Euro & Finance
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.
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.
LIVE: Migration, eurozone test EU unity at fateful June Summit
EU leaders are meeting on 28-29 June to bash out a solution to the divisive issue of migration, which should help Chancellor Angela Merkel preserve her fragile government, and lay the groundwork for a scaled-down package of eurozone reforms wanted by French President Emmanuel Macron.
Five things to expect from the EU summit on June 28-29
European Union leaders meet this week to deal with some of the most difficult issues they confront, with migration topping the list. German Chancellor Angela Merkel’s political survival may depend on Italy’s new anti-establishment government, whose interests clash with Germany’s...
Migration set to overshadow eurozone reform debate at EU summit
The political crises in Germany and Italy are European and revolve around the debate on migration, which is set to overshadow other issues during the European Council in Brussels, on 28-29 June. EURACTIV.fr reports.
The Brief – The hopeless deepening of the euro
Dutch Prime Minister Mark Rutte recently compared the EU to a giraffe. But for the author of this Brief, our Union rather looks like an old lady (or man if you wish) with heart problems, who ignores her doctor’s recommendations and instead focuses on her fictional back pain.
Money laundering accusations in Latvia cast doubt on ECB credibility
The Governor of the Latvian Central Bank, suspended by the Parliament, continues to face extraordinary accusations. The Commission has promised to set up a working group by the summer to tackle money laundering. EURACTIV.fr reports.
Eurozone reform: CDU split over Merkel’s plans
Parts of the German CDU party are highly critical of the joint reform plans proposed by their own Chancellor Angela Merkel and French President Emmanuel Macron. Her projects for the eurozone are the "wrong signal", they say. EURACTIV Germany’s media partner “WirtschaftsWoche” reports.
‘Differences’ persist on eurozone budget ahead of key EU summit
Eurogroup head Mário Centeno warned Monday (25 June) of differing opinions towards a plan by France and Germany to establish a eurozone budget, ahead of a key EU summit to discuss the matter.
Eurogroup reaches ‘historic’ deal on debt relief for Greece
In the early hours of Friday (22 June), the Eurogroup reached an “historic” deal on a debt relief for Greece, solving the last political hurdle to conclude its rescue programme after more than eight years.
A ”facelift” to the EIB: the EU financial arm needs forward-looking reforms
The European Investment Bank (EIB) celebrates this year its 60th anniversary. But the 1958-founded EU body and bank should now look forward and commit to becoming a more sustainable, accountable and transparent institution, writes Xavier Sol.
Spain pledges to ‘square the circle’ on public finances in Eurogroup debut
Spain's new Socialist government said on Thursday (21 June) it had “no reasons” to believe that it would miss its deficit target, despite a planned increase to pensioners’ benefits being questioned by the EU institutions.