EMU
Draghi steps into political debate, calls for more togetherness in EU
As European partners remain disunited on the way forward to strengthen the eurozone, ECB President Mario Draghi made a wholehearted defence on Monday (28 January) of the need to act together to complete the economic and monetary union and increase the influence of the common currency abroad.
Eurogroup kick off race for ECB chief economist, Ireland’s Lane puts name forward
Ireland presented Philip Lane’s candidacy as chief economist at the European Central Bank on Monday (21 January), as the Eurogroup opened calls for nominations in a relaxed first session of the year.
ECB reshuffle: The EU can do better than gentlemen’s agreements behind closed doors
Appointments to the European Central Bank's Executive Board are no less than a strategic and political decision over the future of the Eurozone. But experience has shown this process is not transparent, open, and democratic enough to protect the ECB from its legitimacy gap, argue Stanislas Jourdan and Sebastian Diessner.
Leaders call to complete eurozone on currency’s 20th anniversary
As the euro turns 20, leaders of the EU's main institutions called on member states to complete the reform of the Economic and Monetary Union, admitting mistakes were made in managing the eurozone debt crisis.
20 years of the euro: An imperfect success story
The single currency, which was officially launched on 1 January 1999, has performed its role of shielding against crises and stabilising prices. However, the insufficient convergence of the eurozone’s economies shows the fragility of this incomplete construction. EURACTIV France’s media partner La Tribune reports.
Poland lashes out against EU and Paris over French deficit
Poland on Friday (4 January) accused France of breaching European Union laws by exceeding spending limits, the latest in a series of long-running clashes between the two member states. Paris last month forecast a 2019 deficit of 3.2%, which would...
Italy makes concessions in latest budget draft proposal
The European Commission noted progress in Italy’s revised budget for 2019 sent late on Sunday as EU experts crunched numbers to see if Italy's effort was sufficient to end the budgetary spat.
Leaders wrap up year-long euro reform with face-saving package
EU leaders concluded on Friday (14 December) a year-long discussion to bolster the eurozone by approving extra money to resolve failing banks and additional powers for the European Stability Mechanism, the EU’s rescue fund.
ECB chief Draghi downgrades economic forecast as risks persist
European Central Bank President Mario Draghi presented on Thursday (13 December) the bank's downgraded economic forecast for the eurozone for this year and next, as uncertainties and risks remain prominent in the region.
Commission to judge in May France’s deficit deviation
The European Commission will conclude in May whether France’s deficit slippage caused by new spending measures represents a limited and temporary deviation allowed by the rules.
Juncker warns May: ‘No room’ to renegotiate Brexit deal
European Commission President Jean-Claude Juncker said on Tuesday (11 December) that the EU would be open to offer “clarifications” to British Prime Minister Theresa May, but insisted that the withdrawal agreement was the “best possible, the only possible” deal.
EU claims stronger role for its currency despite flawed monetary union
The European Commission presented on Wednesday (5 December) a strategy to strengthen the international role of the euro days after member states continued to drag their feet to complete the economic and monetary union.
EU reaches limited agreement to bolster economic and monetary union
EU finance ministers concluded a deal on Tuesday (4 December) to bolster the region with new tools to save ailing banks and member states but postponed Europe-wide instruments to protect depositors or stabilise national economies.
ECB urges completion of monetary union in ‘unstable’ world
ECB chief Mario Draghi called for the completion of the eurozone framework and to reduce divergencies between West and East members in order to protect the euro in a more "unstable" world on Monday (26 November).
Eurozone budget to be ready by 2021 say France and Germany
France and Germany's finance ministers on Monday (19 November) presented their proposal on establishing a eurozone budget by 2021, describing it as a "major political breakthrough".
Eurozone ministers urge inflexible Italy to drop budget defiance
Eurozone finance ministers urged Italy on Monday (5 November) to reverse course on its rule-breaking budget amid fears of market turmoil and a return of the debt crisis.
The euro ‘hawks’ want bigger say for crisis fund in cuts and reforms
The so-called Hanseatic League of EU countries called for a “strict conditionality” and more powers for the European Stability Mechanism over those countries requesting assistance to avert a full-blown crisis.
Member states must not let Commission stand against Italy alone
The rejection of Italy’s draft budget by the European Commission on Tuesday is unprecedented in the history of the Stability and Growth Pact. Member states cannot sit idly by but must take a more active role in the political conflict over fiscal sovereignty.
French people barely comforted by positive economic conditions
France tends to develop in the opposite direction to the rest of the eurozone and the economic lights are now on green. However, French morale tells a very different story and the international situation raises concerns among economic forecasters. EURACTIV France reports.
Draghi ‘confident’ about a deal on Italian budget
European Central Bank President Mario Draghi expressed his confidence on Thursday (25 October) about the likelihood of an agreement between the European Commission and the Italian government over Rome's spending plan for next year.
Italian budget standoff may consign eurozone integration drive to slow lane
An uncompromising challenge to EU budget rules by Italy is providing the first big test for reforms introduced to save the euro zone nine years ago as financial crisis threatened to tear it apart.
Course unchanged for ECB as growth worries bubble under
The European Central Bank seems certain to keep policy unchanged on Thursday (25 October) but likely to acknowledge the growth outlook is deteriorating, even if not yet enough to derail a carefully crafted retreat from stimulus.
Italy’s ‘unprecedented’ breach of fiscal rules clouds euro summit
Euro-area leaders agreed on Thursday (18 October) to accelerate the work to bolster the monetary union as the European Commission questioned half a dozen member states’ efforts to balance their public accounts, particularly Italy.