Euro & Finance

Italy seeks €28.5 billion in EU’s SURE unemployment aid

Italy has asked the European Union to tap its SURE unemployment scheme for €28.5 billion after extending furlough support to help the economy withstand the hit from the COVID-19 crisis.

Eurozone retail sales return to pre-pandemic levels

The volume of retail sales in the euro zone rebounded in June to levels recorded in February before lockdowns, official estimates showed on Wednesday (5 August), completing a recovery that began in May after record drops in March and April.

A stronger Commission is not the same as a stronger Europe

It is a dangerous myth to believe that maximising the role of the European Commission is  synonymous with a stronger, wealthier Europe, writes Gunnar Hökmark.

Investors call out for green opportunities, as EU aims to open the door

In order to make the post-pandemic recovery as sustainable as possible, long-term green investments will be in hot demand. Participants at a virtual conference called “Investing post-COVID: is a green recovery assured?” called for more opportunities and a viable framework.

Revolving Doors: The case of Mário Centeno

The Portuguese Government, led by socialist Prime Minister, António Costa, has appointed the former Eurogroup President and Portuguese Finance Minister, Mário Centeno, as Governor of Portugal’s Central Bank. Never have the revolving doors of finance spun so fast, writes João Cotrim de Figueiredo.

A Financial Transaction Tax deal worth fighting for

The German EU presidency programme mentions the financial transactions tax as one of the measures to fund the EU's response to the coronavirus pandemic. Now is the time to make good on this promise, writes a group of 70 MEPs.

ECB to sit tight as EU leaders shape virus recovery plan

European Central Bank governors are expected to refrain from doling out fresh stimulus medicine Thursday, hoping EU leaders will do their bit to shore up the crisis-hit region with a huge coronavirus recovery plan.

Recovery money is not a gift, says Italy’s EU ambassador

The EU’s proposed €750 billion recovery fund should not be seen as a gift to EU member states. Rather, it is a financial instrument to fund the greening, digitalisation and competitiveness of the European economy, Italy's Permanent Representative to the EU, Maurizio Massari, told EURACTIV in an interview.

Michel gives control to member states to facilitate recovery fund deal

European Council President, Charles Michel, proposed on Friday (10 July) to give more control to member states over the recovery funds to overcome Northern member states’s opposition to the ambitious stimulus.

Donohoe wins Eurogroup presidency

Ireland’s minister of Finance, Pascal Donohoe, will be the next Eurogroup chief, outgoing president Mario Centeno announced.

Election day: Calviño and Donohoe neck and neck in Eurogroup race

Eurozone finance ministers are split on whether to pick their Spanish colleague Nadia Calviño or Ireland’s Paschal Donohoe as the next Eurogroup president during a videoconference on Thursday (9 July), EU sources and diplomats told EURACTIV.com.

German financial watchdog under fire following Wirecard scandal

The balance sheet scandal surrounding the payment company Wirecard raises many questions. Politicians are currently vigorously pursuing one of them: Where were the supervisory authorities? EURACTIV Germany reports.

Dutch ‘preachers and salesmen’ lead EU frugality drive

The Netherlands will be at the centre of upcoming talks over European spending on the coronavirus crisis, driven by a mix of traditional Calvinist frugality and political reality, experts say.

Italy will not accept ‘weak compromise’ on EU recovery fund, PM says

Italian Prime Minister Giuseppe Conte said on Tuesday (7 July) the European Union must act decisively to build a common response to the economic crisis caused by the COVID-19 pandemic, urging that support measures be activated rapidly.

EU to face difficulties without a deal on recovery plan, Budget Commissioner warns

If EU leaders fail to reach an agreement on a pandemic recovery package next week, “we will enter into difficulties,” the EU Commissioner for Budget, Johannes Hahn, warned during an event in Brussels on Tuesday (7 July).

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).

Joint EU debt must not become a regular thing, says Germany’s Weidmann

A decision by European leaders to issue joint debt to finance coronavirus aid for weaker member states should remain an exemption and not serve as a blueprint for future budget challenges, Bundesbank President Jens Weidmann said on Sunday (26 July).

EU fiscal watchdog wants to scrap ‘unrealistic’ 60% debt limit

The European Fiscal Board on Tuesday (1 July) recommended to get rid of the EU's debt threshold of 60% of GDP and instead adopt realistic debt targets specific to the bloc's national economies.

Europe’s hospitality sector makes last appeal ‘before it’s too late’

Hit hard by the pandemic, Europe’s hospitality sector is struggling to find a way out of the current chaos. Speaking to EURACTIV, its representatives have painted a bleak picture and called on governments to take immediate action to help the sector revive rapidly before it’s too late.

ECB stimulus plan meets court requirements, says German finance minister

The European Central Bank (ECB) has met the principle of proportionality with its flagship stimulus programme, Germany's finance minister and lawmakers said, ending a legal conflict that threatened to undermine central bank policy.

Dutch government unveils KLM rescue plan

The Netherlands' national airline, KLM, is set for a €3.4 billion bailout package should it meet certain employment, financial and sustainability targets, the Dutch government announced on Friday (26 June). It still requires regulatory approval from Brussels.

Calviño, Donohoe and Gramegna compete for Eurogroup helm

Ministers Nadia Calviño (Spain), Paschal Donohoe (Ireland) and Pierre Gramegna (Luxembourg) will compete for the Eurogroup Presidency. While Calviño could become the first woman to chair the body, her colleagues promised to become ‘bridge builders’ between the different positions. 

Pubs ask for VAT cut on alcohol to face post-COVID reality

Europe’s hospitality sector has been hit hard by the lockdown measures enforced across the continent to contain the spread of COVID-19. In Belgium, pubs and restaurants were forced to shut down on 13 March. The Belgian government provided one-off payments and...

Eurogroup race hits milestone with no official candidates yet

The deadline for eurozone finance ministers to put forward their candidacy to chair the Eurogroup ends on Thursday (25 June), with no official contenders yet, although Spain’s Nadia Calviño, Ireland’s Paschal Donohoe and Luxembourg’s Pierre Gramegna are seen as leading the race.