Coronavirus will cost Germany several hundred billion euros, according to new figures from research centre the ifo institute released on Monday (23 March). Production losses and unemployment will hurt, so Berlin will have to dig deep into its pockets. EURACTIV Germany reports.
Austria's economy has come to a standstill since the government closed down almost all its businesses due to the corona pandemic. To get companies through the dry spell, it is filling a crisis fund with €38 billion to keep them afloat until the economy restarts after the crisis.
The EU's internal market commissioner, Thierry Breton, suggests tapping into the ECB's "easy money" and issuing long-term bonds of up to 50 years in order to unlock the €1,000 billion needed to finance the European Green Deal. EURACTIV France reports.
Italy's new coalition government has no intention of leaving the euro and plans to focus on cutting debt levels, Economy Minister Giovanni Tria said on Sunday (10 June), looking to reassure nervous financial markets.
In discussions over the EU's next multi-annual budget, EU institutions need to pursue their efforts to decrease the burden of debt, write Cécile Philippe and Diego Sanchez de la Cruz.
A "debt clock" in Berlin, run by German tax lobbyists to shame the government into reining in spending, is falling for the first time in its 22-year history.
More often than not, the European Union is accused of overpromising and under delivering. That´s hardly the case in the Commission’s modest and pragmatic approach to the Capital Market Union (CMU). But as the midterm review of the financial flagship initiative nears, pragmatism is no excuse to miss an opportunity, writes Paul Tang.