EMU
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.
Greece gets €1 billion in return for reform progress
The eurozone finance ministers approved on Friday (5 April) the disbursement of €970 million to Greece, following the country's successful implementation of outstanding measures agreed as part of its post-bailout monitoring.
Brussels was right about Italy’s weak growth, Juncker says
It is an overstatement to claim that Italy’s debt constitutes a risk for global markets, but a zero-growth rate can only worsen Rome's problems, European Commission President Jean-Claude Juncker said in an interview with state broadcaster RAI on Sunday (31 March).
Lagarde urges European leaders to agree on common guarantee for savings
The Managing Director of the International Monetary Fund, Christine Lagarde, called on eurozone leaders on Thursday (28 March) to complete the banking union by reaching an agreement on the European Deposit Insurance Scheme (EDIS).
Brussels ‘really worried’ about Italy’s slowing economy
The EU warned Sunday (24 March) of a new row brewing with Italy over its budget, barely a few months after both sides agreed on a hard-fought deal with Rome's disputed 2019 finances.
EU court shields ECB from disclosing key document in Greek crisis
The European Union's court on Tuesday denied access to a European Central Bank (ECB) document which underpinned its decision to freeze vital funding to Greek banks in 2015, a turning point in the country's financial crisis.
Eurogroup keeps anti-shock capacity for eurozone budget off the table
Eurogroup president Mario Centeno said late on Monday (11 March) that the future eurozone budget would not include a stabilisation function, despite insistance by France and a handful of other countries to broaden its scope.
The Franco-German proposal for a ‘eurozone budgetary instrument’, in detail
France and Germany tabled a joint proposal on Thursday (21 February) to establish a new "eurozone budgetary instrument" that would support national reforms and investments in the single currency bloc.
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.
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.