Euro & Finance
Poland ready to drop EU budget veto for EU summit declaration on rule of law
Poland would be ready to drop its veto to the EU's €1.8 trillion financial package if EU leaders endorse an explanatory declaration on the link between EU funds and the rule of law, Poland's deputy Prime Minister Jaroslaw Gowin said.
The Brief, powered by APPLiA – When a bailout fund needs a backstop
Hurriedly set up a decade ago as a special purpose vehicle domiciled in Luxembourg, the European Stability Mechanism looks and sounds like a relic of crises past. After being at the centre of attention for the bailouts of five eurozone...
EU plans two summits with US next year, aiming to forge new alliance in face of China
The European Union has invited US President-elect Joe Biden for two summits – one virtual, and one in person – in the first half of next year to discuss "strategic" issues ranging from the COVID crisis to climate change, peace and security, an EU source has said.
The ECB Strategy Review – exorcising the ghosts of crises past
The European Central Bank's strategy review is a chance for the EU to exorcise its past mistakes in developing monetary union, writes Anna Peychev.
Hungarian, Polish PMs to discuss EU budget veto
Hungarian Prime Minister Viktor Orbán will hold talks with his Polish counterpart in Budapest Thursday (26 November) on their recent EU budget veto, as Orbán suggested a possible solution to the row.
Michel: G20 must move on debt restructuring programme
European Council President Charles Michel on Friday (20 November) called on G20 leaders to create “a new model of sustainable finance” to avoid sovereign defaults in the wake of the COVID-19 crisis.
Inconclusive video summit hashes over EU budget hurdle, vaccines
EU leaders said Thursday (19 November) they would intensify efforts to convince the Prime Ministers of Poland and Hungary to drop their veto of the EU coronavirus economic recovery plan, which has plunged the bloc into a new crisis.
Lagarde vows to act ‘with determination’ against second wave
European Central Bank President Christine Lagarde said on Thursday (19 November) that the institution will act "with determination” against the second wave of the pandemic, ahead of the new monetary stimulus she is expected to announce in December.
Row over rule of law infects EU virus summit
Hungary and Poland’s opposition to Brussels’ oversight over the rule of law will be top of the EU summit agenda Thursday (19 November), sidelining efforts to tackle the coronavirus epidemic. EU member states had planned to share the lessons learned...
The Brief, powered by EHFG – Let’s talk about debt, but not just yet
With millions of Europeans having seen their paycheques and balance sheets cushioned by furlough money and no-strings-attached loans, it might be easy to think that the so-called ‘magic money tree’ not only exists but is laden with bountiful riches. Like...
Commission green-lights extra spending to avoid double-dip recession
The European Commission has given its blessing to the draft budgetary plans submitted by the 19 eurozone countries, containing the extra spending to combat the risk of a new recession, but warned about the growing imbalances in many EU economies.
Can EU save recovery plan from Hungarian-Polish blockade?
EU nations are again at loggerheads over their seven-year budget and coronavirus recovery plan, as Hungary and Poland attempt to block provisions tying payouts to upholding the rule of law.
Hungary and Poland veto stimulus against pandemic
Hungary and Poland blocked the approval of the EU’s seven-year budget and the recovery fund totalling €1.81 trillion, as both countries continued to oppose the rule of law mechanism attached to the EU funds.
Finance: becoming green while in the red
Money talks, but it also needs to listen: listen to the demand for change for a financial system that takes account of non-financial issues, from climate change to social inclusion, writes Commissioner Mairead McGuinness.
Hungary’s Orban threatens EU budget veto over rule-of-law
Hungarian Prime Minister Viktor Orbán has threatened to veto an EU accord linking the bloc's long-term budget to a mechanism requiring countries to uphold Europe's democracy rules, according to an EU source on Sunday (8 November).
Euronext considers changes after customer anger over outages
Pan-European exchange Euronext said on Thursday (5 November) it was listening to calls from top banks and asset managers about finding a way to trade on alternative platforms when there are lengthy outages like last month.
European recovery slows downs amid high uncertainty
The European Commission revised downwards its expectations about the European recovery as the impact of the second wave of COVID-19, and the uncertainty about how it will evolve further, will weigh on the fragile economies.
Commission expects recession to worsen in hard-hit Spain
The Spanish economy’s woes will worsen as GDP is expected to fall by 12.4% this year, according to the European Commission’s latest forecast to be published on Thursday, EU officials told EURACTIV.
Eurogroup excludes additional EU stimulus against second virus wave
Eurozone finance ministers said late on Tuesday (3 November) that Europe “is now better equipped” to address the COVID-19 crisis and ruled out new joint measures to tackle the second wave of the virus.
Parliament pushes for easing recovery fund conditionality
The European Parliament will fight to loosen the conditionality required from national governments in order to receive money from the EU recovery fund, according to the negotiating position MEPs will adopt this week.
Are we one step closer to the Capital Markets Union?
The European Commission continues to show a lack of ambition when it comes to constructing a Capital Markets Union, writes Isabel Benjumea.
Commission readies implementation of sustainable finance
The European Commission will detail in the coming weeks what could be considered a ‘green’ activity, a technical definition that would help to unlock the massive investment needed to achieve the EU's climate objectives.
Parliament and Council near agreement on rule of law conditionality
The European Parliament and the Council were close to reaching an agreement on Thursday (29 October) on the Rule of Law conditionality attached to EU funds, but they continued to disagree on how to trigger the mechanism.