EMU

Economy & Jobs 30-11-2021

France sees chance of compromise with Germany on EU fiscal rules

France will be able to reach a compromise with the new German government to update the European Union's fiscal rules to face economic challenges following the COVID-19 pandemic, French Finance Minister Bruno Le Maire said on Monday (29 November).
Economic governance 30-11-2021

German inflation hits highest in decades, increasing pressure on ECB

German consumer price inflation rose further in November to hit another record high, preliminary data showed on Monday (29 November), increasing pressure on the European Central Bank to react.
Economic governance 28-09-2021

ECB-Lagarde reacts to MEPs’ inflation fears

European Central Bank chief Christine Lagarde told EU lawmakers on Monday that the recent uptick in inflation was likely to be a temporary phenomenon.
Economy & Jobs 05-03-2021

EU’s revised fiscal pact to consider ‘golden rule’ on investment

The European Commission will propose towards the end of the year how to simplify the European Union's complex budget rules, cut accumulated debt and boost investment, European Economic Commissioner Paolo Gentiloni said on Thursday (4 March).
Economic governance 03-03-2021

Commission wants to keep fiscal rules suspended in 2022

The European Commission said on Wednesday (3 March) that the Stability and Growth Pact should remain suspended next year as the European economy needs additional stimulus to return to the pre-crisis level.
Economy & Jobs 01-03-2021

EU likely to waive borrowing limits again in 2022

The European Union is likely to waive limits on government borrowing again in 2022, given persistent uncertainties about the pace of economic recovery once the coronavirus pandemic is contained, officials say.
Economic governance 27-01-2021

EU’s Gentiloni calls for greater involvement of unions in recovery plans

The economic crisis caused by COVID-19 could turn into a “social crisis”, the EU's economic  affairs commissioner Paolo Gentiloni has warned, calling for greater involvement from trade unions in the elaboration of national recovery plans. 

Portuguese minister: Fiscal discipline suspension should continue due to second wave

Portugal's finance minister said on Monday (25 January) that the stimulus to the European economy must be maintained until the COVID-19 pandemic “loses momentum”.
Economy & Jobs 21-01-2021

ECB considers not using €1.8 trillion pandemic stimulus in full

The ECB said on Thursday (21 January) that it would not use its €1,850 trillion pandemic bond-buying programme in full if governments and companies can be financed in favourable conditions, signalling a possible tightening of its monetary stimulus in the future.
Economy & Jobs 19-01-2021

Brussels launches new offensive against US dollar supremacy

On the eve of Joe Biden's inauguration as US president, the European Commission will launch a new offensive to promote the use of the EU's single currency on a global level, aiming to address the vulnerabilities of financial markets, which are seen as “too reliant” on the US dollar.
Economy & Jobs 30-12-2020

2021: Build back to the future

The EU will double down on its efforts to use the Covid-19 crisis to accelerate the ‘Green’ and digital transitions, fuelled by its €1.95 trillion stimulus, an intense policy agenda and new trade opportunities to improve its global standing.
Economy & Jobs 19-11-2020

Lagarde vows to act ‘with determination’ against second wave

European Central Bank President Christine Lagarde said on Thursday (19 November) that the institution will act "with determination” against the second wave of the pandemic, ahead of the new monetary stimulus she is expected to announce in December.
Economic governance 18-11-2020

Commission green-lights extra spending to avoid double-dip recession 

The European Commission has given its blessing to the draft budgetary plans submitted by the 19 eurozone countries, containing the extra spending to combat the risk of a new recession, but warned about the growing imbalances in many EU economies.
Economy & Jobs 05-11-2020

European recovery slows downs amid high uncertainty

The European Commission revised downwards its expectations about the European recovery as the impact of the second wave of COVID-19, and the uncertainty about how it will evolve further, will weigh on the fragile economies.
Economy & Jobs 05-11-2020

Commission expects recession to worsen in hard-hit Spain

The Spanish economy’s woes will worsen as GDP is expected to fall by 12.4% this year, according to the European Commission’s latest forecast to be published on Thursday, EU officials told EURACTIV.
Economy & Jobs 27-10-2020

Economic support will last ‘as long as necessary’, says Gentiloni

Given the increasing number of covid-19 cases and the risk of a double-dip recession, the support to the European economy will be maintained “as much as is needed, for as long as is needed”, said on Tuesday (27 October) commissioner for Economy, Paolo Gentiloni.
Brexit 10-09-2020

Lagarde hopes for EU-UK deal in spite of ‘negotiation posturing’

European Central Bank President Christine Lagarde voiced hope on Thursday (10 September) that EU-UK negotiations on a post-Brexit trade deal will lead to a positive outcome, in spite of the “negotiation posturing” seen in recent days.
Economy & Jobs 24-08-2020

Germany’s Scholz sees ‘no way back’ from EU joint debt

German Finance Minister Olaf Scholz said Sunday (23 August) that the European Union's recovery package financed by joint borrowing was a long-term measure rather than a short-term coronavirus crisis fix, contradicting Chancellor Angela Merkel.
Economy & Jobs 16-07-2020

ECB to sit tight as EU leaders shape virus recovery plan

European Central Bank governors are expected to refrain from doling out fresh stimulus medicine Thursday, hoping EU leaders will do their bit to shore up the crisis-hit region with a huge coronavirus recovery plan.
Economy & Jobs 09-07-2020

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.
Economy & Jobs 07-07-2020

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).
Economy & Jobs 02-07-2020

EU fiscal watchdog wants to scrap ‘unrealistic’ 60% debt limit

The European Fiscal Board on Tuesday (1 July) recommended to get rid of the EU's debt threshold of 60% of GDP and instead adopt realistic debt targets specific to the bloc's national economies.
Economy & Jobs 26-06-2020

Calviño, Donohoe and Gramegna compete for Eurogroup helm

Ministers Nadia Calviño (Spain), Paschal Donohoe (Ireland) and Pierre Gramegna (Luxembourg) will compete for the Eurogroup Presidency. While Calviño could become the first woman to chair the body, her colleagues promised to become ‘bridge builders’ between the different positions. 
Economy & Jobs 25-06-2020

Eurogroup race hits milestone with no official candidates yet

The deadline for eurozone finance ministers to put forward their candidacy to chair the Eurogroup ends on Thursday (25 June), with no official contenders yet, although Spain’s Nadia Calviño, Ireland’s Paschal Donohoe and Luxembourg’s Pierre Gramegna are seen as leading the race.