EMU
Unconventional measures are seeing a comeback at the ECB
The ECB's key interest rate remains at zero and is expected to be at that rate at least until summer 2020. However, ECB chief Mario Draghi is suggesting that a decisive fiscal policy is far more important for the eurozone, especially for Germany and Italy. EURACTIV Germany reports.
Spain obstructs agreement on ‘Tobin tax’
Revenue sharing among member states appears as the main outstanding issue to reach an agreement on the financial transaction tax (FTT), as Spain is still opposing the mutualisation of the resources, European officials told EURACTIV.
Five things to know about the new pot to support EU economies
The European Commission will play a key role in deciding what reforms and investments are supported by a new financial instrument expected to be in place in 2021, whose amount is yet to be decided by the member states as part of the negotiations on the EU's long-term budget (MFF).
Cables reveal how Britain tried to turn France against the euro in the 1990s
British diplomats tried to establish a "very private link" with former French president Jacques Chirac with the "unavowed aim" of exposing him to the risks of a European currency union, declassified documents revealed Thursday (17 July).
Commission’s forecast paves the way for new ECB stimulus
The European Commission kept its growth forecast unchanged at 1.2% on Wednesday (10 July) but revised downwards inflation to 1.3% for this year and the next, strengthening the case for further monetary stimulus as global economic risks worsen.
Europeans tell Germany to spend more to boost euro economy
European ministers and institutions told Germany on Monday (8 July) to increase public spending in order to support the ailing growth in the eurozone, as decision-makers and investors see a growing risk of recession looming on the horizon.
Italy escapes EU budget sanction procedure after spending cuts
The European Commission concluded on Wednesday (3 July) that Italy was no longer breaching the EU’s fiscal rules after the government reduced public spending by €7.6 billion in a last-minute effort to escape a sanction procedure.
Christine Lagarde, a non-conventional pick for the ECB presidency
A lawyer by training, Christine Lagarde has been nominated to succeed Mario Draghi as president of the European Central Banck (ECB). The IMF director has an atypical profile, due to her lack of banking experience and question marks over her past. EURACTIV France reports.
Finland softens opposition to eurozone budget as it takes over EU Presidency
On the eve of assuming the EU's rotating presidency, the new centre-left Prime Minister of Finland, Antti Rinne, accepted on Wednesday (26 June) the possibility of a “small” eurozone budget to support investments, as long as it remains part of the EU’s long-term spending plans.
Stabilisation mechanism in induced coma after EU leaders’ meeting
EU leaders failed to inject further ambition to a Eurogroup deal on watered-down reforms of the Economic and Monetary Union, including a budgetary instrument for the eurozone, at the Euro summit on Friday (21 June).
Divided EU to urge return to talks on eurozone integration
European Union leaders will urge finance ministers on Friday (21 June) to keep working on deeper euro zone integration as flagship ideas such as a euro zone budget or a deposit guarantee scheme either lack key elements or have not progressed at all.
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.
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.
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.
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.
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.
Commission to launch sanction procedure against Italy
The European Commission is preparing to launch a new excessive deficit procedure against Italy as a response to the government's lack of efforts to control public spending in the highly indebted EU country.
EU elections 2019: This is what the parties want for our economy
A new industrial policy for Europe, more support for small-and-medium sized enterprises (SMEs), and improved tax policy are common priorities of the European political families for the next mandate, while a review of the ECB mandate is also included in the manifestos of many parties for the EU elections.
Growing concerns over Greece and Italy, as negotiations stall on eurozone budget
Latest Greece and Italy’s fiscal plans raised concerns in Brussels, as the Eurogroup met for another round of negotiations on the budgetary instrument for the Eurozone on Thursday (16 May), without major achievements.
Italy clouds Eurogroup discussion on public spending
Finance ministers from the 19 eurozone countries will review public spending in the region on Thursday (16 May), with Italy once again in the spotlight amid an ongoing economic slowdown.
Slowing growth: EU countries urged to further adjust spending
The European Commission called on Spain, Italy, France and Belgium to do more efforts to balance their public accounts yesterday (7 May), citing a slowing economy.
Brexit uncertainty weighs on eurozone growth, Draghi warns
ECB President Mario Draghi warned on Wednesday (10 April) that the uncertainty around Brexit was weighing on the eurozone’s growth but said he was still “hopeful” that major disruptions could be averted.