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.
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.
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 in …
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.
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 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 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.
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).
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.
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 Italy, …
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.
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 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.
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”.
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.
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).
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.
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.
Italy's former finance minister Domenico Siniscalco insists that sustainable finance is going from strength to strength and that it will hold the key to effectively combating climate change. He also believes that compatriot Paolo Gentiloni will play a crucial role.
Paolo Gentiloni won the European Parliament's approval on Thursday (3 October) to become EU Commissioner for the Economy, with ambitious plans to unblock tax proposals and to design the European unemployment reinsurance scheme.