Euro & Finance Archives - Euractiv

Sustainable Finance: Opportunity or threat for the manufacturing industry?

Marlene Stocker — Mon, 09 Nov 2020 15:40:43 +0000

Since the publication of the Sustainable Finance Package in 2018, the European Commission has sent clear messages to investors in Europe that the financial sector must not harm the planet and its citizens, and must avoid green washing. The objectives...

All financial institutions must disclose sustainability risks and impacts, MEPs agreed

Claire Stam — Tue, 06 Nov 2018 16:33:14 +0000

The European Parliament’s Committee of Economic and Monetary Affairs endorsed on Monday (5 November) a decision that makes it mandatory for all financial market participants, including banks, to disclose sustainability risks and impacts of their portfolio, a move that NGOs say brings the EU one step further in greening its financial system.

Paris ahead of Frankfurt for Brexit City jobs

Delphine Cuny — Tue, 03 Apr 2018 11:18:02 +0000

While banks in London have drastically scaled back their post-Brexit relocation estimates, they are now favouring France to Germany, according to a survey led by Reuters. EURACTIV’s partner La Tribune reports.

A specific Brexit finance deal benefits the EU

Georges Ugeux — Thu, 15 Mar 2018 06:15:37 +0000

By not embracing the UK financial sector in a future trade deal, the EU might chase global capital markets away from Europe. The idea that Europe will win by keeping London at arm’s length is naïve at best, writes Georges Ugeux.

Mastercard: Core values in a changing payments landscape [Promoted content]

Evan Lamos — Tue, 16 Jan 2018 11:00:36 +0000

With PSD2 now in force and an ever changing payments landscape encapsulated by changing consumer expectations and technological advances now is an exciting time for payments.

Does return of EU growth weaken case for Brexit?

Denis MacShane — Tue, 14 Nov 2017 10:22:05 +0000

One of the more powerful arguments advanced in Britain by Eurosceptics – from hardline Brexit ideologues to polite rationalists who disliked many aspects of European integration - was that the European Union had a dreadful economic tale to tell this century, writes Denis MacShane.

EURACTIV Metamorphosis: The story behind EURACTIV’s rebranding

Dominique Ostyn, Frédéric Simon — Mon, 20 Feb 2017 06:55:32 +0000

As you discover our rebranded euractiv.com website today, we wanted to walk you through the changes that have been taking place at EURACTIV over the last 6 or so months.

EU’s Dombrovskis: Trump brings ‘concern’ to international financial regulation

Jorge Valero, Sarantis Michalopoulos — Fri, 17 Feb 2017 05:45:51 +0000

European Commission Vice-President Valdis Dombrovskis is wary of US moves to deregulate the banking sector, saying the main lesson from the 2008 financial crisis is that international finance needs international rules. But he was positive about Greece’s fiscal adjustment and called on Athens and its lenders to give a “final push” to break the stalemate on the country's bailout programme.

Gates urges Trump not to defund foreign aid

AnnMarie Welser — Thu, 16 Feb 2017 14:27:47 +0000

Bill Gates spoke at the European Commission on Thursday (16 February) urging world leaders, including Donald Trump, not to defund foreign aid spending.

Future EU: Does Visegrád have a plan?

Adéla Denková, Edit Zgut, Krzysztof Kokoszczynski, Zuzana Gabrizova — Thu, 16 Feb 2017 11:34:06 +0000

In the Visegrád Group, there is a desire to both strengthen the powers of member states, but also defend the Schengen area, and the four freedoms. Unsurprisingly, talk of treaty change is in the air. Euractiv's Central European partners report.

Udo Bullmann on Trump, social justice and football

Brian Maguire, Evan Lamos — Thu, 16 Feb 2017 06:33:28 +0000

In our Over A Beer video series this month, Euractiv’s Brian Maguire chats with German MEP Udo Bullmann, vice-president of the Socialists and Democrats political group in the European Parliament.

Cost of deadly quakes hits €23bn as Italy asks for EU aid

Samuel Morgan — Thu, 16 Feb 2017 06:09:39 +0000

A series of deadly earthquakes that struck central Italy over the past six months has cost the country more than €23 billion, the nation's Civil Protection Agency said Wednesday (15 February).

Commission: We ‘stuck our neck out’ assessing Trump’s plan

Jorge Valero — Wed, 15 Feb 2017 05:26:17 +0000

Experts welcomed the European Commission’s assessment of US President Donald Trump’s fiscal stimulus package despite the high level of uncertainty around the plan.

Dombrovskis warns US on bank deregulation move

admin — Wed, 15 Feb 2017 05:20:57 +0000

Rolling back international banking regulations would put the achievements made since the financial crisis into question and could trigger a dangerous race between countries to ease rules, a senior European Union official warned on Tuesday (14 February).

Will Switzerland end up on Brussels’ tax havens blacklist?

Jean-Christophe Catalon — Tue, 14 Feb 2017 13:57:01 +0000

The ‘No’ vote in the Swiss referendum on tax reform was a big defeat for the government. Pressure from trading partners and big businesses will force Bern to come up with a new proposal, and fast. Euractiv’s partner La Tribune reports.

Eurogroup deputy: ‘Grexit is a non-issue’

Wolfgang Tucek — Tue, 14 Feb 2017 12:26:37 +0000

Eurogroup Working Group President Thomas Wieser told Euractiv Germany that he remains confident the IMF will participate in the Greek bailout programme and that ‘Grexit’ is not even an issue.

Syriza MEP: EPP tried to ‘sabotage’ Greek bailout debate in EU Parliament

Sarantis Michalopoulos — Tue, 14 Feb 2017 05:40:30 +0000

The right-wing European People’s Party attempted to "sabotage" a debate today (14 February) on the Greek bailout in the European Parliament in the absence of Eurogroup president Jeroen Dijsselbloem, who cited a “heavy workload”, Syriza MEP Dimitris Papadimoulis claimed.

European Economic Forecast: Sunny with a chance of uncertainty

AnnMarie Welser — Mon, 13 Feb 2017 17:38:10 +0000

EU economies are expected to grow throughout 2018. The upturn is the first time in almost a decade that member states have collectively experienced positive growth.

Commission: Trump stimulus payment ‘gonna be huge’ but inconsequential

Jorge Valero — Mon, 13 Feb 2017 15:45:14 +0000

The European Commission predicted in its winter forecast €226 billion in additional spending as part of the fiscal stimulus promised by the new US government, but its economic impact will be “very low”.

EU auditors join fight against deadly air pollution

Janie Matthews — Mon, 13 Feb 2017 13:50:02 +0000

The European Court of Auditors (ECA) will investigate the fight against air pollution, which kills half a million European citizens every year, the court announced on Friday (10 February).

Piketty outlines eurozone assembly proposal to ‘democratise’ single currency

Emilie Buffet — Mon, 13 Feb 2017 11:47:32 +0000

As Benoît Hamon’s advisor for European budgetary issues, Thomas Piketty hopes to construct a “democratic decision-making mechanism” within the eurozone, he told France Inter on Sunday (12 February). Euractiv’s partner Ouest-France reports.

Swiss voters soundly reject corporate tax overhaul

Georgi Gotev — Mon, 13 Feb 2017 06:38:12 +0000

Swiss voters clearly rejected plans to overhaul the corporate tax system yesterday (12 February), sending the government back to the drawing board as it tries to abolish ultra-low tax rates for thousands of multinational companies without triggering a mass exodus.

European recovery gains momentum despite ‘Trump effect’

Jorge Valero — Mon, 13 Feb 2017 05:40:20 +0000

The European Commission is expected to revise upwards its growth forecast for Europe on Monday (13 February), showing a marked improvement over its last outlook published hours after Donald Trump was elected US president.

Lenders agree on more austerity for Greece to avoid default

Jorge Valero — Fri, 10 Feb 2017 16:30:37 +0000

Eurozone and IMF officials met with Greek Finance Minister Euclid Tsakalotos this afternoon (10 February) to overcome the stalemate in the bailout programme after the lenders agreed to request an additional €3.6 billion in cuts by 2018.

Apple CEO: Britain will be ‘just fine’ after Brexit

Samuel White — Fri, 10 Feb 2017 11:37:54 +0000

Britain will be "just fine" after it leaves the European Union, Apple's chief executive Tim Cook said in an interview broadcast on Friday (10 February).

Dombrovskis: Brussels wants Brexit deal ‘for all’

Samuel White — Thu, 09 Feb 2017 16:28:13 +0000

The European Commission's vice-president Valdis Dombrovskis argued on Thursday (9 February) that a Brexit deal must benefit financial services sectors in both Europe and Britain.

Parliament rapporteur: 2018 EU budget should focus on ‘prosperity’ and ‘security’

Hannah Black, Sarantis Michalopoulos — Thu, 09 Feb 2017 15:34:08 +0000

The 2018 EU budget should be pro-growth in order to create well-paid jobs but simultaneously boost security both externally and internally, Siegfried Mureșan told Euractiv.com in an interview.

Rajoy offers to serve as Trump’s bridge to Europe and Latin America

Marion Candau — Thu, 09 Feb 2017 11:31:38 +0000

Spain's prime minister has told President Donald Trump that he would be the ideal point of contact for the United States in Europe and Latin America, as well as providing a bridge between the US and North Africa, as well as the Middle East. Euractiv Spain reports.

‘Grexit’ reemerges as IMF and eurozone continue Greek debt squabble

Samuel Morgan — Thu, 09 Feb 2017 10:19:54 +0000

Greece should leave the eurozone and then be given debt relief, the head of Germany's pro-business Free Democrats (FDP) told German radio today (9 February), as a dispute between the eurozone, the IMF and Greece itself continues unabated.

EU looks to agree formula with UK before issuing final Brexit tab

Samuel Morgan — Thu, 09 Feb 2017 06:46:24 +0000

The European Union wants to agree with Britain on a formula for calculating how much it will owe the bloc after it leaves, rather than defining a specific sum in advance, EU officials have said.

Poland’s Kaczynski warns two-speed Europe leads to ‘breakdown’

admin — Thu, 09 Feb 2017 06:14:03 +0000

The powerful head of Poland's ruling party yesterday (8 February) warned that any moves toward a two-speed European Union would lead to the bloc falling apart.

Car battery cartel ordered to pay €68 million fine

AnnMarie Welser — Wed, 08 Feb 2017 16:42:42 +0000

The European Commission fined three recycling companies a total of €68 million for creating a car battery cartel. Campine, Eco-Bat Technologies and Recylex were found to have fixed the prices of scrap automotive batteries, breaching EU antitrust rules.

Mogherini kicks off efforts to restore EU-US relations

Jorge Valero — Tue, 07 Feb 2017 17:43:23 +0000

The EU’s top diplomat, Federica Mogherini, will travel to Washington later this week to “identify common ground” with the new administration, following a series of disputes between US President Donald Trump and Europe.

The ‘Trump effect’ on Europe’s economy

AnnMarie Welser — Mon, 06 Feb 2017 17:37:53 +0000

Today (6 February) at a hearing of the Committee on Economic and Monetary Affairs of the European Parliament, Mario Draghi, the president of the European Central Bank, was asked about the effects of Trump’s Muslim ban on Europe’s economy. Draghi called it "worrisome".

EU halts release of anti-corruption report

Sandor Lederer — Mon, 06 Feb 2017 13:41:07 +0000

In Romania, politicians were preparing to legalise political corruption, and elsewhere the misuse of EU funds makes headlines every day. Sandor Lederer asks why has the Commission decided not to release an in-depth anti-corruption report.

Schäuble: UK shouldn’t be punished for Brexit

Albert Funk, Robert Birnbaum — Mon, 06 Feb 2017 10:04:13 +0000

German Finance Minister Wolfgang Schäuble told Euractiv's partner Der Tagesspiegel that dealing with new US President Donald Trump requires a "calm" approach and that the UK shouldn't be punished for Brexit.

Maastricht aims to rekindle European dream, 25 years on

Samuel Morgan — Mon, 06 Feb 2017 07:24:23 +0000

Maastricht, a picturesque Dutch city of cobblestone streets and medieval arches, will tomorrow (7 February) mark the 25th anniversary of the European treaty bearing its name, showing rare optimism and hope amid rising Euroscepticism.

Croatia’s central bank chief suspected of conflict of interest

Samuel Morgan — Mon, 06 Feb 2017 05:05:43 +0000

A Croatian government watchdog is to assess if central bank governor Boris Vujčić allowed a conflict of interest by several times attending an economic conference sponsored by the owner of Croatia's biggest commercial bank.

Spain benefitted most from Juncker Plan in 2016

Samuel Morgan — Fri, 03 Feb 2017 16:11:10 +0000

Spain is one of the main beneficiaries of the Juncker Plan, according to European Investment Bank Vice-President Román Escolano, after a year in which the EU bank focused on financing SMEs. Euractiv Spain reports.

Irish finance minister: Dublin, EU agree on Apple tax estimate

admin — Fri, 03 Feb 2017 04:04:32 +0000

The European Commission's estimate that Apple owes Ireland up to €13 billion in a disputed tax ruling is unlikely to be altered greatly by Dublin's calculations, the Irish finance minister said on Thursday (2 February).

Juncker scolds a dozen Commissioners for flocking to Davos

James Crisp — Thu, 02 Feb 2017 15:00:46 +0000

European Commission President Jean-Claude Juncker scolded his Commissioners for flocking to the World Economic Forum in Davos at a weekly meeting of the executive’s top brass.

Greens slam Commission for blocking Panama Papers probe

Georgi Gotev — Thu, 02 Feb 2017 12:32:06 +0000

MEPs from the Greens/EFA group voiced frustration today (2 February) with being blocked in their investigation of the Panama Papers and on the ways in which money laundering and tax evasion are made possible in the European Union.

ECB’s monetary policy under attack, Brexit scavengers continue to circle UK

Sam Morgan — Thu, 02 Feb 2017 10:50:48 +0000

The European Central Bank (ECB) is under increasing pressure to exit its loose monetary policy but the Frankfurt bank remains unconvinced by inflation growth. The institution is also looking into cross-border bank mergers, as the rest of Europe eyes the UK's post-Brexit scraps.

Senior EU notary: European integration to continue ‘with or without Brexit’

Catalina Guerrero — Thu, 02 Feb 2017 09:51:58 +0000

President of the Council of the Notariats of the European Union (CNUE) José Manuel García Collantes told EURACTIV Spain that the European project is on track and that free movement and integration will continue “with or without Brexit”.

Member states warn EU fiscal supervision ‘inadequate’

Jorge Valero — Wed, 01 Feb 2017 04:37:56 +0000

Rules to control national spending are “complex” and the current approach is “inadequate”, the chair of the EU Network of Independent Fiscal Institutions, José Luis Escrivá, said on Tuesday (31 January).

France loses market share despite competitiveness gains

Fabian Piliu — Tue, 31 Jan 2017 11:12:36 +0000

French exports are gradually becoming more competitive, according to the 2016 competitiveness study by macroeconomics NGO COE-Rexecode. But the country’s market share is still falling. Euractiv’s partner La Tribune reports.

Deutsche Bank fined $630 million for failures over Russian money laundering

Georgi Gotev — Tue, 31 Jan 2017 09:38:17 +0000

Deutsche Bank agreed to pay $630 million in fines to US and UK regulators for failing to prevent an estimated $10 billion in suspicious trades being laundered out of Russia, settling a second major legal case this month.

WEF member: ‘A very strong willingness exists to achieve inclusive growth’

Jorge Valero — Tue, 31 Jan 2017 05:21:01 +0000

Inclusive growth became a dominant topic at this year's World Economic Forum (17-20 January). Martina Larkin, the head of Europe and Eurasia for the Forum, admitted there is no “obvious model” for it.

Italy ups spending on earthquake clean-up, despite Commission deficit request

Francesca Gerosa — Mon, 30 Jan 2017 11:57:10 +0000

The Italian government will start to increase spending on emergency funds this week to deal with the earthquakes that have struck the country, independent of a European Commission request to reduce its structural deficit. EURACTIV’s partner Milano Finanza reports.

Southern EU leaders urge firm response to Trump

admin — Mon, 30 Jan 2017 06:45:03 +0000

French President François Hollande urged Europe to form a united front and provide a "firm" response to US President Donald Trump, at a gathering Saturday of southern European Union leaders.

Commission confirms work on securitisation of EU sovereign bonds

Jorge Valero — Fri, 27 Jan 2017 17:06:51 +0000

European Commission Vice-President Valdis Dombrovskis said today (27 January) that the goal of setting up European Safe Assets is to reduce banks' exposure to sovereign debt.

Rajoy warns Le Pen victory would ‘destroy Europe’

Jorge Valero — Thu, 26 Jan 2017 16:53:00 +0000

Spanish Prime Minister Mariano Rajoy warned on Thursday (26 January) that the victory of populist forces in Europe would be “a disaster”.

Juncker camp unimpressed by euro collapse forecast

Georgi Gotev — Thu, 26 Jan 2017 15:35:33 +0000

The European Commission chief spokesperson used old quotes by his boss Jean-Claude Juncker to respond to a US politician close to President Donald Trump, who made dire predictions about the future of the EU and its common currency.

Commission announces investment boost for circular economy

James Crisp, Janie Matthews — Thu, 26 Jan 2017 11:59:05 +0000

The EU executive announced today (26 January) the first steps towards legislation on the burning of waste for energy, and that it would work with the European Investment Bank to spur financial backing for projects supporting the shift to a circular economy.

Martin Schulz’s rapid rise from Brussels man to chancellor candidate

Albrecht Meier — Thu, 26 Jan 2017 11:30:16 +0000

Martin Schulz is known in Germany mainly as a European politician and an ally of Chancellor Angela Merkel. But later this year they will face off in the country's leadership race. EURACTIV’s partner Der Tagesspiegel reports.

The Presidency debate: The single market

Brian Maguire, Evan Lamos — Thu, 26 Jan 2017 10:57:48 +0000

For the next six months, Malta holds the rotating presidency of the European Union. Malta has set out its policy agenda, which includes advancing the single market, social inclusion and security.

French presidential hopeful says EU’s ‘3% public deficit dogma must end’

Aline Robert — Thu, 26 Jan 2017 06:53:59 +0000

During a TV debate yesterday evening (25 January), both contenders for the Socialist ticket in the French Presidential election said they would loosen the country’s purse strings, with Benoît Hamon going a step further by promising to end the EU's “3% deficit dogma”. EURACTIV France reports.

Czech MEP: EU should pressure Belarus over illicit tobacco trade

Sarantis Michalopoulos — Thu, 26 Jan 2017 06:19:18 +0000

The European Union and its member states should pressure Belarus to combat the trade in illicit tobacco and adopt a “stick and carrot” approach with sanctions if necessary, Czech MEP Tomáš Zdechovský told EURACTIV.com.

Monti group advisor: EU money could be better targeted at external borders

Andrej Furik — Wed, 25 Jan 2017 11:09:10 +0000

Instead of punishing member states that refuse to accept refugees, there could be improved compensation for those that accept refugees and manage their resettlement, Dr. Giacomo Benedetto told EURACTIV Slovakia in a wide-ranging interview.

Cracks appear in ECB united front as top banker goes off message

Samuel Morgan — Wed, 25 Jan 2017 06:35:11 +0000

The European Central Bank (ECB) could soon start planning an exit from its unprecedented stimulus programme, one of its executive board members said yesterday (24 January), in a rare public discussion about ending its asset buying scheme.

Juncker reiterates support for ‘minimum salary’ in each EU nation

admin — Tue, 24 Jan 2017 06:54:47 +0000

The European Commission wants all EU member states to introduce minimum wages for their workers and unemployed, the President of the EU executive said on Monday (23 January), in an effort to combat growing social inequality and poverty.

Greek regional governor: Local economies need leverage to ‘breathe’

Nikos Lampropoulos — Tue, 24 Jan 2017 05:20:31 +0000

A new development fund launched in northern Greece aims to boost SMEs’ role in the local economy and simultaneously ensure transparency in financial management, the governor of the Western Macedonia region told EURACTIV Greece.

Davos admits to globalisation’s failures, falls short of solutions

Jorge Valero reporting from Davos — Mon, 23 Jan 2017 13:09:12 +0000

The World Economic Forum concluded its four-day gathering by calling for more inclusive growth to face growing populism and the backlash against globalisation

ECB: Any country leaving eurozone must settle bill first

Samuel Morgan — Mon, 23 Jan 2017 09:32:45 +0000

Any country leaving the eurozone would have to settle its claims or debts with the bloc's payments system before severing ties, European Central Bank President Mario Draghi has said.

Davos: Industry and political leaders split over Trump earthquake

Daniela Vincenti — Fri, 20 Jan 2017 17:01:46 +0000

On the day of the inauguration of Donald Trump, the 45th president of the United States, bearish business leaders gathered in Davos were ready to jump on the bandwagon of the new era, but the political elites remain unimpressed and fear growing populism and protectionism.

Moscovici: ‘Trump will bring more nationalism and protectionism’

Jorge Valero reporting from Davos — Fri, 20 Jan 2017 15:26:03 +0000

Commissioner for Economic Affairs Pierre Moscovici agrees with the 'wait and see' approach toward new US President Donald Trump mostly shared by the global elite in the in Davos. But he sees more nationalism and protectionism coming from the White House.

Schäuble says IMF plans to stay in bailout talks, warns Trump to respect deals

Samuel Morgan — Fri, 20 Jan 2017 14:42:22 +0000

International Monetary Fund (IMF) head Christine Lagarde reassured German Finance Minister Wolfgang Schäuble this week that the IMF plans to remain constructively engaged in talks about aid for Greece, a spokesman for Schäuble said earlier today (20 January).

ECB unconvinced by inflation increase, monetary policy unchanged

Arantxa Iñiguez — Fri, 20 Jan 2017 09:48:15 +0000

European Central Bank (ECB) President Mario Draghi yesterday (19 January) announced the institution’s monetary policy would remain unchanged and asked for more patience as the economic recovery continues. EURACTIV Spain reports.

Gibraltar is ‘one EU entity’ with UK, ECJ says in Brexit gambling blow

Matthew Tempest — Thu, 19 Jan 2017 17:05:34 +0000

Britain and Gibraltar count as one EU state in terms of a key aspect of the single market, a senior EU lawyer said Thursday, in an opinion that could effect the territory's life after Brexit.

Commission insists Greece must privatise 66% of DESFA gas grid

Georgi Gotev — Thu, 19 Jan 2017 15:18:15 +0000

Europe's top energy official said today (19 January) that Greek authorities should privatise a majority stake in Greek gas grid operator DESFA, after a deal collapsed last year.

Rutte and Schulz take the gloves off in front of Davos elite

Jorge Valero reporting from Davos — Thu, 19 Jan 2017 13:44:28 +0000

Dutch Prime Minister Mark Rutte and former European Parliament President Martin Schulz clashed over the strategy to relaunch the Union, illustrating the deep division at Europe’s helm in front of the global audience of the World Economic Forum.

German SPD says Europe can back Athens without the IMF

Sarantis Michalopoulos — Thu, 19 Jan 2017 12:54:56 +0000

In an interview with Süddeutsche Zeitung, Social Democratic Party of Germany (SPD) deputy chairman Carsten Schneider insisted that the International Monetary Fund's (IMF) participation in the Greek bailout was not necessary. EURACTIV Greece reports.

Goldman Sachs to slash London presence due to Brexit

Georgi Gotev — Thu, 19 Jan 2017 09:29:47 +0000

US bank Goldman Sachs will move 1,000 staff from London to Frankfurt as part of a post-Brexit reorganisation that will reduce its City headcount by half, German business daily Handelsblatt reported today (19 January).

Greek power utility shareholders approve grid spin-off

Georgi Gotev — Wed, 18 Jan 2017 05:52:07 +0000

Shareholders of Greece's power utility Public Power Corp. (PPC) approved yesterday (17 January) the transfer of a 51% stake in the power grid operator ADMIE, part of a spin-off scheme, which is a major term in Greece's bailout programme.

Mixed bag of results for member state budgets from Commission

Samuel Morgan — Tue, 17 Jan 2017 17:34:36 +0000

The European Commission said today (17 January) that Spain's budget for this year is "broadly" in line with EU targets and Portugal claimed that it met its 2016 goals. However, there were less positive signs from Italy and Lithuania.

Rajoy outlines 2017 plan, hopes for minimal Brexit disruption

Samuel Morgan — Tue, 17 Jan 2017 13:56:23 +0000

Spanish Prime Minister Mariano Rajoy has told the presidents of Spain's autonomous communities that improving the country's welfare state could be possible but will depend entirely on getting back to pre-economic crisis levels. EURACTIV Spain reports.

Moscovici: Progress on deficit reduction must not be reversed

Laurent Marchand — Tue, 17 Jan 2017 10:41:43 +0000

Pierre Moscovici spoke to EURACTIV's partner Ouest-France about France's left-wing primary, the impact of Donald Trump's election, the 3% deficit rule, the Commission's March white paper and the importance of the euro.

Business leaders optimistic about future, despite popular discontent

Jorge Valero reporting from Davos — Tue, 17 Jan 2017 05:59:34 +0000

Top business executives are split over the benefits of globalisation, but most remain “extremely positive” in their growth forecasts, a PwC survey shows.

Commission approves new aid programme for Moldova

Samuel Morgan — Mon, 16 Jan 2017 16:11:29 +0000

The European Commission will provide Moldova with €100 million in EU aid as the Eastern European country struggles to meet its short-term financial needs. EURACTIV Romania reports.

Oxfam: Growth of inequality accelerated in 2016

Cécile Barbière — Mon, 16 Jan 2017 10:07:08 +0000

Global wealth become even more concentrated in the hands of the rich in 2016, according to Oxfam. Eight people now control as much wealth as the poorest half of the world's population. EURACTIV France reports.

Britain threatens to undercut EU if Brexit plans fail

Samuel White — Mon, 16 Jan 2017 06:11:55 +0000

Britain warned on Sunday (15 January) it might undercut the EU economically if it cannot obtain both single market access and immigration controls, as Prime Minister Theresa May prepared her big Brexit strategy speech.

ECB takes flak from Berlusconi and Schäuble

Samuel Morgan — Fri, 13 Jan 2017 15:45:18 +0000

The European Central Bank faced a multi-pronged assault today (13 January) as former Italian Prime Minister Silvio Berluscon was revealed to have filed a case against the bank and Germany’s finance minister told it how to do its job.

Pre-Davos report calls for reforming capitalism to survive global backlash

Jorge Valero — Fri, 13 Jan 2017 14:33:09 +0000

The World Economic Forum study warns that democracy is in “deeper crisis” and urges for more inclusive growth amid the growing inequalities fuelled by technological disruption.

France must cut corporation tax to compete within EU, say auditors

Cécile Barbière — Fri, 13 Jan 2017 13:07:47 +0000

Corporation tax in France is too far above the European average, according to a report by the French Court of Auditors. The experts said a cut from 33.3% to 25% would allow companies to compete with their European counterparts. EURACTIV France reports.

Schäuble: If IMF exits Greek bailout, EU could take over

Sarantis Michalopoulos — Fri, 13 Jan 2017 12:46:55 +0000

Berlin is weighing up the possibility of the EU taking over the Greek bailout in the event that the International Monetary Fund decides to end its role in it, German Minister of Finance Wolfgang Schäuble said on Friday (13 January). EURACTIV Greece reports.

Kalfin: Brexit is an opportunity for the future EU budget

Georgi Gotev — Thu, 12 Jan 2017 16:04:46 +0000

The EU budget should become more transparent or other countries will follow the UK's example. But Brexit also provides an opportunity to get rid of all rebates, which nobody can actually explain, Ivailo Kalfin, member of the Monti group on...

Austrian chancellor launches bid to win back voters from far right

Georgi Gotev — Thu, 12 Jan 2017 06:28:01 +0000

Austrian centre-left Chancellor Christian Kern yesterday (11 January) launched a bid to win back voters from the far-right Freedom Party (FPÖ), presenting a 10-year plan focused on creating jobs, boosting public investment and taxing multinationals.

Malta denounced as tax haven as it assumes EU presidency

Daniela Vincenti — Wed, 11 Jan 2017 16:36:15 +0000

Malta was today (11 January) accused of being a tax haven as it took over the rotating presidency of the EU. Some companies in the EU's smallest country pay as little as 5% tax on their profits.

Monti group challenges the ‘juste retour’ principle in EU budgeting

Georgi Gotev — Wed, 11 Jan 2017 06:27:53 +0000

The ‘Monti group’ will propose new ways of budgeting for the post-2020 period on Thursday (12 January), challenging the principle of ‘juste retour’, and looking at the opportunities of abandoning the UK rebate, according to a draft report seen by EURACTIV.com.

Greek broadcasters want exemption from wealth declaration

Sarantis Michalopoulos — Wed, 11 Jan 2017 05:23:03 +0000

TV channel owners opened a new row with the Syriza-led government when they asked the country's administrative court to exempt its top executives from filing a wealth statement, citing privacy concerns.

Russian central bank governor voted best in Europe for 2017

Samuel Morgan — Tue, 10 Jan 2017 14:18:34 +0000

British monthly magazine The Banker has voted the governor of Russia’s main financial institution as Central Banker of 2017, after the Russian economist halved inflation in 2016. EURACTIV’s partner Milano Finanza reports.

Finland first in Europe to take basic income plunge

Ama Lorenz — Tue, 10 Jan 2017 11:43:03 +0000

Discussions between the supporters and opponents of the idea of Unconditional Basic Income (UBI) are fierce but Finland has bitten the bullet and implemented the concept across the country in a new landmark pilot project. EURACTIV Germany reports.

Oettinger grilled by MEPs on budget, dodges questions on lobbyist meeting

Catherine Stupp — Tue, 10 Jan 2017 05:40:42 +0000

Günther Oettinger dodged an evening of tough questions yesterday (9 January) about a string of his recent slip-ups when three European Parliament committees sounded out the gaffe-prone Commissioner for his new job as EU budget and human resources chief.

ECB to enable mobile payments using phone numbers by 2018

Delphine Cuny — Tue, 10 Jan 2017 05:22:45 +0000

ECB plans to link mobile phone numbers to their owners' bank accounts will facilitate bank transfers and consolidate the eurozone payments market. EURACTIV's partner La Tribune reports.

Germany’s Gabriel says EU breakup no longer unthinkable

Georgi Gotev — Mon, 09 Jan 2017 08:00:30 +0000

Germany's insistence on austerity in the euro zone has left Europe more divided than ever and a break-up of the European Union is no longer inconceivable, German Vice Chancellor Sigmar Gabriel told Der Spiegel magazine.

Romania’s parliament approves tax relief for pensioners

Georgi Gotev — Fri, 06 Jan 2017 06:57:54 +0000

Romania's lower house of parliament yesterday (5 January) approved tax breaks for pensioners, making good on a government promise to loosen fiscal policy as the economy picks up pace.

Embattled Bank of Cyprus pays off bailout loan

Samuel Morgan — Fri, 06 Jan 2017 06:32:11 +0000

Bank of Cyprus, the Mediterranean island's largest lender and one of the largest casualties of the financial crisis, yesterday (5 December) announced it had paid back in full the €11.4 billion in Emergency Liquidity Assistance it received in an international bailout.

Le Pen proposes return to ECU-style system to replace euro

admin — Wed, 04 Jan 2017 14:20:13 +0000

Eurozone countries should retreat from the euro single currency and return to a "common currency" structure, French National Front leader Marine Le Pen said on Wednesday (4 January), evoking the era of the ECU basket of currencies.

Europe finally takes centre stage in French election

Aline Robert — Wed, 04 Jan 2017 11:16:28 +0000

In their eagerness to distance themselves from the National Front, the left-wing candidates for the French presidency are suddenly discovering their pro-European side. Some even want more sovereignty to go to Brussels. EURACTIV France reports.

Energy powers eurozone inflation but growth elusive

Matthew Tempest — Wed, 04 Jan 2017 07:21:16 +0000

Official data showed inflation advancing in major eurozone economies Germany, France, and Spain on Tuesday (3 January), but analysts warned that a return to healthy price rises remains far off.