Euro & Finance Archives

The Bank of England looks set to raise interest rates on Thursday (2 August) to their highest level since the financial crisis, defying warnings that it is taking a gamble ahead of Brexit, the terms of which remain unclear.

Spain’s socialist government lost on Friday (27 July) a key vote on the revised fiscal path to balance the public accounts, as Pedro Sanchez’s allies abstained calling into question the survival of his fragile minority.

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'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, the European Union's poorest country, moved a step closer to joining the euro yesterday (12 July).

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.

The European Commission has rejected the European Court of Auditors’ recommendation to strengthen surveillance of EU member states with high levels of public debt.

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.

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.

A broad progressive front should be established in order to face rising extreme-right ahead of the EU election in 2019 Greece's Alternate Economy Minister Alexis Charitsis told EURACTIV.com, adding that neoliberalism and far-right are “two sides of the same coin”.

A senior EU official said on Tuesday (10 July) that an agreement on a European Deposit Insurance Scheme (EDIS) to protect savers across the bloc would be “very hard” given Berlin’s opposition.

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.

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”.

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.

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.

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.

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.

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.

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 on …

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.

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.

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.

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.

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.