Euro & Finance
Dutch ‘preachers and salesmen’ lead EU frugality drive
The Netherlands will be at the centre of upcoming talks over European spending on the coronavirus crisis, driven by a mix of traditional Calvinist frugality and political reality, experts say.
Italy will not accept ‘weak compromise’ on EU recovery fund, PM says
Italian Prime Minister Giuseppe Conte said on Tuesday (7 July) the European Union must act decisively to build a common response to the economic crisis caused by the COVID-19 pandemic, urging that support measures be activated rapidly.
EU to face difficulties without a deal on recovery plan, Budget Commissioner warns
If EU leaders fail to reach an agreement on a pandemic recovery package next week, “we will enter into difficulties,” the EU Commissioner for Budget, Johannes Hahn, warned during an event in Brussels on Tuesday (7 July).
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.
Europe’s hospitality sector makes last appeal ‘before it’s too late’
Hit hard by the pandemic, Europe’s hospitality sector is struggling to find a way out of the current chaos. Speaking to EURACTIV, its representatives have painted a bleak picture and called on governments to take immediate action to help the sector revive rapidly before it’s too late.
ECB stimulus plan meets court requirements, says German finance minister
The European Central Bank (ECB) has met the principle of proportionality with its flagship stimulus programme, Germany's finance minister and lawmakers said, ending a legal conflict that threatened to undermine central bank policy.
Dutch government unveils KLM rescue plan
The Netherlands' national airline, KLM, is set for a €3.4 billion bailout package should it meet certain employment, financial and sustainability targets, the Dutch government announced on Friday (26 June). It still requires regulatory approval from Brussels.
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.
Pubs ask for VAT cut on alcohol to face post-COVID reality
Europe’s hospitality sector has been hit hard by the lockdown measures enforced across the continent to contain the spread of COVID-19. In Belgium, pubs and restaurants were forced to shut down on 13 March. The Belgian government provided one-off payments and...
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.
EU leaders to hold summit on 17-18 July on virus recovery package
The leaders of the 27 EU member states will meet in Brussels on July 17, their first physical summit since the coronavirus lockdown began, to discuss an economic recovery package and the EU's next seven-year budget.
Commission to present ‘strong’ rules for Facebook’s Libra
The European Commission will present later this year new rules to develop a “sound” crypto-asset market in the EU, including for stablecoins such as Facebook’s digital currency Libra, financial services commissioner Valdis Dombrovskis, said on Tuesday.
Macron to discuss EU rescue plan with ‘frugal’ Dutch
French President Emmanuel Macron will visit the Netherlands Tuesday (23 June) for talks with Prime Minister Mark Rutte on a massive EU coronavirus recovery fund that has met with Dutch resistance.
Leaders pledge to agree on recovery package next month
EU leaders held “constructive” discussions on Friday on the EU’s €750 billion recovery fund to overcome the coronavirus crisis, and pledged to reach an agreement next month, despite the enormous differences among the member states.
Montchalin: €500 billion in budgetary allocations to ‘be maintained at all costs’
Ahead of tomorrow's EU summit (19 June), France's European Affairs Minister Amélie de Montchalin told EURACTIV's partner Ouest-France in an interview that the EU27, including the "frugal four", are moving towards accepting an EU recovery programme, but that it would not work without reforms and long-term investment.
Europe to push ahead with digital tax despite US ‘threats’
The European Commission plans to put forward a proposal for a digital tax if the international efforts fail this year after the US withdrawal, ignoring Washington’s threats if Europe moves ahead.
Conte reassures EU that virus recovery funds will be spent wisely
Italian Prime Minister Giuseppe Conte on Tuesday (16 June) sought to reassure Europe that forthcoming coronavirus recovery funds would be spent wisely to revive the battered economy after a crippling lockdown.
A warning from Bulgaria: Corruption channels are ‘eagerly awaiting’ big EU money
Experts and opposition-minded politicians warned during an online conference on Monday (January 15th) of a "huge" risk of corruption in connection with the generous funds the European Commission has proposed to mobilise in response to the coronavirus crisis.
Berlin to borrow €218.5bn to fund virus stimulus
The German government plans to take on €218.5 billion in new debt this year to pay for massive stimulus to help the country recover from the coronavirus impact, finance ministry sources said Monday (15 June).
Beer boss: Lowering VAT on alcohol would help hospitality sector revive quickly
Lowering VAT rates on alcohol across Europe would tremendously help the hospitality sector's efforts to turn the business around quickly and eventually recover from the disastrous economic impact of the COVID-19 pandemic, according to the Brewers of Europe.
Weaponizing transparency: Dealing with security risks of Chinese investments
Increasing transparency is a key measure to manage and mitigate many security risks posed by Chinese investments into sensitive sectors. Slovakia's experience in fighting shell corporations and oligarchs offers an example of how to do it, writes Matej Šimalčík.
Visegrad leaders call for ‘fair’ EU recovery fund
Four central European prime ministers called for a "fair" distribution of the EU's massive recovery fund on Thursday (11 June), at what has been dubbed the bloc's first major face-to-face political meeting since the coronavirus lockdown.
Spain’s Calvino boasts ‘key role’ in Eurogroup to support her candidacy
Spain’s minister of Economy, Nadia Calviño highlighted her “key role” in preparing the Eurogroup response to the COVID-19 crisis, as the eurozone finance ministers will pick a new president in early July.