Economy of the European Union
German court hands ECB 3-month ultimatum to justify stimulus scheme
Germany's highest court on Tuesday gave the European Central Bank (ECB) three months to justify bond purchases under its flagship stimulus program or lose the Bundesbank as a participant, raising questions about both the scheme and the euro's future.
Europe after Covid-19: Back to the old normal, but with steroids?
It is now clear that in Europe, as elsewhere, neither health services nor social protection systems were in place when Covid-19 hit. The European "project" is again being tested.
Carrots for V-shaped rebound
"Incentives" is the key word in the government's plans to revive the economy, with the aim of bolstering investment and employment.
- Read more about Carrots for V-shaped rebound
- Log in to post comments
Eurogroup chief tells Kathimerini of need for grants, not only loans
As European countries brace for the economic fallout of the coronavirus pandemic, the president of the eurozone group of finance ministers known as the Eurogroup, Mario Centeno, in an interview with five European newspapers including Kathimerini, has underlined the need for "a suitable mix of grants and loans in the recovery," warning of a new crisis if adequate support is not provided.
ECB prepares for more stimulus, hints at junk bond buys
The European Central Bank tweaked policy around the edges on Thursday but kept the door wide open to further stimulus — including potentially controversial purchases of junk debt — to help an economy ravaged by the coronavirus pandemic.
Eurostat: Euro Area Unemployment at 7.4%
In March 2020, the month when COVID-19 containment measures began to be widely introduced by Member States, the euro area seasonally-adjusted unemployment rate was 7.4%, up from 7.3% in February 2020. The EU unemployment rate was 6.6% in March 2020, up from 6.5% in February 2020. These figures are published by Eurostat, the statistical office of the European Union.
- Read more about Eurostat: Euro Area Unemployment at 7.4%
- Log in to post comments
Prices drop in April
Inflation turned negative in Greece in April, largely because of the collapsing oil prices, the EU statistics agency Eurostat announced Thursday.
The consumer price index dropped 0.9 percent in April, compared to April 2019; in March, inflation was 0.2% and last April, 1.1%.
- Read more about Prices drop in April
- Log in to post comments
Europe's central bank to adopt 'wait and see policy'
The European Central Bank (ECB) is not expected to take additional measures and could implement a "wait-and-see" policy amid the coronavirus crisis, according to economists.
Two scenarios on recession in 2020
The government will include two scenarios on the economic contraction projected for this year in the Stability Program for 2020-21 to be submitted to the European Commission on Thursday in the context of the European Semester.
- Read more about Two scenarios on recession in 2020
- Log in to post comments
EU countries to be allowed to grant subordinated debt to virus-hit firms, sources say
EU countries will soon be able to grant subordinated debt to prop up virus-hit economies, people familiar with the matter said on Saturday, as state aid regulators once again loosened rules to make it easier for companies get state support.