Time for a stronger and more sustainable Economic and Monetary Union

Despite continuous efforts by all decision-makers to reform and strengthen the Economic and Monetary Union, the European Economic and Social Committee (EESC) believes that its architecture still remains to be completed, writes Stefano Palmieri.

EU leaves economic forecast unchanged despite risks

The European Commission kept unchanged its economic forecast for moderate eurozone growth for this year and 2021 despite the impact of looming risks, especially the coronavirus.

EU to give Turkey more time to avoid tax blacklisting

European Union diplomats have reached a preliminary agreement to give Turkey more time to meet tax transparency requirements, two diplomatic sources said, in a move that could weaken the bloc’s blacklist but at the same time avoid a new clash...

‘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.

A new tax deal for the EU

Cross-border tax evasion is a problem for the EU and there is no reason to exclude EU member states from the tax haven assessment. Therefore, the EU needs a New Tax Deal. Jan Sarnowski and Piotr Arak set out the principles that could guide it

Bulgaria changes legislation to join euro ‘waiting room’

Bulgaria's parliament adopted on Thursday (6 February) changes to the country's central bank law so as to allow its accession to the "waiting room" of the eurozone.

Why the ECB needs to look at helicopter money now

If Christine Lagarde is sincere in her conviction that the ECB’s strategic review should be open minded and “turn each and every stone”, she must persuade the Governing Council to open a discussion on helicopter money, argue Stanislas Jourdan and Eric Lonergan.

EU bank rides out Brexit impact ‘surprisingly well’, says EIB chief

Economic uncertainty caused by the UK’s imminent EU departure did not stop the European Investment Bank (EIB) having a record-breaking year in 2019, according to the bank’s president. Werner Hoyer said that the lender dealt with it “surprisingly well”.

EU eyes phasing out smallest euro cent coins

The European Commission is considering a proposal to phase out 1-euro cent and 2-euro cent coins, an EU document showed, in what would be a cost-saving move as the coins' production and handling costs often exceed their face value.

The Brief – Who will be the next Eurogroup president?

The race for the Eurogroup presidency is (unofficially) on and it is still unclear if the current holder, Portuguese Finance Minister Mario Centeno, will stay in the job. But the names of possible candidates to chair eurozone meetings during a critical period for the common currency are already doing the rounds.

Centeno: ‘I do see good reasons to support green investment under the fiscal rules’

Speaking to EURACTIV in Davos, Eurogroup President Mario Centeno remained hopeful about the eurozone's stalled reform process, saying there are “good reasons” to support ‘green’ investment as part of a broader review of EU fiscal rules due later this year.

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".

Merkel defends financial crisis management legacy before economic elite in Davos

German Chancellor Angela Merkel defended her tough stand and the austere fiscal policy she pursued in response to the financial crisis that shook up the eurozone in 2008 as she addressed the World Economic Forum on Thursday (23 January).

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.

The case for a border carbon tax as an own resource to the EU budget

To deliver on the flagship European Green Deal, there is a need to introduce a new source of revenues for the EU budget under the form of carbon tax, writes Ivailo Kalfin.

EU’s Breton looking into ‘non-conventional’ measures to finance Green Deal

The EU's internal market commissioner, Thierry Breton, suggests tapping into the ECB's "easy money" and issuing long-term bonds of up to 50 years in order to unlock the €1,000 billion needed to finance the European Green Deal. EURACTIV France reports.

IMF warns EU-US tensions could impact global growth 

Some “tentative signs of stabilisation” are appearing in the global economy, but despite the positive news the EU-US trade dispute represents a risk to the global output, the IMF warned on Tuesday (20 January).

In blow to Eurogroup head, EU Commission criticises Portugal’s budget

The European Commission said on Wednesday (15 January) that Portugal's draft budget for 2020 was at risk of breaking European Union fiscal rules because of insufficient progress in reducing its structural deficit.

No progress on reform of eurozone bailout fund until March

Reform of the eurozone bailout fund will remain frozen until at least March, a senior official said on Wednesday (15 January), as governments are still divided over technical details on bond restructuring.

EU Central Bank should step up its climate act, French MEP says

In an interview with EURACTIV France, socialist MEP Pierre Larrouturou deplored the meagre €7.5 billion proposed in the European Commission's Just Transition Fund. To finance EU climate action, he suggests some of the ECB's "easy money" could fuel the European Investment Bank (EIB) instead of going into private banks.

Croatia highlights its Schengen and Eurozone ambitions

Croatian Prime Minister Andrej Plenković made it clear that Croatia, the latest EU newcomer, wants to join as soon as possible the Union’s inner circles – the borderless Schengen space and the Eurozone.

The Brief, powered by MPE – An empty tool-box

‘We’ve run out of money’ is the message influential central bankers are passing on to government leaders.

Eurozone growth driven by services, weighed down by industry slump

While the eurozone's private sector stagnated until December 2019, the manufacturing sector saw a prolonged slump. It is the services sector that continues to drive the Eurozone's growth. EURACTIV's partner La Tribune reports.