Tuesday

26th May 2020

Coronavirus

EU links access to recovery fund to economic advice

Most EU countries are now breach the common fiscal rules, as governments tackle the economic fallout of the coronavirus pandemic. The commission plans to link recovery funds to countries following its budgetary advice - but sanctions seem to be few.

Coronavirus

ECB promises (almost) whatever it takes

The eurozone's central bank has promised to buy up to €750bn of government and private bonds in new pandemic counter-measures.

Opinion

What does coronavirus 'Black Swan' mean for markets?

Falling demand and prices for oil and raw materials will revive the risk of deflation. The collapse in international trade and long-term rethinking of China's role as the major hub for the production of consumer goods and electronics is inevitable.

Coronavirus

EU launches €100bn worker support scheme

The EU commission has announced a "new solidarity instrument", mobilising €100bn in support to workers with jobs affected by the coronavirus pandemic. Other funds will be redirected to respond to the negative economic impact.

Opinion

Pandemic is time to recognise gig workers' rights

Millions of gig economy workers have been left abandoned by companies during the coronavirus outbreak. Workers have complained that gloves, masks, or gel have not been made available.

Coronavirus

EU rift deepens as Commission sticks to €1trn recovery

The EU Commission said it is still aiming for a recovery initiative above one trillion euros to kickstart the pandemic-hit EU economy - after a German-French proposal called for a commonly-financed €500bn plan.

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Coronavirus

Macron and Merkel propose €500bn EU recovery fund

German chancellor Angela Merkel and French president Emmanuel Macron proposed on Monday a recovery fund of €500bn to support the sectors and regions in the EU most affected by the coronavirus crisis.

Ombudsman slams EU bank watchdog for 'revolving doors'

The European Banking Authority allowed its executive director to take a job at one of the world's largest financial lobbying groups. The move has been slammed by the European Ombusdman, who called it maladministration.

Coronavirus

EU set for record recession, putting euro at risk

Debt levels around Europe, especially in southern states, forecast to rise alarmingly, but EU commission remained confident countries can manage, despite fears of a second viral wave.

German court questions bond-buying and EU legal regime

The German Constitutional court ordered the European Central Bank to explain its 2015 bond-buying scheme that helped eurozone stay afloat - otherwise the German Bundesbank will not be allowed to take part.

Coronavirus

EU Commission clash with countries over travel refund

Twelve EU countries have asked the commission to temporarily suspend rules that require travel operators to provide cash refunds for cancelled trips. The commission argues consumers have to be protected - and that vouchers should be made more attractive.

Coronavirus

Firms in EU tax havens cannot be denied Covid bailouts

Denmark, France and Poland are refusing to provide bailouts to companies that are registered in tax havens like Panama. But campaigners point out that the EU's Luxembourg and Netherlands are also home to firms avoiding paying billions into national coffers.

Opinion

Orban's risky bet in economic response to coronavirus

Two concerns loom large: a large part of the stimulus the Orbán government is offering is directed towards particular industries where oligarchs are particularly influential; and the response does not address the needs of large swathes of the population.

Coronavirus

New rules coming for Europeans' summer travel

The commission will out forward guidelines for safe travel, as some member states and companies are already drawing up plans to restart tourism under the threat of the pandemic.

Coronavirus

EU leaders back trillion-euro recovery plan

EU leaders agreed on the need for a fund to support the recovery of Europe's economy from the coronavirus pandemic, but disagreed on details. The commission will come with proposals tied to the new long-term EU budget.

Coronavirus

Women hit hardest by corona economic crisis

While women are in the frontline on fighting the pandemic, they are also exposed more to the economic crisis that will follow. The pay gap could also grow. More security for flexible jobs, and investment in care work, could help.

Coronavirus

EU corona recovery talks could drag into summer

EU leaders hold a videoconference Thursday to bridge divisions over financing Europe's recovery from the corona crisis, in talks interlinked with the bloc's long-term budget.

Coronavirus

Spain seeks trillion-size fund in EU recovery feud

Madrid added its voice to the debate on how to come up with big enough recovery plan that would help protect the euro and stabilise economies worse-hot by the corona-virus. EU leaders will flesh out ideas on Thursday.

Coronavirus

Von der Leyen: new budget will be EU's corona response

The Commission argues that by using the next EU budget to leverage money guaranteed by member states, it could both circumvent the tricky issue of 'coronabonds' and allow larger overall investment.

Coronavirus

EU stalemate after 16-hour meeting on economic aid

EU finance ministers will continue discussions on plans to offset the economic shock caused by the coronavirus pandemic - after failing to bridge deep divides over how to manage debt.

Coronavirus

Merkel: Virus is biggest challenge in EU history

The German chancellor warned that the only answer can be more Europe. However, disagreements countinue over how to rebuild the bloc's economy after the pandemic. Commissioner Gentiloni warned about the state's increased role.

Opinion

Is Hogan about to let Trump's GM exports into EU?

By 18 March, trade commissioner Phil Hogan wants to sign a deal with the Trump administration which, to add a bit of spice, includes fast-tracking GMO imports in an attempt to please the US farming industry.

Coronavirus

Markets plunge after ECB and EU fail to convince

US president Donald Trump hit the EU economy with an unexpected travel ban, while markets went into a freefall after disappointment with the European Central Bank's measures to offset the coronavirus fallout.

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