Italian Prime Minister Giuseppe Conte called Monday (9 September) for the reform of European Union budget rules and cooperation on immigration as his new government won a parliamentary confidence vote.
Inflation in the euro area fell to 1% in July, its lowest level since 2016, according to Eurostat data released on Monday (19 August), adding pressure on the European Central Bank to consider relaunching its economic stimulus program in September.
The European train is slowing down as one of its main drivers, the German economy, is experiencing a slowdown. At the same time, job creation across the EU is declining. EURACTIV's partner Euroefe reports.
The ECB's key interest rate remains at zero and is expected to be at that rate at least until summer 2020. However, ECB chief Mario Draghi is suggesting that a decisive fiscal policy is far more important for the eurozone, especially for Germany and Italy. EURACTIV Germany reports.
The European Commission kept its growth forecast unchanged at 1.2% on Wednesday (10 July) but revised downwards inflation to 1.3% for this year and the next, strengthening the case for further monetary stimulus as global economic risks worsen.
Any systemic shock will not affect just some countries but the whole euro area so if member states want to counter it adequately, they need to have a central fiscal capacity, European Fiscal Board (EFB) president Niels Thygesen told reporters on Tuesday (25 June).
Italy's economy minister said on Tuesday (25 June) he was confident of reaching an agreement with the European Union over the country's budget, adding that deficit targets in a draft deal would reflect a "more than prudent" fiscal policy.
EU leaders failed to inject further ambition to a Eurogroup deal on watered-down reforms of the Economic and Monetary Union, including a budgetary instrument for the eurozone, at the Euro summit on Friday (21 June).
Trade tensions, challenges to multilateralism and unilateral sanctions might be bad for the economy but they have helped boost the global use of the euro, the European Central Bank reported on Thursday (13 June).
If evidence is needed of how far ripples from the Sino-US trade war are reaching, have a look at Europe where the yuan's slump is driving up the euro's value against trade partners' currencies, handicapping the export-reliant bloc's economy.
Contrary to …
EU finance ministers will try to close a deal on deepening the Economic and Monetary Union, including a tentative new budget for the eurozone, during the Eurogroup meeting on Thursday (13 June) in an inclusive format.
After the IMF and the OECD, the World Bank has also cut its 2019 growth forecasts. Uncertainties over trade and investment are at the root of this slowdown, which is also affecting the eurozone. EURACTIV France reports.
Latest Greece and Italy’s fiscal plans raised concerns in Brussels, as the Eurogroup met for another round of negotiations on the budgetary instrument for the Eurozone on Thursday (16 May), without major achievements.
The leader of Poland's ruling conservatives on Wednesday (17 April) urged opposition leaders to back its view that the country should not join the euro until its economy is on a par with that of western neighbours.
When Poland joined the …
Eurogroup president Mario Centeno said late on Monday (11 March) that the future eurozone budget would not include a stabilisation function, despite insistance by France and a handful of other countries to broaden its scope.
It all looked quite harmonious in late January, when German Chancellor Angela Merkel and her French counterpart Emmanuel Macron pledged closer cooperation through the new Aachen Treaty. But just like in any relationship, at some point you go through a rocky patch.
The European Commission will urge member states on Wednesday (27 February) to reform their economies as the risks related to the US-China trade war, a disorderly Brexit or the Italian economy could worsen the deceleration of the European economy.
Euro area economy is expected to slow down more markedly than initially expected, because of the impact of increasing risks, including a disorderly Brexit, and external tensions primarily driven by the US-China trade war.
As European partners remain disunited on the way forward to strengthen the eurozone, ECB President Mario Draghi made a wholehearted defence on Monday (28 January) of the need to act together to complete the economic and monetary union and increase the influence of the common currency abroad.
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