EMU

Economy & Jobs 12-07-2018

Trade war starts to dent European growth

The European Commission cut expected EU growth for this year by 0.2% compared to its forecast less than three months ago, as output was weaker than expected during the first semester and external risks, especially the trade war, are on the rise.
Economic governance 12-07-2018

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.
Economy & Jobs 11-07-2018

Commission approves close surveillance of Greece after bailout

The European Commission adopted a set of measures on Wednesday (11 July) to closely monitor Greece's fiscal policy after it concludes an eight-year-long bailout programme on 20 August, closing one of the darkest chapter's in the single currency's short history.
Banking union 10-07-2018

Germany poses ‘real problem’ when protecting bank savers with European guarantee, says official

A senior EU official said on Tuesday (10 July) that an agreement on a European Deposit Insurance Scheme (EDIS) to protect savers across the bloc would be “very hard” given Berlin’s opposition.
Banking union 09-07-2018

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.

Kurz pledges to shield Schengen as border dispute unfolds

Austrian Prime Minister Sebastian Kurz prioritised the protection of the external borders during his country's EU Presidency stint, in order to safeguard the Schengen area, as a recent deal between Germany’s conservative parties could lead to a resurrection of the bloc's internal borders.
Banking union 29-06-2018

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.
Economy & Jobs 26-06-2018

‘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.
Economy & Jobs 22-06-2018

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.
Economy & Jobs 21-06-2018

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.
Economy & Jobs 21-06-2018

Germany earned €2.9 billion from Greece’s debt crisis

Germany turns out to be a major beneficiary of Greece’s debt crisis as it earned a total of €2.9 billion between 2010 and 2017. This emerges from a response of the Federal ministry of finance in Berlin to a parliamentary request from the Greens (Bündnis90/Die Grünen) in the German Bundestag obtained by EURACTIV.
Economy & Jobs 21-06-2018

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.
Economy & Jobs 21-06-2018

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.
Future EU 20-06-2018

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.
Economy & Jobs 20-06-2018

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.
Future EU 20-06-2018

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.
Economy & Jobs 18-06-2018

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).
Economic governance 14-06-2018

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).
Economy & Jobs 13-06-2018

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.
Economic governance 11-06-2018

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.
Future EU 11-06-2018

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.
Economy & Jobs 06-06-2018

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.
Economy & Jobs 05-06-2018

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.
Economy & Jobs 01-06-2018

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).