About: eurocrisis

Commission revises down economic forecast

The European Commission has projected weak economic growth for the rest of this year in the eurozone.

Barroso says ‘adeus’ after 10 years

He has been the longest-serving EU leader. After 10 years in office, outgoing European Commission president Jose Manuel Barroso gave his last press conference in Brussels on Wednesday.

Draghi: Rumours are unfounded, I will stay at the ECB

Responding to media speculation over his future, ECB president Mario Draghi said on Monday that rumours about his exit are “unfounded” and come from “interested parties”.

Eurogroup approves next €1bn bailout tranche to Greece

EU Finance ministers approved on Monday the next tranche of financial aid for Greece, worth 1 billion euros. “With this €1 billion disbursement, there is now €2.1 billion still left in the pipeline for Greece. €1 billion of that could be disbursed in August but that depends on the nest set of milestones being met.” ESM Managing Director Klaus Regling said.

Europe works, says Greek PM Antonis Samaras

Speaking in the European Parliament in Strasbourg on Wednesday, Greek Prime minister Antonis Samaras said that Greece managed to conclude 67 pieces of legislation 'in a presidency that lasted only four months ' and  "with a minimal budget of which not more than 40% was finally spent".

EU welcomes Portugal’s bailout exit

Eurozone finance ministers congratulated Portugal on Monday as Lisbon announced Sunday it would exit its three-year €78-billion bailout this month without a precautionary credit line.

Euro area government deficit at 3.0% in 2013, says Eurostat

According to data released on Wednesday by Eurostat, the government deficit of both the euro area and the EU28 in 2013 decreased in absolute terms compared with 2012, while the government debt rose in both zones. In the euro area the government deficit to GDP ratio decreased from 3.7% in 2012 to 3.0% in 2013, and in the EU283 from 3.9% to 3.3%. In the euro area the government debt to GDP ratio increased from 90.7% at the end of 2012 to 92.6% at the end of 2013, and in the EU283 from 85.2% to 87.1%.

From reform to Growth – EPP Congress Dublin 2014

The Wilfried Martens Centre for European Studies was present at the XII Congress of the European People’s Party (EPP) that took place in Dublin on 6 and 7 March 2014, an event that gathered more than 2,000 participants, including the leaders of EU institutions, heads of state and government, party leaders, ministers, national and European parliamentarians, and delegates from EPP member parties throughout Europe.

EU forecasts mild economic growth, warns of high unemployment

'Recovery in the European Union is gaining ground'. With this message, EU commissioner Olli Rehn launched the bloc's winter economic forecast, showing higher growth in Europe than previously expected. Speaking at the European Parliament on Tuesday, Rehn said that the 18 eurozone countries would grow by 1.2% this year and 1.8% in 2015. But warning that signs of recovery are still 'modest', Rehn also highlighted that unemployment across the bloc remains too high.

Commission proposes new rules to stop banks’ risky trading

The European Commission proposed on Wednesday new rules to stop the biggest and most complex banks from engaging in the risky activity of proprietary trading.

Samaras tells EU Parliament that Greece has delivered

Greek Prime Minister Antonis Samaras defended on Wednesday Greece's turn to lead the European Union, as the country goes through one of the biggest crisis in decades. Addressing the European Parliament in Strasbourg, Samaras said that Greece has delivered on its commitments to implement fiscal reforms and that the country is slowly coming out of the crisis.

MEPS criticise Troika as inspectors return to Greece

As the so-called Troika is set to return to Greece on Wednesday for a bailout review,  MEPs criticised on Tuesday the accountability of its inspectors and lack of 'democratic legitimacy'. In a public hearing at the European Parliament in Brussels, EU lawmakers also accused the Troika of making mistakes in the economic forecasts behind the bailout programmes for countries like Greece or Ireland.

EU forecasts slow economic recovery, high unemployment

Europe's economy has reached a turning point, according to the European Commission. Presenting his Autumn economic forecast on Tuesday , EU commissioner Olli Rehn said that a slow economic recovery is expected over the next two years, but unemployment will remain high. The Commission expects economic growth in 2014 to hit 1.1% in the euro area and 1.4% in the Union as a whole. In 2015, growth is expected to be 1.7% in the euro zone and almost 2% in the EU.

EU’s Rehn does not rule out a third Greek bailout

As the debate on whether Greece will need a third bailout intensifies, EU economic affairs commissioner Olli Rehn declined on Wednesday to rule out the possibility. Speaking to a Finnish newspaper, Rehn also said that other options, such as extending the repayment period on existing loans, are also on the table. Rehn's comments come after the German finance minister said on Tuesday that Greece will need a third bailout, only 5 weeks before the biggest EU economy holds elections.

Eurozone ministers agree to unlock bailout cash for Greece

Greece secured a lifeline from the eurozone and the IMF on Monday (8 July) but was told it must keep its promises on cutting public sector jobs and selling state assets to get all the cash.

Latvia joins the euro area

Despite the long-lasting economic crisis, EU finance ministers on Tuesday formally approved Latvia's accession to the euro area. The Latvian finance minister said ahead of an ECOFIN meeting on Tuesday that the country is confident it will benefit from the euro adoption despite the bloc's economic problems. Latvia is the 18th EU member state that joins the euro.

Eurogroup to approve Greece’s next bailout payment

Eurozone finance ministers are meeting on Monday in Brussels to discuss the release of the next bailout payment for Greece. After several days of discussions with the Greek authorities, international lenders finished on Sunday a final assessment of Greece's progress towards meeting the terms of the international bailout imposed by the Troika. In exchange of EU financial aid, the Greek government is expected to lay off 4,000 public sector workers by the end of the year.

Commission launches EU-wide public employment service

In an attempt to fight soaring unemployment in Europe, the European Commission on Monday tabled a proposal to create a pan-European network of public employment services. With around 26 million unemployed EU citizens across the continent, the Commission hopes to make it easier for member states to match job-seekers with particular skills with employers looking for those skills. Currently, there are 1.7 million job vacancies in the EU.

From reform to growth: a roadmap for Europe – EIF Helsinki 2013

CES was proud to host the fourth Economic Ideas Forum, which was held in Helsinki during the 6th and 7th of June 2013 under the Patronage of Prime Minister Jyrki Katainen. This yearly conference brought together high level economic experts, Ministers of Economy, EU Commissioners, EU Prime Ministers, as well as CEOs of companies from around the world and enterprise representatives.

EP Schulz meets Cypriot president Nicos Anastasiades

After meeting Cypriot president Nicos Anastasiades on Wednesday in Brussels, European Parliament president Martin Schulz said that Europe will continue helping Cyprus through its financial crisis.

Eurogroup agrees bailout payments for Greece and Cyprus, warns Slovenia

Eurozone finance ministers on Monday signed off on the first 3 billion euros of financial aid for Cyprus. The agreement comes after Nicosia sealed a deal with the EU and IMF in March on a 10 billion euro rescue package to avoid bankruptcy and a potential euro exit.

Eurogroup chief to EP: ‘I am no king…one Dutch king is plenty’

Eurogroup president Jeroen Dijsselbloem faced a grilling in the European Parliament on Tuesday over the recent Cyprus bailout deal.

EU unveils gloomy eurozone growth forecast

The eurozone economy will shrink more than expected this year, according to the European Commission which published its Spring Economic Forecast on Friday. The Commission's outlook also showed that 4 of the largest euro zone economies – France, Spain, Italy and the Netherlands – will be in recession throughout 2013. Only Germany's economy will grow.

Economy dominates Letta’s first Brussels visit

Italy's newly appointed Prime Minister Enirco Letta landed in Brussels yesterday evening (1 May) for a two-day visit to the EU capital, with the economic and political situation at the centre of discussion.