Euro & Finance

Economy & Jobs 02-04-2020

Netherlands, Austria push for tougher conditions for corona-loans

The Hague and Vienna are insisting on including stricter conditionality attached to loans for coronavirus-hit countries, toughening up the formula proposed by the eurozone’s bailout fund (ESM) and seen by EURACTIV.com.
Economy & Jobs 02-04-2020

Debts can be returned unlike human lives, Tsipras says

Human lives do not come back unlike public debts which can be returned, former Greek Prime Minister Alexis Tsipras wrote in an op-ed for Le Monde.
Economy & Jobs 01-04-2020

This is how the EU’s €100 billion corona-fund will work 

Member states will provide guarantees to raise up to €100 billion for a new temporary fund to support workers in hard-hit countries affected by coronavirus, such as Italy and Spain, according to the proposal seen by EURACTIV.com.
Banking union 01-04-2020

Authorities call on bankers to adjust bonuses in response to pandemic

Banking authorities are calling on European banks to cut their bonuses for this year in order to reflect the impact of the coronavirus and dedicate more resources to the real economy.
Economy & Jobs 01-04-2020

‘We are writing history, not an economics textbook’, Conte tells Germans

In an interview with German TV channel ARD, Italy’s Prime Minister Giuseppe Conte called on Europe to show "common house" and demonstrate it can respond to the epoch-making challenge of coronavirus.
Economy & Jobs 01-04-2020

Eurogroup to discuss EU-wide unemployment reinsurance scheme

The European Commission is planning to present to EU finance ministers next week its pan-European unemployment reinsurance scheme proposal to support the most affected countries by the coronavirus.
Economy & Jobs 31-03-2020

EU Commission expects deeper recession than in 2009

The economic slump caused by the coronavirus COVID-19 is expected to be deeper than the 2009 Great Recession, according to a European Commission document seen by EURACTIV.
Economy & Jobs 31-03-2020

Brussels seeks ‘consensual’ economic response to COVID-19 crisis, shifting away from coronabonds

With "all options on the table", European Commission president Ursula Von Der Leyen is looking at a consensual response among member states to the economic fallout from the COVID-19 crisis, her spokesman said on Monday (30 March), shifting away from controversial debt mutualisation advocated by Italy.
Economy & Jobs 30-03-2020

France puts dividends payments into ‘confinement’ amid COVID-19 crisis

The French government intends to prohibit the payment of dividends to companies receiving state funding. While this would remain a partial ban, many are eager to see it become generalised in the context of the health and economic crisis. EURACTIV France reports.
Economy & Jobs 27-03-2020

Leaders clash over stimulus against pandemic, pass hot potato to Eurogroup

EU leaders on Thursday (26 March) continued to disagree over the economic response to the coronavirus as Northern countries rejected the idea of issuing joint debt, known as "corona bonds", proposed by nine member states to finance the recovery.
Coronavirus 26-03-2020

France wants EU to win virus ‘communications battle’

European solidarity is being put to the test as some EU member states are not supporting the idea of 'corona bonds' and the EU's approach to communicating with the public about the crisis remains too discreet, according to Paris. EURACTIV France reports.
Global Europe 26-03-2020

EU warns virus could expose firms to foreign buy outs

The head of the European Commission warned Wednesday (25 March) that the economic aftermath of the coronavirus could leave strategic private sector firms exposed to foreign takeovers.
Economy & Jobs 26-03-2020

Germans and Dutch set to block EU ‘corona bonds’ at video summit

Germany and the Netherlands will lead opposition to issuing joint bonds to help revive the European Union economy from a deep slump caused by the coronavirus when the bloc's national leaders discuss emergency assistance on Thursday (26 March).
Economy & Jobs 26-03-2020

German parliament suspends debt brake to fight coronavirus outbreak

The German lower house on Wednesday (25 March) suspended the country's constitutionally enshrined debt brake, approving a massive stimulus package by Chancellor Angela Merkel's government to weather the economic fallout from the coronavirus outbreak.
Economy & Jobs 25-03-2020

Eurogroup nearing agreement to use bailout fund against pandemic

Countries of the euro area are close to an agreement to use the European Stability Mechanism to provide credit lines of up to 2% of their GDP to tackle the consequences of the coronavirus COVID-19.
Coronavirus 24-03-2020

COVID-19: France wants to activate EU bailout fund without conditions or delay

The financial crisis management tool of the eurozone countries must be activated without delay and without conditions, said French Economy Minister Bruno Le Maire before the Eurogroup meeting on Tuesday (24 March). EURACTIV France reports.
Economy & Jobs 24-03-2020

EU countries warn of ‘severe economic downturn’, suspend Stability Pact

EU member states took the unprecedented decision to suspend the Stability and Growth Pact obligations on Monday (23 March), in order to allow billions of euros in extra spending to mitigate the "severe economic downturn" caused by the coronavirus.
Economy & Jobs 20-03-2020

Commission proposes unprecedented suspension of EU’s fiscal rules 

The European Commission proposed for the first time on Friday (20 March) the activation of the general escape clause that would ‘pause’ the adjustments member states have to do to meet their fiscal targets and allow them to spend "as much as they need".
Economy & Jobs 20-03-2020

EU open to ‘coronabonds’ to cushion economic fallout – von der Leyen

The European Commission is ready to consider backing common debt issuance in the eurozone to help the bloc weather the massive economic impact of the coronavirus outbreak, its president said on Friday (20 March).
Economy & Jobs 20-03-2020

Only five member states meet key money laundering deadline

A large majority of members states failed to introduce by 10 January public registers to reveal the true owners of all companies based in their countries, as part of the fight against money laundering, a report published on Friday (20 March) revealed.
Economy & Jobs 20-03-2020

Italy’s Conte calls for EU’s ‘full firepower’ against virus

Italian Prime Minister Giuseppe Conte called Friday (20 March) for the European Union to tap the "full firepower" of its rescue fund to combat the coronavirus outbreak.
Economy & Jobs 20-03-2020

France’s budget deficit could skyrocket to 7% of GDP in COVID-19 aftermath

The French government continues to announce stimulus spending, as well as support measures for companies, employees and the research sector worth billions to mitigate the COVID-19 crisis. Although necessary, those measures could send the country's budget deficit through the roof, EURACTIV France reports.
Coronavirus 19-03-2020

ECB unveils €750 billion stimulus against coronavirus

The European Central Bank unexpectedly announced just before midnight on Wednesday (18 March) that it would spend €750 billion in bond purchases to calm down sovereign debt markets, in the strongest signal in the euro area to date that it was ready to fight against the economic fallout of the coronavirus.
Economy & Jobs 19-03-2020

Germany and Netherlands ‘open’ to considering ‘coronabonds’ 

Germany and The Netherlands, two of the most staunch opponents to the idea of issuing common debt in the eurozone, would be “open” to discuss eurobonds to mitigate the economic impact of the coronavirus COVID-19.

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