Euro & Finance

Economy & Jobs 09-07-2020

Election day: Calviño and Donohoe neck and neck in Eurogroup race

Eurozone finance ministers are split on whether to pick their Spanish colleague Nadia Calviño or Ireland’s Paschal Donohoe as the next Eurogroup president during a videoconference on Thursday (9 July), EU sources and diplomats told EURACTIV.com.
Economy & Jobs 09-07-2020

German financial watchdog under fire following Wirecard scandal

The balance sheet scandal surrounding the payment company Wirecard raises many questions. Politicians are currently vigorously pursuing one of them: Where were the supervisory authorities? EURACTIV Germany reports.
Economy & Jobs 08-07-2020

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.
Economy & Jobs 08-07-2020

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.
Economy & Jobs 08-07-2020

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).
Economy & Jobs 07-07-2020

Italy, Spain and France worst performers as recession deepens

Italy, Spain and France will register the worst economic downturn among eurozone countries this year as the contraction will be more severe than previously expected, according to the latest European Commission forecast published on Tuesday (7 July).
Economy & Jobs 02-07-2020

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.
Economy & Jobs 01-07-2020

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.
Economy & Jobs 30-06-2020

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.
Aviation 26-06-2020

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.
Economy & Jobs 26-06-2020

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. 
Economy & Jobs 25-06-2020

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...
Economy & Jobs 25-06-2020

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.
Economy & Jobs 23-06-2020

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.
Economy & Jobs 23-06-2020

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.
Economy & Jobs 23-06-2020

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.
Economy & Jobs 19-06-2020

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. 
Economy & Jobs 19-06-2020

Fiscal adjustment needed to unlock recovery funds, EU official warns

EU leaders will discuss for the first time on Friday (19 June) the €750 billion recovery fund proposed by the Commission to overcome the coronavirus crisis. But in order to access EU aid, member states will have to bring down their ballooning public debt, an EU official explained.
Economy & Jobs 18-06-2020

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.
Economy & Jobs 18-06-2020

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.
Economy & Jobs 17-06-2020

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.
Economy & Jobs 16-06-2020

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).
Economy & Jobs 15-06-2020

IMF’s Georgieva: Kudos to Europe for the recovery fund

The managing director of the International Monetary Fund, Kristalina Georgieva, congratulated the EU for stepping up its collective response to the COVID-19 crisis with the proposed €750 billion recovery fund, but cautioned that the proposal will first have to survive “long nights of negotiations".
Contribute