Economy of the European Union

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. 

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.

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%.

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.