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Finance and Monetary Affairs in the EU

Latest news on economic and monetary affairs in the European Union.

Euro news - Daily Currency update 09 February 2016, 18:45 CET

EU to unveil new energy plan to curb reliance on Russia 09 February 2016, 12:34 CET
The EU will unveil Wednesday plans to give it power to examine energy contracts that European states sign with countries outside the bloc, amid concerns about Europe's dependence on Russian gas.

Georgia to build $2.5 bn Black Sea port on China's Silk Road 08 February 2016, 15:32 CET
Georgia on Monday announced plans to build a new deep-water Black Sea port in a $2.5-billion project that aims to boost trade between China and Europe along the historic Silk Road route.

Under EU pressure, Portugal cuts 2016 deficit target 05 February 2016, 20:12 CET
Portugal said on Friday it had cut its budget deficit target for 2016 to 2.2 percent of gross domestic product (GDP) from a previously announced target of 2.6 percent.

EU approves Portugal budget despite concerns 05 February 2016, 18:06 CET
The European Commission on Friday approved Portugal's draft budget for 2016, but warned that more efforts would be needed by the socialist-led government to avoid a breach of EU rules on spending.

Commission Opinion on the 2016 Draft Budgetary Plan of Portugal 05 February 2016, 18:05 CET
The European Commission considers that the Portuguese government's 2016 Draft Budgetary Plan is at risk of non-compliance with the provisions of the Stability and Growth Pact. In its Opinion adopted on 5 February, the European Commission therefore invites the authorities to take the necessary measures within the national budgetary process to ensure that the 2016 budget will be compliant with the Stability and Growth Pact.

Eurozone growth forecast cut on China, migrant risks 05 February 2016, 16:59 CET
The EU cut Thursday its eurozone growth forecasts for this year, warning that the slowdown in China and Europe's biggest migrant crisis since World War II could chill the economy.

Stick to path of reforms: Merkel to Portugal 05 February 2016, 15:07 CET
German Chancellor Angela Merkel on Friday urged Portugal to stick to its commitments on economic reforms, as concerns grow that the new Socialist-led government was easing off on budget discipline.

Portugal cabinet adopts budget without waiting for EU blessing 05 February 2016, 11:31 CET
The Portuguese government on Thursday adopted its 2016 draft budget, a day before the European Commission was due to deliver its verdict on the country's progress towards more austerity.

IMF and EU warn Portugal against 'loosening' budget effort 04 February 2016, 15:49 CET
Portugal's former international creditors voiced concern Thursday over a "loosening" of budget discipline and urged the new Socialist-led government to do more to spur economic recovery.

Winter 2016 Economic Forecast: Weathering new challenges 04 February 2016, 12:01 CET
The European Commission's winter forecast shows that the overall growth outlook has changed little since the autumn but that the risk that growth could turn out worse than forecast has risen, mainly as a result of external factors. In the euro area, growth is projected to increase to 1.7% this year from 1.6% last year, and to climb to 1.9% in 2017. EU economic growth is forecast to remain stable at 1.9% this year and rise to 2.0% next year.

Austria seeks EU aid halt for nations rejecting failed migrants 04 February 2016, 11:47 CET
Austria's foreign minister called on the European Union on Thursday to stop giving aid to countries that refuse to take back nationals whose asylum claims were rejected.

Portugal bows to EU pressure to lower budget deficit 04 February 2016, 11:03 CET
Portugal has agreed to lower its 2016 budget deficit and growth forecasts following pressure from the European Commission, according to a government official on Wednesday.

'Nothing has been decided for March': top ECB official 03 February 2016, 10:07 CET
Financial markets should not bet on the European Central Bank beefing up its stimulus next month as "nothing has been decided," ECB executive board member Yves Mersch said in a newspaper interview Wednesday.

EU warns Socialist-led Portugal on budget commitments 03 February 2016, 00:17 CET
The European Commission on Tuesday demanded that the Portuguese government rework its draft budget for this year because it falls short of commitments to reduce public spending.

Eurozone Dec unemployment falls to 4-year low: Eurostat 02 February 2016, 12:32 CET
Eurozone unemployment fell to its lowest level in more than four years in December, official data showed Tuesday, beating forecasts from analysts worried about the global economic outlook.

ECB chief highlights risks to economy 02 February 2016, 11:04 CET
The European Central Bank is prepared to play its part in helping the economic recovery, president Mario Draghi said on Monday, but warned of risks to growth.

Greek lenders resume bailout review amid protests 01 February 2016, 18:32 CET
Greece and its creditors on Monday began a first review of the country's new bailout amid a wave of demonstrations by farmers and professionals against a controversial pension reform that is part of the fiscal overhaul.

ATR signs EUR 1.0 bn planes deal with Iran 01 February 2016, 15:11 CET
European manufacturer of turboprop aircraft ATR said Monday it had signed a one-billion-euro deal with Iran Air for up to 40 planes after the dropping of US sanctions against Iran.

EU voices support for German migrant fuel tax idea 30 January 2016, 14:32 CET
A German proposal for a continent-wide fuel tax to help finance the absorption of migrants has won backing from the European commissioner for the euro, news magazine Spiegel reported Saturday.

US hits out at EU tax probes: report 30 January 2016, 13:02 CET
The United States has attacked high-profile EU tax probes into American companies as unfair and encroaching on the US government's right to tax them, the Financial Times reported Saturday.

EU targets corporate tax avoidance as anger over Google spreads 29 January 2016, 22:17 CET
The European Union has launched plans to stamp out tax avoidance by multi-national corporations just as anger spread across Europe over the super low taxes paid by Google.

Eurozone inflation picks up in January 29 January 2016, 18:00 CET
Eurozone inflation accelerated to 0.4 per cent in January, from 0.2 per cent the month before, official data showed Friday, suggesting European Central Bank efforts to boost the economy are finally bearing fruit.

EU court throws out sanctions against five Ukraine old guard 28 January 2016, 16:19 CET
An EU court on Thursday annulled European Union sanctions against five Ukrainians, including two former prime ministers, because the bloc had wrongly found them at fault over embezzling state funds.

Anti Tax Avoidance Package 28 January 2016, 15:37 CET
Proposals put forward by the European Commission on 28 January aim for a coordinated EU wide response to corporate tax avoidance, following global standards developed by the OECD last autumn.