About: Paolo Gentiloni
Eurozone to forgo budget belt-tightening for now
Eurozone finance ministers said Monday (15 March) they would not tighten spending given the continuing pandemic in Europe, but warned that soaring debt levels would eventually have to be fixed.
‘OpenLux’ showed need for tougher enforcement of EU tax rules, says Gentiloni
The "OpenLux" investigation showed a need to better implement European Union tax rules and to strengthen tax-related disclosures by companies, a top EU official said on Wednesday (10 March).
Commission wants to keep fiscal rules suspended in 2022
The European Commission said on Wednesday (3 March) that the Stability and Growth Pact should remain suspended next year as the European economy needs additional stimulus to return to the pre-crisis level.
EU likely to waive borrowing limits again in 2022
The European Union is likely to waive limits on government borrowing again in 2022, given persistent uncertainties about the pace of economic recovery once the coronavirus pandemic is contained, officials say.
Row over rule of law infects EU virus summit
Hungary and Poland’s opposition to Brussels’ oversight over the rule of law will be top of the EU summit agenda Thursday (19 November), sidelining efforts to tackle the coronavirus epidemic. EU member states had planned to share the lessons learned...
European recovery slows downs amid high uncertainty
The European Commission revised downwards its expectations about the European recovery as the impact of the second wave of COVID-19, and the uncertainty about how it will evolve further, will weigh on the fragile economies.
Economic support will last ‘as long as necessary’, says Gentiloni
Given the increasing number of covid-19 cases and the risk of a double-dip recession, the support to the European economy will be maintained “as much as is needed, for as long as is needed”, said on Tuesday (27 October) commissioner for Economy, Paolo Gentiloni.
Italy, Spain and France worst performers as recession deepens
Italy, Spain and France will register the worst economic downturn among eurozone countries this year as the contraction will be more severe than previously expected, according to the latest European Commission forecast published on Tuesday (7 July).
France slams ‘provocation’ as US halts digital tax talks
France and the US locked horns Thursday (18 June) over taxing digital giants such as Google and Facebook, after Washington said it was breaking off talks aimed at establishing a global framework for making the companies pay larger levies where they operate.
Commission defends gradual return to fiscal discipline to avoid ‘mistakes’ of austerity
The European Commission could start controlling deficit and debt levels from next year, once the recession is over. But the road to balancing public accounts again will avoid the “mistakes” of the last crisis, the institution said on Wednesday (20 May).
Commission proposes gradual lifting of borders, in bid to save Europe’s summer
The European Commission on Wednesday (13 May) set out plans for a phased restart of travel this summer, proposing a gradual lifting of borders in an attempt to kick start a tourism sector hit hard by the COVID-19 pandemic.
EU proposes scrapping usual conditions for ESM use in virus battle
The European Commission on Thursday (7 May) proposed scrapping the usual conditions for countries using the eurozone’s bailout fund as they try to revive their economies hit by the coronavirus epidemic. The proposal may make the fund more palatable for...
Coronavirus will trigger the deepest recession in EU history
The economies of EU countries will shrink by 7.4% this year as the coronavirus crisis is set to cause the worst recession in the bloc’s history, according to the European Commission's spring forecast presented on Wednesday (6 May), which also foresaw a significant rebound in 2021.
EU recovery fund should hit €1.5 trillion, Gentiloni says
The European Union's proposed coronavirus recovery fund to help repair the massive economic damage caused should total around €1.5 trillion, EU Economic Affairs Commissioner Paolo Gentiloni said Wednesday (29 April).
Poland proposes ‘Netflix Tax’ amid calls for broader digital levy
Poland will introduce a 1.5% levy on the revenue of streaming platforms including Netflix and Amazon, its finance minister said on Wednesday (29 April). The proposal comes as calls mount for a broader taxation on the operation of digital giants in Europe as a means to mitigate the economic fallout from the coronavirus.
Spain and EU Commissioners call for common European debt instruments
Europe needs debt mutualisation and a common Marshall plan to recover from the coronavirus pandemic, Spanish Prime Minister Pedro Sánchez told German newspaper Frankfurter Allgemeine Zeitung.
Debts can be returned unlike human lives, Tsipras says
Human lives do not come back unlike public debts which can be returned, former Greek Prime Minister Alexis Tsipras wrote in an op-ed for Le Monde.
Brussels’ anti-climate-dumping quest in the spotlight
EU trade and industry ministers weighed into a discussion on a carbon border tax on Thursday (27 February), as the bloc’s internal market chief said the tariff will be ready to deploy “as soon as possible”.
G20 finance heads wrap up Riyadh meeting overshadowed by virus outbreak
Finance leaders of the world's top 20 economies wrapped up their two-day meeting on Sunday (23 February) in Riyadh that was dominated by growing concern over the widening fallout from the coronavirus outbreak.
EU leaves economic forecast unchanged despite risks
The European Commission kept unchanged its economic forecast for moderate eurozone growth for this year and 2021 despite the impact of looming risks, especially the coronavirus.
France ready to take Trump’s tariff threat to WTO
France is ready to go to the World Trade Organization to challenge US President Donald Trump's threat to put tariffs on champagne and other French goods in a row over a French tax on internet companies, its finance minister said on Sunday (8 December).
Eurogroup fails to move forward on eurozone reform
EU finance ministers failed to reach an agreement on Wednesday (4 December) on the reform of the EU's bailout fund and move to political discussions on the European Deposit Insurance Scheme ahead of the Euro summit next week.
Maturing businesses look to SDGs, Paris Agreement for green guidance
Greener business models are starting to gain in popularity, as environmental legislation starts to bite and company heads decide their balance sheets will look healthier in the long-run if they embrace change.