Euro & Finance
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.
Eurozone 2020: The race against the clouds
After seven years of growth, the eurozone's outlook is deteriorating. There is a risk of a recession if the trade war with Washington worsens, while member states continue to disagree over the completion of the economic and monetary union that would help them cope with a downturn.
Germany’s incoming ECB board member opposes pumping cash into green assets
The European Central Bank should not favour so-called "green" assets in its multi-trillion-euro bond-buying programme or its work as bank supervisor, incoming ECB board member Isabel Schnabel said in an interview published on Monday (30 December).
Italy delays presentation of plan to sell Monte Paschi stake
Italy will delay to early 2020 the presentation of a plan to sell its stake in Monte dei Paschi di Siena, the Treasury said on Sunday (29 December), as the bank struggles to shed bad loans.
ECB’s Knot says low rate policy risks becoming counterproductive
Interest rates in the eurozone could remain historically low for years, but the European Central Bank's (ECB) ultra-loose monetary policy risks becoming counterproductive, ECB governing council member Klaas Knot said in an interview published on Monday (23 December).
So you think the banking crisis is over? Sorry to spoil your Christmas!
The stock market is flashing ever-stronger orange about the health of Europe’s banks. Yet the regulatory community tells us good news about its capital strength – despite unsustainably low profitability. Fingers crossed for a muddle through!
Brussels lowers expectations about ‘green’ overhaul of Stability and Growth Pact
The European Commission is cautious about loosening EU fiscal rules in order to incentivise ‘green’ investment by member states. Valdis Dombrovskis, the Commission Vice-President for the economy, said on Tuesday (17 December) he wants to avoid “divisive” issues.
Pension schemes in EU show big shortfalls in stress test
A stress test of pension schemes across the European Union wiped out €270 billion or almost a quarter of investments at funds that took part, the EU's insurance and pensions watchdog said on Tuesday (17 December).
Conte buys Italy’s government more time over eurozone bailout fund
Italy's prime minister Giuseppe Conte claimed victory on Friday (13 December), after changing the wording of the Euro summit's conclusion postponing a final agreement on the reform of the eurozone bailout fund.
Costa and Centeno clash over euro budgetary instrument
Tensions between Portuguese prime minister, Antonio Costa, and his finance minister and Eurogroup president, Mario Centeno erupted in front of EU leaders on Friday (13 December) as the two clashed over the design of the eurozone budgetary instrument .