About: economic crisis

Economy & Jobs 04-08-2020

ECB committed to stimulus with outlook ‘highly uncertain’, chief economist says

The European Central Bank is committed to supporting the euro zone's economy amid the coronavirus pandemic, using its massive bond purchases as its main tool, chief economist Philip Lane said on Tuesday (4 August).
Economy & Jobs 02-06-2020

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. 
Economy & Jobs 30-04-2020

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.
Europe's East 30-04-2020

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).
Economy & Jobs 29-04-2020

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.
Agrifood 29-04-2020

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.
Economy & Jobs 23-04-2020

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.
Economy & Jobs 23-04-2020

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.
Economy & Jobs 21-04-2020

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.
Economy & Jobs 20-04-2020

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.
Economy & Jobs 20-04-2020

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.
Economy & Jobs 17-04-2020

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.
Economy & Jobs 17-04-2020

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.
Global Europe 17-04-2020

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.
Central Asia 16-04-2020

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.
Eastern Europe 16-04-2020

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.
Economy & Jobs 14-04-2020

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.
Economy & Jobs 13-04-2020

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...
Economy & Jobs 10-04-2020

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 07-04-2020

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.
Future EU 07-04-2020

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.
Global Europe 07-04-2020

Merkel warns on EU’s future as US braces for worst of virus

European leaders battling a deadly coronavirus outbreak are facing the "biggest test" to their union, Germany's leader said Monday (6 April), as the United States braced for what authorities warned would be its hardest week in living memory.
Economy & Jobs 06-04-2020

Belgian start-up scene calls for ‘life support’ amid COVID-19 crisis

More than 400 founders and leaders of Belgian start-ups have launched a call on the country's federal and regional governments to support startups and scaleups with additional government aid to avoid their decline during and after the coronavirus pandemic.
Europe's East 31-03-2020

Ukraine opens up land market in bid for $8 bln IMF package

Ukrainian lawmakers voted on Tuesday (31 March) to lift a ban on the sale of farmland that has stood for nearly two decades, clearing one of the hurdles needed to unlock an $8 billion loan package from the International Monetary Fund.
Contribute