About: economic crisis
Worker participation in management can be stabilising factor, expert argues
Worker participation in the management can be a stabilisation factor in times of crisis, according to a recent study conducted by the Institute for Codetermination and Corporate Governance. EURACTIV has interviewed the co-author and political adviser on the matter, Sebastian Campagna.
How to solve the crisis? Strengthen workers’ voices.
In a matter of a few weeks, the political challenges facing Europe have changed dramatically, with the unfolding health and economic crisis. In the previous economic turmoil, our collective response was to weaken the rights of the worker. This time it must be different, argue Danish MEPs Marianne Vind, Nikolaj Villumsen and Kira Marie Peter-Hansen.
Italy pledged aid to 2.3 million workers. Just 29,000 have got it
Looking to save lives and stop the coronavirus by shutting down the nation, the Italian government told workers in March: you stay home and we will pay most of your lost wages.
Ukrainian businessmen demand easing of lockdown and government support
Several hundred businessmen, many of them wearing protective face masks, called for an easing of Ukraine's coronavirus lockdown in a protest near the government building on Wednesday (29 April).
Fitch cuts virus-hit Italy’s credit rating to just above junk
Rating agency Fitch cut Italy's credit rating to "BBB-minus" on Tuesday (28 April), just one notch above junk, saying the downgrade reflects the impact of the coronavirus pandemic on the euro zone's third largest economy.
From Prosecco to Chianti, coronavirus sours Italy’s wine sales
With Italy's restaurants and bars closed for another month and global trade snuffed out by the coronavirus, the world's top wine producing country is experiencing an existential crisis.
Germany agrees to more cash to shield workers, companies from coronavirus hit
Germany's coalition parties on Thursday (23 April) agreed to further measures worth some €10 billion to shield workers and companies from the impact of the coronavirus pandemic.
ECB says could accept ‘junk’ bonds as collateral for loans
European Central Bank governors agreed Wednesday (22 April) that banks could put up so-called "junk" bonds as collateral when borrowing from the Frankfurt institution, in case eurozone governments and firms see their credit ratings downgraded as they grapple with the coronavirus pandemic.
Merkel open to bigger EU budget, bonds to finance post-crisis recovery
German Chancellor Angela Merkel signalled readiness on Monday (20 April) to finance economic recovery in Europe from the coronavirus pandemic through a bigger European Union budget and the issuance of joint debt via the European Commission.
Conte doubles down on demand for coronabonds
The "full firepower" of the European Union will be needed to overcome the historic shock of the coronavirus crisis, Italian Prime Minister Giuseppe Conte told German media Sunday (19 April), repeating calls to pool European debt.
McKinsey predicts near doubling of unemployment in Europe
Unemployment in Europe could nearly double in the coming months, with up to 59 million jobs at risk from permanent cutbacks as well as reductions in pay and hours because of the coronavirus pandemic, estimates from consultancy McKinsey said.
Finland’s Finance Ministry says economy could shrink up to 12% in 2020
Finland's Finance Ministry forecast the economy on Thursday (16 April) to contract by at least 5.5% in 2020, and said it could shrink by as much as 12% if restrictions related to the coronavirus were to last for six months.
EU aims to bar ‘predatory’ takeovers of weakened firms
EU trade ministers vowed on Thursday (16 April) to protect strategic European companies weakened by the virus-triggered downturn from "predatory" takeovers.
G7 to coordinate economic reopening plans amid outbreak
G7 leaders on Thursday (16 April) pledged to work together to "safely" put people back to work as the coronavirus crisis drags on in a bid to revive the slumping global economy, the White House said.
Kazakhstan provides humanitarian aid to Kyrgyzstan, Tajikistan
In the context of the Covid-19 crisis, Kazakhstan has offered humanitarian aid to its Central Asian neighbours Kyrgyzstan and Tajikistan, answering a request by Bishkek and Dushanbe.
Austrian author and civil society activist outlines the way to a ‘common good economy’
Award-winning author Christian Felber believes the coronavirus outbreak is the perfect moment to question the entire system, after advocating for years to switch from capitalism to a public-interest economy. He explained his ideas in an interview with EURACTIV Germany.
IMF to raise funding to Georgia to $450 mln to fight coronavirus
The International Monetary Fund (IMF) said on Wednesday (15 April) it was ready to provide Georgia with increased funding of $450 million this year to help the ex-Soviet country in its fight against the coronavirus and support the economy.
EU could finance €1.5 trillion recovery fund with bonds: Dombrovskis
The European Union could finance a recovery fund worth up to €1.5 trillion with bonds guaranteed by member states, European Commission Vice President Valdis Dombrovskis told German newspaper Handelsblatt.
Coronavirus exit: Re-inventing the EU supply chain
This crisis is also teaching us logistical lessons, and particularly the need to produce things at home or closer to home. Eastern Europe remains competent and cheaper, and can make the difference in the EU supply chain, writes Radu Magdin.
Coronavirus to dominate agenda of Germany’s EU presidency
The coronavirus outbreak will dominate the agenda of the European Union when Germany takes over the rotating presidency of the Council of the EU in the second half of this year, German Foreign Minister Heiko Maas wrote in an opinion...
World faces new ‘Great Depression’ as virus toll mounts
World powers scrambled on Thursday (9 April) to build a global response to the human tragedy and once-in-a-century economic collapse caused by the coronavirus epidemic, as the worldwide death toll topped 90,000.
Aerospace giants face massive virus disruption to order books
The economic crisis caused by the coronavirus is also threatening the aviation industry. While Boeing's production of commercial aircraft is virtually at a standstill, Airbus intends to downsize production. EURACTIV's partner La Tribune reports.
EU ministers to agree virus rescue plan, not ‘coronabonds’
EU countries are nearing an economic rescue plan for European countries worst hit by the coronavirus outbreak, sources said on Monday (6 April), but not at the level of ambition called for by Italy and Spain.