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).
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.
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.
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.
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.
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.
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 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.
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.
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.
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 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.
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 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.
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.
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.
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.
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