EMU

Economic governance 12-02-2020

‘Too early to assess’ the economic impact of coronavirus, Commission says

The European Commission won't consider the effects of the coronavirus outbreak in its updated growth forecast, expected on Thursday (13 February), saying it is "too early" to estimate the impact of the virus on the region’s output, EU sources told EURACTIV.
Economic governance 24-01-2020

IMF warns of the risk of central banks’ ‘cheap money’

The monetary stimulus has been one of the main engines of growth over the past years, but continuing with the supply of 'cheap money' could hurt low-income countries, fuel risky investments and affect savers, warned the IMF on Friday (24 January).

ECB’s Lagarde warns of ‘danger of doing nothing’ on climate

ECB chief Christine Lagarde on Thursday (23 January) said the bank would study what role it could play in combatting climate change as part of a major policy review, warning of "the danger of doing nothing".
Economic governance 22-01-2020

IMF calls for ‘more automatism’ in public spending

As monetary policy nears its limits to lift the world's sluggish economy, the International Monetary Fund told governments on Tuesday (21 January) to introduce "more automatism" in their fiscal rules in order to counter the economic slowdown.
Economy & Jobs 02-01-2020

Eurozone 2020: The race against the clouds

After seven years of growth, the eurozone's outlook is deteriorating. There is a risk of a recession if the trade war with Washington worsens, while member states continue to disagree over the completion of the economic and monetary union that would help them cope with a downturn.

Germany’s incoming ECB board member opposes pumping cash into green assets

The European Central Bank should not favour so-called "green" assets in its multi-trillion-euro bond-buying programme or its work as bank supervisor, incoming ECB board member Isabel Schnabel said in an interview published on Monday (30 December).
Economy & Jobs 18-12-2019

Brussels lowers expectations about ‘green’ overhaul of Stability and Growth Pact

The European Commission is cautious about loosening EU fiscal rules in order to incentivise ‘green’ investment by member states. Valdis Dombrovskis, the Commission Vice-President for the economy, said on Tuesday (17 December) he wants to avoid “divisive” issues.
Economy & Jobs 13-12-2019

Conte buys Italy’s government more time over eurozone bailout fund

Italy's prime minister Giuseppe Conte claimed victory on Friday (13 December), after changing the wording of the Euro summit's conclusion postponing a final agreement on the reform of the eurozone bailout fund.
Economic governance 13-12-2019

Costa and Centeno clash over euro budgetary instrument 

Tensions between Portuguese prime minister, Antonio Costa, and his finance minister and Eurogroup president, Mario Centeno erupted in front of EU leaders on Friday (13 December) as the two clashed over the design of the eurozone budgetary instrument .
Economy & Jobs 13-12-2019

ECB to embark on soul-searching process in 2020 

The European Central Bank will next year review its tools and objectives in order to better fulfil its mandate of price stability, and it also intends to assess the appropriateness of issuing its own digital currency, in the face of growing concerns about Facebook’s Libra.
Economy & Jobs 09-12-2019

Inflation, climate, jargon: ECB launches major review

The European Central Bank's new president Christine Lagarde has announced that the Frankfurt-based institute will soon undertake a strategic review, its first since 2003.
Economy & Jobs 04-12-2019

Ministers set to advance Eurozone reform amid political turmoil in Italy and Germany

EU ministers gather Wednesday (4 December) in a bid to chart progress on the Eurozone reform ahead of the EU Council summit next week. However, recent political developments in Rome and Berlin may hinder talks on the matter.
Economy & Jobs 03-12-2019

Italy’s Conte rebukes opposition as debate over ESM reform heats up

Italian prime minister Giuseppe Conte called upon the right-wing opposition to act responsibly in talks over the reform of the eurozone bailout fund, the European Stability Mechanism (ESM).
Economy & Jobs 03-12-2019

ECB to review its mandate with ‘open mind’, Lagarde says

The European Central Bank (ECB) will embark on a strategic review of its mandate and instruments to achieve its inflation target of 2% with an “open mind”, its president Christine Lagarde said on Monday (2 December).
Economy & Jobs 19-11-2019

Merkel ignores calls for bigger fiscal stimulus

German chancellor Angela Merkel resisted calls to increase public spending as pressure continues to grow from her country and abroad to avoid the austerity that worsened the euro crisis.
Banking union 08-11-2019

German plan brings ‘new impetus’ to banking union, Eurogroup says

Finance ministers on Thursday (7 November) welcomed a German initiative to unblock proposals for a common bank deposit guarantee scheme in the eurozone, but questioned Berlin's request to ask additional capital buffers in return for banks holding sovereign debt.
Economy & Jobs 07-11-2019

As economy slows, Commission tells member states to be ready for ‘all scenarios’

EU member states should be prepared for “all scenarios” as the European economy continues to decelerate, and is not expected to pick up in the near future, the European Commission warned in its latest economic forecast published on Thursday (7 November).
Banking union 07-11-2019

Scholz’s proposal to complete EU banking union greeted with cautious optimism 

European decision makers welcomed on Wednesday (6 November) German finance minister Olaf Scholz’s attempt to unlock the European Deposit Insurance Scheme (EDIS) proposal, but warned of the long process still ahead to reach an agreement.
Klaus Regling, CEO of the European Stability Mechanism, at the Eurogroup, 19 June 2014 [Photo: Council of the EU]
Economy & Jobs 30-10-2019

Eurozone equipped to save big economies, says euro rescue fund chief

The European Stability Mechanism, the euro area’s rescue fund, would have enough firepower to save large economies if necessary, including Italy, the fund’s chief Klaus Regling said on Tuesday (29 October).
Economy & Jobs 29-10-2019

Draghi attempts to heal divided ECB in farewell speech

Departing ECB president Mario Draghi tried to restore unity among eurozone central bankers  in his farewell speech on Monday (28 October) but he continued to defend his recent controversial monetary decisions.
Economy & Jobs 24-10-2019

Draghi’s farewell demand: the eurozone budget

Outgoing European Central Bank President Mario Draghi stressed in his farewell press conference on Thursday (24 October) that a truly eurozone budget “with an adequate size" would be the number one issue to fix in the eurozone. 
Economy & Jobs 24-10-2019

EU grandees send Draghi to ‘euro pantheon’

European Central Bank President Mario Draghi chairs his last governing council on 24 October, before Christine Lagarde takes over on 1 November. EURACTIV contacted eight politicians, decision-makers and analysts from different countries to review Draghi's eight-year mandate at the ECB.
Economy & Jobs 22-10-2019

EU investment plan helped create 1.1 million jobs

Outgoing European Commission president, Jean-Claude Juncker, announced on Tuesday (22 October) that the investment plan launched at the beginning of his mandate helped create 1.1 million jobs in Europe and boosted the European economy by 0.9%.
Economic governance 22-10-2019

Commission tells member states to adjust their economies further

The European Commission is putting the final touches to a number of letters to various national governments that are at risk of missing their fiscal targets for 2020. Brussels wants more information on how they intend to to balance their public finances.

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