Commitments have to be respected, EU tells Greece

Greece will now be “a normal country” but the reforms and the ambitious fiscal targets agreed with its lenders must be respected,  the Commissioner for economic affairs, Pierre Moscovici, said on Monday, the day the Hellenic nation exited its bailout programme.

Has the eurozone learned from its Greek odyssey?

Greece will formally turn the page on its debt saga this week, but the eurozone remains vulnerable to further crises, with economists particularly worried about the situation in Italy.

Greece’s unemployment falls under 20% after 7 years of bailout

Greece's unemployment rate, the highest in the European Union, has dropped below 20% for the first time in seven years, statistics bureau Elstat reported on 9 August.

Italy’s economy minister: Lower growth, higher deficit next year

Italy on Wednesday (8 August) cut its forecasts for economic growth and said the country's public deficit this year and in 2019 would be larger than previously forecast, potentially lining it up for a clash with Brussels.

Renewed Italian government tensions fuel bond selloff

Short-dated Italian government bonds sold off on Friday (3 August) for the second straight day on signs of deepening tension within the Italian government that is raising the prospect of new elections.

European markets sink as trade war fears build

European equities markets were in the red on Thursday as trade war fears ratcheted higher after the United States said it was looking at more than doubling threatened tariffs on a range of Chinese imports.

Bank of England poised to raise rates in the face of Brexit risk

The Bank of England looks set to raise interest rates on Thursday (2 August) to their highest level since the financial crisis, defying warnings that it is taking a gamble ahead of Brexit, the terms of which remain unclear.

Sanchez loses key vote as junior allies revolt against minority government

Spain’s socialist government lost on Friday (27 July) a key vote on the revised fiscal path to balance the public accounts, as Pedro Sanchez’s allies abstained calling into question the survival of his fragile minority.

Political scientist: Germans are used to V4’s strong “No” from time to time

The EU's stand on migration policy is moving towards the demands of the Visegrad group, one of the best functioning groups in the bloc, says Dr Kai-Olaf Lang, adding that in many respects, Germany and V4 are much closer to each other today than Germany and France.

IMF concerned over global trade war

The International Monetary Fund continues to project global growth at 3.9%  in 2018, but a rise in trade tensions “are an important downside risk”. EURACTIV’s partner La Tribune reports.

France rolls out the red carpet for finance sector post-Brexit

France's prime minister presented new measures to appeal to financial circles, which are currently considering their post-Brexit options. EURACTIV’s partner La Tribune reports.

Bulgaria edges closer to joining euro

Bulgaria, the European Union's poorest country, moved a step closer to joining the euro yesterday (12 July).

Trade war starts to dent European growth

The European Commission cut expected EU growth for this year by 0.2% compared to its forecast less than three months ago, as output was weaker than expected during the first semester and external risks, especially the trade war, are on the rise.

Commission rejects auditors’ call to tighten control of EU member states’ debt

The European Commission has rejected the European Court of Auditors’ recommendation to strengthen surveillance of EU member states with high levels of public debt.

Commission approves close surveillance of Greece after bailout

The European Commission adopted a set of measures on Wednesday (11 July) to closely monitor Greece's fiscal policy after it concludes an eight-year-long bailout programme on 20 August, closing one of the darkest chapter's in the single currency's short history.

Eurosceptic minister: Italy needs to be ready for ‘all eventualities’ on euro

European Affairs Minister Paolo Savona said yesterday (10 July) that Italy had to be ready for "all eventualities" regarding its membership of the eurozone, which might depend on factors outside its control.

Greek minister: Neoliberalism and xenophobic far-right are ‘two sides of the same coin’

A broad progressive front should be established in order to face rising extreme-right ahead of the EU election in 2019 Greece's Alternate Economy Minister Alexis Charitsis told EURACTIV.com, adding that neoliberalism and far-right are “two sides of the same coin”.

Germany poses ‘real problem’ when protecting bank savers with European guarantee, says official

A senior EU official said on Tuesday (10 July) that an agreement on a European Deposit Insurance Scheme (EDIS) to protect savers across the bloc would be “very hard” given Berlin’s opposition.

Draghi urges countries to complete banking union as risks fall

European Central Bank President Mario Draghi urged eurozone member states to complete the banking union with a European Deposit Insurance Scheme, noting the “substantial” reduction of risks in the banks’ balance sheets and the benefits of risk-sharing.

Moscovici warns Mitsotakis not to undermine Eurogroup’s deal on Greece

EU Economics Commissioner Pierre Moscovici has warned Greek conservative opposition leader Kyriakos Mitsotakis not to undermine the credibility of Greece's deal with the Eurogroup and the exit of the country from the bailout “for reasons of internal politics”.

New Democracy scolds Moscovici for backing clean exit from bailout

Greece’s conservative main opposition party “recommended” to EU Commissioner for Economic and Financial Affairs Pierre Moscovici to be “more careful” in his public speeches when he praises the government and the country’s exit from the bailout.

Kurz pledges to shield Schengen as border dispute unfolds

Austrian Prime Minister Sebastian Kurz prioritised the protection of the external borders during his country's EU Presidency stint, in order to safeguard the Schengen area, as a recent deal between Germany’s conservative parties could lead to a resurrection of the bloc's internal borders.

The Brief – Macron’s faltering European dreams

Macron’s European dream ran into a wall of national politics at last week's EU summit. A swing to the right of the European agenda appeared to trump the in-depth economic reforms championed by the French president. EURACTIV.fr reports.

EU leaders postpone completion of banking union

Despite previous promises to achieve results on eurozone reforms in June, EU leaders postponed until December an agreement on the backstop to wind down failing banks and did not include any date for starting discussions on a European deposit guarantee scheme.