus on trade tensions at G20, seek tax on digital firms

Resolving global trade tensions must be a top priority to preserve an expected modest rebound in global growth, European Union finance ministers will tell G20 counterparts this week amid an escalating US-Chinese trade conflict.